Document:

EXHIBIT 10.3

                              CONSULTING AGREEMENT

THIS CONSULTING AGREEMENT (this "Agreement") is made and entered into as of May
1, 2005, by and between Datameg Corporation, a Delaware corporation (the
"Company"), and Andrew Benson (the "Consultant").

W I T N E S S E T H :

WHEREAS, the Company recognizes that the Consultant possesses unique knowledge
and experience concerning the Company's business and operations and, as a
result, the Company desires to contract with the Consultant to provide certain
consulting services to the Company; and

WHEREAS, the Consultant has agreed to perform the consulting services desired by
the Company for the compensation and subject to and upon all of the other terms,
conditions and provisions of this Agreement.

NOW THEREFORE, in consideration of the foregoing, of the mutual promises
contained herein and of other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:

Section 1. Consulting Services.  During the Term (as defined herein) and at
such times and places as the Company may from time to time reasonably request,
the Consultant agrees to furnish consulting and general business advisory
services relating to the operation of the business of the Company, its
subsidiaries and affiliates (the "Consulting Services").  All Consulting
Services shall be performed at mutually convenient times during normal business
hours.

Section 2. Term.  The Consulting Services provided by the Consultant
hereunder shall be for a term of twelve (12) months (the "Term") beginning on
the date hereof and ending on April 30, 2006, unless earlier terminated upon the
following events: (a) termination of this Agreement by the Consultant for any
reason, or (b) termination of this Agreement by the Company for Cause (as
defined below).  For purposes of this Agreement, "Cause" means conviction of, or
a plea of nolo contendere to, a felony or crime involving moral turpitude or any
other act involving dishonesty, disloyalty or fraud with respect to the Company.
Except with respect to a termination for Cause, the Company shall not have the
power to revoke, terminate or cancel this agreement.

Section 3. Compensation.  During the Term, the Consultant shall receive a
monthly consulting payment equal to $12,500 (the "Consulting Fee") on the 1st
day of each month, beginning on the date hereof.

Section 4. Independent Contractor.  In providing the Consulting Services,
the parties acknowledge and agree that the Consultant is acting only as an
independent contractor and is not providing such Consulting Services as an
employee of the Company or in any other capacity.  The Consultant shall be
responsible for payment of all taxes with respect to the Consulting Fee or any
other payments payable hereunder.  This Agreement shall not be construed to
create any partnership or joint venture between the Company and the Consultant.

Section 5. Successors.  The Company may assign its rights and obligations
under this Agreement to any successor to all or substantially all the assets of
the Company, by merger or otherwise, and may assign or encumber this Agreement
and its rights hereunder as security for indebtedness of the Company.

Section 6. Enforcement.  The provisions of this Agreement shall be regarded
as divisible, and if any of such provisions or any part thereof is declared
invalid or unenforceable by a court of competent jurisdiction, the validity and
enforceability of the remainder of such provisions or parts hereof and the
applicability thereof shall not be affected thereby.

Section 7. Amendment.  This Agreement may not be amended or modified at any
time except by a written instrument executed by the Company and the Consultant.
Any attempted amendment or modification without such approval and execution
shall be null and void ab initio and of no effect.

Section 8. Governing Law.  This Agreement and the rights and obligations
hereunder shall be governed by and construed in accordance with the laws of the
Commonwealth of Massachusetts, without regard to principles of conflict of laws
of Massachusetts or any other jurisdiction.

Section 9. Notice.  Notices given pursuant to this Agreement shall be in
writing will be effective immediately upon delivery if delivered in person (or
by facsimile with confirmation of receipt) or three (3) days after mailing by
United States first class mail, postage prepaid and addressed as follows:

If to the Company:

Datameg Corporation
9 West Broadway, Suite 214
Boston, MA  02127
Attention:  Chief Executive Officer
Facsimile No.:  (617) 395-8064

If to the Consultant:
Andrew Benson
1 Charles Street South
Boston, MA  02116
Facsimile No.:  (617) 267-0595

or to such other address as the party to be notified shall have given to the
other in accordance with the notice provisions set forth in this Section 9.

Section 10. No Waiver.  No waiver by either party at any time of any breach
by the other party of, or compliance with, any condition or provision of this
Agreement to be performed by the other party shall be deemed a waiver of similar
or dissimilar provisions or conditions at any time.

Section 11. Headings.  The headings contained herein are for reference only
and shall not affect the meaning or interpretation of any provision of this
Agreement.

Section 12. Entire Agreement.  No agreement or representation, oral or
otherwise, express or implied, with respect to the subject matter hereof has
been made by either party which is not set forth expressly in this Agreement.

Section 13. Consultant Representations.  The Consultant hereby represents
and warrants to the Company that (a) the Consultant's execution and delivery of
this Agreement and his performance of his duties and obligations hereunder will
not conflict with, or cause a default under, or give any party a right to
damages under, or to terminate, any other agreement to which the Consultant is a
party or by which he is bound and (b) there are no agreements or understandings
that would make unlawful the Consultant's execution or delivery of this
Agreement or his engagement hereunder.

IN WITNESS WHEREOF, the parties have executed this Consulting Agreement as an
instrument under seal in multiple counterparts, each of which shall be deemed
one and the same instrument, as of the day and year first written above.

Datameg Corporation

	By:/s/ Mark McGrath
	----------------
	       Mark McGrath
	       President and Chief Executive Officer

/s/ Andrew Benson
--------------------
Andrew BensonEXHIBIT 10.4

Resignation

I hereby resign from (1) my position as a director of Datameg Corporation, a
Delaware corporation (the "Company"), and (2) any offices I may hold with the
Company, in each case effective as of the date written below.

						/s/ Andrew Benson
						--------------------
						    Andrew Benson

						April 29, 2005
						Effective Date

I hereby authorize any officer, director or agent of the Company to insert the
effective date in the area above.

						/s/ Andrew Benson
						--------------------
						    Andrew BensonEXHIBIT 10.5

                             MUTUAL GENERAL RELEASE

MUTUAL GENERAL RELEASE dated as of April 27, 2005 by and between Datameg
Corporation, a New York corporation and Andrew Benson.

1. General Release.  Each of the parties hereto, on behalf of himself or itself,
and his or its respective past, present, and future employees, officers,
directors, agents, attorneys, representatives, affiliates, predecessors, heirs,
successors and assigns, hereby absolutely, unconditionally and completely
releases, remises and forever discharges the other party hereto and his or its
respective past, present, and future employees, officers, directors, agents,
attorneys, representatives, affiliates, predecessors, heirs, successors and
assigns, of and from all debts, demands, actions, causes of action, suits,
accounts, covenants, agreements, torts, damages, claims, obligations and
liabilities whatsoever, of every name and nature, both in law and in equity,
whether liquidated or unliquidated, known or unknown, foreseen or unforeseen, no
matter how arising, that either of the parties may have against the other, up to
and including the date hereof.

2. General.

    a. This Agreement contains the entire understanding of the parties hereto
       relating to the matters referenced herein and may only be amended by a
       written instrument, duly executed on behalf of the respective parties.

    b. This general release is under seal and shall be construed pursuant to the
       laws of The Commonwealth of Massachusetts, without regard to principles
       of conflict of laws.

    c. This Agreement shall be deemed to have been jointly drafted by the
       parties for all purposes involving its construction and enforcement.  The
       Agreement will be interpreted in accordance with its fair meaning and
       will not be construed strictly against any party.

    d. This instrument shall be binding upon the parties hereto, and their
       respective successors, assigns, heirs, and legal representatives.

    e. This Agreement may be executed in multiple counterparts, each of which
       shall be deemed an original, and all of which together shall constitute
       one and the same instrument.

Datameg Corporation

By: /s/ Andrew Benson	       /s/ Andrew Benson
---------------------           ------------------
Name: Andrew Benson	          Andrew Benson
Title: Chairman of the BoardEXHIBIT 10.1

                              ENGAGEMENT AGREEMENT

     This Engagement Agreement (this "Agreement") is made this 28th day of
April, 2005, by and between (i) DataMeg Corp (the "Company"), a Delaware
corporation with its principal place of business at 9 West Broadway, Suite 214,
Boston, Massachusetts 02127, and (ii) 350 Group LLC ("350 Group"), a Delaware
limited liability company, with its principal place of business at 350 Fifth
Avenue South, Suite 203, Naples, Florida 34102.

                                    RECITALS

    WHEREAS, the Company, through its direct wholly-owned subsidiary, North
Electric Company, Inc., a North Carolina corporation, owns certain VoIP
monitoring, voice quality measurement, and fault isolation methodologies,
software and related technology and has certain technical and services expertise
related thereto which it wishes to broadly market and sell;

    WHEREAS, 350 Group has business development, management consulting, and
corporate financing expertise; and

    WHEREAS, the Company desires to engage the services of the 350 Group and 350
Group desires to be engaged for the services and responsibilities set forth
herein (the "Engagement");

    NOW THEREFORE, in consideration of the mutual covenants and promises herein
and other valuable consideration, the receipt and adequacy of which each party
acknowledges, the parties, intending to be legally bound, agree as follows:

1. OBJECTIVE OF ENGAGEMENT; SERVICES OF 350 GROUP

   The objective of this Engagement shall be for 350 Group to assist the Company
in navigating from its developmental stage operations to the level of
sustainable commercial going concern.  For the Term of Engagement (as
hereinafter defined), 350 Group agrees to provide to the Company a range of
consultative and related services which shall include, but not necessarily be
limited to, the following: (i) identifying, evaluating and advising in relation
to the Company's current financial, operational, managerial, strategic and/or
business model needs and objectives, (ii) preparing and coordinating with the
Company and others in the development of appropriate confidential descriptive
memoranda, investor presentations and financial models which can be used for the
purposes of developing potential investor participation in the Company, (iii)
identifying potential sources of private and/or public financing ("Financing
Sources"), including those involving transactions requiring issuance by the
Company of either equity, debt and/or equity-linked securities ("Financing
Transactions") and advising in relation to potential Financing Transactions,
(iv) identifying potential trading partners, contract manufacturers, marketing
and distribution alliances, licensees, multi-level marketing channels and/or
joint venture partners ("Strategic Relations") and negotiating, structuring
and/or advising in connection with the establishment and ongoing development of
Strategic Relations, and (v) such other matters as outlined in Exhibit A hereto,
and may be mutually agreed upon from time to time.

2. TERM OF ENGAGEMENT

   The Engagement shall be effective as of the date of this Engagement Agreement
(subject to the Company satisfying the conditions precedent to effectuation of
this Agreement) for a period of thirty six (36) months, or if terminated early,
pursuant to the early termination provisions set forth in Section 5, until the
Termination date (the "Term of Engagement" or "Term").  Thereafter, the
Engagement shall automatically renew on a month-to-month basis, subject to the
right of either party to terminate the Engagement in accordance with Section 5
hereof, as of the end of any given month by giving written notice to the other
party at least thirty (30) days prior to the end of any month. The date upon
which the Agreement expires or is terminated, as provided in this Section 2 and
Section 5 hereafter, shall be known as ("Termination").

3. COMPENSATION

   In consideration for the services rendered by 350 Group to the Company
pursuant to this Agreement, and throughout the Term of Engagement, the Company
shall compensate 350 Group according to the schedules set forth in Exhibit B.

4. EXPENSES

   The Company shall reimburse 350 Group, promptly upon submission of
documentation evidencing expenses for all allowable fees and disbursements of
350 Group's travel and out-of-pocket expenses reasonably incurred in connection
with the services performed by 350 Group pursuant to this Agreement, including
without limitation, airfare, hotel, food and associated expenses, long-distance
telephone calls, and mileage (reimbursed at the standard federal government rate
of $0.365 per mile).  The Company further agrees that wherever possible, it will
utilize the Company's travel agency account in arranging for airfare for 350
Group personnel.  All reimbursable travel will be subject to the Company's pre-
approval.

5. TERMINATION

   After the first 180 days of the Term, a party shall have the right to
terminate the Engagement by giving written notice to the other party at least
thirty (30) days prior to the effective termination date.  Upon any such
Termination, the Company shall promptly pay all outstanding invoices owed to 350
Group and 350 Group shall provide to the Company a definitive list of all the
parties to whom 350 Group has introduced the Company in accordance with this
Agreement.  Receipt of this list shall constitute the Company's agreement with
the names contained therein unless within ten (10) business days of receipt of
same, the company notifies 350 Group that it disputes particular names on the
list.  In such event, the parties agree to negotiate in good faith to develop a
mutually agreeable subset of such parties. Failure of the Company to acknowledge
this list will be deemed that the Company agrees with every party listed on 350
Group's original submission of the list.  Notwithstanding the foregoing, in the
event the Company breaches any aspect of this agreement or 350 Group becomes
aware that the Company has made any material misrepresentations or omissions
either to 350 Group or to any potential investors during the Engagement, then
350 Group shall have the right to immediately terminate this Agreement.
Similarly, in the event that the Company becomes aware of willful misconduct or
gross negligence on the part of 350 Group in the performance of its duties
hereunder, the Company has the right to immediately terminate this Agreement.

   POST-TERMINATION NOTICE

   If at any time prior to 18 months after the termination or expiration of this
Agreement a Financing Transaction is consummated with a party introduced by 350
Group during the period of this Engagement, the Company will promptly provide
350 Group with written notice of the Transaction and promptly pay to 350 Group
or make mutually satisfactory arrangements to pay to 350 Group all Additional
Compensation due to 350 Group.

6.  NON-EXCLUSIVITY OF 350 GROUP SERVICES

    It is understood and acknowledged by the Company that 350 Group presently
has, and anticipates having throughout the Engagement Term, other clients for
which it performs the same or similar services to those to be performed in
accordance herewith, and that 350 Group shall be under no obligation under this
Engagement to restrict its ability in any way to perform services for any other
clients.  350 Group shall use commercially reasonable efforts to fulfill its
obligations under this Agreement.

7.  ROLE OF FINDER

    In connection with any Financing Transactions hereunder, the Company
acknowledges that 350 Group is not a registered broker-dealer under Section 15A
of the U.S. Securities Exchange Act of 1934, or any similar state law, and that
350 Group cannot, and shall not be required hereunder to, engage in the offer or
sale of securities for or on behalf of the Company.  While 350 Group has
preexisting relationships and contacts with various investors, registered
broker-dealers and investment funds, 350 Group's participation in any actual or
proposed offer or sale of Company securities shall be limited to that of an
advisor to the Company and, if applicable, a "finder" of investors, broker-
dealers and/or funds. The Company acknowledges and agrees that the solicitation
and consummation of any purchases of the Company's securities shall be handled
by the Company or one or more NASD member firms engaged by the Company for such
purposes.

8.  REFERRAL FEES

    Any referral fees that are agreed to by 350 Group and are payable in
connection with any Financing Transactions shall be the exclusive responsibility
of, and shall be paid by 350 Group.

9.  COOPERATION BY COMPANY

     In order to enable 350 Group to provide the services requested, the Company
agrees to provide to 350 Group, among other things, all information reasonably
requested or required by 350 Group including without limitation information
concerning historical and projected financial results with respect to the
Company and its subsidiaries and possible and known litigation, environmental
and/or other contingent liabilities.  The Company also agrees to make available
to 350 Group such representatives of the Company, including, among others,
directors, officers, employees, outside counsel and independent certified public
accountants, as 350 Group may reasonably request to answer questions and to
provide documentary and other information.

10.  LIMITATION ON USE OF CERTAIN INFORMATION

     The Company acknowledges that all services and advice (written or oral)
provided by 350 Group to the Company in connection with the Engagement are
intended solely for the benefit and use of the Company in considering the
subject matter to which they relate, and the Company agrees that no person or
entity (including shareholders of the company) other than the Company shall be
entitled or advised to make use of or rely upon the advice of 350 Group provided
pursuant hereto, and no such opinion or advice shall (i) be used for any other
purpose or reproduced, disseminated, quoted or referred to at any time, in any
manner or for any purpose, or (ii) filed with, included in or referred to in
whole or in part in any registration statement, proxy statement or any other
document, in either case without 350 Group's prior written consent or as
required by law or stock exchange rules.  In any event, neither the Company nor
any other parties may use the 350 Group name in any public references, press
releases or public filings in connection with the Company without 350 Group's
prior written consent or as required by law or stock exchange rules.

11.  RELIANCE BY 350 GROUP ON ACCURACY OF INFORMATION

     The Company recognizes and acknowledges that, in advising the Company and
in fulfilling the Engagement hereunder, 350 Group will use and rely on data,
material and other information furnished to 350 Group by the Company. The
Company agrees that 350 Group may do so without independently verifying the
accuracy or completeness of such data, material or other information. The
Company represents and warrants that any such data, material or information
shall be true and accurate and shall not, as of the time communicated, contain
any untrue statement of a material fact or omit in all material respects to
state a material fact required to be stated therein or necessary in order to
make the statements therein, in light of the circumstances under which they were
made, not misleading.  Further, the Company agrees to promptly inform 350 Group
if it becomes aware that any information previously provided to 350 Group
becomes incorrect or would be misleading in any material respect promptly upon
becoming aware that such previous information provided to 350 Group is
misleading or would no longer be correct.

12.  NON-DISCLOSURE AGREEMENT

13.1	Definition of "Confidential Information"

        Confidential Information means proprietary information relating to the
   Company which is not generally known and available to the public,  and
   includes (without limitation): Trade Secrets (as defined below) and
   information relating to trade methods; methods of doing business; research
   and development; invention; the identity, prior requirements, and present or
   future particular needs, of clients of the Company; the identity of and
   background information about purchasing, contracting, recruitment, and
   management personnel of clients of the Company; all orders, bids, and
   quotations, with or related to past, present and prospective clients of the
   Company and all clients and prospect files, lists, records, studies, surveys,
   reports, correspondence and similar materials related to the foregoing; the
   identity, particular skills, work history and evaluations of personnel,
   including personnel listed in any database of the Company, especially their
   most recent work history and skills; profit margins, and pricing policies and
   practices, in general and as to particular clients; sales and marketing
   techniques, history, data forecasts, and material, in general and as to
   particular clients; development plans; and personnel training techniques and
   materials; and information in respect of which the Company is bound by an
   obligation of confidence to a third party.

13.2	Definition of "Trade Secrets"

        Trade secrets shall mean all information, whether or not Confidential
  Information, included within the definition of "Trade Secrets" under the law
  of any state in which 350 Group provides services for the Company or, in the
  absence of any such definition, as defined in the Uniform Trade Secrets Act.

13.3	Acknowledgement of Company-Owned Information

        350 Group acknowledges that all Confidential Information is owned by and
  shall continue to be owned by the Company.

13.4	Return of Property

        Upon the termination of this Agreement, regardless of why the Agreement
    terminates, upon written request by the Company, 350 Group shall return to
    the Company all Confidential Information indicated by the Company in its
    notice letter as well as any other Confidential Information that 350 Group
    is aware that it has, in whatever form it exists, including all copies
    thereof.  The Company agrees that so long as 350 Group has made a good faith
    effort to return all such Confidential Information, 350 Group shall be
    deemed to have complied with the provisions of this paragraph 13.4.  The
    Company may at anytime call to 350 Group's attention that certain additional
    Confidential Information needs to be returned and 350 Group shall promptly
    search for such additional Confidential Information and return it to the
    Company.  The Company agrees that 350 Group may delete any information that
    is proprietary to 350 Group that may be contained within the Company's
    Confidential Information.

13.5	Non-Disclosure.

        350 Group agrees that, during the term of the Engagement and for a
   period of three (3) years after the expiration or Termination of this
   Agreement, regardless of the reason for such Termination, 350 Group will not
   reveal or disclose any such Confidential Information to any third party
   unless the Company has consented, or unless required by law, a court or
   agency of the government; provided, however, that 350 Group is authorized to
   disclose such Confidential Information in connection with a potential
   Transaction in a manner consistent with customary industry practices in
   connection with the provision of services under this Agreement.  Neither the
   previous paragraph nor any restriction, non- disclosure or use limitation or
   other obligation contained in this Agreement shall apply to any information,
   data or item of any kind which is: (i) in the public domain, through no
   action of 350 Group; (ii) already known by 350 Group at the time it is
   provided to 350 Group by the Company; (iii) disclosed to 350 Group by any
   person or entity not known by 350 Group to be under an obligation of
   confidentiality to Company; or (iv) independently developed or derived by 350
   Group.

13. INDEMNIFICATION In consideration of 350 Group signing this Agreement and
    performing hereunder, the Company agrees to indemnify and hold harmless 350
    Group and each of its directors, officers, agents, employees and controlling
    persons (within the meaning of the Securities Act of 1933, as amended) to
    the extent and as provided in Exhibit C attached hereto and incorporated
    herein by reference. The provisions of this Section 14 and Exhibit C shall
    survive any expiration or termination of this Agreement and shall be binding
    upon any successors or assigns of the Company.

14. NATURE OF ENGAGEMENT; LIMITATION ON AUTHORITY TO BIND

    350 Group shall perform its services hereunder as an independent contractor
and not as an employee of the Company or an affiliate thereof.  It is expressly
understood and agreed by the parties hereto that 350 Group shall have no
authority to act for, represent or bind the Company or any affiliate thereof in
any manner, except as may be agreed expressly by the Company in writing from
time to time.  In addition, the terms and conditions of any Transaction that
gives rise to a Compensable Event shall be subject to acceptance by the Company
in its sole and absolute discretion.

15. ASSIGNMENT OF COMPENSATION

    Without the prior written consent of the other party, neither party may
assign this Agreement or any of its rights or obligations under this Agreement
to any third party, whether by operation of law, merger or otherwise.  The
Company agrees that 350 Group, in its sole discretion, shall have the absolute
right to assign in whole or in part any compensation due hereunder to any of its
affiliates (within the meaning of the Securities Act of 1933, as amended),
officers, directors, employees, subcontractors or member(s) by notifying the
Company in writing of such assignment of compensation prior to such compensation
becoming due.

16. MISCELLANEOUS

17.1	Entire Agreement

        This Agreement constitutes the entire agreement and understanding of the
    parties hereto, and supersedes any and all previous agreements and
    understandings, whether oral or written, between the parties with respect to
    the matters set forth herein.

17.2	Communication

       Any notice or communication permitted or required hereunder shall be in
    writing and shall be deemed sufficiently given if hand-delivered or sent (i)
    postage prepaid by reputable next business day delivery service or certified
    mail, return receipt requested, or (ii) by facsimile (with electronic
    confirmation of delivery received) to the respective parties as set forth
    below, or to such other address as either party may notify the other of in
    writing:

	If to the Company, to:	President & CEO
                                DataMeg Corporation
                                9 West Broadway, Suite 214,
                                Boston, Massachusetts  02127
		                Attn: Mark P. McGrath

	If to 350 Group, to:  	350 Group, LLC
                                350 Fifth Avenue, Suite 203
                                Naples, Florida  34102
                                Attn: Reznor I. Orr

17.3	Binding Agreement

      This Agreement shall be binding upon and inure to the benefit of each of
the parties hereto and their respective successors, legal representatives and
assigns.

17.4	Representations

      Each of 350 Group and the Company represents that it has the power to
enter into this Agreement and to carry out its obligations hereunder.  This
Agreement constitutes the valid and binding obligation of the Company and 350
Group and is enforceable in accordance with its terms.  Each of 350 Group and
the Company further represents that this Agreement does not conflict with or
breach any agreement to which it is subject or by which it is bound.
Furthermore, the Company represents that the shares outstanding as of April 1,
2005 is 292,429,607 shares.

17.5	Counterparts

       This Agreement may be executed in any number of counterparts, each of
which together shall constitute one and the same original document.

17.6	Amendments

        No provision of this Agreement may be amended, modified or waived,
except in a writing signed by all of the parties hereto.

17.7	Arbitration

        All claims arising out of the interpretation, application or enforcement
of this Agreement including, without limitation, any breach hereof, shall be
settled by final and binding arbitration in Naples, Florida in accordance with
the commercial rules then prevailing of the American Arbitration Association by
a panel of one (1) arbitrator appointed by the American Arbitration Association.
The decision of the arbitrator shall be binding on 350 Group and the Company and
may be entered and enforced in any court of competent jurisdiction by either
party.  The arbitration shall be pursued and brought to conclusion as rapidly as
is possible.  In no event shall any claims decided in the favor of the Company
exceed the amount of any compensation paid to 350 Group.  Each of 350 Group and
the Company waives all right to trial by jury in any action, proceeding or
counterclaim (whether based upon contract, tort or otherwise) related to or
arising out of the Engagement of 350 Group pursuant to, or the performance by
350 Group of, the services contemplated by this Agreement.  The Company may
enforce Section 13 of this Agreement (Non-Disclosure) in any court of competent
jurisdiction, and 350 Group consents to jurisdiction of any such court.

17.8	Governing Law

       This Agreement shall be governed by, and construed in accordance with the
provisions of the law of the State of Florida, without reference to provisions
that refer a matter to the law of any other jurisdiction.

17.9	Breach

       If either party knowingly or intentionally breaches this Agreement or
proposes to breach this Agreement by repudiating its obligation to perform in
any material respect prior to the time for performance, as determined by an
arbitrator in accordance with paragraph 17.7, then such party shall pay the
other all costs and expenses, including attorney's fees and arbitration fees,
reasonably incurred by the damaged party in enforcing this Agreement.

17.10	No Presumption and Opportunity to Review

       The fact that this Agreement was drafted by one party shall create no
presumptions and specifically shall not cause this Agreement or any part hereof
to be construed against any party as the drafter.  The Company hereby represents
that it has had a full and fair opportunity to have this Agreement, and all
related documents referred to herein, reviewed by counsel of its own choice.

17.11	Notification

       During the Term of this Engagement and all extensions thereto, the
Company agrees that it will not directly or indirectly initiate any discussions
or other contacts or solicit any inquiries or indications concerning a Financing
Transaction except through 350 Group.  The Company further agrees that it will
promptly inform 350 Group, or cause 350 Group to be informed, of the identity of
any third party that subsequently makes any such inquiry or whose interest in a
possible Financing Transaction becomes known to the Company after the date of
this agreement.

17.12	Brokers

        The Company represents to 350 Group, that all brokers, representatives,
or other persons that have an interest in any compensation due from the Company
for any Transaction (as contemplated hereby) as of the date of this Agreement is
fully disclosed in Exhibit D.  The Company further agrees to immediately notify
350 Group in the event that it enters into any agreement in the future that may
give rise to any compensation due to a third party for a transaction that would
infringe on 350 Group's rights under this Agreement.

  IN WITNESS WHEREOF, the undersigned have duly executed this Agreement, or have
caused this Agreement to be duly executed on their behalf, as of the day and
year first hereinabove set forth.

350 GROUP, LLC

/s/ Reznor I. Orr
--------------------
Reznor I. Orr
Managing Director
350 Group, LLC

DATAMEG CORP

/s/ Mark P. McGrath
----------------------
Mr. Mark P. McGrath
Chairman of the Board of Directors
DataMeg Corp

                                   EXHIBIT A

                       CONSULTATIVE AND RELATED SERVICES

350 Group will provide to the Company a range of consultative and related
services addressing as a minimum the following topics:

(1)	Board of Directors.  Assist DataMeg in the formation of an appropriate
Board of Directors for DataMeg/NECI;

(2)	Business Planning.  Assist DataMeg Management in preparation of a full
business plan including a 5-year planning horizon; the financial plan and cash
flow plans will include operating budgets, revenue and profit model and related
revenue forecast;

(3)	Financing.  Assist in identifying the capital needs of the Company and
sources of financing capital by means of private placement of debt and/or
equity, to properly capitalize the company's general working capital fund and to
support the company's Board-approved business development and operations plans
at a business-appropriate level; provide assistance in the preparation of the
company's private offering memoranda and subscription documents (in
collaboration with DataMeg Chairman and the company's securities counsel);

(4)	Use of Financing Proceeds.  Assist DataMeg management to establish a
firm "use of proceeds" for each of its financings to ensure investor confidence
in the company's direction and fiduciary responsibilities;

(5)	Near-Term Working Capital.  Assist DataMeg management in obtaining
additional working capital to support operations focused on trials with Time
Warner Cable, Sprint and other of the leading cable utility companies in USA and
abroad;

(6)	Financial and Cash Flow Planning and Reporting.  Assist DataMeg
management in all aspects of cash flow planning and management with routine
reporting and accountability to its DataMeg parent;

(7)	Equipment Lease Finance.  Assist DataMeg management in obtaining
equipment lease financing as a sales tool in connection with DataMeg equipment
offerings to its prospective network equipment customers;

(8)	Distribution Channel Partnerships.  Assist DataMeg Management in
developing sustainable "distribution channel relationships" that include 350
Group's executive and board-level relationships with enterprise network
customers among the leading industrial network owners, and state and federal
government network operators;

(9)	Executive and Management Team Development.  Assist DataMeg management in
building its executive and management team;

(10)	Forecasting Revenue Visibility.  Assist DataMeg management to forecast
(with sound quantitative modeling) its financial performance, enable responsible
and credible industry analyst and market maker coverage of DataMeg and DataMeg
business and securities;

(11)	Technical Advisory Board.  Assist DataMeg Management in recruiting a
world-class Technical Advisory Board with a program to build professional and
peer credibility for the company's technology and product leadership; and

(12)	Corporate Communications and Website.  Coordinate, in collaboration with
DataMeg Board all press announcements and corporate communications and
disclosure strategies for building stakeholder and investor credibility in the
company's public disclosures, including content provided via the company's
website; this may include appointment of a high-quality financial PR firm.

                                   EXHIBIT B

                            PERFORMANCE COMPENSATION

B.1	Engagement Retainer

	350 Group waives it normal engagement fee and elects to receive its
	compensation based upon performance criteria for the services rendered
	under this Engagement.

B.2	Performance Compensation

	350 Group shall be compensated for it performance ("Performance
	Compensation") in connection with certain transactions, Company
	milestones and other events ("Compensable Events") throughout the
	Engagement and thereafter, the amount of which Performance Compensation
	shall be determined in each case with reference to the following
	corresponding sub-sections:

B.2.1	Financing Transactions

	For purposes of Financing Transactions involving a Financing Source
	"introduced" directly or indirectly to the Company by 350 Group, and
	whether occurring during the Term of Engagement or during a period
	ending twelve (12) months following Termination, Performance
	Compensation shall be payable to 350 Group upon the closing thereof in
	accordance with the following schedule for the type of security
	indicated, where "Consideration" shall mean (i) the total amount of
	gross proceeds received by the Company without condition as part of any
	such Financing Transaction, and (ii) any common stock or other
	securities of any company (including without limitation any warrants,
	options and/or convertible securities) issued or otherwise transferred
	to the Company as a direct or indirect part of such Financing
	Transaction.  For the purposes of this section, the term "introduced"
	shall be defined as either (i) an introduction by 350 Group whereby a
	meeting took place, either in person or telephonically and that meeting
	included an officer of the company either in person or telephonically or
	(ii) whereby 350 Group delivered, on the Company's behalf, information
	in writing or by electronic mail with respect to a Financing Transaction
	to any Financing Source.  In addition, any Financing Sources that are
	introduced to the Company by a party "introduced" by 350 Group shall be
	deemed to have been "introduced" by 350 Group.

(A)	Placement of Equity and Equity-Linked Securities.

	For the purposes of this section, a security shall be deemed to be an
	equity-linked security if it is convertible in whole or in part into any
	form of equity security that the Company currently has or contemplates
	offering.  350 Group shall be paid additional compensation in the form
	of US funds, an amount equal to Five Percent (5%) of the Consideration.
	If Performance Compensation is taken in the form of Company stock, the
	Company additionally agrees to pay registration fees (except for selling
	stockholder commissions) with regard to issuance of such stock to 350
	Group.

(B)	Placement of Debt Securities

	350 Group shall be paid Performance Compensation in the form of US funds
	an amount equal to 5% of the Consideration obtained from placement of
	the Company's debt securities.

B.2.2	Performance Compensation

	Upon the Effective Date of this Agreement, 350 Group will be granted a
	Non-Qualified Stock Option exercisable into 94,000,000 shares of
	DataMeg's common stock, par value $0.0001/share ("The Performance
	Pool").  Such option will be issued with a strike price of $0.10/share.
	The security will vest in favor of 350 Group according to the vesting
	schedule below, during the term of this Agreement and extending
	thereafter for a period of eighteen (18) months.  The Non-Qualified
	Stock Options will be free of restrictions and the underlying common
	stock will be freely tradable in accordance with securities law or stock
	exchange rules.  The performance milestones and vesting schedule are as
	follows:

<table>
<caption>
                  <c>                                       <c>
               Company Milestone	                     Stock Vesting Schedule
-------------------------------------------------------|-------------------------------------
1.Capital Raise of each $1MM introduced by 350 Group   | 5% of Performance Pool for each
                                                       | $1MM raised, up to a maximum of
                                                       | 25% of Performance Pool
-------------------------------------------------------|-------------------------------------
2.North Electric Signs Long-Term Sales or Services     |
  Agreement with Major VoIP services provider          |
  (such as Sprint, Cox or similar)	               | 10% of Performance Pool
-------------------------------------------------------|-------------------------------------
3.North Electric Signs Long-Term Sales or Services     |
  Agreement with a major Federal Government IP         |
  Telephony Network Systems Provider (such as Nortel)  | 10% of Performance Pool
-------------------------------------------------------|-------------------------------------
4.North Electric Signs Long-Term Sales or Services     |
  Agreement with a Fortune 500 IP Telephony Network    |
  Systems Client	                               | 10% of Performance Pool
-------------------------------------------------------|-------------------------------------
5.Implementation at North Electric of Business Systems |
  that produce routine financial reporting to DataMeg  |
  Chairman and Board	                               | 20% of Performance Pool
-------------------------------------------------------|--------------------------------------
6.North Electric books aggregate revenue of $10 MM,    |
  with no material contingencies                       | Remaining balance of Performance Pool
-------------------------------------------------------|--------------------------------------

</table>

B.3	Testimony & Related Matters

	If any employee or affiliate of 350 Group is required to give any
	testimony or otherwise provide information in any proceeding of any
	action (excluding any proceeding that involves a dispute directly
	between 350 Group and the Company) in which the services rendered by 350
	Group pursuant to this Agreement are the subject of examination, the
	Company agrees, as part of its obligations hereunder, to pay to 350
	Group $2,500 per employee or affiliate for each day or portion of any
	day that any of its employees or affiliates are required make themselves
	available to give such testimony or provide such information or spend
	time in preparation to do any of the foregoing plus reasonable out-of-
	pocket expenses including any reasonable airfare.

B.4	Warrants.

	In the event that warrants become issuable to 350 Group in connection
	with any Compensable Event hereunder, the parties agree that they will
	execute a separate warrant agreement ("Warrant Agreement") for each such
	Compensable Event within 10 business days of the consummation of such
	Compensable Event.  Each Warrant Agreement shall be for a term of 5
	years from the date of issue and shall contain customary terms and
	provisions for such an agreement, including, but not limited to,
	provisions for (a) unlimited "piggy-back" registration rights, (b) a
	cashless exercise feature, and (c) an exercise price equal to the
	closing or last trade price of the company's common stock on the
	issuance date.

B.5	Securities Law Matters.

	In accordance with Federal securities law, none of the Company, 350
	Group, nor any of the agents of either party shall engage in general
	solicitation or general advertising as described in Rule 502 under the
	Securities Act of 1933, as amended. Similarly, neither 350 Group nor any
	of its agents may offer any securities of the Company to any individuals
	or entities who or that are not accredited investors, as defined in Rule
	501 under the Securities Act of 1933, as amended.

                                   EXHIBIT C

                                INDEMNIFICATION

Pursuant to the foregoing Agreement dated April 28, 2005 (the "Agreement"),
DataMeg Corp, a Delaware corporation, and its affiliates (together with any new
companies that may be established to facilitate financing, merger or acquisition
of DataMeg Corp hereafter referred to as the "Company") agrees to indemnify and
hold harmless 350 Group, LLC. ("350 Group"), together with its respective
officers, directors, shareholders, employees and agents, and each person, if
any, who controls 350 Group and any of its affiliates within the meaning of the
Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as
amended, (all of the foregoing are referred to collectively as "Indemnified
Parties" and individually as an "Indemnified Party"), from any and all losses,
suits, actions, judgments, penalties, fines, costs, damages, liabilities or
claims of any kind or nature, whether joint or several, (including, without
limitation, any reasonable legal or any other expenses as they are incurred by
an Indemnified Party in connection with the preparation for or defense of any
action, claim or proceeding, whether or not resulting in any liability) (all of
the foregoing being collectively defined as the "Indemnified Claims") to which
such Indemnified Party may become subject or liable or which may be incurred by
or assessed against any Indemnified Party under any statute, common law,
contract or otherwise, relating to or arising out of any of:  (a) any actions or
omissions of the Company constituting willful misconduct or negligence or anyone
acting on the Company's behalf, including its employees, officers, advisors,
directors and agents; (b) breaches of this Agreement or the Company's obligation
pursuant to the Agreement; (c) any securities, tax, corporate, or other filings
of the Company; or (d) any Transactions referred to in the Agreement or any
transactions arising out of the Transactions contemplated by the Agreement;
provided, however, that the Company shall not be liable to an Indemnified Party
in any such case solely to the extent that any such Indemnified Claim is found,
in a final judgment by a court of competent jurisdiction, to have resulted as a
direct and proximate cause from said Indemnified Party's willful misconduct or
negligence in the performance of their duties on behalf of the Company or any
violation of law or stock exchange rule by any Indemnified Party.  No
Indemnified Party shall have any liability to the Company or any other person in
connection with the services rendered pursuant to this Agreement except for any
liability for losses, claims, damages or liabilities finally judicially
determined to have resulted solely and exclusively from actions taken or omitted
to be taken as a direct result of such Indemnified Party's negligence or willful
misconduct.  Promptly after receipt by an Indemnified Party of notice of the
occurrence of an Indemnified Claim, or any claim or the commencement of any
action or proceeding in respect of which indemnity may be sought against the
Company, such Indemnified Party will notify the Company in writing of the
commencement thereof or of such Indemnified Claim, and the Company shall
immediately assume the full defense thereof (including the employment of counsel
reasonably satisfactory to the Indemnified Party and the payment of the fees and
expenses of such counsel).  Failure of an Indemnified Party to give prompt
notification to the Company of an Indemnified Claim will not in any way affect
the Company's obligation to indemnify 350 Group except to the extent that such
delay is materially prejudicial to the Company.  Notwithstanding the preceding
sentences, the Indemnified Party will be entitled to choose and employ its own
counsel in such circumstance if the Indemnified Party is advised in a written
opinion of counsel that a conflict of interest exists which makes representation
by counsel chosen by the Company not advisable.  In such event, the reasonable
fees and disbursements of such separate counsel will be paid by the Company.

                                   EXHIBIT D

                      THIRD-PARTY COMPENSATION AGREEMENTS

Description of all compensation arrangements with third-party brokers,
representatives or persons with respect to financial transaction (as
contemplated in this Agreement) as of the date of this Agreement:

                                      None

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