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EXHIBIT 10.29

              CONFIDENTIAL SETTLEMENT AGREEMENT AND MUTUAL RELEASE

      THIS CONFIDENTIAL SETTLEMENT AGREEMENT AND MUTUAL RELEASE (the "Settlement
Agreement") is entered into this November 17, 2005 (the "Effective Date") by and
between Advanced  BioPhotonics  Inc.,  having its principal office at 125 Wilbur
Place,  Suite  120,  Bohemia,  New York  (the  "Company")  and  Trilogy  Capital
Partners, Inc., having its principal office at 11726 San Vicente, Suite 235, Los
Angeles, California ("Trilogy").

                                   I. RECITALS

A. WHEREAS,  on or about June 22, 2005, the Company  entered into a Confidential
Non-Disclosure and Non-Circumvention Agreement with Trilogy (the "CNA");

B.  WHEREAS,  on or about July 14, 2005,  the Company  entered into a Consulting
Agreement with Trilogy (the "CA");

C. WHEREAS,  on or about July 25, 2005, the Company  entered into a Finder's Fee
Agreement (the "FFA") with Trilogy;

D. WHEREAS, on or about September 14, 2005, the Company entered into a Letter of
Engagement with Trilogy (the "LOE");

E.  WHEREAS,  on or about  September  14, 2005,  pursuant to the LOE the Company
issued Two Million Four Hundred  Thousand  (2,400,000)  warrants to Trilogy (the
"Warrants");

F. WHEREAS, on November 14, 2005, the Company entered into a Securities Purchase
Agreement  with The NIR Group  securing  Four Million  Dollars  ($4,000,000)  in
financing  in the form of an 8%  Callable  Secured  Convertible  Note  (the "NIR
Financing"); and

G.  WHEREAS,  the parties  desire to terminate the LOE, the CNA, the FFA, the CA
and the  Warrants,  to settle,  pursuant to the terms and  conditions  set forth
herein  below,  all claims  between them in any way related to the CNA, the FFA,
the LOE,  the CA or  issuance  of the  Warrants,  the  relationship  between the
parties, any claim to commissions, finder's fees or other monetary consideration
and wish to  terminate  any  relationship  which may have  existed  between  the
parties.

                                  II. AGREEMENT

NOW, THEREFORE, the parties mutually agree as follows:

1.    Consideration. The Company shall:

      A. Execute and deliver a check made payable to Trilogy  Capital  Partners,
Inc. representing three percent (3%) of the gross proceeds of the NIR Financing,
payable in installments, as the funds are transferred to the Company;

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      B.  Execute  and deliver to Trilogy a signed  original of this  Settlement
Agreement;

      C. Accept return by Trilogy of the Warrants;

      D.  Concurrently with its execution of this Settlement  Agreement,  pay to
Trilogy:  (i)  $1,664.04 to reimburse  Trilogy for third party  marketing  costs
advanced by Trilogy  pursuant to the LOE; and (ii) $6,250 for fees under the LOE
from the period October 14, 2005 through November 1, 2005; and

      E. Agree to the  termination of all prior  agreements  and  understandings
between  Trilogy  and the  Company,  pursuant  to  Section 4 of this  Settlement
Agreement.

2.    Consideration. Trilogy shall:

      A. Execute and deliver to the Company a signed original of this Settlement
Agreement;

      B. Accept the  aforementioned  payment in Section 1.A as the sole monetary
consideration  for the  execution of this  Settlement  Agreement and the release
herein,  such payment  shall be in  accordance to the terms set forth in Section
1.A;

      C. Return and  relinquish  all right,  title and interest to the Warrants;
and

      D. Agree to the  termination of all prior  agreements  and  understandings
between  Trilogy  and the  Company,  pursuant  to  Section 4 of this  Settlement
Agreement.

3.    Mutual Release of Claims.

      A.  Conditioned upon receipt of the  consideration  set forth in Section 1
hereof,  Trilogy,  on  behalf  of  itself  and  on  behalf  of  its  affiliates,
subsidiaries,  officers,  directors,  agents,  representatives,  successors  and
assigns,  hereby  releases and forever  discharges  the Company and its past and
present affiliates,  subsidiaries,  officers,  directors, agents, successors and
assigns (the  "Trilogy  Released  Parties"),  from any and all claims,  demands,
obligations,  losses,  causes of action,  costs,  expenses,  attorneys' fees and
liabilities of any nature whatsoever, whether based on contract, tort, statutory
or other legal or equitable theory of recovery,  whether known or unknown, which
Trilogy has,  had or claims to have  against any or all of the Trilogy  Released
Parties,  including but not limited to any and all claims which relate to, arise
from, or are in any manner  connected  to: (i) the FFA; (ii) the LOE;  (iii) the
Warrants;  (iv) the CNA; (v) the CA; or (vi) any claimed  commissions,  finder's
fees or other monetary consideration, whether accrued or not.

      B.  Conditioned  upon  return of the  Warrants  as set forth in  Section 2
hereof and the  termination of all prior  agreements and  understandings  as set
forth in Section 4 hereof, the Company,  on behalf of itself and its affiliates,
subsidiaries,  officers,  directors,  agents,  representatives,  successors  and
assigns, hereby releases and forever discharges Trilogy and its past and present
affiliates,  subsidiaries,  officers,  directors, agents, successors and assigns
(the "Company Released Parties"), from any and all claims, demands, obligations,

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losses,  causes of action, costs,  expenses,  attorneys' fees and liabilities of
any nature whatsoever, whether based on contract, tort, statutory or other legal
or equitable  theory of recovery,  whether  known or unknown,  which the Company
has,  had, or claims to have against  Trilogy,  including but not limited to any
and all claims which relate to, arise from,  or are in any manner  connected to:
(i) the FFA; (ii) the LOE; (iii) the Warrants; (iv) the CNA; (v) the CA; or (vi)
any claimed commissions, finder's fees or other monetary consideration,  whether
accrued or not.

4.    Termination  of  Agreements.  The parties  hereto agree and confirm  that,
except for this Settlement Agreement, any and all agreements and understandings,
written or oral, including but not limited to the CNA, the FFA, the LOE, the CA,
and the Warrants  and the terms,  conditions  and  obligations  thereunder,  are
hereby  terminated  and are of no further force and effect.  All parties  hereto
agree that all of the terms,  conditions and  obligations,  including those that
are  expressly  agreed  to  survive  termination  in each of the  agreements  or
understandings,  will in fact be terminated,  and that this Settlement Agreement
supersedes  any  and  all of the  terms  of the  aforementioned  agreements  and
understandings.  The parties  expressly  agree that the Fee Period as defined in
the FFA shall  terminate as of the Effective Date of this  Settlement  Agreement
and Trilogy  acknowledges  that it is not  entitled to any finder's fee based on
any past,  present  or future  introduction  which,  this  Settlement  Agreement
notwithstanding,  would  have been a  Qualified  Introduction,  as that term was
defined in the FFA. The parties expressly release each other from any continuing
rights,  duties and/or  obligations  under any agreements and Trilogy,  together
with its  agents  and  representatives,  shall  make no  further  claim  for any
compensation.

5.    Waiver of California Civil Code ss.1542 and New York counterpart,  if any.
Each party knowingly and intentionally waives any protection afforded to them by
California  Civil Code ss.1542 with  respect to the release  under  Section 3 of
this Settlement Agreement, which provides:

      A general  release does not extend to claims  which the creditor  does not
      know or  suspect  to exist  in his  favor  at the  time of  executing  the
      release,  which  if  known  by  him  must  have  materially  affected  his
      settlement with the debtor.

Each party  further  waives any  protection  under any New York  counterpart  to
California Civil Code ss.1542.  Each party agrees that this Settlement Agreement
is intended to cover all claims or possible  claims arising out of or related to
those matters  referenced or impliedly covered in the general release referenced
above,   whether  the  same  are  known,  unknown  or  hereafter  discovered  or
ascertained,  and the provisions of ss.1542 of the California Civil Code and the
New York  counterpart (if any) are hereby expressly  waived.  The parties hereto
expressly  acknowledge  that they  have been  advised  by their  counsel  of the
contents  and effect of such  provisions,  and with such  knowledge  they hereby
expressly waive whatever benefits they may have pursuant to such provisions.

6.    Covenant Not to Sue. Each party  covenants and agrees that it will not, at
any time hereafter, either directly or indirectly, initiate, assign, maintain or
prosecute, or in any way knowingly aid or assist in the initiation,  maintenance
or  prosecution  of any  claim,  demand or cause of action at law or  otherwise,
against the other party,  its  affiliates,  officers or directors,  for damages,
loss or injury of any kind arising from,  related to, or in any way connected to
any activity with respect to which a release has been given  pursuant to Section
3 of this Settlement Agreement.

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7.    Proprietary  Information  Obligations.  Both parties will refrain from any
use or disclosure of the other party's  proprietary or confidential  information
or materials, unless such use is authorized in writing by an appropriate officer
of the disclosing party.

8.    Confidentiality.  The provisions of this Settlement Agreement will be held
in strictest confidence by Trilogy and the Company and will not be publicized or
disclosed in any manner whatsoever; provided, however, that: (a) the parties may
disclose this Settlement Agreement in confidence to their respective  attorneys,
accountants,  auditors,  tax preparers,  and financial advisors; (b) the Company
may disclose  this  Settlement  Agreement  as  necessary to fulfill  standard or
legally required  corporate  reporting or disclosure  requirements;  and (c) the
parties may disclose this Settlement Agreement insofar as such disclosure may be
necessary to enforce its terms or as otherwise required by law.

9.    Nondisparagement. The Company agrees not to disparage Trilogy or Trilogy's
officers, directors, employees,  shareholders and agents, and Trilogy agrees not
to  disparage  the  Company or the  Company's  officers,  directors,  employees,
shareholders  and agents,  in any manner  likely to be harmful to the Parties or
their businesses,  business reputations or personal  reputations;  provided that
Trilogy  and the  Company  may  respond  accurately  and fully to any  question,
inquiry or request for information when required by legal process.

10.   Return of Company Property. Within five (5) days after the Effective Date,
Trilogy  agrees to return to the Company all Company  documents  (and all copies
thereof) and other Company  property  that Trilogy has had in its  possession at
any time,  including,  but not  limited  to,  Company  files,  notes,  drawings,
records,  business plans and forecasts,  financial information,  specifications,
computer-recorded  information,  and any  materials  of any kind that contain or
embody any  proprietary  or  confidential  information  of the Company  (and all
reproductions  thereof),  together  with any  derivative  documents  created  by
Trilogy, its subcontractors or affiliates;  provided that Trilogy may retain one
copy of any and all such documents that it prepared, reviewed or utilized in the
performance of its services under the LOE,  provided that Trilogy shall keep all
such  documents  confidential  to the extent that they contain  confidential  or
proprietary information of the Company.

11.   Agreement  Not an Admission  of  Liability.  The parties  hereto agree and
acknowledge  that this Settlement  Agreement is a compromise  settlement of each
party's disputed claims,  and that the sums and covenants given in consideration
of  this  Settlement  Agreement,  as well as the  execution  of this  Settlement
Agreement, shall not be construed to be an admission of liability on the part of
any party with respect to the disputed matters set forth above.

12.   Entire Agreement.  This Settlement  Agreement  represents and contains the
entire agreement and understanding between the parties hereto and supersedes any
and all prior oral and written agreements and understandings. No representation,
warranty, condition,  understanding or agreement of any kind with respect to the
subject matter hereof, shall be relied upon by the parties except those

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contained  herein.  This  Settlement  Agreement  may not be amended or  modified
except by an  agreement  signed by the party  against  whom  enforcement  of any
modification or amendment is sought.

13.   Advice of Counsel. In entering into this Settlement Agreement, the parties
each  acknowledge  and  represent  that they have sought and  obtained the legal
advice of their  attorneys,  who are the  attorneys  of their own  choice.  They
further  represent  that  the  terms  of this  Settlement  Agreement  have  been
completely  read by  them,  and  that  those  terms  are  fully  understood  and
voluntarily accepted by them.

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

15.   No Assignment.  The parties each represent and warrant to one another that
they have not sold, assigned, transferred, conveyed or otherwise disposed of any
claim  or  demand  covered  by  this  Settlement  Agreement.  Trilogy  expressly
represents  and warrants that it has not pledged,  encumbered,  sold,  assigned,
transferred, conveyed or otherwise disposed of any of the Warrants.

16.   Heirs,  Successors and Assigns. This Settlement Agreement shall be binding
upon and inure to the benefit of the parties' respective legal heirs, successors
and assigns.

17.   Severability.   Should  any  portion  (word,  clause,  phrase,   sentence,
paragraph  or  section)  of  this  Settlement  Agreement  be  declared  void  or
unenforceable,  such portion shall be considered  independent and severable from
the remainder, the validity of which shall remain unaffected.

19.   Attorneys  Fees.  If any  action or  proceeding  is  brought to enforce or
interpret any provision of this Settlement Agreement, the prevailing party shall
be  entitled  to  recover  as an  element  of its  costs,  and not its  damages,
reasonable attorneys' fees to be fixed by the court. The prevailing party is the
party who is entitled to recover the costs of its action or proceeding,  whether
or not such  action  or  proceeding  proceeds  to final  judgment.  A party  not
entitled to recover its costs of suit may not recover  attorneys'  fees.  No sum
for attorneys' fees shall be counted in calculating the amount of a judgment for
purposes  of  determining  whether a party is  entitled  to recover its costs or
attorneys' fees.

20.   Judicial Interpretation.  Should any provision of this Agreement or any of
the representations  made herein require judicial  interpretation,  it is agreed
that a court  interpreting  or construing the same shall not apply a presumption
that the terms hereof or thereof  shall be more strictly  construed  against any
person by reason of the rule of construction  that a document is to be construed
more  strictly  against the person who itself or through its agent  prepared the
same, it being agreed that all parties have  participated  in the preparation of
this Agreement.

21.   Governing  Law.  This  Agreement  shall be  governed by and  construed  in
accordance with the laws of the State of New York,  without regard to its choice
of law provisions and any applicable laws of the United States.

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<PAGE>

      IN WITNESS WHEREOF, the parties have executed this Settlement Agreement by
their duly  authorized  representatives,  to be  effective  as of the date first
written above.

TRILOGY CAPITAL PARTNERS, INC.              ADVANCED BIOPHOTONICS INC.

By: /s/Paul Karon                        By: /s/Denis A. O'Connor
    --------------------------               -------------------------
Name:  Paul Karon                        Name:  Denis A. O'Connor
Title: President                         Title: President and CEOEXHIBIT 10.34

                              SETTLEMENT AGREEMENT

      This Settlement Agreement (the "Settlement  Agreement") is entered into as
of this 3rd day of October, 2001, by and between OmniCorder Technologies,  Inc.,
a Delaware  corporation  with its  principal  place of  business at 25 East Loop
Road, Stony Brook, New York ("OmniCorder"), and Dr. Michael Anbar, an individual
residing at 145 Deer Run Road, Amherst, New York ("Anbar").

      WHEREAS,  OmniCorder has filed, inter alia, a Summons With Notice, Amended
Summons and a Complaint  for a permanent  injunction,  declaratory  judgment and
damages and an Order to Show Cause and Motion for a Preliminary  Injunction with
the  Supreme  Court of the State of New York,  County  of  Suffolk,  encaptioned
OmniCorder  Technologies,  Inc. v. Dr.  Michael Anbar,  Index No.  01-06729 (the
"Action"),  requesting  the Court to enjoin  and  restrain  Anbar,  his  agents,
employees,   attorneys  and  any  other  persons  acting  on  his  behalf  from:
terminating,   attempting  to  terminate,  or  otherwise  interfering  with  the
exclusive  license  of  OmniCorder  to use  certain  patented  cancer  screening
technology;

      WHEREAS, Anbar has filed, inter alia,  affidavits,  a Memorandum of Law in
Opposition to  Plaintiff's  Motion for a Preliminary  Injunction,  as well as an
Answer and an Amended Answer to Plaintiff's Summons and Complaint, together with
Counterclaims against OmniCorder (collectively, the "Answer and Counterclaims");
and

      WHEREAS, the parties hereto now desire to settle and dispose of the Action
and the Answer and  Counterclaims  (the Action and the Answer and  Counterclaims
are hereinafter  referred to  collectively as the "Action")  solely to avoid the
costs and inconvenience associated with litigation, and without any admission of
fault or liability.

      NOW  THEREFORE,  in  consideration  of the  execution  of this  Settlement
Agreement and the mutual promises  contained herein, the parties hereto agree as
follows:

<PAGE>

      1. Continued Effect of Option Agreement to Purchase  Exclusive  License to
Use Patent Rights.  The parties hereto hereby agree that the Option Agreement to
Purchase  Exclusive  License to Use  Patent  Rights  dated  March 19,  1997,  as
heretofore  amended and  supplemented by the Amendments  dated July 23, 1997 and
September 13, 1997, and the Letter Agreement dated March 19, 1998 (collectively,
the  "License  Agreement"),  is, and shall remain in full force and effect as of
the date  hereof,  except  as  certain  of the  terms  thereof  shall  have been
expressly  modified by this  Settlement  Agreement and that  OmniCorder has duly
exercised its right to purchase, and has in fact purchased,  the License defined
and referred to therein.

      2. Withdrawal of Notice of Termination  with Prejudice;  Mutual  Releases.
Anbar hereby irrevocably withdraws the Notice of Termination, dated February 28,
2001, and irrevocably  waives and relinquishes  any and all claims,  or right to
claim, that OmniCorder  breached the terms of, or otherwise  defaulted in any of
its  obligations  under  the  License  Agreement  for,  upon or by reason of any
matter, cause or thing whatsoever,  whether known or unknown, from the beginning
of the world through and including the date hereof,  including,  but not limited
to, any and all of the matters  identified in the Notice of  Termination or that
certain letter dated June 30, 2000 from Lauren Rachlin,  Esq. to OmniCorder.  It
is specifically  agreed and understood that the foregoing release shall not, nor
is it intended to,  release  OmniCorder  from its obligation to pay to Anbar the
Royalty  due under the  License  Agreement  on  February  1, 2002 for DAT Breast
Cancer Screening  Systems installed by OmniCorder during the year ended December
31,  2001 or any future  rights of Anbar  which may arise in his  capacity  as a
shareholder of OmniCorder.  In this regard,  Anbar  acknowledges and agrees that
the License  Agreement does not afford him any  pre-emptive  rights or any other
guarantee that he will remain a 20%  shareholder  of OmniCorder,  and OmniCorder
acknowledges  that Anbar  currently  holds  1,320,000  shares,  or 14.42% of the
outstanding shares of common stock of OmniCorder,  being the only class of stock
outstanding.

<PAGE>

      OmniCorder hereby irrevocably releases and relinquishes any and all claims
or right to claim,  that Anbar  breached the terms of or otherwise  defaulted in
any of his obligations under the License Agreement for, upon or by reason of any
matter,  cause or thing whatsoever,  whether known or unknown from the beginning
of the world through and including the date hereof.

      3.  Satisfaction of Section TWO Obligations.  Subject to the provisions of
Paragraph 5 hereof,  the parties hereto hereby irrevocably agree that OmniCorder
has complied with all of its  obligations  under  Section  "TWO:  OTHER GOOD AND
VALUABLE  CONSIDERATION"  ("Section  TWO") of the License  Agreement  which were
required to be performed by  OmniCorder  through and  including the date hereof,
including,  without  limitation,  all funds to be  provided  and spent under the
GRANT (as defined in the  License  Agreement)  and all  property  and  equipment
referred to therein.  The parties  hereby also further agree that the provisions
of such Section TWO shall have no further force or effect. As such, Anbar hereby
irrevocably  waives  any and all  obligations  of  OmniCorder  which  could have
conceivably  arisen  under  such  Section  TWO from and after  the date  hereof,
including,  without limitation,  any and all obligations which could have arisen
under subparagraphs 4 and 5 thereof.

      4. Payment for each DAT Breast Cancer  Screening  System.  For purposes of
clarity and the  avoidance  of any future  disputes  between the parties  hereto
relating  to the  License  Agreement,  the  parties  hereto  agree  that for the
purposes of determining  whether the $300 fee contemplated by Section ONE of the
License  Agreement  is due and  payable in respect of any  installed  DAT Breast
Cancer  Screening  System (the "System"),  the term "a client's site" as used in
the License Agreement shall mean and refer to only those  installations at which
OCT derives any revenues  from  payments made to it by the user of the System at
such  installation,  and shall in no event include or refer to any installations
of the System for research, System testing,  charitable purposes or any purposes
other than breast cancer or diabetes  screening.  The parties further agree that
OmniCorder  shall,  together with any such annual Royalty,  provide Anbar with a
Royalty report setting forth, in reasonable,  verifiable  detail,  the basis for
the calculation of the Royalty due to Anbar.

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      5.  Transfer  of  Equipment  to  School  of  Medicine.  OmniCorder  hereby
irrevocably  sells,  assigns and  transfers,  as is, to the School of  Medicine,
SUNY-Buffalo,  all of its right,  title and interest in and to the one infra-red
camera, one temperature  calibration unit and one macro lens heretofore provided
to Anbar. Anbar will, on reasonable notice, during business hours, at a mutually
convenient  time,  within  10  days  of the  date  hereof,  make  available  for
inspection by and delivery to OmniCorder's designated representatives in Buffalo
the second  infra-red  camera,  the temperature  calibration  unit and the 50 mm
lens, all of which were provided to Anbar by OmniCorder  under the Grant.  Anbar
represents  and  warrants  to  OmniCorder  that to the best his  knowledge  such
equipment is in working  order.  As used in the foregoing  sentence,  the phrase
"working  order"  shall  mean  that  such  equipment  functions  in  substantial
compliance with its specifications.  If OmniCorder's designated  representatives
determine in good faith that the equipment is not in "working  order," then such
designated   representatives  shall  have  the  right  to  substitute  for  such
equipment, which is not in "working order," a like item of equipment hereinabove
designated  as equipment  to be  transferred  to the School of Medicine.  In the
event of such  substitution,  the  School of  Medicine  shall  take title to the
equipment  previously  provided to Anbar other than the  equipment  selected for
substitution  by  OmniCorder,  if  any;  title  to the  remaining  group  of the
equipment,  including that selected for substitution by OmniCorder, shall reside
with OmniCorder.

      6.  Exclusive  Bases to  Terminate  License.  In order to limit any future
disputes  between the parties  relating  to the License  Agreement,  the parties
hereto  agree that  notwithstanding  anything to the  contrary  set forth in the
License  Agreement,  the sole and  exclusive  bases under which Anbar may in the
future seek to terminate  the License  Agreement by reason of an alleged  future
default by OmniCorder  under same shall be by reason of either:  (1) the failure
by OmniCorder to pay the $300 fee for each complete DAT Breast Cancer  Screening
System  installed  at a client site  contemplated  by Section ONE of the License
Agreement,  as amended and clarified by Section 4 of this Settlement  Agreement;
(2) the  abandonment of License by OmniCorder as contemplated by Section FOUR of
the License Agreement;  (3) the failure of OmniCorder to permit Anbar to inspect
its books and records,  in accordance with Section TEN of the License Agreement;
or (4)  OmniCorder's  breach of its  obligation  to hold  harmless and indemnify
Anbar, in accordance with the second to last paragraph of the License Agreement,
in respect of any third party claims which may arise as a result of OmniCorder's
use of the System as a medical screening device.  Anbar  acknowledges and agrees
that  OmniCorder has no obligation to indemnify him in respect of his use of the
System.

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      Notwithstanding   anything  to  the  contrary  contained  in  the  License
Agreement,  any and all other future alleged defaults of the License  Agreement,
however  arising,  on any  other  legal,  factual  or other  basis,  are  hereby
irrevocably  waived  by Anbar  as  being a basis  for  terminating  the  License
Agreement.  By this waiver,  Anbar,  however,  does not in any respect waive his
future  right to enforce any or all of his rights  under the License  Agreement;
but rather he waives only the right to use any such other alleged  defaults as a
basis for seeking the termination of the License Agreement.

      In  addition,  Anbar  irrevocably  agrees that in the event of any alleged
default by reason of: (1) a failure to pay the $300 fee; (2) the  abandonment of
the License;  (3) the failure of OmniCorder to permit Anbar to inspect its books
and records in accordance with Section TEN of the License Agreement;  or (4) the
breach of the  obligation to hold harmless and  indemnify  Anbar,  in accordance
with  the  second  to last  paragraph  of the  License  Agreement,  all as above
contemplated, Anbar shall provide OmniCorder with written notice of such default
and an  opportunity  to cure  same for a period  of no less  than 45 days  after
receipt of such notice of default.  Moreover,  Anbar further  irrevocably waives
any right to  unilaterally  terminate  the  License  Agreement  should  any such
alleged  default  continue  beyond said 45 day cure  period;  rather the parties
irrevocably  agree to arbitrate  their  dispute with respect to any such alleged
default  in  accordance  with the  procedures  set  forth in  Section  7 hereof,
granting to the arbitrator the sole and exclusive right to determine  whether or
not the alleged default has, in fact, occurred. If OmniCorder determines in good
faith that a default shall not have occurred and the  arbitrator  finds in favor
of Anbar,  OmniCorder  shall be afforded a reasonable  opportunity  to cure same
following such decision (the "2nd Cure Period").  If the arbitrator finds that a
default did occur and that OmniCorder  lacked a reasonable  basis for taking the
action  or  omitting  to take an  action  that  resulted  in the  default,  then
OmniCorder  shall  pay  Anbar's  reasonable  attorney's  fees and  disbursements
incurred in connection  with such  arbitration;  if the arbitrator  finds that a
default did not occur and that Anbar lacked a reasonable basis for claiming such
default,  then  Anbar  shall pay  OmniCorder's  reasonable  attorney's  fees and
disbursements  incurred in connection with such arbitration;  in all other cases
the parties shall bear their respective attorneys fees and disbursements.  While
any such  arbitration  proceeding is continuing  and until the expiration of the
2nd Cure Period, the License Agreement shall remain in full force and effect.

                                       4
<PAGE>

      7.  Arbitration.  Any dispute,  controversy  or claim arising out of or in
connection with this  Settlement  Agreement,  or the License  Agreement shall be
determined  and settled by binding  arbitration  in the following  County in the
State of New York conducted by the American Arbitration  Association (the "AAA")
in accordance with the then existing commercial arbitration rules,  regulations,
practices and procedures of the AAA: Erie County for all arbitrations  commenced
by Anbar and  Suffolk  County  for all  arbitrations  commenced  by  OmniCorder;
provided,  however, that all arbitrations  involving a dispute pertaining to the
jurisdiction of or a determination by the Sub-Committee (as defined in paragraph
9  hereof),   shall  be  commenced  only  in  Suffolk  County.  The  arbitration
proceedings  shall be conducted before a single  arbitrator who will be selected
by  agreement  of the  parties  from a list  provided by the AAA. If the parties
cannot agree upon the selection of an arbitrator,  a neutral arbitrator shall be
appointed by the AAA from a list of  arbitrators  acceptable to  OmniCorder  and
Anbar. No action of law or suit in equity based upon any claim arising out of or
related to this Settlement Agreement shall be instituted in any court except (i)
an action to compel  arbitration  pursuant to this paragraph;  (ii) an action to
enforce the arbitration  award rendered in accordance  with this  paragraph;  or
(iii) an action  brought  in aid of  arbitration  pursuant  to Article 75 of New
York's Civil  Practice Law and Rules.  Any decision  rendered by the  arbitrator
shall be final,  conclusive and binding upon the parties to the  arbitration and
may be enforced by the judgment  and order of the Supreme  Court of the State of
New York, and the parties hereto hereby waive any objection to such jurisdiction
or venue in any such proceeding  commenced in such court. Except as hereinbefore
provided, OmniCorder and Anbar will each pay one-half of the arbitrator's fees.

      8.  OmniCorder's  Right  to  Sub-License.  Section  "NINE:  SUB-LICENSING"
("Section  NINE") of the  License  Agreement  is hereby  amended  to read in its
entirety as follows:

      "SPONSOR has the right to  sub-license  the LICENSE to any and all parties
      freely and  without  restriction,  except  that if  SPONSOR  shall seek to
      sub-license  the LICENSE to any  present or former  officer or director of
      SPONSOR,  or any affiliate thereof,  then the terms and conditions of such
      sub-license  shall be on terms no less  favorable to SPONSOR than could be
      obtained by unaffiliated  third parties.  In addition,  any sub-license to
      such  related  party  shall not be  effected  unless it is  approved  by a
      majority of SPONSOR's  disinterested  directors.  SPONSOR acknowledges and
      agrees that  SPONSOR's  obligation to pay the Royalty Fee due to SCIENTIST
      under  SECTION ONE above shall  accrue to  SCIENTIST in respect of any DAT
      Breast Cancer  Screening  System  ("System")  installed at client sites by
      reason  of any  sub-licenses  and that all  sub-license  agreements  shall
      include a  provision  obligating  the  sub-licensee  to report any and all
      Systems installed at client sites of the SPONSOR or the sub-licensee which
      report shall be made to SCIENTIST by SPONSOR with payment of the requisite
      Royalty Fee, annually on February 1st of each year.  SPONSOR shall send to
      Anbar a copy of each sub-license agreement upon its execution."

                                       5
<PAGE>

      9. Right to Use Patent. OmniCorder hereby grants to Anbar a non-exclusive,
non-transferable,  world-wide, perpetual, royalty-free license to use the patent
previously  transferred by Anbar to OmniCorder pursuant to the License Agreement
for his research  purposes only and not for  commercialization.  In this regard,
Anbar agrees that in advance of applying for any research  grant or  third-party
funding for work under the patent, he will first provide OmniCorder with written
notice of such intent and if  OmniCorder  advises him in writing  within 14 days
thereof  that it intends to seek the same source of funding,  Anbar will refrain
from  seeking such  funding.  Anbar  further  agrees that he will not publish or
disclose in any manner the results of any such research  under the patent to any
third party other than  pursuant to the  following  procedure.  Anbar will first
disclose the results,  together with all other related information  necessary to
make an  informed  decision,  to a  three-person  subcommittee  of  OmniCorder's
Scientific Advisory Board (the  "Sub-Committee"),  initially  consisting of Ruth
Rosenblatt,  Lawrence Schwartz and George Demetri. Anbar covenants and agrees to
use his best efforts to accelerate  the  Sub-Committee's  review  process and to
accede to any reasonable  request of the Sub-Committee in connection  therewith.
If a majority of such  Sub-Committee  members agree with the scientific merit of
Anbar's  results  or are  unable to reach a  decision  as to whether or not they
agree with the scientific  merit of his results within 30 days after receiving a
copy  of  such  results,   together  with  the  necessary  related   information
contemplated  above,  Anbar may proceed,  if he so desires,  to disclose  and/or
publish his  results in a  scientific  journal or at a  scientific  forum.  If a
majority of such Sub-Committee members do not agree with the scientific merit of
his  results,  Anbar shall not publish or  otherwise  disclose in any manner the
results of such research. In the event that any of the Sub-Committee members are
unable  or  otherwise  decline  to  serve  in that  capacity  in the  future,  a
replacement  Sub-Committee  member, who shall not be a consultant to or employee
of  OmniCorder,  shall be chosen by the  remaining  Sub-Committee  members  from
OmniCorder's  Scientific  Advisory Board,  subject to  OmniCorder's  and Anbar's
consent,  which will not be unreasonably  withheld or delayed. If Anbar violates
the non-disclosure provisions of this Section 9, OmniCorder shall have the right
to terminate the license  herein granted to Anbar.  Anbar hereby  represents and
warrants to OmniCorder that there are four (4) scientific  articles currently in
the process of being published by him regarding the patent referred to above and
that none of such  articles  mention  OmniCorder,  its  officers,  directors  or
employees,  the  License or its  products.  As a courtesy to  OmniCorder,  Anbar
agrees to provide  OmniCorder  with copies of these articles as soon as they are
published.  Based solely on such representation and covenant,  OmniCorder agrees
that the  publication  of such  articles  shall not  constitute  a violation  of
Anbar's obligations under this Section 9.

                                       6
<PAGE>

      10. No Disparaging  Statements.  Anbar,  on the one hand, and  OmniCorder,
including its officers, directors, employees and agents, on the other, agree not
to libel,  slander or defame each other,  or anyone  associated  with them. With
respect to the association with Anbar,  OmniCorder  agrees not to refer to Anbar
as anything but a founding scientist and/or shareholder.

      11. Withdrawal of all Actions.  Simultaneously  with the execution of this
Settlement Agreement,  the parties hereto shall execute a stipulation with a "so
ordered"  endorsement (the "Stipulation") to be signed and entered by the Court,
forthwith.  A  copy  of  this  Settlement  Agreement  shall  be  annexed  to the
Stipulation.  The Stipulation  and this Settlement  Agreement shall be construed
and  interpreted  as one  document  for all  purposes.  The Court's "so ordered"
endorsement of the  Stipulation  shall be deemed its approval of this Settlement
Agreement.  The  Stipulation  also  shall  contain  provisions  dismissing  with
prejudice  and without  costs the parties'  causes of action and  counterclaims,
including those  counterclaims which have been dismissed,  in the Action.  Anbar
shall  withdraw  all  Notices of Appeal  which he has filed in the  Action.  The
parties  hereto  represent  and warrant that they shall not initiate or file any
litigation,  complaint,  cause of action,  claim,  counterclaim  or  cross-claim
against  each other which has as its basis the facts and/or the causes of action
or counterclaims alleged in the Action.

      12. Modification. No modification,  variation, addition to or amendment of
this  Settlement  Agreement  and no waiver of any right  under  this  Settlement
Agreement shall be of any force or effect unless in writing and duly executed by
all parties to this Settlement Agreement.

      13.  Legal Fees.  The parties  hereto  agree that all legal fees and other
expenses  incurred in connection with the Action and this  Settlement  Agreement
shall be paid by the party incurring such expenses.

      14.  Headings.  The headings of the sections herein are for convenience of
reference  only  and are not to be  considered  in  construing  this  Settlement
Agreement.

      15. Severability.  If any provision of this Settlement Agreement is deemed
invalid  or  unenforceable  by a  competent  court of law,  that  invalidity  or
unenforceability  shall  not  affect  any  other  provision  of this  Settlement
Agreement and the rest of the Settlement  Agreement shall nevertheless remain in
full force and effect as though the invalid or  unenforceable  provision was not
contained in the original Settlement Agreement.

      16.  Notices.  All  notices,  requests,  demands and other  communications
hereunder shall be  hand-delivered  (with written receipt  therefore) or sent by
U.S.  certified  mail,  return receipt  requested,  or by a reputable  overnight
carrier to the following:

                                       7
<PAGE>

            (a)   Any notice to OmniCorder shall be addressed as follows:

                  Mr. Mark Fauci
                  OmniCorder Technologies, Inc.
                  25 East Loop Road
                  Stony Brook, New York  11790

            with a copy to:

                  Hank Gracin, Esq.

                  Lehman & Eilen LLP
                  50 Charles Lindbergh Boulevard, Suite 505
                  Uniondale, New York  11553

            (b)   Any notice to Anbar shall be addressed as follows:

                  Dr. Michael Anbar
                  145 Deer Run Road
                  Amherst, New York  14221

            with a copy to:

                  Lauren D. Rachlin, Esq.
                  Kavinoky & Cook, LLP
                  120 Delaware Avenue
                  Buffalo, New York  14202

                                       8
<PAGE>

      17. Entire Agreement.  This Settlement  Agreement,  along with the License
Agreement,  as modified by this  Settlement  Agreement,  constitutes  the entire
agreement between the parties and supersedes all prior agreements,  negotiations
and understandings between them pertaining to the subject matter thereof, except
that the following four  agreements  shall also remain in full force and effect:
(i) the Stockholders' Agreement among OmniCorder, Dr. Anbar and other OmniCorder
stockholders;  (ii) the  Confidentiality  Agreement  between  OmniCorder and Dr.
Anbar;  (iii) the Stock Purchase Agreement between OmniCorder and Dr. Anbar; and
(iv) the  Purchaser's  Questionnaire  completed by Dr.  Anbar.  This  Settlement
Agreement may not be modified except by a writing signed by all parties. Nothing
in this Settlement  Agreement shall, or is intended to, effect the rights of the
State  University of New York at Buffalo under  whatever  agreements it has with
OmniCorder.

      18.  Counterparts.  This  Settlement  Agreement  may  be  executed  in fax
counterparts,  each of which shall be deemed an original  for all  purposes  and
both of  which  shall  together  constitute  one and the same  instrument.  This
Settlement  Agreement  and the rights of the parties  hereto  shall be construed
according  to the  internal  laws of the  State of New York  without  regard  to
conflict  of  laws.  The  terms of this  Settlement  Agreement  shall be  deemed
severable.

      19. Binding Impact. This Settlement  Agreement shall bind and inure to the
benefit of the parties, their respective affiliates, subsidiaries, predecessors,
successors,  assigns, agents, officers, directors,  shareholders,  employees and
legal  representatives,  and  for any  other  partnerships,  corporations,  sole
proprietorships or other entities owned or controlled by any of them.

OMNICORDER TECHNOLOGIES, INC.

By: /s/ Mark Fauci                          /s/ Michael Anbar
    ------------------------                --------------------------
    Mark Fauci                              Dr. Michael Anbar
    President

                                        9

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