Document:

Exhibit 10.16

                    SEPARATION AGREEMENT AND GENERAL RELEASE

      NEXTSTAGE HEALTHCARE, INC., having offices at One Huntington Quadrangle,
Suite 4C01, Melville, NY 11747 (referred to throughout this Agreement as "the
Company" or "Employer"), and Richard Radoccia, who currently resides at P.O. Box
1668, Quogue, NY 11959 ("Employee") hereby agree as follows:

1. Last Day of Employment.

      Employee's last day of employment with the Company shall be April 14,
2000.

2. Entire Agreement.

      This Separation Agreement and General Release (the "Agreement") sets forth
the entire agreement between Company and Employee, and fully supersedes any
prior agreements or understandings between Company, or its agents, assignees,
officers and directors, and Employee. Employee acknowledges that he has not
relied on any representations, promises, or agreements of any kind made to him
in connection with his decision to accept this Agreement, except for those set
forth in this Agreement. Other than as set forth herein, Employee understands
and acknowledges that he will not receive any compensation or benefits of any
kind from the Company and agrees that he is not entitled to any such payment or
benefit for any reason, with the exception of any vested benefit to which
Employee has, or will, become entitled under the then existing Company's "401K"
retirement plan, if any. Employee shall not be eligible to receive any
401Kmatching funds from Company for 401K contributions made in the year 2000 or
any subsequent years. Employee's participation in Company's 401K retirement plan
during the compensation period shall be subject to the existence of, and rules
governing, such plan.

3. Consideration.

      Employee understands and acknowledges that he would not receive any of the
monies and/or benefits specified in this Agreement, which consideration supports
each and every aspect thereof, except for his execution and non-revocation of
this Agreement. Therefore, in consideration of Employee's execution of this
Agreement and not revoking your execution hereof pursuant to paragraph 4 below.
Company shall:

      A. Pay to Employee the total gross sum of Two Hundred and Sixty Four
Thousand Dollars ($264,000) (less statutory and other appropriate deductions)
which is equivalent to approximately sixteen (16) months of salary, in
thirty-two (32) bi-weekly payments, the first such payment to be made to
Employee seven (7) days following your execution of this agreement. Such payment
shall be inclusive of all accrued paid time off to which Employee would
otherwise be entitled.

      B. Continue to cover Employee and Employee's dependents under the
Company's group medical, dental, vision and life insurance programs for sixteen
(16) months following the date of separation, which expense shall be covered by
the Company and Employee at the same proportionate rates as being paid on the
date of separation. Thereafter, Employee may continue to be covered under the
Company's group health insurance program, at your

<PAGE>

expense, for a period of eighteen (18) months (or such longer period as may be
required by law) or until Employee becomes covered by any other group health
plan, whichever comes first. This continued coverage will be subject to, and in
accordance with, the terms of the documents governing the program and relevant
law.

4. Revocation.

      Employee understands that he may revoke this Agreement for a period of
seven (7) days following the day he executes this Agreement. Any revocation
within this period must be submitted, in writing, to the Company, Attention:
Kris Riedell, Director of Human Resources and state, "I hereby revoke my
acceptance of our Agreement and General Release." The revocation must be
personally delivered to the Company, Attention: Kris Riedell, Director of Human
Resources, or her designee, within seven (7) days of execution of this
Agreement. This Agreement shall not become effective or enforceable until the
revocation period has expired. If the last day of the revocation period is a
Saturday, Sunday, or legal holiday in New York, then the revocation period shall
not expire until the next following day which is not a Saturday, Sunday, or
legal holiday.

5. General Release of Claims.

      Employee knowingly and voluntarily releases and forever discharges the
Company, its parent corporation, affiliates, subsidiaries, divisions, successors
and assigns and the employees, officers, directors and agents thereof
(hereinafter now collectively referred to throughout this Agreement as "the
Company" or the "Employer"), of and from any and all claims, known and unknown,
which against Employer, Employee, his heirs, executors, administrators,
successors, and assigns (hereinafter now referred to collectively throughout
this Agreement as "Employee") have or may have as of the date of execution of
this Agreement, including, but not limited to, any alleged violation of the Age
Discrimination in Employment Act of 1967; National Labor Relations Act; Title
VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; Sections 1981
through 1988 of Title 42 of the United States Code; the Employee Retirement
Income Security Act of 1974; the Immigration Reform Control Act; the Americans
with Disabilities Act of 1990; the Fair Labor Standards Act; the Occupational
Safety and Health Act; the Family and Medical Leave Act of 1993; the New York
Human Rights Law; the New York Minimum Wage Laws; the Equal Pay Law of New York;
Equal Employment Opportunity, any other federal, state or local civil or human
rights law or any other local, state or federal law, regulation or ordinance;
any public policy, contract, (including the Employment Agreement) tort, or
common law; or any allegation for costs, fees, or other expenses including
attorneys' fees incurred in these matters. Notwithstanding the foregoing, this
release does not preclude: (i) any claims or litigation arising out of any
context other than Employee's employment with Company; (ii) Employee's right to
indemnification and defense of, and from, claims arising out of any authorized
activities undertaken by Employee in the normal scope of Employee's employment
with Company; and (iii) any claims relating to workers compensation statutory,
disability or disability income benefits which Employee is, by law or contract,
otherwise entitled to receive.

                                      -2-

<PAGE>

6. Covenant Not To Sue.

      By signing this Agreement and Release and by acceptance of the
compensation and benefits provided for herein Employee hereby WAIVES, RELEASES
AND COVENANTS NOT TO SUE the Company with respect to any matter relating to or
arising out of Employee's employment, compensation and benefits with the Company
and/or the termination thereof, and Employee agree that neither he nor any
person organization or entity acting on his behalf will (i) file, participate,
(to the extent not otherwise compelled by law) or join in the bringing or
maintenance of any claim or cause of action against the Company, whether in the
form of a federal, state or municipal court lawsuit or administrative agency
action or otherwise, on the basis of any claim arising out of or relating to
Employee's employment, compensation, and benefits with the Company and/or the
termination thereof of; (ii) seek reinstatement, reemployment or any other
relief from the Company, however that relief might be called, whether back pay,
compensatory damages, punitive damages, claims for pain and suffering, claims
for attorneys' fees, reimbursement of expenses or otherwise, on the basis of any
such claim, except for claims for a breach of this Agreement and Release. In the
event that Employee commences or participates in any action, claim, charge or
complaint which is violative of this provision, Employee shall not be entitled
to recover any relief or damages (including legal fees) and shall, in addition
to any other relief available to Company hereunder, be liable to Company for the
re-payment of all sums paid by Company to Employee under this Agreement, as well
as for all legal fees and costs incurred by Company in connection with its
defense of such action, claim, charge or complaint. Employee confirms that no
claims, charge, complaint, or action presently exists in any forum or form.
Notwithstanding the foregoing, this release does not preclude: (i) any claims or
litigation arising out of any context other than Employee's employment with
Company; (ii) Employee's right to indemnification and defense of, and from,
claims arising out of any authorized activities undertaken by Employee in the
normal scope of Employee's employment with Company; and (iii) any claims
relating to workers compensation statutory, disability or disability income
benefits which Employee is, by law or contract, otherwise entitled to receive.

7. Non-Defamation/Non-Disclosure.

      Employee agrees not to, directly or indirectly, in public or private,
deprecate, impugn or otherwise make any remarks that would defame or could be
construed to defame the Company or its reputation. Employee also agrees not to
disclose any information regarding the existence or substance of this Agreement
or the circumstances surrounding his cessation of employment, except to an
attorney (with whom Employee chooses to consult regarding his consideration of
this Agreement), his spouse or tax preparer (all of whom shall be subject to the
disclosure restrictions set forth herein) or as a result of judicial or federal
agency process.

8. Resolution of Disputes.

      A. Any controversy or claim arising out of this Agreement, or the breach
thereof, shall be venued in either the New York State Supreme Court in and for
the County of Suffolk or in the U.S. District Court for the Eastern District of
New York in Suffolk County and all such claims shall be adjudicated by a judge
sitting without a jury, to ensure rapid adjudication of those claims and proper
application of existing law.

                                      -3-

<PAGE>

      B. Compliance with the covenants set forth in this Agreement is necessary
to protect the business and good will of Company. Any breach of these covenants
will result in irreparable and continuing damage to the Company, for which
monetary damages may not provide adequate relief. Accordingly, in the event of
any breach of Paragraphs "6", "7", "8" or "9" by Employee, Employee agree that
the Company is entitled to the following relief as a result of any such breach,
in addition to remedies otherwise available at law or in equity: (i)
injunctions, both preliminary and permanent, enjoining or restraining such
breach (without the posting of any bond) by any court or other forum of
competent jurisdiction; (ii) recovery of all sums and costs incurred by Employer
to enforce the provision of this Agreement, including reasonable attorneys fees;
(iii) return to Employer of all consideration thus far received; (iv) Employee
will not be entitled to any future consideration under this Agreement; and, (v)
the provisions of Paragraphs, "6", "7", and "8" nevertheless, will remain in
full force and effect.

9. Competence to Execute.

      Employee personally has read, considered and understands that this
Agreement waives, settles and resolves any and all claims that he/she may have
against the Company. He is not affected by any drug, alcohol, medication or
other condition that would interfere with his ability to understand this
Agreement and to waive the rights described herein in exchange for the
consideration set forth above. Similarly, Employee is not a party to any
proceeding, including any proceeding in bankruptcy that would impair his ability
to execute this Agreement or limit his right to receive the payment made
pursuant thereto.

10. Governing Law and Interpretation.

      This Agreement and General Release should be governed and conformed in
accordance with the laws of the State of New York without regard to its conflict
of laws provision. Should any provision of this Separation Agreement and General
Release be declared illegal or unenforceable by any court of competent
jurisdiction and cannot be modified to be enforceable, excluding the general
release language, such provision shall immediately become null and void, leaving
the remainder of this Separation Agreement and General Release in full force and
effect. However, if any portion of the general release language were ruled to be
unenforceable for any reason and, as a result. Employee files a claim, Employee
shall return the consideration paid hereunder to the Company.

11. Nonadmission of Wrongdoing.

      Employee agrees that neither this Separation Agreement and General Release
nor the furnishing of the consideration for this Release shall be deemed or
construed at anytime for any purpose as an admission by the Company of any
liability or unlawful conduct of any kind.

12. Amendment.

      This Separation Agreement and General Release may not be modified, altered
or changed except upon express written consent of both Parties wherein specific
reference is made to this Separation Agreement and General Release.

                                      -4-

<PAGE>

13. Section Headings.

      Section headings are used herein for convenience of reference only and
shall not affect the meaning of any provision of this Separation Agreement and
General Release.

14. Counterparts.

      This Agreement may be signed in two counterparts; each of, which shall be
deemed an original, and both of which shall together constitute one agreement.

15. No Future Employment.

      Employee knowingly and voluntarily waives his right to seek or request
employment or reinstatement and acknowledges that the Company has no obligation,
contractual or otherwise, to employ or reemploy him. Further, Employee agrees
that he will not institute any legal, equitable or administrative action of any
kind against the Company should he seek and be denied such employment or
reemployment; and that this Agreement would act as a complete bar to any such
action.

16. Legal Fees.

      Each party will be responsible for its own legal fees or costs, if any
incurred in connection with the negotiation and settlement of this Agreement
unless hereunder provided.

EMPLOYEE HAS BEEN ADVISED THAT HE HAS TWENTY-ONE (21) DAYS TO CONSIDER THIS
AGREEMENT AND GENERAL RELEASE AND HAS BEEN ADVISED IN WRITING TO CONSULT WITH AN
ATTORNEY PRIOR TO EXECUTION OF THIS AGREEMENT AND GENERAL RELEASE. HAVING
ELECTED TO EXECUTE THIS AGREEMENT AND GENERAL RELEASE, TO FULFILL THE PROMISES
SET FORTH HEREIN, AND TO RECEIVE THEREBY THE CONSIDERATION SET FORTH IN
PARAGRAPH "3" ABOVE, EMPLOYEE FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION,
ENTERS INTO THIS AGREEMENT AND GENERAL RELEASE INTENDING TO WAIVE, SETTLE AND
RELEASE ALL CLAIMS HE HAS OR MIGHT HAVE AGAINST THE COMPANY.

                                      -5-

<PAGE>

IN WITNESS WHEREOF, the parties hereto knowingly and voluntarily executed this
Separation Agreement and General Release as of the date set forth below:

NEXTSTAGE HEALTHCARE, INC.                         JAY A. KOSSMAN

By: /s/                                            /s/ Richard A. Radoccia
    -----------------------------                  -----------------------------

             4/15/00                                          4/15/00
---------------------------------                  -----------------------------
Date                                               Date

                                    GUARANTY

      MDNY Healthcare Inc., by its duly authorized representative hereby
guarantees the payment of the consideration payable by NextStage Healthcare,
Inc. under this Separation and General Release, subject to its terms and
conditions.

MDNY HEALTHCARE, INC.
By: /s/ Paul T. Accardi
    ---------------------------
Print Name: Paul T. Accardi
            --------------------
Title:           CEO
      --------------------------
Date:         4/15/00
      --------------------------

                                      -6-Exhibit 10.17

                              EMPLOYMENT AGREEMENT

      THIS EMPLOYMENT AGREEMENT ("Agreement") made this 1st day of January,
2001, by and between MDNY Healthcare, Inc., a corporation, having its principal
place of business at One Huntington Quadrangle, Suite 4C01, Melville, New York
(the "Company"), and PAUL T. ACCARDI, 91 Darrow Lane, Greenlawn, New York 11740
("Accardi").

                                   WITNESSETH

      WHEREAS, the Company is a managed care organization; and

      WHEREAS, the Company wishes to employ Accardi as Chief Executive Officer,
and to utilize his expertise, knowledge and services in that position, and
Accardi desires to provide such expertise, knowledge and services to the Company
under the terms, conditions and covenants contained in this Agreement. The
Company and Accardi also desire that Accardi shall seek to obtain a Masters in
Health Policy and Management (a "Masters") as hereinafter provided.

      NOW, THEREFORE, in consideration of the facts, mutual promises and
covenants contained herein and intending to be legally bound hereby, the Company
and Accardi agree as follows:

      1. Duties and Responsibilities.

            (a) Subject to the terms and conditions set forth in this Agreement,
Accardi shall serve as Chief Executive Officer of the Company, in full charge of
the operation of its business and affairs, subject to the provisions of the
by-laws of the Company in respect of the duties and responsibilities assigned
from time to time by the Board of Directors to the Chief Executive Officer, and
subject also at all times to the control of the Board of Directors. Accardi
shall perform such duties and perform such responsibilities as are commensurate
with his position, and as the Board of Directors shall from time to time
reasonably direct, recognizing the executive nature and scope of Accardi's
employment.

            (b) Accardi shall devote his entire working time, energy, attention,
knowledge, skill and best efforts to the affairs of the Company and to the
performance of his duties hereunder in a manner which will faithfully and
diligently further the business and interests of the Company. During the
operation of this Agreement, Accardi may not at any time, whether or not
actually engaged in providing services to the Company, directly or indirectly
perform any work for or on behalf of a competitor or any other company, or
otherwise enter into any business or employment with or for any entity which in
the Company's sole discretion could interfere or impede with the performance of
his job duties, except upon the Company's prior written consent. During the term
of this Agreement, Accardi may, but shall not be required to, devote up to 16
hours per month during normal business hours toward obtaining instruction toward
achieving a Masters, provided that the course of his instruction shall not be
permitted to unduly interfere with the performance of his duties as Chief
Executive Officer.

<PAGE>

            (c) Accardi shall not obtain goods or services or otherwise deal on
behalf of the Company with any business or entity in which Accardi or a member
of his family has a financial interest or from which Accardi or a member of
family may derive a financial benefit as a result of such transaction, except
that this prohibition shall not apply to any publicly traded company in which
Accardi or a member of his family owns less than 1% of the outstanding stock or
in circumstances specifically approved by the Board of Directors after full
disclosure.

            (d) The Board of Directors reserves the right from time to time to
assign to Accardi additional duties and responsibilities. All such additional
duties and responsibilities shall be made by the Board of Directors in good
faith and shall be consistent with Accardi's position as Chief Executive Officer
of the Company.

      2. Compensation.

            (a) The Company shall pay to Accardi an annual base salary of Three
Hundred Sixty Thousand Dollars ($360,000). This annual salary shall be paid in
accordance with the Company's regular payroll practices. The Board shall review
Accardi's performance on or about January 1st of each year to determine whether,
in the Company's sole discretion, Accardi's annual salary shall be increased.

            (b) In addition to Accardi's annual base salary, he will participate
in MDNY's annual incentive program, with an initial target incentive opportunity
of 30% of base salary. The terms of Accardi's incentive goals for the year shall
be set forth in a written notice delivered to him not later than 90 days after
the beginning of the year to which the incentive goal applies. Except as
described in Sections 8(a) and Section 9, the amount and nature of Accardi's
participation in the annual incentive program shall be within the Company's sole
discretion.

            (c) Throughout the term of this Agreement, Accardi shall be eligible
to participate in any profit-sharing, retirement or other benefit plans and any
health, life, accident or disability insurance plans or programs to the same
extent as other similarly situated key employees of the Company. Accardi shall
receive (1) the insured or self-insured health, life and disability benefits, if
any, provided for the executive officers of the Company and (2) the various
other fringe benefits, if any, provided to executive officers of the Company
that may be authorized from time to time by the Board of Directors.

            (d) Accardi shall be entitled to take four (4) weeks of paid
vacation per year on a non-cumulative basis.

      3. Business Expenses.

            (a) The Company shall pay or reimburse Accardi for reasonable travel
and other expenses incurred by Accardi in connection with the performance of
Accardi's duties under this Agreement, upon receipt of vouchers therefor and in
accordance with the Company's regular reimbursement procedures and practices in
effect from time to time.

                                      -2-
<PAGE>

            (b) The Company shall provide Accardi with an automobile allowance
of $500 per month to be allocated for the expenses of maintaining an automobile
for his use in connection with business matters.

            (c) The Company shall pay for, or reimburse Accardi upon receipt of
appropriate vouchers for, tuition and related expenses incurred during the term
of this Agreement for fees, books, supplies and equipment in connection with his
instruction at an appropriate accredited institution toward obtaining a Masters.

      4. Term of Employment. Subject to the terms and conditions of this
Agreement, the Company agrees to employ Accardi, and Accardi accepts employment
with the Company for a period beginning on the date of this Agreement and
continuing for a period of three years. Upon the expiration of the three-year
period, Accardi's employment under the terms of this Agreement shall
automatically renew on a year to year basis unless terminated by either party by
the giving of at least 90 days prior written notice to other party.

      5. Termination of Employment by Reason of Death. If Accardi shall die
during the term of this Agreement, this Agreement shall terminate automatically
as of the date of his death, and the Company shall pay to Accardi's legal
representatives the compensation which would otherwise be payable to Accardi up
to the end of the month in which his death occurs and no more.

      6. Termination of Employment by Reason of Disability.

            (a) If Accardi shall become temporarily disabled during the term of
this Agreement, all of Accardi's rights under this Agreement shall continue
until such time as Accardi either returns to work (but not for a period greater
than 180 days) or is deemed "permanently disabled" (as hereinafter defined in
Section 6(c)).

            (b) If Accardi shall be deemed permanently disabled, this Agreement
shall terminate automatically as of the date Accardi is deemed permanently
disabled. Accardi shall receive the compensation which would otherwise be
payable to Accardi up to the end of the month in which Accardi was so deemed
permanently disabled and no more.

            (c) Accardi shall be deemed permanently disabled for purposes of
this Agreement if:

                  i. in the reasonable opinion of the Board of Directors,
Accardi is unable to render full-time service to the Company pursuant to the
terms of this Agreement for six (6) consecutive months; or

                  ii. in the reasonable opinion of the Board of Directors,
Accardi is unable to render full-time service to the Company pursuant to the
terms of this Agreement for nine (9) months out of any twelve (12) consecutive
month period; or

                  iii. in the opinion of a physician mutually selected by the
Company and Accardi or selected in accordance with the provisions of Section
6(d), Accardi is permanently unable to render full-time service to the Company
under this Agreement.

                                      -3-
<PAGE>

            (d) If the Company and Accardi are unable to mutually agree upon the
selection of a physician under Section 6(c)(iii) above within sixty (60) days of
either party requesting the other to so agree, each party shall select a
physician and the two physicians so selected shall promptly select a third
physician who shall make such determination.

      7. Termination of Employment for Cause.

            (a) The Company may immediately terminate Accardi's employment in
the event that Accardi shall do or cause to be done, or there shall occur, any
act which constitutes "cause" (as hereinafter defined) for termination.

            (b) For purposes of this Agreement, "cause" shall be deemed to mean
the occurrence of any of the following:

                  i. a material breach by Accardi of this Agreement or
substantial non-performance by Accardi of his duties as the Chief Executive
Officer of the Company, provided that if any such breach or non-performance can
be cured by Accardi, then such breach or non-performance shall not be "cause" if
it is cured within 20 days after notice thereof is given to Accardi and such
cure puts the Company in the same position, economically and otherwise, as it
was prior to such breach or non-performance;

                  ii. Accardi's dishonesty, fraud or breach of trust or
intentional misconduct in the performance of his duties as the Chief Executive
Officer of the Company;

                  iii. conviction of Accardi of a crime in any court which could
have the effect of causing the termination or suspension of any license, permit
or authorization which the Company has or holds;

                  iv. conviction of Accardi of a felony; or

                  v. Accardi's excessive absenteeism not related to disability.

            (c) The definition of cause set forth in Section 7(b) shall not be
deemed to include, only by itself, the failure to satisfy any particular
business plan, budget or financial target. Should Accardi's employment be
terminated by the Company for cause, the Company's only obligation shall be to
pay Accardi his salary and other compensation under Section 2 of this Agreement
which has accrued as of the date of such termination. Nothing contained in this
Section 7 shall in any way waive, restrict or prejudice the Company's rights and
remedies in equity and at law against Accardi with respect to the matter for
which Accardi's employment under this Agreement is terminated for cause.

                                      -4-
<PAGE>

      8. Salary Continuation Upon Change in Control.

            (a) If there is a Change of Control and there is a Termination of
Employment (as hereinafter defined) during the term of this Agreement solely for
the reason set forth in Section 8(c)(iii), the Company will continue to pay
Accardi his base salary, payable bi-weekly, in effect on the date of the
Termination of Employment and pay Accardi an annual adjustment payment equal to
the greater of (1) the annual incentive paid to him for the previous year, and
(2) 200% of the annual base salary in effect at the time of the Termination of
Employment (an "Adjustment Payment"), subject to all required withholding taxes,
for a period commencing on the date of the Termination of Employment and ending
on the date which is the day before the second anniversary of such date. The
Company shall pay Accardi the Adjustment Payments within 45 days after the first
and second anniversaries of Termination of Employment as set forth in this
Section 8(a). The payments of base salary and Annual Adjustments set forth in
this Section are Accardi's sole and exclusive remedy for a Termination of
Employment as set forth in this Section 8(a).

            (b) Subject to Section 8(c) below, "Termination of Employment" means
the termination of Accardi's employment with the Company for any reason other
than any of the following:

                  i. death of Accardi;

                  ii. Accardi being deemed "permanently disabled" (as defined in
Section 6(c));

                  iii. the voluntary termination by Accardi of his employment
with the Company; or

                  iv. the termination of Accardi's employment by the Company for
"cause" (as defined in Section 7).

            (c) A voluntary termination of employment shall nevertheless be
deemed a "Termination of Employment" if the voluntary termination occurs as a
result of any of the following:

                  i. the assignment to Accardi of any duties inconsistent in any
respect with his position (including status, offices, titles and reporting
requirements), authority, duties or responsibilities as contemplated by Section
2 of this Agreement, or any action by the Company which results in a diminution
in such position, authority, duties or responsibilities, excluding for this
purpose isolated, insubstantial and inadvertent actions not taken in bad faith
which are remedied by the Company promptly after receipt of notice thereof given
by Accardi;

                  ii. the Company's requiring Accardi to be based at an office
or location greater than 50 miles from the Company's current offices; or

                                      -5-
<PAGE>

                  iii. any purported termination by the Company of Accardi's
employment other than as expressly permitted by this Agreement.

            (d) For purposes of this Agreement there shall be a "Change of
Control" if any of the following events occurs:

                  i. any person, entity or group (as such term is used in
Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules
and regulations thereunder) directly or indirectly acquires or becomes the
beneficial owner (within the meaning of Rule 13d-3 under said Act) of, or
otherwise becomes entitled to vote stock of the Company with 35% or more of the
voting power entitled to vote in elections for directors;

                  ii. there occurs any merger or consolidation or any sale,
lease or exchange of all or any substantially all of the assets of the Company
to any other entity and (A) in the case of a merger or consolidation, the
holders of the outstanding stock of the Company immediately before such merger
or consolidation hold less than 50% of the voting stock of the survivor of such
merger or consolidation or its parent; or (B) in the case of any such sale,
lease or exchange the holders of the voting stock of the Company immediately
before such sale, lease or exchange do not own at least 50% of the voting stock
of the other entity; or

                  iii. individuals who, as of the date of this Agreement,
constitute the Board of Directors (the "Incumbent Board") cease for any reason
to constitute at least a majority of the Board of Directors; provided, however,
that

                        A. any individual becoming a director subsequent to the
date of this Agreement whose election, or nomination for election by the
Company, was approved by a majority of the directors who (1) are members of the
Incumbent Board and (2) represent any class of voting stock of the Company on
the date of this Agreement, shall be considered a member of the Incumbent Board;
and that

                        B. any individual shall not be considered a member of
the Incumbent Board who assumed the office of director as result of an actual or
threatened election contest or actual or threatened solicitation of proxies by
or on behalf of a person, entity or group not represented on the Board of
Directors at the time of this Agreement.

      9. Salary Continuation in the Absence of A Change of Control. In the event
there is a Termination of Employment that is not in connection with a Change of
Control, then Accardi will continue to receive his base salary, payable
bi-weekly, in effect on the date of the Termination of Employment and pay
Accardi an Adjustment Payment, subject to all required withholding taxes, for
the period commencing on the date that Accardi's employment is terminated and
ending on the date which is the day before the first anniversary of such date.
The Company shall pay Accardi the Adjustment Payment within 45 days after the
first anniversary of Termination of Employment as set forth in this Section 9.
The payments of base salary and the provision of Adjustment Payment set forth in
this Section are Accardi's sole and exclusive remedy in the event that his
employment is terminated as set forth in this Section 9.

                                      -6-
<PAGE>

      10. Confidential Information.

            (a) Accardi recognizes and acknowledges that while providing
services to the Company, he will be exposed to and/or will acquire eminently
valuable knowledge of certain secret or confidential information, which has been
developed through the Company's efforts or investments, and is valuable to the
successful operation of the Company. Accardi therefore agrees that during his
employment with the Company under this Agreement, and thereafter, regardless of
the reasons for the cessation of his employment, he shall not use for his
personal benefit or disclose, communicate or divulge to, or use for the direct
or indirect benefit of any person, firm, association or organization other than
the Company, any confidential or secret information of the Company which Accardi
acquires, which is not otherwise lawfully known by and readily available to the
general public. This confidential or secret information (the "Confidential
Information") includes, but is not limited to: names and addresses of employees,
suppliers or customers; any data on or relating to past, present or prospective
customers, including customer lists; marketing or strategic plans; business,
selling, legal or accounting methods, policies, plans, procedures, operations,
strategies or techniques; research or development projects or results;
manufacturing processes, cost information, technology, discoveries, designs,
formulae, compositions, and other trade secrets or other knowledge or processes
of or developed by the Company. Accardi further recognizes and acknowledges that
if the confidentiality or secrecy of the Confidential Information is lost or
used in an unauthorized manner, the Company could suffer irreparable and
continuing injury to its business, for which there will not be any adequate
remedy at law. Accardi confirms the Confidential Information the exclusive
property of the Company, and agrees that, immediately upon his ceasing to
provide services to the Company, regardless of the reasons therefor, Accardi
shall deliver to the Company the original and all copies and recordings of all
correspondence, documents, books, records, lists and other writings and
recordings, including any recordings in electronic media, relating to the
Company's business; and Accardi shall retain no copies, regardless of where or
by whom said writings or recordings were kept or prepared.

            (b) Accardi acknowledges that compliance with the provisions of this
Section 10 is necessary to protect the goodwill and other proprietary interests
of the Company, and is a material condition of this Agreement.

      11. Restrictive Covenant.

            (a) Accardi acknowledges and agrees that as a necessary result of
his employment by the Company, he may become intimately familiar with all of the
Company's business operations, clients and suppliers everywhere the Company does
business. He further acknowledges and agrees that all present and future
business relationships and goodwill that the Company has or may have with those
clients, prospective clients and suppliers, made known to Accardi during his
provision of services to the Company, whether or not Accardi created those
business relationships, are indispensable proprietary rights and interests of
the Company, and inure to the sole benefit and are the property of the Company.

            (b) Accardi agrees that in exchange for his employment under this
Agreement, during his employment with the Company, and for a period of one year
after Accardi's employment with the Company under this Agreement ends,
regardless of the reasons therefor, he shall not:

                                      -7-
<PAGE>

                  i. Solicit or in any way contact any of the Company's
customers, prospective customers, suppliers or service providers within the
Company's primary market area consisting of Nassau and Suffolk Counties of New
York (the "Market Area") in an attempt to obtain business of the same or similar
type as performed by the Company, or being planned by the Company during the
Agreement, or in any way interfere with the Company's business relationships
with those customers, suppliers or service providers;

                  ii. Directly or indirectly engage in (as a principal, partner,
director, officer, agent, employee, consultant, owner, independent contractor or
otherwise, with or without compensation), any business activities within the
Market Area which are the same as, similar to or in competition with business
activities carried on by the Company or being planned by the Company at the time
Accardi's employment with the Company ends, within the Market Area;

                  iii. Directly or indirectly own or hold a financial interest
in (other than ownership by Accardi and members of his family of less than 1% of
the outstanding stock of a publicly traded company) any business which is
involved in business activities carried on by the Company or being planned by
the Company a the time Accardi's employment with the Company ends, within the
Market Area; or

                  iv. Directly or indirectly induce or influence any employee of
the Company to terminate his or her employment with the Company.

            (c) The restrictive covenants set forth in this Section 11 shall be
separately construed so that the existence of any claim or cause of action of
Accardi against the Company, whether predicated on this Agreement or otherwise,
shall not constitute a defense to the enforcement by the Company of these
covenants.

      12. Survival of Confidentiality and Non-Competition Covenants. The
provisions of Sections 10 and 11 shall survive the termination of this
Agreement, regardless of the reason for its termination.

      13. Remedies for Violation of Confidentiality and Non-Competition
Covenants. Accardi acknowledges and agrees that, in view of the nature of the
business in which the Company is engaged and the Accardi's exposure to the
Company's operations, the restrictions contained in Sections 10 and 11 are
reasonable and necessary to protect the legitimate interests of the Company, and
that any violation of those restrictions would result in irreparable injury to
the Company, for which there is no adequate remedy at law. Accardi therefore
agrees that in the event of any actual or threatened violation by him of Section
10 or 11, including a single actual or threatened violation, the Company shall
be entitled to obtain from any court of competent jurisdiction preliminary and
permanent injunctive relief against Accardi, in addition to damages from Accardi
and an equitable accounting of all commissions, earnings, profits and other
benefits to Accardi from such violation, which rights shall be cumulative and in
addition to any other rights or remedies to which the Company may be entitled.

      If any portion of the covenants contained in Sections 10 or 11, or the
application thereof, is construed to be invalid or unenforceable, the remainder
of such covenants or covenants or

                                      -8-
<PAGE>

the application thereof shall not be affected and the remaining covenant or
covenants will then be given full force and effect without regard to the invalid
or unenforceable portions. If any covenant(s) of Sections 10 or 11 is held to be
unenforceable because of the area covered, or the duration or scope thereof,
Accardi agrees that the court making such determination shall have the power to
reduce or limit the area, duration and/or scope thereof, and the covenant(s)
shall then be enforceable in its or their reduced form. If Accardi violates any
of the restrictions contained in Section 11, the period of such violation (from
the commencement of any such violation until such time as such violation shall
be cured by Accardi to the satisfaction of the Company) shall not count toward
or be included in the one year restrictive period contained in Section 11.

      14. Expenses of Enforcement.

            (a) If there shall be a breach or threatened breach by the Company
of its obligations under Section 8(a) or 9, then the Company shall pay, to the
fullest extent permitted by law, all expenses, including attorney's fees and
expenses incurred in connection with any actual or threatened legal action
necessary to enforce his rights, and the Company hereby agrees to indemnify and
hold Accardi harmless from and against all such expenses.

            (b) If there shall be a breach or threatened breach of this
Agreement other than as provided for in Section 14(a), then all expenses,
including, without limitation, attorney's fees and expenses incurred in
connection with any legal proceeding arising as a result of the breach or
threatened breach shall be borne by the losing party to the fullest extent
permitted by law, and the losing party hereby agrees to indemnify and hold the
other party harmless from and against all such expenses.

      15. Prior Agreements. Accardi represents and warrants to the Company that:
(a) there are no restrictions, agreements or understandings whatsoever to which
Accardi is a party which would prevent or make unlawful his execution of this
Agreement or working for the Company hereunder; (b) his execution of this
Agreement and his working for the Company hereunder shall not constitute a
breach of any contract, agreement or understanding, oral or written, to which he
is a party or by which he is bound; and (c) he is free and able to execute this
Agreement and to work for the Company.

      16. Entire Understanding. This Agreement contains the entire understanding
between the Company and Accardi with respect to the subject matter hereof, as
well as all other prior and contemporary agreements and understandings,
inducements or conditions, express or implied, written or oral, between the
Company and Accardi except as herein contained. The express terms hereof control
and supersede any course of performance and/or usage of the trade inconsistent
with any of the terms hereof.

      17. Modifications. This Agreement may not be modified orally but only by
written agreement signed by Accardi and the Company acting by or under the
authority of its Board of Directors.

      18. Provisions Separable. The provisions of this Agreement are independent
of and separable from each other, and no provisions shall be affected or
rendered invalid or

                                      -9-
<PAGE>

unenforceable by virtue of the fact that for any reason any other or others of
them may be invalid or unenforceable in whole or in part.

      19. Consideration, Merger, or Sale of Assets. Nothing in this Agreement
shall preclude the Company from consolidating or merging into or with, or
transferring all or substantially all of its assets to, another entity which
assumes this Agreement and all obligations and undertakings of the Company
hereunder. Under such a consolidation, merger or transfer of assets and
assumption of obligations and undertakings, the term "the Company", as used
herein, shall mean such entity and this agreement shall continue in full force
and effect.

      20. Notices. Unless otherwise required by law, all notices, requests,
demands and other communications required or permitted under this Agreement
shall be in writing and shall be deemed to have been duly given, made and
received when delivered (personally, by courier service such as federal express,
or by messenger) or when deposited in the United States mail, registered or
certified mail, postage pre-paid, return receipt requested, addressed as set
forth below:

                (a)    If to the Company:

                       MDNY Healthcare, Inc.
                       One Huntington Quadrangle
                       Suite 4C01
                       Melville, New York 19355

                       Attention:  Chairman of the Board

                (b)    If to Mr. Paul T. Accardi:

                       Paul T. Accardi
                       91 Darrow Lane
                       Greenlawn, New York 11740

Any party may alter the address to which communications or copies are to be sent
by giving notice of such change of address in conformity with the provisions of
this Section for the giving of notice.

      21. No Attachment. Except as required by law, no right to receive payments
under this Agreement shall be subject to anticipation, commutation, alienation,
sale, assignment, encumbrance, charge, pledge, or hypothecation or to execution,
attachment, levy or similar process or assignment by operation of law, and any
attempt, voluntary or involuntary, to effect any such actions shall be null,
void and of no effect.

      22. Binding Agreement. This Agreement shall be binding upon, and shall
inure to the benefit of the Company and its successors, representatives and
assigns and shall be binding upon Accardi.

      23. No Assignment of Rights or Obligations by Employee. Accardi
acknowledges and agrees that the services to be rendered by him under this
agreement are unique

                                      -10-
<PAGE>

and personal. Accordingly, Accardi may not assign or transfer any of his rights
or obligations hereunder.

      24. Indulgences. Neither the failure nor any delay on the part of either
party to exercise any right, remedy, power or privilege under this Agreement
shall operate as a waiver thereof, nor shall any single or partial exercise of
any right, remedy, power or privilege preclude any other or further exercise of
the same or of any other right, remedy, power or privilege, nor shall any waiver
of any right, remedy, power or privilege with respect to any occurrence be
construed as a waiver of such right, remedy, power or privilege with respect to
any other occurrence. No waiver shall be effective unless it is in writing and
is signed by the party asserted to have granted such waiver.

      25. Section Headings. The section headings in this Agreement are for
convenience only, they form no part of this Agreement and shall not affect is
interpretation.

      26. Controlling Law. This Agreement and all questions relating to its
validity, interpretation, performance and enforcement (including, without
limitation, provisions concerning limitation of actions), shall be governed by
and construed in accordance with the laws of the State of New York,
notwithstanding any conflict-of-laws doctrines of such state or any other
jurisdiction to the contrary, and without the aid of any canon, custom or rule
of law requiring construction against the draftsman.

      27. Definition of Company. For purposes of this Agreement, the term
"Company" includes not only MDNY, but also any successor, parent, subsidiary,
branch office or affiliate of MDNY.

      IN WITNESS WHEREOF, the parties hereto, intending to be legally bound,
have duly executed and delivered this Agreement as of the date first above
written

                                           MDNY HEALTHCARE, INC.

/s/ Paul Accardi                           By: /s/ Salvatore Caravella
--------------------------                     ----------------------------
Paul T. Accardi                                Chairman of the Board

                                      -11-

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