Document:

Unassociated Document

     

    Exhibit
      10.11

    

    EMPLOYMENT
      AGREEMENT

    

    Employment
      Agreement, dated as of December 17, 2007, by and between Leonard Neuhaus, an
      individual with an address at 315 East 72nd
      Street,
      Apartment 18H, New York, New York 10021 (“Executive”),
      and United Benefits & Pension Services, Inc., a Delaware Corporation, with
      its principal office located at 501 Kings Highway East, Suite 108, Fairfield,
      Connecticut 06825 (the “Company”). 

    

    RECITALS

    

    A. The
      Company desires to retain Executive as an executive officer of the Company
      during the Term (as defined below).

    

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

    

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

    

    1. Engagement;
      Duties.
      Subject
      to the terms and conditions set forth herein, the Company shall employ Executive
      as Chief Financial Officer and Chief Operating Officer during the Term (as
      defined in Section 2). Executive shall perform the duties and responsibilities
      customarily performed by a person serving as Chief Financial Officer and Chief
      Operating Officer of a corporation comparable to the Company that is engaged
      in
      a business similar to that of the Company and its present or future Affiliates,
      including, without limitation, oversight and management of the Company’s
      finances and accounting practices. During the Term, the Executive shall report
      to, and be subject to the direction and control of, the Board of Directors
      of
      the Company (the “Board”) and Chief Executive Officer of the Company. In
      addition, for so long as he is employed by the Company as Chief Financial
      Officer and Chief Operating Officer, Executive may be elected to serve and,
      if
      so elected, shall serve as a member of the Board and may be elected to serve,
      and, if so elected, shall serve, as a member of the board of directors of any
      present or future Affiliate of the Company. During the Term, Executive shall
      promote the interests of the Company and any present or future Affiliate of
      the
      Company, perform his duties faithfully and diligently, consistent with sound
      business practices, and devote his full business time to the performance of
      his
      duties for the Company and its present and future Affiliates in accordance
      with
      the terms hereof. Provided that the activities listed below do not materially
      interfere with Executive’s duties and responsibilities under this Agreement,
      nothing in the Agreement shall preclude Executive from devoting reasonable
      periods required for:

    

    (A) Serving
      as a member of any organization involving no conflict of interest with the
      Company;

    

    (B) Serving
      as a consultant in his area of expertise to government, commercial and academic
      panels where it does not conflict with the interests of the
      Company;

    

    (C) Managing
      his personal investments or engaging in any other non-competing business
      activity during his non-business time; and

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    (D) Serving
      as a member of the Board of Directors or in an advisory capacity to government,
      commercial and academic panels where it does not conflict with the interests
      of
      Executive. 

    

    2. Term. Unless
      this Agreement is terminated pursuant to Section 5, the term of this Agreement
      (the “Initial Term”) shall commence as of January 1, 2008 (the “Effective Date”)
      and shall expire on the date immediately preceding the second anniversary of
      the
      Effective Date. The Initial Term shall automatically be extended thereafter
      for
      subsequent one year periods (each an “Extension Year” and, together with the
      Initial Term, the “Term”), subject to earlier termination pursuant to Section 5,
      unless at least ninety (90) days prior to the expiration of the then-current
      Extension Year, as the case may be, the Company or Executive have notified
      the
      other party in writing that Employee’s employment hereunder shall terminate upon
      the expiration of the then-current Term. 

    

    3. Compensation.
      As
      consideration for the performance by Executive of Executive’s obligations under
      this Agreement, the Company shall compensate Executive as follows:

    

    (A) During
      the Initial Term, the Company shall pay Executive a base salary at the rate
      of
      Two Hundred Twenty-five Thousand ($225,000.00) Dollars per year (“Base Salary”),
      which shall be prorated for periods that are less than one (1) year. The Chief
      Executive Officer and the Board, or, if applicable, the compensation committee
      appointed by the Board (the “Compensation Committee”), shall review Executive’s
      performance at the end of the Initial Term and any Extension Year. Executive’s
      base salary shall be subject to increase or decrease, at the discretion of
      the
      Board (or, if applicable, the Compensation Committee) effective as of the date
      on which the applicable Extension Year shall have commenced, based on the
      results of such review. 

    

    (B) In
      addition to the Base Salary, the Company shall pay Executive, if and when earned
      by Executive, a bonus (“Bonus”) based on Executive’s performance as determined
      by performance criteria and objectives established by the Board or, if
      applicable, the Compensation Committee, which bonus shall in no event exceed
      fifty percent (50%) of the Base Salary in effect at the time of the
      determination of such Bonus. The Board of Directors, or, if applicable, the
      Compensation Committee, shall consult with Executive on the creation of
      applicable performance criteria and objectives. Such criteria and objectives
      shall be established within ninety (90) days after the Effective Date and,
      if
      the term is renewed, within sixty (60) days after the commencement of any
      Extension Year. 

     

    (C) The
      Base
      Salary shall be payable in accordance with the Company’s usual and customary
      payroll practices. The Bonus, if any, shall be paid within sixty (60) days
      after
      the end of each fiscal year of the Company. If the Bonus is based upon financial
      results for the fiscal year and such results are not known within sixty (60)
      days after the end of the fiscal year, then eighty (80%) of the projected Bonus
      shall be paid within sixty (60) days after the end of such fiscal year and
      the
      balance shall be payable within thirty (30) days after delivery of audited
      financial statements for the applicable fiscal year. The Company
      shall deduct from the Base Salary and any Bonus any federal, state or local
      withholding taxes, social security contributions and any other amounts which
      may
      be required to be deducted or withheld by the Company pursuant to any federal,
      state or local laws, rules or regulations.

    

    
      
        
        

      

      
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    4. Reimbursement
      of Expenses; Fringe Benefits.

    

    (A) Expenses.
      The
      Board will authorize an expense budget for Executive commensurate with
      reasonable business requirements, which shall provide for reimbursement of
      Executive’s reasonable travel and entertainment costs and expenses, costs and
      expenses of attending conferences, seminars and conventions related to the
      business of the Company or any present or future Affiliate of the Company,
      and
      such other costs and expenses as determined by the Board, in its sole
      discretion. During the Term, the Company shall promptly reimburse Executive
      for
      reasonable business expenses incurred by Executive in the performance of
      Executive’s duties on behalf of the Company or its present or future Affiliates,
      including, without limitation, reasonable travel and entertainment costs and
      expenses and costs and expenses of attending conferences, seminars and
      conventions related to the business of the Company or any present or future
      Affiliate of the Company; provided,
      that
      such expenses were incurred in the furtherance of the Company’s or an
      Affiliate’s business in accordance with the foregoing budget, and that Executive
      presents evidence of such expenses and costs as may be required under the
      policies of the Company as are then in effect.

    

    (B) Fringe
      Benefits.
      During
      the Term, to the extent eligible, Executive shall be entitled to those fringe
      benefits and perquisites that are now or in the future made available to other
      executives of the Company or its present or future Affiliates generally,
      including, without limitation, any health, accident, disability or other
      insurance, pension, benefit and/or retirement plan (including 401k) or welfare
      plan, as and when such benefit plans are established. The foregoing shall not
      require the Company or any present or future Affiliate of the Company to
      establish any such plan or program solely for Executive’s benefit. 

    

    (C) Directors’
      and Officers’ Liability Insurance.
      The
      Company shall use reasonable commercial efforts to procure directors’ and
      officers’ insurance in such form and amount and providing such coverage for
      Executive, in his capacity as Chief Financial Officer and Chief Operating
      Officer of the Company, as is customary for similarly situated executives
      serving in similar capacities, provided
      that the
      costs of such coverage are not substantially greater than those at companies
      engaged in similar business activities. 

    

    (D) Vacation.
      Executive shall be entitled to twenty (20) paid vacation days during each year
      of the Term at such times as are mutually agreed upon by Executive and
      Company.

    

    (E) Equity
      Incentive Plans.
      Executive may, at the discretion of the Board, be granted stock options or
      other
      incentive compensation under plans adopted by the Board for the benefit of
      the
      executives and key management personnel of the Company or any present or future
      Affiliate of the Company. Executive shall be entitled to receive a grant of
      stock options under the Company’s 2007 Stock Option Plan to purchase a total
      number of shares of the Company’s common stock equal to 22.5% of the total
      number of shares reserved for grant under such plan. The option agreement
      relating to such options shall include (i) customary cashless exercise
      provisions, (ii) accelerated vesting provisions in the event of (a) a Change
      of
      Control (as defined in Section 5) or (b) termination of the employment of
      Executive by the Company without Cause (as defined in Section 5) or resignation
      by Executive with Good Reason, and (iii) monthly vesting in equal monthly
      amounts over twenty-four months. Such options will be granted upon approval
      of
      the Board at the first meeting of the Board after the Effective Date. Executive
      shall be entitled to receive up to a total of 104,343 shares of the Company’s
      common stock as performance incentive shares upon the Company achieving certain
      budgeted performance targets for certain periods to be established by the Board
      and approved by the holders of the Senior Secured Notes of Associated Third
      Party Administrators, a California corporation.

    
      

      
        
          
          

        

        
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    (F) Location.
      Executive shall provide services at an office of the Company located in the
      New
      York City area, subject to reasonable travel requirements, it being the present
      intention of the Company to move its existing office in Fairfield, Connecticut
      to the New York City area. 

    

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

    

    (A) As
      used
      in this Agreement: 

    

    (i) The
      term
      "Disability" means the inability of Executive substantially to perform his
      duties and obligations under this Agreement for sixty (60) consecutive days
      or
      ninety (90) days in any one hundred eighty (180)-day period because of any
      mental or physical incapacity. 

    

    (ii) The
      term
      "Cause" means the adoption by the Board of a resolution finding that Executive
      has (a) engaged in any reckless or negligent misconduct that damages, in any
      material respect, the reputation, business or business relationships of the
      Company or any present or future Affiliate of the Company, (b) committed a
      fraud, embezzlement or other act of misappropriation against the Company or
      any
      present or future Affiliate of the Company, (c) been convicted by, or entered
      a
      plea of nolo contendere
      in, a
      court of competent and final jurisdiction for any crime involving moral
      turpitude, fraud, embezzlement, misappropriation or any other felony or crime
      punishable by imprisonment; (d) refused or failed to perform his duties
      hereunder or shall materially violate his duty of loyalty to the Company or
      any
      of its present or future Affiliates, provided that such refusal, failure or
      violation, if curable, is not cured within thirty (30) days after written notice
      of such refusal or failure is given by the Board to Executive, or (e) materially
      breached this Agreement or any other written agreement between Executive and
      the
      Company, or any Affiliate (as defined below) of the Company, that continues
      without cure for a period of thirty (30) days after written notice of such
      breach is given by the Board to Executive.

    

    (iii) The
      term
“Good Reason” means (a) any circumstance resulting in a material reduction in
      the Base Salary or duties and responsibilities of Executive or (b) any material
      breach by the Company of this Agreement or any other written agreement between
      Executive and the Company, or any Affiliate of the Company, that continues
      without cure for a period of thirty (30) days after written notice of such
      breach is given by Executive to the Company; provided,
      however,
      that in
      order for Good Reason to exist hereunder, the Executive must provide the Company
      with written notice of the event(s) alleged to constitute Good Reason within
      90
      days of the occurrence of such event(s) and Executive must terminate his
      employment within six months of such event.

    
      
        
        

      

      
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    (iv) The
      term
“Change of Control” means and shall have occurred or be deemed to have occurred
      only if any of the following events occur:

     

    (a) The
      acquisition, directly or indirectly, by any person or group (as those terms
      are
      defined in Sections 3(a)(9), 13(d) and 14(d) of the Securities Exchange Act
      (the
“Exchange Act”) and the rules thereunder) of beneficial ownership (as determined
      pursuant to Rule 13d-3 under the Exchange Act) of securities entitled to vote
      generally in the election of directors (voting securities) of the Company that
      represent 50% or more of the combined voting power of the Company’s then
      outstanding voting securities, other than (1) any such acquisition by any person
      or group that includes Executive; (2) an acquisition by a trustee or other
      fiduciary holding securities under any employee benefit plan (or related trust)
      sponsored or maintained by the Company or any person controlled by the Company
      or by any employee benefit plan (or related trust) sponsored or maintained
      by
      the Company or any person controlled by the Company; or (3) an acquisition
      of
      voting securities by the Company or a corporation owned, directly or indirectly
      by all of the stockholders of the Company in substantially the same proportions
      as their ownership of the stock of the Company.

     

    Notwithstanding
      the foregoing, the following event shall not constitute an acquisition by any
      person or group for purposes of this subsection (a): an acquisition of the
      Company’s securities by the Company which causes the Company’s voting securities
      beneficially owned by a person or group to represent 50% or more of the combined
      voting power of the Company’s then outstanding voting securities; provided,
      however,
      that if
      a person or group shall become the beneficial owner of 50% or more of the
      combined voting power of the Company’s then outstanding voting securities by
      reason of share acquisitions by the Company as described above and shall, after
      such share acquisitions by the Company, become the beneficial owner of any
      additional voting securities of the Company, then such acquisition shall
      constitute a Change of Control; or

     

    (b) Individuals
      who, as of the Effective Date, constitute the Board of the Company (as of the
      Effective Date, the “Incumbent Board”) cease for any reason to constitute at
      least a majority of the Board of the Company, provided that any person becoming
      a director subsequent to the Effective Date whose election, or nomination for
      election by the Company’s stockholders, was approved by a vote of at least a
      two-thirds of the directors then comprising the Incumbent Board (other than
      an
      election or nomination of an individual whose initial assumption of office
      is in
      connection with an actual or threatened election contest relating to the
      election of the directors of the Company) shall be, for purposes of this
      Agreement, considered as though such person were a member of the Incumbent
      Board; or

     

    (c) The
      consummation by the Company (whether directly involving the Company or
      indirectly involving the Company through one or more intermediaries) of (i)
      a
      merger, consolidation, reorganization, or business combination, or (ii) the
      acquisition of assets or stock of another entity, in each case other than a
      transaction:

    

      
        
          
          

        

        
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    (1) Which
      results in the Company’s voting securities outstanding immediately before the
      transaction continuing to represent (either by remaining outstanding or by
      being
      converted into voting securities of the Company or the person that, as a result
      of the transaction, controls, directly or indirectly, the Company or owns,
      directly or indirectly, all or substantially all of the Company’s assets or
      otherwise succeeds to the business of the Company (the Company or such person,
      the “Successor Entity”)) directly or indirectly, at least a majority of the
      combined voting power of the Successor Entity’s outstanding voting securities
      immediately after the transaction; and 

     

    (2) After
      which no person or group beneficially owns voting securities representing 50%
      or
      more of the combined voting power of the Successor Entity; provided,
      however,
      that no
      person or group shall be treated for purposes of this clause (B) as beneficially
      owning 50% or more of combined voting power of the Successor Entity solely
      as a
      result of the voting power held in the Company prior to the consummation of
      the
      transaction; or

     

    (d) a
      sale or
      disposition of all or substantially all of the Company’s assets; or

     

    (e) The
      Company’s stockholders approve a liquidation or dissolution of the
      Company.

     

    (v) The
      term
“Termination Date” shall mean the earlier of the expiration of this Agreement or
      the effective date of the Company’s termination of this Agreement.

    

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

    

    (i) In
      the
      event this Agreement is terminated prior to the expiration of the Term by the
      Company without Cause, or by Executive for Good Reason, the Company shall pay
      to
      Executive: (a) in a lump sum, within thirty (30) days after the Termination
      Date, Executive’s accrued but unpaid Base Salary as of the Termination Date; (b)
      in a lump sum, within thirty (30) days after the Termination Date, any earned
      but unpaid Bonus as of the Termination Date; (c) in a lump sum, within thirty
      (30) days after the Termination Date, an amount equal to any costs or expenses
      incurred by Executive prior to the Termination Date which are reimbursable
      pursuant to Section 4(A); (d) any amounts that would have been payable for
      Executive’s health insurance or any other benefit plans of the Company in which
      Executive participates (only to the extent allowable under law) through the
      remainder of the Term had Executive’s employment not been terminated, in
      accordance with the terms of the applicable health insurance policy or such
      other plan, but without duplication; and (e) within sixty (60) days after the
      Termination Date, a lump sum cash payment equal to the product of one week
      of
      the Base Salary in effect on the Termination Date multiplied by the number
      of
      full months that the Employee was employed by the Company or ATPA; provided,
      however,
      in no
      event shall Executive receive a payment under subparagraph (d) in an amount
      less
      than three months of the Base Salary in effect on the Termination
      Date.

    
      
        
        

      

      
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    (ii) If
      within
      twelve (12) months following a Change of Control occurring during the Term,
      the
      employment of Executive hereunder is terminated by the Company without Cause
      or
      Employee terminates his employment for Good Reason, the Company shall pay to
      Executive: (a) in a lump sum, within thirty (30) days after the Termination
      Date, Executive’s accrued but unpaid Base Salary as of the Termination Date; (b)
      in a lump sum, within thirty (30) days after the Termination Date, any earned
      but unpaid Bonus as of the Termination Date; (c) in a lump sum, within thirty
      (30) days after the Termination Date, an amount equal to any costs or expenses
      incurred by Executive prior to the Termination Date which are reimbursable
      pursuant to Section 4(A); (d) any amounts that would have been payable for
      the
      Executive’s health insurance or any other benefit plans of the Company in which
      Executive participates (only to the extent allowable by law) through the
      remainder of the Term had Executive’s employment not been terminated, in
      accordance with the terms of the applicable insurance policy or such other
      plan,
      but without duplication; and (e) within sixty (60) days after the Termination
      Date, a lump sum cash payment in an amount equal to one year’s Base Salary in
      effect on the Termination Date.

     

    (iii) If
      the
      Company or any present or future Affiliate of the Company (a) during the Term
      enters into a binding written agreement to engage in a transaction which, if
      consummated, would result in a Change of Control; (b) such transaction is
      consummated within twelve (12) months after the last date of the Term; and
      (c)
      subsequent to entering into such agreement the Company terminates the employment
      of Executive without Cause or Executive terminates his employment for Good
      Reason, the Company shall pay to Employee an amount equal to the payments set
      forth in Section 5(b)(ii) hereof.

    

    (iv) In
      the
      event this Agreement is terminated prior to the expiration of the Term by the
      Company for Cause or due to Executive’s death or Disability, the Company shall
      pay to Executive, within thirty (30) days after the Termination Date: (a) in
      a
      lump sum, an amount equal to Executive’s accrued but unpaid Base Salary and
      Bonus as of the Termination Date; (b) in a lump sum, reimbursement for any
      reimbursable business expenses incurred in accordance with this Agreement prior
      to the Termination Date; and (c) any amounts or benefits due through the
      Termination Date under this Agreement and any health insurance policy applicable
      to Executive or any other benefit plan of the Company in which Executive
      participates (only to the extent allowable under law) in accordance with the
      terms of such policy, but without duplication. 

    

    (v) As
      consideration for the payments under Sections 5(B)(i), (ii) or (iii), Executive
      shall execute and deliver to the Company a release of any and all claims against
      the Company and any Affiliate of the Company (excluding any claim for such
      payments) in form and substance reasonably satisfactory to the Company.
 

    

    (vi) If,
      at
      the time Executive’s employment with the Company is terminated, Executive is a
“specified employee” under section 409A of the Internal Revenue Code of 1986 (as
      amended, the “Code”) and payments herein would result in a violation of Section
      409A of the Code, any such payment shall be delayed until the first day after
      the six month anniversary of the date of such termination.

    

      
        
          
          

        

        
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    6. Non-Disclosure;
      Non-Competition and Non-Solicitation.

    

    (A) Non-Disclosure.
      Executive
      understands and agrees that the business of the Company is based upon
      specialized work and Confidential Information (as hereinafter defined).
      Executive agrees that he shall keep secret all Confidential Information and
      that
      he will not, directly or indirectly, use for his own benefit or for the benefit
      of others or Disclose (as hereinafter defined), without the prior written
      consent of the Company, any Confidential Information. At any time upon the
      Company’s request and upon the expiration or earlier termination of this
      Agreement, Executive shall turn over to the Company all books, notes, memoranda,
      manuals, notebooks, records and other documents made, compiled by, delivered
      to,
      or in the possession or control of Executive containing or concerning any
      Confidential Information, including all copies thereof, in any form or format,
      including any computer hard disks, wherever located, containing any such
      information, it being agreed that the same and all information contained therein
      are at all times the exclusive property of the Company.
      The
      provisions of this Section 6(A) shall survive for a period of three (3) years
      following the Termination Date. 

    

    As
      used
      in this Agreement, the term “Confidential Information” means any information or
      compilation of information not generally known to the public or the industry,
      that is proprietary or confidential to the Company, its Affiliates and/or those
      doing business with the Company and/or its Affiliates, including but not limited
      to know-how, processes, techniques, methods, plans, specifications, trade
      secrets, patents, copyrights, supplier lists, customer lists, mailing lists,
      financial information, business plans and/or policies, methods of operation,
      sales and marketing plans and any other information acquired or developed by
      Executive in the course of his past, present and future dealings with the
      Company, which is not readily available to the public. “Confidential
      Information” shall not include information that Executive can demonstrate was
      known to him prior to the Effective Date or that was made available to Executive
      by a third party without obligation of confidentiality. 

    

    As
      used
      in this Agreement, the term “Disclose” means to reveal, deliver, divulge,
      disclose, publish, copy, communicate, show, allow or permit access to, or
      otherwise make known or available to any third party, any of the Confidential
      Information. Notwithstanding any provision contained herein to the contrary,
      Disclosure of Confidential Information made pursuant to applicable law or the
      order of any court, agency or other governmental authority of competent
      jurisdiction shall not be a violation of this Section 6.

    

    (B) Non-Competition;
      Non-Solicitation.
      During
      the period (the “Restricted Period”) Commencing on the date hereof and ending on
      the second anniversary of the Termination Date, Executive covenants and agrees
      that he will not, without the Company’s prior written consent, directly or
      indirectly, either on behalf of himself or any other person, firm, corporation
      or other entity (other than on behalf of the Company or its
      Affiliates):

    

    (i) be
      employed by, own, manage, control, operate, advise or provide consulting
      services to any entity or individual that competes with the Company in the
      areas
      of Taft-Hartley
      pension plan administration and health and welfare claims processing in the
      geographical areas where the Company or any of its subsidiaries conducts
      business or proposes to conduct business (a “Competitive Business”);
provided,
      however,
      that,
      notwithstanding the foregoing, passive ownership of not more than one percent
      (1%) of the outstanding voting or other equity securities of a Competitive
      Business, the common stock or comparable equity securities of which are traded
      on a national securities exchange or in the over-the-counter market, shall
      not
      be a violation of this Section 6;

    

      
        
          
          

        

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

     

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

     

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

     

    As
      used
      in this Agreement, the
      term
“Affiliate” shall mean any
      entity controlling, controlled by or under the common control with the Company.
      For purposes of this Agreement, “control” shall mean the direct or indirect
      ownership of fifty (50%) percent or more of the outstanding equity securities
      or
      voting rights of an entity or possession, directly or indirectly, of the power
      to direct, or cause the direction of, the management and policies of an
      entity.

     

    (C) Injunctive
      Relief.
      If
      Executive shall breach or threaten to breach any of the provisions of this
      Section 6, in addition to and without limiting any other remedies available
      to Company at law or in equity, the Company shall be entitled, upon application
      to any court of competent jurisdiction, to immediate injunctive relief to
      restrain any such breach or threatened breach and to enforce the provisions
      of
      Section 6. Executive acknowledges and agrees that there is no adequate remedy
      at
      law for any such breach or threatened breach and, in the event that any
      proceeding is brought seeking injunctive relief, Executive shall not use as
      a
      defense thereto that there is an adequate remedy at law.

    

    7. Indemnification. The
      Company, on behalf of itself and its Affiliates, shall defend, indemnify and
      hold harmless Executive in his capacity as an officer and director of the
      Company and/or any of its Affiliates to the fullest extent permitted by
      applicable law against any losses or damages incurred by Executive in connection
      with any action, suit or proceeding to which Executive may be made a party
      by
      reason of his being or having been an officer or director of the Company or
      any
      of its Affiliates, or because of actions taken by Executive which were believed
      by Executive to be in the best interests of the Company and not in violation
      of
      applicable law, and Executive shall be entitled to be covered by any directors’
and officers’ liability insurance policies which the Company maintains for the
      benefit of its directors and officers, subject to the limitations of any such
      policies. The Company shall have the right to assume, with legal counsel of
      its
      choice, who shall be reasonably acceptable to Executive, the defense of
      Executive in any such action, suit or proceeding for which the Company is
      providing indemnification to Executive. Should Executive determine to employ
      separate legal counsel in any such action, suit or proceeding, any costs and
      expenses of such separate legal counsel shall be the sole responsibility of
      Executive. If the Company does not assume the defense of any such action, suit
      or proceeding, the Company shall, upon the request of Executive, promptly
      advance or pay any amount for costs or expenses, including the reasonable fees
      of counsel retained by Executive, incurred by Executive in connection with
      such
      action, suit or proceeding; provided
      that
      Executive agrees in writing to repay any such amounts advanced if it is
      ultimately determined by a court, administrative agency or other governmental
      authority having competent jurisdiction that Executive is not entitled to such
      indemnification. Executive shall be entitled to indemnification under this
      clause regardless of any subsequent amendment of the Certificate of
      Incorporation or By-Laws of the Company. 

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    

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

    

    9. General
      Provisions.

    

    (A) Notices.
      All
      notices and other communications under this Agreement shall be in writing and
      may be given by personal delivery, registered or certified mail, postage
      prepaid, return receipt requested or generally recognized overnight delivery
      service. Notices shall be sent to the appropriate party at that party's address
      set forth above or at such other address for that party as shall be specified
      by
      notice given under this Section. All such notices and communications shall
      be
      deemed received upon (a) actual receipt by the addressee or (b) actual delivery
      to the appropriate address. Copies of notices hereunder shall be sent as
      follows: If to Executive, to: 315 East 72nd
      Street,
      Apartment 18H, New York, New York 10021 fax no. [_________], attention: Leonard
      Neuhaus; and if to the Company, to: United Benefits & Pension Services,
      Inc., 501 Kings Highway East, Suite 108, Fairfield, Connecticut
      06825.

    

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

    

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

    

    (D) Certain
      Tax Provisions.
      In
      the
      event of any inconsistency between any provision of this Agreement and Section
      409A of the Internal Revenue Code of 1986 (as amended, the “Code”),
      including any regulatory and administrative guidance issued from time to time
      thereunder, the provisions of Section 409A shall control. It is the intention
      of
      the parties hereto that this Agreement satisfy the requirements of Code Section
      409A, and the parties hereby agree to amend this Agreement as and when necessary
      or desirable to conform to or otherwise properly reflect any guidance issued
      under Code Section 409A after the date hereof without violating Code Section
      409A. In case any one or more provisions of this Agreement fails to comply
      with
      the provisions of Code Section 409A, the remaining provisions of this Agreement
      shall remain in effect, and this Agreement shall be administered and applied
      as
      if the non-complying provisions were not part of this Agreement. The parties
      in
      that event shall endeavor to agree upon a reasonable substitute for the
      non-complying provisions, to the extent that a substituted provision would
      not
      cause this Agreement to fail to comply with Code Section 409A, and, upon so
      agreeing, shall incorporate such substituted provisions into this
      Agreement. 

    

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

    

     

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

    

    (F) Governing
      Law; Arbitration.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of New York applicable to agreements made and to be performed in that
      state, without regard to any of its principles of conflicts of laws or other
      laws that would result in the application of the laws of another jurisdiction.
      This Agreement shall be construed and interpreted without regard to any
      presumption against the party causing this Agreement to be drafted. Each of
      the
      parties hereby unconditionally and irrevocably waives the right to a trial
      by
      jury in any action, suit or proceeding arising out of or relating to this
      Agreement or the transactions contemplated hereby. All disputes relating in
      any
      way to this Agreement shall be resolved exclusively through arbitration
      conducted in accordance with the Commercial Arbitration Rules of the American
      Arbitration Association as then in effect. The arbitration hearing shall be
      held
      in New York, New York and shall be before a single arbitrator selected by the
      parties in accordance with the Commercial Arbitration Rules of the American
      Arbitration Association pursuant to its rules on selection of arbitrators.
      Any
      arbitrator selected shall have reasonable experience as an arbitrator relating
      to the dispute at issue. The arbitrator shall render a formal, binding
      non-appealable resolution and award on each issue as expeditiously as possible
      but not more than thirty days after the hearing. All discovery disputes shall
      be
      resolved by the arbitrator. The prevailing party in the arbitration shall be
      entitled to reimbursement of its reasonable attorneys fees, and the parties
      shall use all reasonable efforts to keep arbitration costs to a
      minimum.

    

    (G) Counterparts.
      This
      Agreement may be executed in counterparts, both of which shall be considered
      an
      original, but both of which together shall constitute the same
      instrument.

    

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

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    

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

    

    
      	
              UNITED
                BENEFITS & PENSION SERVICES, INC.

            
	 	 
	
              By:
                

            	
              /s/
                Richard Stierwalt 
                

              

            
	
              Name:
                Richard
                Stierwalt

            
	
              Title:
                Chief
                Executive Officer

            
	 	 
	
              /s/
                Leonard Neuhaus
                

              

            
	
              Leonard
                Neuhaus

            

    

    

    [SIGNATURE
      PAGE – NEUHAUS EMPLOYMENT AGREEMENT]

     

    
      
        
        

      

      
        12Exhibit
      10.12

     

    CONSULTING
      AGREEMENT

     

    THIS
      CONSULTING AGREEMENT (this “Agreement”), dated as of December 17, 2007, by and
      between Thomas Mackell, an individual residing at
      _________________________________ (the “Consultant”), and United Benefits &
Pension Services, Inc., a Delaware corporation having an address at 501 Kings
      Highway East, Suite 108, Fairfield, Connecticut 06825 (the
“Company”).

     

    WITNESSETH

     

    WHEREAS
      the
      Company was formed to create a national third party pension and benefit
      administration services company specializing in servicing Taft-Hartley
      multi-employer benefit plans (the “Business”) through a strategy of acquiring
      regional Taft-Hartley third party pension and benefit administration services
      companies;

     

    WHEREAS
      the
      Consultant has extensive experience in the financial services industry and
      the
      benefits and pension plan administration business;

     

    WHEREAS
      the
      Company desires to engage the Consultant, and the Consultant desires to be
      engaged by the Company, upon the terms and conditions set forth herein;
      and

     

    WHEREAS
      the
      Company has entered into an Agreement and Plan of Merger, dated as of November
      30, 2007, among the Company, UBPS Acquisition Sub, Inc. (the “Subsidiary”) and
      Associated Third Party Administrators, a California corporation (“ATPA”),
      pursuant to which the Company will acquire ATPA, a pension administration and
      benefit services company specializing in serving the Taft-Hartley multi-employer
      plan market, through the merger of Subsidiary with and into ATPA and, as a
      result, ATPA will become a wholly-owned Subsidiary of the Company (the “ATPA
      Acquisition”);

     

    NOW,
      THEREFORE,
      the
      parties hereto hereby agree as follows:

     

    1. Consulting
      Relationship.

     

    1.1 Scope
      of Engagement.
      Effective upon the Effective Date (as hereinafter defined), the Company, on
      behalf of itself, ATPA, any future subsidiary of the Company or its successors
      and assigns, hereby engages the Consultant, and the Consultant hereby agrees
      to
      be engaged by the Company, ATPA, any future subsidiary of the Company or its
      successors and assigns, to perform the services set forth in Appendix I hereto
      (the “Services”).

     

    1.2 Consulting
      Term.
      The
      term of this Agreement (the “Consulting Term”) shall be two years, commencing on
      the date of, and immediately following, the closing of the ATPA Acquisition
      (the
“Effective Date”), unless sooner terminated in accordance with this Agreement.
      If the parties mutually agree, in writing, this Agreement may be extended for
      subsequent terms of one (1) year each, unless sooner terminated in accordance
      with the provisions of Section 5. 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    1.3 Standards
      of Performance.
      The
      Consultant agrees to provide the Services to the best of his ability and in
      accordance with the highest professional standards. The Consultant shall devote
      such amount of his time to the performance of the Services as is reasonably
      necessary to perform his duties under this Agreement. The Consultant
      acknowledges that this is a personal services agreement, and the Consultant
      shall not employ, retain, engage, hire, subcontract with, or otherwise use
      any
      third party or third parties to perform the Services without the prior written
      consent of the Company, which consent may be withheld for any reason or for
      no
      reason, in the sole discretion of the Company. 

     

    2. Compensation.

     

    2.1 Consulting
      Charges.
      As
      compensation for the Consultant’s provision of the Services, the Company, its
      successors or assigns, either directly or through ATPA or any future subsidiary
      of the Company, shall pay to the Consultant the amounts set forth on Appendix
      II
      hereto (the “Consulting Charges”), subject to and payable upon the acquisition
      by the Company, ATPA or any future subsidiary of the Company or its successors
      or assigns of any Introduced Acquisition Targets (as defined in Appendix I),
      whether by asset purchase, merger, stock purchase or otherwise; provided,
      however,
      that
      the amount of Consulting Charges payable to the Consultant as set forth in
      Appendix II shall be reduced by the amount of any fees or commissions payable
      by
      the Company, ATPA or any future subsidiary of the Company, or its successors
      or
      assigns, to any broker or finder retained by the Company, ATPA or such other
      subsidiary or its successors or assigns in connection with the acquisition
      of
      the Introduced Acquisition Target with respect to which such Consulting Charges
      are due. The Consulting Charges shall be payable in cash and shares of common
      stock of the Company (the “Shares”), in the proportions set forth in Appendix
      II. The number of Shares to be issued to the Consultant in accordance with
      Appendix II, shall be calculated by dividing (x) the dollar amount of the
      Consulting Charges payable to the consultant in Shares by (y) the Current Market
      Price (as defined below) per share of the Company’s common stock.
      Notwithstanding the foregoing, upon the closing of the ATPA Acquisition, the
      Company, its successors or assigns shall pay to the Consultant a Consulting
      Charge in connection with the ATPA Acquisition in the amount of $150,000,
      payable in its entirety by the issuance to the Consultant of 60,000 Shares,
      it
      being understood and agreed that no other Consulting Charge or other fees shall
      be payable to the Consultant in connection with the ATPA Acquisition.

     

    For
      the
      purpose of any computation under this Section 2.1, the “Current Market Price”
per share of the Company’s common stock on any date shall be deemed to be the
      average of the daily closing prices for the 30 consecutive trading days
      immediately preceding the date in question. The closing price for each day
      shall
      be the last reported sales price regular way or, in case no such reported sales
      takes place on such day, the closing bid price regular way, in either case
      on
      the principal national securities exchange (including, for purposes hereof,
      any
      national market of the Nasdaq Stock Market) on which the Company’s common stock
      is listed or admitted to trading or, if the Company’s common stock is not listed
      or admitted to trading on any national securities exchange, the closing price
      or
      the highest reported bid price for the common stock on the OTC Bulletin Board
      or
      a similar organization if the Company’s Common Stock is no longer listed on the
      OTC Bulletin Board. If on any such date the Company’s Common Stock is not listed
      or admitted to trading on any national securities exchange and is not quoted
      on
      the OTC Bulletin Board or any similar organization, the “Current Market Price”
will be the fair value of a share of the Company’s common stock on such date, as
      determined in good faith by the board of directors of the Company (with the
      Consultant not participating in such determination), whose determination shall
      be conclusive absent manifest error. 

    
      
        
        

      

      
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          2
          -

        
          

        

      

      
        
        

      

    

    2.2 The
      Shares; Repurchase of the Shares The
      Consultant acknowledges that the Shares will not be registered under any Federal
      or state securities laws, that the Consultant would be acquiring such Shares
      for
      his own account, for investment purposes only and not for distribution or
      resale, that there may be no market for the Shares and that the certificates
      evidencing such Shares shall bear the following legend or a legend of similar
      effect:

     

    “THE
      SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED
      OR
      HYPOTHECATED UNLESS THE REGISTRATION PROVISIONS OF SAID ACT OR APPLICABLE STATE
      LAW HAVE BEEN COMPLIED WITH OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF
      ITS
      COUNSEL OR AN OPINION OF OTHER COUNSEL SATISFACTORY TO THE COMPANY AND ITS
      COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED.”

     

    2.3 In
      connection with the financing transactions to be consummated to fund the ATPA
      Acquisition, the Consultant agrees to sign an agreement to the effect that,
      without the prior written consent of the placement agents in such financings,
      he
      will not, for a period of one year after the date of completion of such
      financings, directly or indirectly, offer, pledge, sell, contract to sell,
      sell
      any option or contract to purchase, grant any option, right or warrant to
      purchase, lend or otherwise transfer or dispose of any shares of the Company’s
      common stock (including, without limitation, the Shares) or any securities
      convertible into or exercisable for the Company’s common stock. In addition, the
      Consultant covenants and agrees not to transfer, assign or otherwise convey
      any
      interest in such Shares without the prior written consent of the Company within
      90 days prior to a Fundamental Event (as hereinafter defined); provided,
      however,
      that
      such period may be subject to extension in accordance with the Company’s insider
      trading policies including in the event that the Company is a public company
      required to file reports under the Securities and Exchange Act of 1934, as
      amended.

     

    2.4 Upon
      termination of the Consultant’s Services under this Agreement prior to a
      Fundamental Event, the Company, its successors or assigns may for any reason
      or
      for no reason, in the sole discretion of the Company, its successors or assigns,
      require the Consultant to sell all of the Shares paid to Consultant pursuant
      to
      this Agreement back to the Company, its successors or assigns, or its designee
      for a price per share equal to the Current Market Price per share (as defined
      and determined in Section 2.1) on the date of such termination. 

     

    
      
        
        

      

      
        -
          3
          -

        
          

        

      

      
        
        

      

    

    2.5 For
      purposes of this Section 2.2, the term “Fundamental Event” shall mean the
      consummation by the Company (whether directly involving the Company or
      indirectly involving the Company through one or more intermediaries) of (i)
      a
      merger, consolidation, reorganization, or business combination, or (ii) the
      acquisition of assets or stock of another entity, in each case other
      than
      a
      transaction (y) which results in the Company’s voting securities outstanding
      immediately before the transaction continuing to represent (either by remaining
      outstanding or by being converted into voting securities of the Company or
      the
      person that, as a result of the transaction, controls, directly or indirectly,
      the Company or owns, directly or indirectly, all or substantially all of the
      Company’s assets or otherwise succeeds to the business of the Company (the
      Company or such person, the “Surviving Entity”)) directly or indirectly, at
      least a majority of the combined voting power of the Surviving Entity’s
      outstanding voting securities immediately after the transaction; and (z) after
      which no person or group beneficially owns voting securities representing 50%
      or
      more of the combined voting power of the Successor Entity; provided,
      however,
      that no
      person or group shall be treated for purposes of this clause as beneficially
      owning 50% or more of combined voting power of the Successor Entity solely
      as a
      result of the voting power held in the Company prior to the consummation of
      the
      transaction.

     

    2.6 Reimbursement
      of Expenses.
      The
      Company, ATPA, any future subsidiary of the Company or its successors or assigns
      shall reimburse the Consultant for his reasonable travel, lodging, meals and
      other reasonable expenses (including, without limitation, reasonable expenses
      for entertainment of Potential Acquisition Targets) incurred in furtherance
      of
      providing the Services hereunder, subject to the Consultant’s submission of an
      itemized statement (the “Expense Statement”) of such expenses, signed by the
      Consultant and stating that the expenses set forth in such Expense Statement
      were incurred in furtherance of providing the Services hereunder, together
      with
      copies of receipts, invoices, paid bills or similar documentation substantiating
      the expenses set forth in such Expense Statement. Expenses for which
      reimbursement will be sought which, individually or aggregated with all other
      expenses incurred from the last reimbursable expense paid by the Company, exceed
      $5,000 shall require the prior written consent of the Company, which consent
      may
      be withheld for any reason or for no reason in the sole discretion of the
      Company.

     

    3. Exclusivity;
      Non-Solicitation; Confidentiality

     

    3.1 Exclusivity.
      The
      Consultant shall render the Services exclusively to and for the benefit of
      the
      Company, ATPA or any future subsidiary of the Company or its successors and
      assigns during the Consulting Term. During the Consulting Term and for a period
      of one (1) year after the termination or expiration thereof, the Consultant
      shall not, without the Company’s prior written consent, which consent may be
      withheld by the Company for any reason or for no reason, in its sole
      discretion:

     

    (a)
      act
      as a consultant , broker or finder for, or otherwise provide, directly or
      indirectly, services similar to the Services to any direct or indirect
      competitor of the Company or any entity or individual (a “Person”) other than
      the Company, ATPA or any future subsidiary of the Company or its successors,
      or
      assigns (a “Third Party”), engaged in a business similar to the Business, or any
      aspect thereof; or 

     

    (b)
      introduce to any Third Party doing business anywhere in the United States any
      Person that is engaged in a business similar to the Business or that may
      otherwise be suitable for acquisition by the Company ATPA or any future
      subsidiary of the Company, its successors or assigns, as determined by the
      Company, in its sole discretion.

     

    
      
        
        

      

      
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          4
          -

        
          

        

      

      
        
        

      

    

    3.2 Non-Solicitation.
      In
      recognition of the considerations described in Section 3.5 of this Agreement,
      and that the following covenant is a specific condition for engagement of
      Consultant, Consultant covenants and agrees, on behalf of himself and his
      affiliates, that during the Consulting Term and for a period of one (1) year
      after the termination or expiration thereof, neither the Consultant nor any
      of
      his affiliates will directly or indirectly, either alone or in association
      with
      others: 

     

    (a)
      recruit, solicit or induce, or attempt to induce, any employee, agent or
      consultant of the Company, its subsidiaries, affiliates, successors or assigns
      to terminate his or her employment or engagement or to otherwise sever their
      relationship with the Company, its subsidiaries, affiliates, successors or
      assigns;

     

    (b)
      solicit for employment, hire or engage as an independent contractor, or agree
      to
      hire or engage as an independent contractor, any individual who was employed
      by
      the Company, its subsidiaries, affiliates, successors or assigns at any time
      during the Consulting Term other than an individual whose employment with the
      Company terminated six (6) months or longer prior to the Consultant’s
      solicitation, hiring, engagement of, or agreement to hire or engage, such
      individual;

     

    (c)
      solicit, divert, take away, terminate or reduce or attempt to divert, take
      away,
      terminate or reduce the business or patronage of any Person who was a clients,
      customer or account, or prospective client, customer or account, of the Company
      or any of its subsidiaries, affiliates, successors or assigns during the
      Consulting Term; or 

     

    (d)
      acquire, or assist, advise or encourage any Third Party in acquiring, directly
      or indirectly, (w) control of any Potential Acquisition Target (as hereinafter
      defined) or (x) any interest in a Potential Acquisition Target’s securities,
      business or assets or (y) finance any such acquisition to be made by any Third
      Party or (z) enter into any discussion, negotiations, or arrangements with
      any
      Third Party with respect to any of the foregoing. 

     

    3.3 For
      purposes of this Agreement, the phrase “prospective client, customer or account”
shall mean a Person whom the Company, its subsidiaries, affiliates, successors
      or assigns, at some time during the Consulting Term, solicits or intends or
      prepares to solicit as a customer, client or account of the Company, its
      subsidiaries, affiliates, successors or assigns either in person or by
      customized written materials prepared at the request or with the consent of
      such
      individual or entity during the Consulting Term. With respect to entities
      consisting of more than one business unit, a “prospective client, customer or
      account” shall be limited to the business units to which the Company, its
      subsidiaries, affiliates, successors or assigns addressed, or intends or
      prepares to address, its solicitation. 

     

    
      
        
        

      

      
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          5
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    3.4 For
      purposes of this Agreement, the term “Potential Acquisition Target” shall mean
      any entity or business that the Company, its subsidiaries, affiliates,
      successors or assigns potentially may acquire or is possibly considering
      acquiring.

     

    3.5 Confidentiality.
      Consultant acknowledges that he has been and, in the course of providing the
      Services, will be provided access to Proprietary Information (as hereinafter
      defined) concerning the Company its subsidiaries, affiliates, successors and
      assigns. The Consultant shall keep confidential the Proprietary Information
      and
      shall not use or disclose such Proprietary Information to any Third Party for
      any purpose, except when and to the extent required in providing the Services.
      In the event of the termination of the Consultant’s consulting relationship with
      the Company, ATPA or any future subsidiary or its successors or assigns the
      Consultant will upon request deliver to the Company, ATPA or any future
      subsidiary or its successors or assigns or destroy and erase (and certify to
      the
      Company, ATPA or any future subsidiary or its successors or assigns as to such
      destruction and erasure), all documents, irrespective of who prepared or created
      such document, containing any Proprietary Information. 

     

    3.6 As
      used
      herein, the term “Proprietary Information” shall mean information or data of the
      Company, its subsidiaries, affiliates, successors or assigns whether oral or
      written, including, without limitation, information or data in an electronic
      or
      other intangible medium, and whether or not labeled or otherwise designated
      “proprietary” or “confidential” or with words of similar effect, including,
      without limitation, trade secrets, customer lists, contracts (including the
      details and provisions thereof), the identity of acquisition targets (whether
      introduced by the Consultant or otherwise) or Potential Acquisition Targets,
      acquisition plans, business plans, marketing plans, pricing, budgets,
      unpublished financial statements, strategies, forecasts, processes, formulae,
      data and know-how, improvements, inventions, techniques, computer programs
      (source and object codes), memoranda, notes, reports, and customer and employee
      lists. Notwithstanding the foregoing, the term “Proprietary Information” shall
      not include (i) any information that is generally available to the public and
      easily accessible from sources other than the Company, its subsidiaries,
      affiliates, successors or assigns (ii) any information received by the
      Consultant from a third party without obligation of confidentiality, other
      than
      information received from a Potential Acquisition Target during the course
      of
      any discussions or negotiations between the Company, its successors or assigns
      and such Potential Acquisition Target or in connection with the Services or
      (iii) any information the Consultant can demonstrate was developed independently
      by the Consultant without the use of confidential information of the Company.
      

     

    3.7 The
      parties acknowledge that Consultant’s breach of the covenants in this Agreement
      would cause irreparable damage to the Company, its subsidiaries, affiliates,
      successors and/or assigns for which monetary damages would not be adequate.
      Accordingly, the parties agree that, in the event of a breach, or a threatened
      breach, by Consultant of any of the covenants contained in this Agreement,
      the
      Company, its subsidiaries, affiliates, successors or assigns shall be entitled
      to obtain from any court of competent jurisdiction specific performance of
      this
      Agreement as a remedy for such actual or threatened breach of this Agreement,
      which remedy shall be in addition to all other remedies available to the
      Company, its subsidiaries, affiliates, successors or assigns at law or equity.
      The Consultant hereby consents to the entry of a temporary restraining order
      or
      preliminary or ex parte injunction enjoining the Consultant from breaching
      or
      further breaching, as the case may be, this Agreement, in addition to any other
      remedies available at law or equity, to enforce the provisions
      hereof.

     

    
      
        
        

      

      
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          6
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    3.8 If
      any
      restriction set forth in this Section 3 is held by any court of competent
      jurisdiction to be unenforceable or invalid because of the duration of such
      provision or the scope of activities or geographic area covered thereby, then
      the duration, scope of activities and/or geographical area of such provision
      shall be deemed to be limited to the extent necessary, and only to such extent,
      to make such provision valid and enforceable. 

     

    3.9 The
      provisions of this Section 3 shall survive the termination of this
      Agreement.

     

    4. Independent
      Contractor Status; Taxes; Compliance with Laws 

     

    4.1 The
      parties hereby acknowledge that the Consultant is being retained as an
      independent contractor and neither the Consultant, nor any of his agents, shall
      be deemed employees of the Company, its subsidiaries, affiliates, successors
      or
      assigns. The Consultant shall be responsible for determining the manner and
      means by which the Consultant performs the duties and responsibilities assigned
      to the Consultant under this Agreement. Nothing in this Agreement shall be
      construed to create a joint venture, agency or partnership relationship between
      the parties.

     

    4.2 The
      Consultant shall be solely responsible for the payment of all income and other
      taxes relating to his compensation hereunder and he acknowledges that no payroll
      or employment taxes of any kind shall be withheld or paid by the Company, its
      subsidiaries, affiliates, successors or assigns with respect to any payments
      to
      the Consultant. 

     

    4.3 The
      Consultant acknowledges that any Shares issued to Consultant pursuant to this
      Agreement may constitute taxable income for the tax year in which such Shares
      are issued to the Consultant and the Consultant agrees that he shall be solely
      liable for payment of any taxes which may be imposed on the Consultant by any
      Federal, state or local taxing authority in connection with the issuance to
      the
      Consultant of such Shares. 

     

    4.4 The
      Consultant shall comply with all applicable laws and regulations in the
      performance of the Services.

     

    5. Early
      Termination.
      The
      Consulting Term shall terminate upon the occurrence of any of the
      following:

     

    5.1 At
      the
      election of either party by giving not less than 30 days’ prior written notice
      to the other;

     

    5.2 At
      the
      election of the Company, its successors or assigns, for Cause (as hereinafter
      defined), immediately upon written notice by the Company to the Consultant.
      For
      purposes of this Section 5, “Cause” for termination shall be deemed to exist
      upon a good faith finding by the Company that the Consultant:

     

    (a)
      failed or refused to perform the Services; 

     

    
      
        
        

      

      
        -
          7
          -

        
          

        

      

      
        
        

      

    

    (b)
      has
      been repeatedly inattentive to the performance of the Services;

     

    (c)
      failed or refused to follow the reasonable requests of the Company, its
      successors or assigns hereunder; 

     

    (d)
      committed any act involving dishonesty, fraud or moral turpitude [in the
      performance of the Services]; 

     

    (e)
      engaged in misconduct or gross negligence in the performance of the Services;
      

     

    (f)
      has
      been convicted of, or entered a plea of guilty or nolo contendere with respect
      to, a felony; 

     

    (g)
      engaged in conduct of a criminal nature which has, or may have, a material
      adverse effect on the business or reputation of the Company, its subsidiaries,
      affiliates, successors or assigns, or 

     

    (h)
      materially breached this Agreement. 

     

    With
      respect to any alleged act or occurrence constituting “Cause” within subsection
      5.2(a), (b), (c) or (h), the Consultant shall not be deemed to have been
      terminated for Cause unless the Consultant has been provided with notice of
      the
      circumstances giving rise to the determination that such Cause exists and the
      Consultant fails to cure the act or occurrence giving rise to such “Cause” (but
      only to the extent curable in full) within 15 days of such notice, unless an
      earlier cure period is necessary to avoid material adverse harm to the Company,
      its subsidiaries, affiliates, successors or assigns;

     

    5.3 Upon
      the
      death or Disability of the Consultant. As used in this Agreement, the term
      “Disability” shall mean the inability of the Consultant, with reasonable
      accommodation to the extent required by State or Federal law, due to a physical
      or mental illness or injury, to substantially perform the Services for a period
      of either (i) ninety (90) consecutive days during or (ii) ninety (90)
      non-consecutive days during any 360-day period. 

     

    5.4 A
      determination of the existence of a Disability shall be made by a physician
      designated by the Company, its successors or assigns. Consultant
      agrees
      to
      make himself available and to cooperate in any reasonable examination by a
      physician selected by the Company, its successors or assigns for the purpose
      of
      determining disability pursuant to Section 5.3.
      

     

    6. Effect
      of Termination.

     

    6.1 In
      the
      event the Consultant’s engagement hereunder is terminated by the Company, its
      successors or assigns for Cause pursuant to Section 5.2 or at the election
      of
      the Consultant pursuant to Section 5.1, the Company, its successors or assigns
      shall:

     

    (a)
      reimburse the Consultant for accrued expenses pursuant to Section
      2.3;

     

    
      
        
        

      

      
        -
          8
          -

        
          

        

      

      
        
        

      

    

    (b)
      pay
      to the Consultant any accrued and unpaid Consulting Charges with respect to
      acquisitions which have closed prior to the date of such
      termination;

     

    and
      the
      Consultant shall not be entitled to any further compensation from the Company,
      its successors or assigns . 

     

    6.2 Upon
      the
      expiration of the Consulting Term or in the event that this Agreement is
      terminated by reason of the Consultant’s death or Disability pursuant to Section
      5.3, or by the Company other than for Cause, the Company, its successors or
      assigns shall: 

     

    (a)
      pay
      to the Consultant or his estate, as the case may be, the Consulting Charges
      that
      would otherwise be payable to the Consultant up to the date of such termination,
      death or Disability;

     

    (b)
      reimburse the Consultant for any expenses incurred up to the date of such
      termination, death or Disability pursuant to Section 2.3; and

     

    (c)
      to
      the extent the Consultant has introduced an acquisition target to the Company,
      its successors or assigns and the Company, ATPA, any future subsidiary of the
      Company or its successor or assign closes such acquisition within six months
      of
      the date of such termination, death or disability, then the Company, its
      successor or assign shall pay to the Consultant or his estate, as the case
      may
      be, the Consulting Charges with respect to such acquisition that would otherwise
      be payable to the Consultant;

     

    provided,
      that
      all payments required by this Section 6.2 shall be subject to receipt by the
      Company, its successors and assigns of (y) a general release executed by the
      Consultant or his estate, as the case may be, releasing the Company, its
      subsidiaries, affiliates, successors, assigns, and each of their respective
      directors, officers and employees, and (z) a severance agreement executed by
      the
      Consultant or his estate, as the case may be, in a form prepared by and
      satisfactory to counsel for the Company, its successors or assigns.

     

    7. Exculpation;
      Indemnification.
      

     

    7.1 The
      Consultant shall not be liable to the Company for any damages, losses, claims
      or
      liabilities incurred by the Company or any third party resulting from the
      performance of the Services by the Consultant or the actions or omissions of
      the
      Consultant in connection therewith, provided,
      however,
      that
      the Consultant shall be liable for, and shall defend, indemnify and hold
      harmless the Company, its affiliates, subsidiaries, successors, assigns, and
      each of their respective directors, officers and employees from and against,
      any
      and all claims, losses, damages, injuries, liabilities, costs and expenses
      arising from the Consultant’s gross negligence, willful misconduct, or breach of
      this Agreement. 

     

    7.2 The
      Company, to the extent permitted by Delaware law, or the Company’s successors or
      assigns, to the extent permitted by the law of the jurisdiction in which such
      successor or assign subsists, shall indemnify, defend and hold harmless the
      Consultant from and against any and all claims, losses, damages, injuries,
      liabilities, costs and expenses claimed by any third party resulting from the
      performance of the Services by the Consultant or the actions or omissions of
      the
      Consultant in connection therewith, provided
      that the
      Consultant has acted in good faith and in a manner reasonably believed to be
      in
      the best interests of the Company, and provided
      further
      that the
      Company, its successors or assigns shall not be obligated to indemnify the
      Consultant for any claims, losses, damages, injuries, liabilities, costs or
      expenses arising from the Consultant’s gross negligence, willful misconduct or
      breach of this Agreement.

     

    
      
        
        

      

      
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          9
          -

        
          

        

      

      
        
        

      

    

    8. Binding
      Effect.
      The
      terms and provisions of this Agreement shall be binding upon, and inure to
      the
      benefit of, the Consultant and the Company and their respective successors
      and
      permitted assigns.

     

    9. Assignment.
      This
      Agreement is personal as to the Consultant and shall not be assigned by the
      Consultant without the prior written consent of the Company, which consent
      may
      be withheld by the Company for any reason or for no reason, in its sole
      discretion. The Company shall have the right to assign this Agreement to any
      corporation or other entity (including without limitation, ATPA), which (i)
      controls, is controlled by, or is under common control with the Company (ii)
      succeeds to the assets of the Company as a result of a merger, consolidation
      or
      other reorganization involving the Company. 

     

    10. Governing
      Law.
      This
      Agreement shall be governed by and construed and enforced in accordance with
      the
      laws of the State of New York, without giving effect to its conflict of laws
      principles. Any dispute arising out of or relating to this Agreement shall
      be
      resolved exclusively by state or federal courts sitting in New York County,
      State of New York. Each party hereby irrevocably submits to the jurisdiction
      of
      any such court and waives any objection to such jurisdiction, including, without
      limitation, the defenses of inconvenient forum and lack of personal
      jurisdiction.

     

    11. Notices.
      All
      notices, requests, demands and other communications hereunder shall be in
      writing and given by hand delivery, by nationally recognized overnight courier
      service or by certified or registered mail, postage prepaid, return receipt
      requested, to the respective addresses set forth in the preamble to this
      Agreement or to such other address as either party may designate by written
      notice to the other party.

     

    12. Severability.
      If any
      covenant, condition or other provision of this Agreement is held by a court
      of
      competent jurisdiction to be invalid or unenforceable, such invalidity or
      unenforceability shall not affect any of the remaining covenants, conditions
      or
      provisions hereof, and such remaining covenants, conditions and provisions
      of
      this Agreement shall continue in full force and effect.

     

    13. Entire
      Agreement; Amendment.
      This
      Agreement, including the Appendices hereto, sets forth the entire agreement
      and
      understanding among the parties as to the subject matter hereof and merges
      and
      supersedes all prior discussions, agreements and understandings of every kind
      and nature among them with respect to such subject matter. There are no
      representations or understandings between the parties except as provided herein.
      This Agreement may not be amended or modified except by a written amendment
      duly
      executed by the parties.

     

    
      
        
        

      

      
        -
          10
          -

        
          

        

      

      
        
        

      

    

    14. Captions.
      Captions contained in this Agreement have been inserted for convenience of
      reference only and in no way define, interpret or limit the terms of this
      Agreement, or any of the provisions hereof.

     

    15. Counterparts.
      This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      deemed an original, but all of which together shall constitute one and the
      same
      instrument. 

     

    IN
      WITNESS WHEREOF,
      the
      parties have caused this Agreement to be executed on the date first above
      written.

     

    
      	 	
              COMPANY:

            
	 	 
	 	
              UNITED
                BENEFITS & PENSION SERVICES, INC.

            
	 	 
	 	 
	 	
              By:

            	
              /s/
                Richard Stierwalt 
                

              

            
	 	 	
              Richard
                Stierwalt

              Chief
                Executive Officer

            
	 	 
	 	
              CONSULTANT:

            
	 	 
	 	 
	
            	
                 /s/
                Thomas Mackell
                
                

              

                            Thomas
                Mackell

            

    

     

    
      
        
        

      

      
        -
          11
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    APPENDIX
      I TO CONSULTING AGREEMENT

     

    DESCRIPTION
      OF SERVICES:

     

    The
      Consultant shall perform the following services on behalf and for the benefit
      of
      the Company, ATPA, any future subsidiary of the Company or its successors or
      assigns:

     

    
      	
              1.

            	
              Provide
                ATPA, any future subsidiary of the Company or its successors or assigns
                with introductions to potential acquisition
                targets;

            

    

    

    
      	
              2.

            	
              Participate
                in discussions between the Company, ATPA, any future subsidiary of
                the
                Company or its successors or assigns, and Potential Acquisition Targets
                which have been introduced to the Company, ATPA, any future subsidiary
                of
                the Company or its successors or assigns by the Consultant in connection
                with the Services (an “Introduced Acquisition Target”) as requested by the
                Company, ATPA, any future subsidiary of the Company or its successors
                or
                assigns.

            

    

    

    
      	
              3.

            	
              Between
                the execution of a binding or non-binding letter of intent between
                the
                Company, ATPA, any future subsidiary of the Company or its successors
                or
                assigns, on one hand, and any Introduced Acquisition Target, on the
                other
                hand, and prior to the closing of the transactions contemplated thereby,
                meet with any clients representing more than 5% of the gross revenue
                of
                such Introduced Acquisition Target, including, without limitation,
                such
                client’s directors, trustees, chairman, union president or other members
                of such client’s senior management as the Company, ATPA, any future
                subsidiary of the Company or its successors or assigns, may deem
                necessary
                or appropriate, to insure that such client will continue to engage
                the
                Introduced Acquisition Target (or such other entity as may succeed
                to the
                assets and business of the Introduced Acquisition Target following
                the
                contemplated acquisition) after the consummation of the transaction
                contemplated by the letter of intent;

            

    

    

    
      	
              4.

            	
              Assist
                in responding to questions of any Introduced Acquisition Target,
                its
                officers, directors or principal shareholders from the date the Introduced
                Acquisition Target is first introduced to the Company, its successors
                or
                assigns through the closing of an acquisition by the Company, ATPA,
                any
                future subsidiary of the Company or its successors or assigns of
                such
                Introduced Acquisition Target;

            

    

    

    
      	
              5.

            	
              Assist
                in discussions with potential investors;
                and

            

    

    

    
      	
              6.

            	
              Serve
                as a director and Chairman of the Board of the Company, its successors
                or
                assigns subject to the approval of the stockholders or directors
                of the
                Company, its successors or
                assigns.

            

    

    
      
        
        

      

      
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          12
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    APPENDIX
      II TO CONSULTING AGREEMENT

     

    CONSULTING
      CHARGES AND PAYMENT TERMS:

     

    The
      amount of Consulting Charges shall be determined and payable as
      follows:

     

    Consulting
      Charges

     

    
      	
              Deal Value

            	 	 	 	
              Payout

            	 	
              CASH

            	 	
              STOCK

            	 
	
              (Acquisition Price)

            	 	 	 	 	 	 	 	 	 
	
            	 	
              %

            	 	
              Total

              Compensation

              (thousands)

            	 	 	 	 	 
	
              up
                to $5 million

            	 	 	
              1.5

            	 	 	
              Up to $75

            	 	 	
              75

            	
              %

            	 	
              25

            	
              %

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              Greater
                than $5 million 

            	 	 	
              1

            	* 	 	
              Up to $150

            	** 	 	
              75

            	
              %

            	 	
              25

            	
              %

            

    

    

    *
      Represents 1% of the acquisition price in excess of $5 million

    **
      Represents a cap on total compensation which shall not exceed
      $150,000

    

    
      
        
        

      

      
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