Document:

SETTLEMENT AGREEMENT AND MUTUAL RELEASE

EXHIBIT 10.45

SETTLEMENT AGREEMENT AND MUTUAL RELEASE

This Settlement Agreement and General Release (hereinafter “Agreement”) is made this ___ day of May 2009 between the Farmatek IC VE DIS TIC, LTD. STI (“Farmatek”) and Oskiyan Hamdemir, on the one hand, and Baywood International, Inc. (“Baywood”) and Nutritional Specialties, Inc. (“NSI”), on the other hand.

RECITALS

A.

 On or about April 3, 2006, NSI and Farmatek executed an Exclusive Distribution Contract under which Farmatek agreed to serve as the exclusive distributor of NSI’s products in the territory of Turkey.

B.

By letter dated August 13, 2007, NSI gave Farmatek thirty days written notice of its decision to cancel the Exclusive Distribution Contract.

C.

On or about December 28, 2007 filed an action for breach of contract, breach of the implied covenant of good faith and fair dealing, unjust enrichment, and unfair business practices in Orange County Superior Court entitled, Farmatek IC VE DIS TIC, LTD. STI. V. Nutritional Specialties, Inc. dba Lifetime, Baywood International, Inc., and Does 1 through 25, inclusive, Case No. 00100814 (the “Action”).

D.

In or about October, 2007, Farmatek’s president, Oskiyan Hamdemir, applied for and obtained trademarks for the names of some of the private label products NSI produced exclusively for Farmatek, including products that Farmatek distributed and sold in Turkey under the parties’ Exclusive Distribution Contract.

E.

On or about October 15, 2008, Farmatek sent a warning letter to NSI, demanding that NSI cease selling and marketing the following products which Farmatek claimed it possessed registered trademarks: Alphadell, Alphamax, Argimax, Carvital, CLA Max, Genesis, Glucosol, HareCare, JSF, Multifem, MultiMen, Promax, Regulx, and Water X (collectively, “the Trademark Names”).

F.

The parties wish to resolve all possible disputes between them relating to the Action and the Trademark Names, whether known or unknown, and to provide for a general release of all such claims except as otherwise provided herein.

TERMS OF AGREEMENT

In consideration of the mutual covenants and promise herein contained, and for good and valuable consideration, the receipt and sufficiency of which are herby acknowledged, it is agreed:

1.

Payment.  For the execution of this Agreement by the Parties, Baywood and NSI shall pay to Farmatek the total sum of $250,000.  This amount shall be paid in 12 months pursuant to the following schedule:

1

a.

payment of $50,000 within 10 days of the execution of this Agreement;

b.

payment of $75,000 by September 15, 2009;

c.

payment of $75,000 by December 15, 2009; and

d.

a final payment of $50,000 by March 15, 2010.

As an incentive to provide early payment, Baywood and NSI’s total obligation under this paragraph will be reduced by Ten Thousand Dollars ($10,000) if Baywood and NSI make all the required payments by September 30, 2009.  All payments are to be made by international electronic wire transfer payable to Farmatek and sent to:

Bank: Turkiye Is Bankasi

Branch #: 1228

Account #: 52176

IBAN: TR62 0006 4000 0021 2280 0521 76

SWIFT: ISBKTRIS

2.

Impact of Nonpayment.  Except as provided in Paragraph 3, should Baywood and NSI fail to pay the amounts set forth in Paragraph 1 of this Agreement, and if not paid in full within fifteen (15) business days of a written demand by Farmatek, Farmatek may, in addition to its other remedies, upon written notice to Baywood and NSI, file the Stipulated Judgment attached as Exhibit A.

3.

Marketing and Sale of Products under the Trademarked Names.  Baywood and NSI represent and warrant it no longer manufactures products under the Trademarked Names for distribution in Turkey and agree that they will not do so in the future, except as otherwise provided in this Agreement.  Farmatek and Mr. Hamdemir acknowledge and agree that Baywood, NSI, and its current Turkish distributor may advertise, market, distribute, and sell in Turkey any products under the Trademarked Names that Baywood, NSI, or their Turkish distributor currently have in inventory or which are currently held by an Turkish pharmacy but only until August 30, 2009.

After August 30, 2009, Baywood, NSI and its current Turkish distributor will and shall stop any, every and all advertising, marketing, distribution and sale in Turkey of all products under the Trademarked Names.  This Agreement applies solely to the Trademarked Names and no other names.

Except in the event that Baywood, NSI, its/their Related Persons, or their Turkish distributor breaches the terms of this agreement with respect to payments or the Trademarked Names, Farmatek, Mr. Hamdemir, and any Related Persons agree that they will not take action against Baywood, NSI, their Turkish distributor to enforce any rights Farmatek or Mr. Hamdemir possesses with respect to the Trademarked Names and will not initiate, threaten to initiate or cause to be initiated either civil or criminal proceedings against Baywood, NSI or their Turkish distributor in connection with their past or permitted future manufacture, marketing, advertising, distribution, or sale of products under the Trademarked Names.

2

Except in the event that Baywood, NSI its/their Related Persons, or their Turkish distributor breaches the terms of this agreement with respect to payments or the Trademarked Names, Farmatek, Mr. Hamdemir, and any Related Persons agree that they will not initiate, threaten to initiate or cause to be initiated any action against any Turkish pharmacy or entity possessing, advertising, offering for sale and/or selling any products under the Trademarked Names.  In the event that Farmatek or Mr. Hamdemir violates the terms of this Paragraph, Baywood and/or NSI will have no obligation to make any further payments to Faramatek under Paragraph 1 of this Agreement and may seek damages against Faramtek and/or Mr. Hamdemir arising out of any violation of this paragraph.

If any Trademarked Names become invalidated, expires, non-renewed or otherwise loses trademark protection in Turkey such that third-parties become free to use the Trademarked Name then Baywood, NSI and their Related Parties shall be likewise free to use the Trademarked Names, without penalty or restriction.  Baywood, NSI and their Related Parties, however warrant and agree that they or their Turkish distributor will not initiate, participate, threaten to initiate or cause to be initiated any action, petition or proceeding, of any nature, in Turkey to invalidate or otherwise challenge Mr. Hamdemir’s ownership of the Trademarked Names.

4.

Dismissal of Action with Prejudice.  Within 7 days of execution of this Agreement, Farmatek will file with the Orange County Superior Court a Request for Dismissal with prejudice of its Complaint.  The Parties agree that each side will bear its own costs and attorneys’ fees in connection with this action.

5.

Retention of Jurisdiction.  The court will retain jurisdiction over the parties to enforce the terms of the settlement until performance in full by the Parties pursuant to CCP Section 664.6.  Should either Party fail to abide by or perform the terms of this Agreement, the aggrieved party may move the Court for an order enforcing the terms of this Agreement and compelling acceptance of the Agreement.

6.

No Admissions.  This Agreement is entered into for the purpose of compromising disputed claims and avoiding the expense, inconvenience, and uncertainty of litigation.  Nothing contained in this Agreement, nor any consideration given pursuant to it, shall constitute or be deemed an admission of any act, omission, liability, or damages of any Party.

7.

Definition of “Related Persons.”  As used in this Agreement, a Party’s “Related Persons” are, and the term is defined to mean, its past and present affiliates, parents, subsidiaries, divisions, predecessors, successors, assigns and any entity in which the Party has a controlling interest, and its or their current or former partners, principals, officers, directors, shareholders, owners, members, agents, employees, trustees, attorneys, representatives, insurers, heirs, and assigns, any other current or former persons who managed or directed its or any of their respective affairs or acted on its or any of their respective behalves, and all predecessors, successors and assigns of it or any of them.

3

8.

Farmatek Releases.  Faramtek, on behalf of itself and its successors and assigns, do hereby absolutely and forever release and discharge Baywood, NSI, and each of their Related Persons from any and all actions, causes of action, demands, damages, debts, obligations, liabilities, accounts, costs, expenses, liens or claims of whatever character, whether known or unknown, suspected or unsuspected, in any way related to, connected with, or arising out of the claims or facts and circumstances which were or could have been the subject of the Action or which relate, in any way, to the Trademark Names, the prosecution thereof and any attorneys’ fees and costs incurred in connection with the Action.  The releases in this paragraph do not apply to the obligations created under this Agreement.

9.

Mr. Hamdemir Releases.  Mr. Hamdemir, on behalf of himself and his successors and assigns, do hereby absolutely and forever release and discharge Baywood and NSI, and each of their Related Persons from any and all actions, causes of action, demands, damages, debts, obligations, liabilities, accounts, costs, expenses, liens or claims of whatever character, whether known or unknown, suspected or unsuspected, in any way related to, connected with, or arising out of the claims or facts and circumstances which were or could have been the subject of the Action or which relate, in any way, to the Trademark Names, the prosecution thereof and any attorneys’ fees and costs incurred in connection with the Action.  The releases in this paragraph do not apply to the obligations created under this Agreement.

10.

Baywood and NSI Releases.  Baywood and NSI, on behalf of themselves and their successors and assigns, do hereby absolutely and forever release and discharge Farmatek, Mr. Hamdemir, and each of its Related Persons from any and all actions, causes of action, demands, damages, debts, obligations, liabilities, accounts, costs, expenses, liens or claims of whatever character, whether known or unknown, suspected or unsuspected, in any way related to, connected with, or arising out of the claims or facts and circumstances which were or could have been the subject of the Action or which relate, in any way, to the Trademark Names, the prosecution thereof and any attorneys’ fees and costs incurred in connection with the Action.  The releases in this paragraph do not apply to the obligations created under this Agreement.

11.

Waiver of Rights under Section 1542.  The Parties understand and agree that this Agreement extends to all claims of any nature and kind, known or unknown, suspected or unsuspected, and in that regard, acknowledge that they are familiar with Section 1542 of the Civil Code of the State of California which provides as follows:

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOWN OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.

4

The Parties expressly waive and relinquish every right or benefit which they may have under Section 1542 of the Civil Code of the State of California.

12.

Consultation with Counsel.  Each Party represents and warrants that, in negotiating and entering into this Agreement, it has consulted with and relied upon legal counsel of its own selection.

13.

No Representations.  Each Party acknowledges that, except as expressly set forth herein, no representations, promises, or inducements of any kind or character have been made to them by the other Party or by any Party’s agents, representatives or attorneys to induce the execution of this Agreement.

14.

Interpretation of the Agreement.  The Parties agree that any rule pertaining to the construction of contracts to the effect that ambiguities are to be resolved against the drafting party shall not apply to the interpretation of this Agreement.  The language in all parts of this Agreement shall be interpreted according to its fair meaning and, specifically, shall not be interpreted strictly for or against any of the Parties to this Agreement.

15.

Disputes.  In any litigation between the Parties to declare the rights granted in the Agreement or to enforce the provisions of the Agreement, the Party prevailing in the litigation, whether at trial, arbitration or an appeal, shall be awarded its costs and expenses (including experts) of suit, including, without limitation, a reasonable sum for attorneys’ fees and expert witness’ fees incurred in such litigation.  The term “prevailing party” as used in this paragraph shall not be limited to a prevailing plaintiff Party, but shall also include, without limitation, any Party who is made a defendant in litigation in which damages or other relief or both may be sought against such Party and a final judgment or dismissal or decree is entered in such litigation in favor of such Party defendant.  Attorneys’ fees and expert witness’ fees incurred in enforcing any judgment or order rendered in connection with the interpretation or enforcement of this Agreement (“Judgment”) are recoverable by the Party in whose favor such Judgment or award is rendered, as a separate item of damages.  The provisions of this paragraph are severable from the other provisions of this Agreement and shall survive any such Judgment or award, and the provisions of this paragraph shall not be deemed merged into any such Judgment or award.

16.

Entire Agreement.  This Agreement contains the entire understanding between the Parties concerning the settlement of this dispute.  Any and all prior negotiations that are not contained in this Agreement are superseded and of no force or effect.

17.

Modifications.  This Agreement may not be orally superseded, modified, or amended.  No waiver, modification, or amendment shall be valid unless signed by all Parties.

5

18.

Applicable Law and Forum Selection.  This Agreement shall be interpreted in accordance with the law of the State of California. Any legal action brought by a Party to interpret, enforce, or recover damages for the breach of any term of this Agreement must be filed in the Superior Court of the County of Orange.

19.

Execution in Counterparts.  This Agreement shall become effective on its execution by or on behalf of all Parties.  It may be executed in two or more counterparts each of which shall be deemed to be an original and all counterparts shall together constitute the Agreement.

The Parties hereto have caused this Agreement to be executed on the date shown below by their respective duly authorized representatives.

				
	DATED:    6/12/09   

	                   

	DEFENDANT BAYWOOD

	 
	 
	INTERNATIONAL, INC.

	 
	 
	 
	 

	 
	 
	 
	 

	 
	 
	By:

	/s/ Neil Reithinger

	 
	 
	 
	Neil Reithinger

	 
	 
	 
	Chief Financial Officer

6

			
	DATED:   6/12/09   

	DEFENDANT NUTRITIONAL

	 
	SPECIALTIES, INC.

	                                                              

	 
	 

	 
	 
	 

	 
	By:

	/s/ Thomas Pinkowski

	 
	 
	Thomas Pinkowski

	 
	 
	President

	 
	 
	 

	 
	 
	 

	DATED:   6/08/09   

	PLAINTIFF FARMATEK IC VE DIS TIC,

	 
	LTD. STI. AND OSKIYAN HAMDEMIR

	 
	 
	 

	 
	 
	 

	 
	By:

	/s/ Oskiyan Hamdemir

	 
	 
	Oskiyan Hamdemir

	 
	 
	President

	 
	 
	 

	 
	 
	 

	APPROVED AS TO FORM:

	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

	DATED:   June 12, 2009   

	GORDEE, NOWICKI & ARNOLD LLP

	 
	 
	 

	 
	 
	 

	 
	By:

	/s/ Bryan B. Arnold 

	 
	 
	Bryan B. Arnold

	 
	 
	Attorneys for Defendants BAYWOOD

	 
	 
	INTERNATIONAL, INC. AND

	 
	 
	NUTRITIONAL SPECIALTIES, INC.

	 
	 
	 

	 
	 
	 

	DATED:   6/08/09   

	NIZAMIAN & NIZAMIAN LLP

	 
	 
	 

	 
	 
	 

	 
	By:

	/s/ Raffi Nizamian

	 
	 
	Raffi Nizamian

	 
	 
	Attorneys for Plaintiff FARMATEK 

	 
	 
	IC VE DIS TIC, LTD. STI.

7EMPLOYMENT
AGREEMENT 
 

EMPLOYMENT
AGREEMENT ("Agreement") made as of this 11th
day of May, 2009 by and between MedLink International, Inc., a Delaware
corporation, having an office at 1 Roebling Court, Ronkonkoma NY 11779
(hereinafter referred to as "Employer") and Ray Vuono, an
individual with a business address c/o the Company(hereinafter referred
to as "Employee");  

      W
I T N E S S E T H: 

WHEREAS,
Employer desires to employ, Employee as Chief Executive Officer of Employer;
and 

WHEREAS,
Employee is willing to be employed as the Chief Executive Officer of
Employer in the manner provided for herein, and to perform the duties
of the Chief Executive Officer of Employer upon the terms and conditions
herein set forth; 

WHERAS, It is expected
that the Company from time to time will consider the possibility of
an acquisition by another company or other change of control. The Board
of Directors of the Company (the “Board”) recognizes that
such consideration can be a distraction to Executive and can cause Executive
to consider alternative employment opportunities. The Board has determined
that it is in the best interests of the Company and its stockholders
to assure that the Company will have the continued dedication and objectivity
of Executive, notwithstanding the possibility, threat or occurrence
of a Change of Control.  

WHEREAS, The Board
believes that it is in the best interests of the Company and its stockholders
to provide Executive with an incentive to continue his or her employment
and to motivate Executive to maximize the value of the Company for the
benefit of its stockholders.  

WHERAS, The Board
believes that it is imperative to provide Executive with certain severance
benefits (“Severance Package”) which include twelve (12) months
salary, at his then current yearly salary rate, all outstanding stock
options not earned or exercised due to the Employee with options vesting
immediately and exercisable on the date that is 3 months from the issuance
date of the Options unless otherwise stipulated in writing.   

NOW, THEREFORE,
in consideration of the promises and mutual covenants herein set forth
it is agreed as follows: 

1. Employment
of Chief Executive Officer of Employer.  Employer hereby
employs Employee as Chief Executive Officer of Employer. 

2. Term.   

Subject to
Section 9 and Section 10 below, the term of this Agreement shall be
for a period of Sixty (60) months commencing on June 1, 2009 (the Term). 
The Term of this Agreement shall be automatically extended for an additional
(2) year period, unless either party notifies the other in writing at
least ninety (120) days prior to the expiration of the then existing
Term of its intention not to extend the Term.  During the Term,
Employee shall devote substantially all of his business time and efforts
to Employer and its subsidiaries and affiliates.   

3. Duties. 
The Employee shall perform those functions generally performed by persons
of such title and position, shall attend all meetings of the stockholders
and the Board (if invited to attend), shall perform any and all related
duties and shall have any and all powers as may be prescribed by resolution
of the Board, and shall be available to confer and consult with and
advise the officers and directors of Employer at such times that may
be required by Employer.  Employee shall report directly and solely
to the Board. 

4. Compensation.  

a. (i) Employee
shall be paid a base pay of $360,000 per year during the Term of this
Agreement.  Employee shall be paid periodically in accordance with
the policies of the Employer during the term of this Agreement, but
not less than bi-monthly.  During the Term Employee shall be the
highest paid employee of the Company or any of its subsidiaries in terms
of monetary compensation.  In the event another employee of Employer
or any of its subsidiaries is paid a monetary compensation that is higher
than Employee’s, Employee’s monetary compensation shall be adjusted
to equal such employee’s monetary compensation plus an additional
5%. 

(ii) Employee
is eligible for an annual bonus, if any, which will be determined and
paid in accordance with policies set from time to time by the compensation
committee of the Board.  

b. At the
beginning of each 12 month period during the Term, Employer shall grant
Employee 2,000,000 options (“Options”) to purchase shares of the
Company’s common stock pursuant to the Company’s Stock Option Plan
then in effect, at an exercise price per share equal to the Fair Market
Value of the Company’s common stock.  The Options shall be exercisable
for a period of seven (7) years from their date of issuance.  The
Options shall vest and become exercisable on the date that is 12 months
from the issuance date of the Options. 

c. Employer
shall include Employee in its health insurance program, payment of premiums
in accordance with company policy.  

d.  Employee
shall receive an automobile allowance in the amount of $1000.00 per
month.

    

e.  Employee
shall have the right to participate in any other employee benefit plans
established by Employer. 

f. (i) In
the event of a "Change of Control" whereby:  

(A) A person
(other than a person who is an officer or a Director of Employer on
the effective date hereof), including a "group" as defined
in Section 13(d)(3) of the Securities Exchange Act of 1934, after execution
of this Agreement becomes, or obtains the right to become, the beneficial
owner of Employer securities having 50% or more of the combined voting
power of then outstanding securities of the Employer that may be cast
for the election of directors of the Employer;  

(B) At any
time, a majority of the Board-nominated slate of candidates for the
Board is not elected;  

(C) Employer
consummates a merger in which it is not the surviving entity;  

(D) Substantially
all Employer's assets are sold; or  

(E) Employer's
stockholders approve the dissolution or liquidation of Employer; then  

            (ii)   All stock options
and warrants ("Rights") granted by Employer to Employee under
any plan or otherwise prior to the effective date of the Change of Control,
shall become vested, accelerate and become immediately exercisable with
the employee option of cashless exercise; any time within twelve months
after the effective date of the change of control, adjusted for any
stock splits and capital reorganizations having a similar effect, subsequent
to the effective date hereof. In the event Employee owns or is entitled
to receive any unregistered securities of Employer, then Employer shall
use its best efforts to effect the registration of all such securities
as soon as practicable, but no later than 120 days after the Change
of Control; provided, however, that such period may be extended or delayed
by Employer for one period of up to 60 days if, upon the advice of counsel
at the time such registration is required to be filed, or at the time
Employer is required to exercise its best efforts to cause such registration
statement to become effective, such delay is advisable and in the best
interests of Employer because of the existence of non-public material
information, or to allow Employer to complete any pending audit of its
financial statements.  

5.
 Expenses.  Employee shall be reimbursed for all of
his actual out-of-pocket expenses incurred in the performance of his
duties hereunder, provided such expenses are acceptable to Employer,
which approval shall not be unreasonably withheld, for business related
travel and entertainment expenses, and that Employee shall submit to
Employer detailed receipts, according to IRS guidelines, with respect
thereto. 

6. Vacation.
Employee shall be entitled to receive four (4) weeks paid vacation time
during each year of employment with dates agreed upon by Employer. Vacation
time may not be accrued beyond the end of the calendar year. In the
event of separation of employment, for any reason, vacation time accrued
and not used, in that calendar year, shall be paid at the salary rate
of Employee in effect at the time of employment separation. 

7. Secrecy. 
At no time shall Employee disclose to anyone any confidential or secret
information (not already constituting information available to the public)
concerning (a) internal affairs or proprietary business operations of
Employer or (b) any trade secrets, new product developments, patents,
programs or programming, especially unique processes or methods. 

8.
 Covenant Not to Compete.   

(a) Subject
to, and limited by, Section 10(b), Employee will not, at any time, during
the term of this Agreement, and for one (1) year thereafter, either
directly or indirectly, engage in, with or for any enterprise, institution,
whether or not for profit, business, or company, competitive with the
business (as identified herein) of Employer as such business may be
conducted on the date thereof, as a creditor, guarantor, or financial
backer, stockholder, director, officer, consultant, advisor, employee,
member, inventor, producer, director, or otherwise of or through any
corporation, partnership, association, sole proprietorship or other
entity; provided, that an investment by Employee, her spouse or her
children is permitted if such investment is not more than four percent
(4%) of the total debt or equity capital of any such competitive enterprise
or business and further provided that said competitive enterprise or
business is a publicly held entity whose stock is listed and traded
on a national stock exchange or through the NASDAQ Stock Market. 
As used in this Agreement, the business of Employer shall be deemed
to include the development and marketing of Healthcare IT systems.   

(b) For a
period one year from the date of termination of this agreement Employee
shall not contact or solicit any of the Companies customers, employees
or suppliers. 

(c) During
the entire time of employment, any outside consulting (paid or unpaid),
employment, business venture or compensated activities must receive
the written approval of the compensation committee, established by the
board of directors, or any other committee of the board of directors
serving such function. 

9. 
Termination.   

	Termination
 by Employer 

(i) Employer
may terminate this Agreement upon written notice for Cause.  For
purposes hereof, "Cause" shall mean (A) Employee's misconduct
as could reasonably be expected to have a material adverse effect on
the business and affairs of Employer, (B) the Employee's disregard of
lawful instructions of Employers Board of Directors consistent with
Employee's position relating to the business of Employer or neglect
of duties or failure to act, which, in each case, could reasonably be
expected to have a material adverse effect on the business and affairs
of Employer,(C) engaging by the Employee in conduct that constitutes
activity in competition with Employer, including any unapproved activities
identified in section 8(c) of this agreement; and/or (D) the conviction
of Employee for the commission of a felony.  Notwithstanding anything
to the contrary in this Section 9(a)(i), Employer may not terminate
Employee's employment under this Agreement for Cause unless Employee
shall have first received notice from the Board advising Employee of
the specific acts or omissions alleged to constitute Cause, and such
acts or omissions continue after Employee shall have had a reasonable
opportunity (at least 10 days from the date Employee receives the notice
from the Board) to correct the acts or omissions so complained of. 
In no event shall alleged incompetence of Employee in the performance
of Employee's duties be deemed grounds for termination for Cause. 

(ii) If Employer
shall terminate this Agreement under Section 9(a)(i), Employee shall
be entitled to receive the greater of: (a) the remaining salary due
to Employee under this Agreement, or (b) twelve (12) months salary,
at his then current yearly salary rate, all outstanding stock options
not earned or exercised due to the Employee with options vesting immediately
and exercisable on the date that is 3 months from the issuance date
of the Options(the “Severance Payment”), and Employer shall
pay 100% of the C.O.B.R.A. premiums for twelve (12) months after such
termination.  

(iii) This
agreement automatically shall terminate upon the death of Employee,
except that Employee's estate shall be entitled to receive any amount
accrued under Section 4(a).  

b. Termination
by Employee 

(i) Employee
shall have the right to terminate his employment under this Agreement
upon 30 days' notice to Employer given within 90 days following the
occurrence of any of the following events (A) through (F) or within
three years following the occurrence of event (G): 

(A) Employee
is not appointed or retained as Chief Executive Officer (or a substantially
similar position). 

(B) Employer
acts to materially reduce Employee's duties and responsibilities hereunder. 
Employee's duties and responsibilities shall not be deemed materially
reduced for purposes hereof solely by virtue of the fact that Employer
is (or substantially all of its assets are) sold to, or is combined
with, another entity, provided that Employee shall continue to have
the same duties and responsibilities with respect to Employer's business,
and Employee shall report directly to the board of directors of the
entity (or individual) that acquires Employer or its assets. 

(C) Employer
acts to change the geographic location of the performance of Employee's
duties from the Suffolk County of New York area.   

(D) A Material
Reduction (as hereinafter defined) in Employee's rate of base compensation,
or Employee's other benefits.  "Material Reduction" shall
mean a ten percent (10%) differential; 

(E) A failure
by Employer to obtain the assumption of this Agreement by any successor; 

(F) A material
breach of this Agreement by Employer, which is not cured within thirty
(30) days of written notice of such breach by Employer; 

(G) A Change
of Control. 

(ii) 
Anything herein to the contrary notwithstanding, Employee may terminate
this Agreement upon thirty (30) days written notice to Employer.   

(iii) 
If Employee shall terminate this Agreement under Section 9(b)(i), Employee
shall be entitled to receive the greater of: (a) the remaining salary
due to Employee under this Agreement, or (b) twelve (12) months salary,
at his then current yearly salary rate, all outstanding stock options
not earned or exercised due to the Employee with options vesting immediately
and exercisable on the date that is 3 months from the issuance date
of the Options(the “Severance Payment”), and Employer shall
pay 100% of the C.O.B.R.A. premiums for twelve (12) months after such
termination. Other than the Severance Payment and the payment of C.O.B.R.A.
premiums described in this section 9(b)(iii), Employer shall have no
further obligation to compensate Employee pursuant to Section 4 above.   

c. Termination
by Board of Directors actions due to economic hardship of the Employer. 

(i) In the
event the Employer, under direction from its board of directors due
to financial distress, is required to take actions that may effect any
or all of the Section 9(b)(i) events (A) through (F)  

(ii) 
Within thirty (30) days of such board action, Employee may voluntarily
terminate this Agreement with written notice to Employer.  

(iii) 
If Employee shall terminate this Agreement under Section 9(c)(ii), Employee
shall be entitled to “Severance Payment” 
and Employer shall pay 100% of the C.O.B.R.A. premiums for twelve (12)
months after such termination. Other than the payments set forth in
this section 9(c)(iii) and the payment of C.O.B.R.A. premiums described
in this section 9(c)(iii), Employer shall have no further obligation
to compensate Employee pursuant to Section(s) 4 or 9(b)above.  
If Employee shall terminate this Agreement pursuant to Section 9(c)(ii),
Employee shall not be entitled to the Severance Payment or any additional
compensation as provided in Section 4 or 9(b)above. 

10. Consequences
of Breach by Employer;

Employment
Termination            
  

a. 
If the Employer shall terminate Employee's employment under this Agreement
in any way that is a breach of this Agreement by Employer, the following
shall apply: 

(i) Employee
shall be entitled to receive the “Severance Payment”, and
Employer shall pay 100% of the C.O.B.R.A. premiums for twelve (12) months
after such termination. Other than the Severance Payment and the payment
of C.O.B.R.A. premiums described, Employer shall have no further obligation
to compensate Employee pursuant to Section(s) 4 or 9 above; and 

(ii) Employee
shall be entitled to payment of any previously declared bonus as provided
in Section 4(a) above. 

b. In the
event of termination of Employee's employment pursuant to Section 9(b)(i)
of this Agreement, Sections 8(a) and 8(b) shall apply to Employee for
the number of months remaining under this Agreement at the time of termination
plus a period of six (6) months thereafter. 

11. Remedies 

Employer
recognizes that because of Employee's special talents, stature and opportunities
in the Healthcare industry, and because of the nature of and compensation
practices of said industry and the material impact that individual projects
can have on the Company's results of operations, in the event of termination
by Employer hereunder (except under Section 9(a)(i) or (ii), or in the
event of termination by Employee under Section 9(b)(i) before the end
of the agreed term), the Employer acknowledges and agrees that the provisions
of this Agreement regarding further payments of base salary, bonuses
and the exercisability of Rights constitute fair and reasonable provisions
for the consequences of such termination, do not constitute a penalty,
and such payments and benefits shall not be limited or reduced by amounts'
Employee might earn or be able to earn from any other employment or
ventures during the remainder of the agreed term of this Agreement. 

12. Excise
Tax. In the event that any payment or benefit received or to
be received by Employee in connection with a termination of his employment
with Employer would constitute a "parachute payment" within
the meaning of Code Section 280G or any similar or successor provision
to 280G and/or would be subject to any excise tax imposed by Code Section
4999 or any similar or successor provision then Employer shall assume
all liability for the payment of any such tax and Employer shall immediately
reimburse Employee on a "grossed-up" basis for any income
taxes attributable to Employee by reason of such Employer payment and
reimbursements.   

  

13. Attorneys'
Fees and Costs.  If any action at law or in equity is necessary
to enforce or interpret the terms of this Agreement, the prevailing
party shall be entitled to reasonable attorney's fees, costs and necessary
disbursements in addition to any other relief to which he may be entitled. 

14. Entire
Agreement; Survival.  This Agreement contains the entire
agreement between the parties with respect to the transactions contemplated
herein and supersedes, effective as of the date hereof any prior agreement
or understanding between Employer and Employee with respect to Employee's
employment by Employer. The unenforceability of any provision of this
Agreement shall not effect the enforceability of any other provision. 
This Agreement may not be amended except by an agreement in writing
signed by the Employee and the Employer, or any waiver, change, discharge
or modification as sought.  Waiver of or failure to exercise any
rights provided by this Agreement and in any respect shall not be deemed
a waiver of any further or future rights. 

b. The provisions
of Sections 4, 7, 8, 9(a)(ii), 9(b)(iii), 10, 11, 12, 14, 16, 17 and
18 shall survive the termination of this Agreement. 

15. Assignment.  
This Agreement shall not be assigned to other parties. 

16.
 Governing Law.  This Agreement and all the amendments
hereof, and waivers and consents with respect thereto shall be governed
by the laws of the State of New York, without regard to the conflicts
of laws principles thereof. 

17. Notices. 
All notices, responses, demands or other communications under this Agreement
shall be in writing and shall be deemed to have been given when  

a. delivered
by hand;  

b. sent be
telex or telefax, (with receipt confirmed), provided that a copy is
mailed by registered or certified mail, return receipt requested; or  

c. 
received by the addressee as sent be express delivery service (receipt
requested) in each case to the appropriate addresses, telex numbers
and telefax numbers as the party may designate to itself by notice to
the other parties:   

(i) if to
the Employer:

                              MedLink International, Inc.

                              1 Roebling Court

                              Ronkonkoma, NY 11779

                              Telefax: (631) 342-8819

                              Telephone:(631)-342-8800 

(ii) if to
the Employee: 

                              1 Roebling Court

                              Ronkonkoma, NY 11779

                              Telefax: (631) 342-8819

                              Telephone:(631)-342-8800 

18. Severability
of Agreement.  Should any part of this Agreement for any
reason be declared invalid by a court of competent jurisdiction, such
decision shall not affect the validity of any remaining portion, which
remaining provisions shall remain in full force and effect as if this
Agreement had been executed with the invalid portion thereof eliminated,
and it is hereby declared the intention of the parties that they would
have executed the remaining portions of this Agreement without including
any such part, parts or portions which may, for any reason, be hereafter
declared invalid.   

[SIGNATURE
PAGE FOLLOWS]

 

IN WITNESS WHEREOF, the undersigned have executed this agreement
as of the day and year first above written. 
 

Employee 

 

Signature: /s/ Ray Vuono 

Printed Name: Ray Vuono 

Date:  

MEDLINK INTERNATIONAL,
INC. 
 

By: /s/ James Rose 

Name: James Rose  

Title: Chief Financial Officer 

Date:

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