Document:

<PAGE>   1

                                                                    EXHIBIT 10.2

March 22, 2000

Mr. Michael J. Lotz
7400 Gainey Club Drive #140
Scottsdale, AZ 85258

                  Re: Amendment to Employment Agreement

                  Dear Michael:

                  This letter constitutes an amendment to the Employment
Agreement dated as of January 1, 1999 between Mesa Air Group, Inc. (the
"Company") and you (the "Employment Agreement").

                  Section 7.4(i) of the Employment Agreement is hereby amended
by deleting the first sentence thereof and replacing it with the following:

                       "The Executive shall be entitled to terminate his
      employment hereunder for Good Reason immediately upon, or at any time
      within one-year after, the occurrence of an event constituting Good
      Reason."

                  Section 7.4(i) of the Employment Agreement is also hereby
amended by deleting clause (4) thereof and replacing it with the following:

                       "(4) a Change in Control (as hereinafter defined),
      provided in no event shall the Executive be deemed to have given his
      consent to any Change of Control;".

                  Section 7.4(ii)(6) of the Employment Agreement is hereby
deleted and replaced with the following:

                       "(6) The shareholders of the Company approve a merger or
      consolidation involving the Company (A) in which the Company is not the
      surviving corporation or (B) if, immediately following such merger or
      consolidation, less than seventy-five percent (75%) of the surviving
      corporation's outstanding voting stock is held or is anticipated to be
      held by persons who are stockholders of the Company immediately prior to
      such merger or consolidation."

                  Section 7.5 of the Employment Agreement is hereby amended and
supplemented by adding the following to end thereof:

                       "In addition, and notwithstanding the terms of any stock
      option, stock incentive or similar plan maintained by the Company or any
      other agreement between the Company and Executive (including, without
      limitation, any stock option agreement), upon termination of the
      Executive's employment Without Good Cause or upon the exercise by the
      Executive of his rights to terminate his employment for Good Reason
      (including without limitation upon or following a Change in Control), the
      Company shall make a lump sum cash payment to Executive as follows:

                       (i) If the Executive's employment is terminated by the
      Company Without Good Cause or by Executive for Good Reason, in each case,
      upon or following a Change in Control transaction in which the holders of
      Company's common stock receive consideration for their shares

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      (either in the form of cash or securities, property or a combination
      thereof), the cash payment to Executive shall be made on the closing
      date of the transaction constituting the Change in Control and shall
      equal the greater of (A) the aggregate Black Scholes value as of such
      closing date of all options held by the Executive to acquire shares of
      the common stock of the Company ("Company Options") and (B) the product
      of (i) the per share consideration (the value of which shall be
      determined by agreement between the Company and Executive) to be paid
      to a holder of a share of the Company's common stock minus the exercise
      price per share of each Company Option held by Executive and (ii) the
      number of shares of common stock of the Company covered by each
      unexercised Company Option held by Executive; provided, however, that
      the total aggregate cash payment to be made to Executive pursuant to
      this Section 7.5 shall not in any event be less than $1,300,000.

                       (ii) If the Executive's employment is terminated by the
      Company Without Good Cause or by Executive for Good Reason, in each case,
      in circumstances other than those applicable to clause (i) above, the cash
      payment to Executive shall be made on the date of termination or the date
      of the event giving rise to Executive's right to terminate his employment
      (whichever is earlier) and shall equal the aggregate Black Scholes value
      as of such earlier date of all Company Options held by the Executive."

                  The following new Section 7.7 is added to the Employment
Agreement following Section 7.6:

                       "7.7 Consulting Agreement. If the Executive's employment
      is terminated by the Company Without Good Cause or by Executive for Good
      Reason, on the effective date of the termination, the Company and
      Executive shall enter into a consulting agreement in the form of Exhibit A
      hereto.

                  Section 11.1 of the Employment Agreement is hereby amended and
supplemented by adding, immediately following clause (4) thereof, the following
new clause (5):

                       ", or (5) any benefit or payment under Section 7.5."

                  This letter does not constitute a consent or waiver to or
modification of any other provision, term or condition of the Employment
Agreement, all of which remain in full force and effect.

                  If the foregoing meets with your approval, please indicate
your acceptance of the terms set forth in this letter by signing in the space
provided below and on the enclosed copy and by returning the copy to us for our
records.

                  Very truly yours,

                  MESA AIR GROUP, INC.

                  By:
                     ------

                  /s/ Andre H. Merrett
                  --------------------
Title: Vice President, General Counsel & Secretary

                  Accepted and agreed:

                  /s/  Michael J. Lotz
                  --------------------

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                                                                       EXHIBIT A

                              CONSULTING AGREEMENT

                  CONSULTING AGREEMENT (this "Agreement") made and entered ____
___, _____ (the "Effective Date"), between Mesa Air Group, Inc., a Nevada
Corporation (the "Company"), with its principal place of business at 410 North
44th Street, Phoenix, Arizona 85008, and Michael J. Lotz ("Consultant"),
residing at ________________.

                  WHEREAS, Consultant's employment with the Company terminated
as of ______ __, _____.

                  NOW, THEREFORE, in consideration of the premises and the
mutual covenants and conditions hereinafter set forth, the parties agree as
follows:

RETENTION AS CONSULTANT.

                  The Company hereby retains Consultant as a consultant to the
Company.

         Section 1.23 Services. Consultant shall render general management
consulting services ("Services") to the Company as may reasonably be requested
of him from time to time by the Company's Board of Directors. Consultant shall
have no minimum hourly service requirement nor will Consultant be required to
devote substantially all his time and attention to matters concerning the
Company. Except as may be specifically agreed to by the Company, Consultant
shall pay his own expenses relating to his performance of this Agreement.

         Section 1.24 Performance. Upon reasonable notice, Consultant shall
perform such Services in Phoenix, Arizona or such other location as the parties
may mutually agree.

         Section 1.25 Term. The term of this Agreement shall expire as of
the close of business on the tenth anniversary of the date hereof, unless sooner
terminated as hereinafter set forth.

         Section 1.26 Payment. Consultant shall be entitled to be
compensated at the rate of $[25,000] per annum, payable in semi-annual
installments. The compensation set forth above shall be the sole compensation
payable to Consultant for his performance hereunder.

         Section 1.27 Other Benefits. During the term of this Agreement,
the Company shall provide Consultant with life and health insurance benefits and
perquisites substantially similar to those which Consultant was receiving
immediately prior to the date hereof. Life and health insurance coverage
provided by the Company will terminate automatically upon Consultant's
employment with any other entity which provides life and health insurance
coverage. The Company and its affiliated airlines will grant Consultant and his
spouse lifetime passes for positive space travel. Consultant will not be
entitled to receive any vacation or illness payments, or to participate in any
plans, arrangements, or distributions by the Company pertaining to any bonus,
profit sharing, or similar benefits for the Company's employees.

RELATIONSHIP OF PARTIES

Section 1.28 Independent Contractor. Consultant is an independent contractor and
is not an agent or employee of, and has no authority to bind, the Company by
contract or otherwise.

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Consultant will perform the Services under the general direction of the Board of
Directors of the Company, but Consultant will determine, in Consultant's sole
discretion, the manner and means by which the Services are accomplished, subject
to the requirement that Consultant shall at all times comply with applicable
law. The Company has no right or authority to control the manner or means by
which the Services are accomplished. Any employee, independent contractor or
agent used by Consultant in the course of performing the Services hereunder is
the sole responsibility of Consultant.

         Section 1.29 Employment Taxes. Consultant will report as
self-employment income all compensation received by Consultant pursuant to this
Agreement. Consultant will indemnify the Company and hold it harmless from and
against all claims, damages, losses and expenses, including reasonable fees and
expenses of attorneys and other professionals, relating to any obligation
imposed by law on the Company to pay any withholding taxes, social security,
unemployment or disability insurance, or similar items in connection with
compensation received by Consultant pursuant to this Agreement.

CONFIDENTIAL INFORMATION

                  Consultant acknowledges that Consultant may have heretofore
acquired or may hereafter acquire information and materials from the Company and
knowledge about the business, products, customers, consultants, advisors and
suppliers of the Company and that all such knowledge, information and materials
acquired, the existence, terms and conditions of this Agreement, and the content
are and will be the trade secrets and confidential and proprietary information
of the Company (collectively, "Confidential Information"). Confidential
Information will not include, however, any information that is or becomes part
of the public domain through no fault of Consultant or that the Company
specifically designates as non-confidential. Consultant agrees to hold all such
Confidential Information in strict confidence, not to disclose it to others or
use it in any way, commercially or otherwise, except in performing the Services,
and not to allow any unauthorized person access to it, either before or after
expiration or termination of this Agreement. Consultant further agrees to take
all action reasonably necessary and satisfactory to protect the confidentiality
of the Confidential Information, including, without limitation, physically
securing any Confidential information that comes into Consultant's possession
from time to time.

INDEMNIFICATION BY CONSULTANT

                  Consultant will indemnify the Company and hold it harmless
from and against all claims, damages, losses and expenses, including court costs
and reasonable fees and expenses of attorneys, expert witnesses, and other
professionals, arising out of or resulting from, and, at the Company's option,
Consultant will defend the Company against any action by a third party that is
based on any negligent act or omission or intentional misconduct of Consultant
which results in: (a) any bodily injury or death; (b) any injury or destruction
to tangible or intangible property or any loss of use resulting therefrom; or
(c) any violation of any statute, ordinance or regulation.

TERMINATION AND EXPIRATION

         Section 1.30 Breach. Either party may terminate this Agreement in
the event of a material breach by the other party of this Agreement if such
breach continues uncured for a period of ten (10) days after written notice.

         Section 1.31 At Will. The Company may terminate this Agreement at
any time, for any reason or no reason, by written notice to Consultant. In the
event the Company terminates this Agreement for any reason other than for breach
of Section 3 or Subsection 5.1 herein, Consultant shall be entitled to receive
payment hereunder until the earlier of the expiration of the term of this
Agreement or Consultants death.

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         Section 1.32 Expiration. Unless terminated earlier, this Agreement
will expire at the end of the period of consultancy.

         Section 1.33 No Election of Remedies. The election by the Company
to terminate this Agreement in accordance with its terms shall not be deemed an
election of remedies, and all other remedies provided by this Agreement or
available at law or in equity shall survive any termination.

EFFECT OF EXPIRATION OR TERMINATION

         Section 1.34 Survival of Obligations. Upon the expiration or
termination of this Agreement for any reason, each party will be released from
all obligations to the other arising after the date of expiration or
termination, except that expiration or termination of this Agreement will not
relieve Consultant of its obligations under Section 3 above nor will expiration
or termination relieve Consultant or the Company from any liability arising from
any breach of this Agreement.

         Section 1.35 Return of Confidential Information. Upon the
expiration or termination of this Agreement for any reason, Consultant will
promptly notify the Company of all Confidential Information, including, but not
limited to, the content in Consultant's possession and, in accordance with the
Company's instructions, will promptly deliver to the Company all such
Confidential Information.

COVENANTS

         Section 1.36 Solicitation of Employment. Consultant agrees that it
will not solicit the services of any of the employees, consultants, advisors,
suppliers or customers of the Company for the Period of Consultancy and for six
(6) months thereafter without the prior written consent of the Company.

         Section 1.37 Time of Performance. Consultant represents and
warrants that Consultant has performed all Services during Consultant's free
time and in no event has Consultant performed the Services during the course of
Consultant's work as an employee, consultant, independent contractor or
otherwise with any independent third party.

GENERAL

         Section 1.38 Assignment. Consultant may not assign Consultant's
rights or delegate Consultant's duties under this Agreement, either in whole or
in part, without the prior written consent of the Company. Any attempted
assignment or delegation without such consent will be void.

         Section 1.39 Equitable Remedies. Because the Services are personal
and unique and because Consultant will have access to Confidential Information
of the Company, the Company will have the right to enforce this Agreement and
any of its provisions by injunction, specific performance, or other equitable
relief without the need to post a bond or other security, without prejudice to
any other rights and remedies that the Company may have for a breach of this
Agreement.

         Section 1.40 Attorneys' Fees. If any action is necessary to
enforce the terms of this Agreement, the substantially prevailing party will be
entitled to reasonable attorneys' fees, costs and expenses in addition to any
other relief to which such prevailing party may be entitled.

         Section 1.41 Governing Law; Severability. This Agreement will be
governed by and construed in accordance with the laws of the State of Arizona,
excluding that body of law pertaining to conflict of laws. If any provision of
this Agreement is for any reason found to be inoperative, invalid or
unenforceable, the remainder of this Agreement will continue in full force and
effect without regard to such

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inoperative, invalid or unenforceable provision and, to this end all
provisions of this Agreement are declared to be severable.

         Section 1.42 Notices. Any notices under this Agreement will be
sent by certified or registered mail, return receipt requested, by personal
delivery to the address specified above or such other address as the party
specifies in writing. Such notice will be effective upon its delivery or
transmittal as specified.

         Section 1.43 Counterparts. This Agreement may be executed in two
or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same document.

         Section 1.44 Complete Understanding; Modification. This Agreement,
together with the Amendment to Agreement and the Exhibits thereto, constitutes
the complete and exclusive understanding and agreement of the parties and
supersedes all prior understandings and agreements, whether written or oral,
with respect to the subject matter hereof. Any waiver, modification or amendment
of any provision of this Agreement will be effective only if in writing and
signed by the parties hereto.

                  IN WITNESS WHEREOF, the parties have signed this Agreement as
of the Effective Date.

MESA AIR GROUP, INC.

By:  __________________________________________________
     Name:_____________________________________________
     Title:____________________________________________

 CONSULTANT

By: ___________________________________________________
    Name: Michael J. Lotz

                                       28EMPLOYMENT AGREEMENT

      THIS AGREEMENT is made this 6th day of November, 2000 by and between
INSCI-STATEMENTS.COM, CORP., a Delaware corporation having its principal offices
located at Two Westborough Business Park, Westborough, Massachusetts 01581 (the
"Company"), and LORI FRANK, an individual residing at 4931 Beach
Street, Prior Lake, Minnesota 55372 (the "Employee").

      WHEREAS, the Company wishes to employ Employee, and Employee wishes to
accept such employment subject to the terms and conditions hereinafter set
forth.

      NOW THEREFORE, in consideration of the mutual representations, covenants
and agreements herein set forth, the parties hereto agree as follows:

                                    ARTICLE I

                   ENGAGEMENT AND DUTIES: DEVOTION OF TIME

      1.1 Engagement and Duties. The Company hereby employs Employee for the
Term (as defined in Section 3.1) commencing on the date hereof (the "Effective
Date"). During the Term, Employee's duties shall include serving as the
Company's President and Chief Executive Officer, and as a member of the
Company's Board of Directors. In such capacities, Employee shall devote all of
her business time, ability and attention to performing the duties and
responsibilities associated with such position on behalf of the Company;
provided, however, the Company acknowledges that during the six (6) month period
commencing on the date hereof, the Employee shall be entitled to devote certain
of her time and energies towards her transition from those certain business
arrangements to which she is currently committed. Nothing contained herein shall
be construed to prohibit the Employee from continuing during the Term to serve
as a member of the boards of directors on which she presently sits; provided
that Employee agrees that without the prior written consent of the Company,
which shall not be unreasonably withheld, she will not agree during the Term to
serve as a member of the board of directors or as a manager of any additional
companies and under no event during the Term will she serve on the board of
directors or as a manager of any company which is a competitor of the Company.

      1.2 Acceptance. Employee hereby accepts such employment and agrees to
render the services described above. During the Term, Employee agrees to serve
the Company faithfully and to the best of Employee's ability, to devote
Employee's full time, energy and skill to such employment (subject to the
aforementioned proviso), and to use Employee's best efforts, skill and ability
to promote the Company's interest.

                                   ARTICLE II

                                  COMPENSATION

      2.1 Salary. For all services to be rendered hereunder during the twelve
(12) month period immediately following the Effective Date and for each twelve
(12) month period thereafter during the Term, the Company shall pay Employee a
salary of Two Hundred Thousand and 00/100 ($200,000) Dollars per annum, payable
not less frequently than bi-weekly in accordance with the Company's payroll
practices. The compensation paid to Employee pursuant to this Section 2.1 is
hereinafter referred to as the "Salary".

      2.2 Bonus. Employee shall be entitled to receive an annual bonus of up to
$50,000 upon achieving certain milestones to be determined by the Board of
Directors of the Company.

                                   ARTICLE III

            TERM, TERMINATION AND PAYMENT ON TERMINATION

      3.1 Term. Subject to Section 3.2, the term of the Employee's Employment by
the Company (the "Term") shall commence on the Effective Date and shall continue
for a three (3) year period (the "Expiration Date"). The Term may also be
hereinafter referred to as the "Employment Period".

      3.2 Termination. Subject to the provisions of Sections 3.1 and 3.3,
Employee's employment, salary and all rights under this Agreement as an employee
of the Company shall terminate immediately upon the first to occur of the
following events (the "Termination Date"):

            (a)   The death of Employee;

            (b) The Disability of Employee. For purposes of this Agreement,
Employee shall be deemed to have suffered a disability ("Disability") if she is
unable to substantially perform the duties theretofore performed by her under
this Agreement by reason of any medically determinable physical or mental
impairment which can be expected to result in death or which has lasted, or can
be expected to last, for not less than one hundred twenty (120) consecutive
days. The determination of whether Employee is subject to Disability shall be
made by a physician satisfactory to both the Employee and the Company; provided,
that if the Employee and the Company do not agree on a physician, the Employee
and the Company shall each select a physician and these two physicians together
shall select a third physician, whose determination as to Disability shall be
binding on all parties;

            (c)   The written resignation by Employee for any reason;

            (d) The termination of Employee's employment by the Company for
Cause. "Cause" shall mean the occurrence of any of the following events:

                  (1) Employee's act or acts of dishonesty constituting a felony
or misdemeanor involving or resulting or intending to result directly or
indirectly in gains or personal enrichment at the expense of the Company or the
conviction of a crime involving moral turpitude; or

                  (2) Willful misconduct by Employee or Employee's gross
insubordination; or

                  (3)   Habitual alcoholism or substance abuse; or

                  (4) Employee's material failure to perform the duties assigned
to her pursuant to this Agreement (other than by reason of death or Disability);
or

                  (5) Any other material breach of any of the terms or
provisions of this Agreement.

      3.3 Compensation During Disability and Following Termination of
Employment. During any period of Disability the Employee shall continue to
receive her salary and other benefits provided for herein until the she is
terminated in accordance with Section 3.2(b). In the event that Employee's
employment with the Company is terminated pursuant to Section 3.2, the Company
shall pay to Employee her Salary earned and unpaid as of the Termination Date,
as applicable. Such amount(s) shall be paid to Employee, subject to standard
required payroll deductions, in accordance with the Company's payroll practices.

      3.3 Severance Payment. In addition to the compensation payable to the
Employee pursuant to Section 3.3 immediately above, in the event that Employee's
employment with the Company is terminated for any reason other than for Cause,
the Company shall pay to the Employee severance pay in lieu of any further
compensation for periods subsequent to the date of termination as follows:

            (a) If Employee's employment with the Company is terminated at any
time during the first year of her employment with the Company, an amount equal
to three (3) months of the Employee's Salary as of the date of termination;

            (b) If Employee's employment with the Company is terminated at any
time during the second year of her employment with the Company, an amount equal
to six (6) months of the Employee's Salary as of the date of termination; or

            (c) If Employee's employment with the Company is terminated at any
time during the third year of her employment with the Company, or at any time
thereafter, an amount equal to nine (9) months of the Employee's Salary as of
the date of termination.

      Any such severance payment shall be paid to Employee, subject to standard
required payroll deductions. During the period that the Employee is entitled to
receive severance payments, the Employee shall also continue to be covered under
the Company's medical, disability and other health benefit plans.

                                   ARTICLE IV

                                    BENEFITS

      4.1 Business Expenses. The Employee is authorized to incur reasonable
expenses in the performance of her duties hereunder in furtherance of the
business and affairs of the Company and its Affiliates, and the Company shall
pay or reimburse the Employee for all reasonable expenses actually incurred or
paid by the Employee during the Employment Period, in all cases upon
presentation of detailed expense statements and expense reports, receipts,
vouchers or such other supporting information as the Company customarily may
require.

      4.2 Travel Expenses. The Company shall pay or reimburse the Employee for
all reasonable travel related expenses, including, without limitation, expenses
incurred by the Employee in connection with traveling to and from the offices of
the Company, and expenses incurred by the Employee with respect to transporting
her child during the Employment Period, in all cases upon presentation of
detailed expense statements and expense reports, receipts, vouchers or such
other supporting information as the Company customarily may require.

      4.3 Relocation Expenses. On or about the sixth month anniversary of the
date hereof, the Employee covenants and agrees to relocate to the greater
Boston, Massachusetts area. The Company covenants and agrees to pay or reimburse
the Employee for up to $10,000 of all reasonable relocation expenses incurred by
the Employee in connection therewith, in all cases upon presentation of detailed
expense statements and expense reports, receipts, vouchers or such other
supporting information as the Company customarily may require.

      4.4 Fringe Benefits. The Employee shall, during the Employment Period, be
eligible to participate in such pension, profit sharing, life insurance, medical
and other employee benefit plans of the Company made available by the Company to
its key executive employees, and which may be in effect from time to time, to
the extent she is eligible under the terms of such plans, on the same basis as
other key executive employees of the Company; provided, however, that the
allocation of benefits under any plan which provides that allocation thereunder
shall be in the discretion of the Board of Directors of the Company shall be
determined from time to time by such Board of Directors.

      4.5 Vacation. During the Term, Employee shall be entitled to a total of
four (4) weeks paid vacation per year (exclusive of the Company's paid holidays
and sick leave taken pursuant to the Company's policy), such vacation period or
periods to be taken at such time as Employee shall in her discretion determine
upon consultation with and approval of the Company. Any unused vacation days may
not be carried over from one year to the next.

      4.6 Automobile Allowance. During the Term, Employee shall be entitled to
an automobile allowance of $750 per month for the lease of an automobile and
other automobile expenses.

      4.7   Option to Purchase Shares of the Company's Common Stock.
            (a)   Prior to November 30, 2000,  the Board of Directors shall
grant to the Employee incentive stock options (the "Options") to acquire up to
Eight Hundred and Twenty Five Thousand (825,000) shares of the common stock of
the Company (the "Option Shares") according to the following vesting schedule:

            Cumulative Percent of
            Option Exercisable            Vesting Date
            ------------------            ------------

                  25%                     From the date hereof (the "Grant
                                          Date") to and including the first
                                          anniversary of the Grant Date

                  50%                     From the first anniversary of the
                                          Grant Date to and including the
                                          second anniversary of the Grant Date

                  75%                     From the second anniversary of the
                                          Grant Date to and including the
                                          third anniversary of the Grant Date

                  100%                    On the third anniversary of the
                                          Grant Date

      Notwithstanding the foregoing, the within vesting of the Option Shares
shall accelerate, and all Option Shares shall immediately vest and be
exercisable upon the happening of a Change in Control Event. For purposes of
this Agreement, a Change in Control Event shall mean the occurrence during the
Term of any of the following events:

                        (i) An acquisition (other than directly from the
                  Company) of any voting securities of the Company (the "Voting
                  Securities") by any "Person" (as the term person is used for
                  purposes of Section 13(d) or 14(d) of the Securities Exchange
                  Act of 1934 (the "1934 Act")) immediately after which such
                  Person has "Beneficial Ownership" (within the meaning of Rule
                  13d-3 promulgated under the 1934 Act) of 50% or more of the
                  combined voting power of the Company's then outstanding Voting
                  Securities; provided, however, that in determining whether a
                  Change in Control has occurred, Voting Securities which are
                  acquired in a "Non-Control Acquisition" (as hereinafter
                  defined) shall not constitute an acquisition which would cause
                  a Change in Control. A "Non-Control Acquisition" shall mean an
                  acquisition by (1) an employee benefit plan (or a trust
                  forming a part thereof) maintained by (x) the Company or (y)
                  any corporation or other Person of which a majority of its
                  voting power or its equity securities or equity interest is
                  owned directly or indirectly by the Company (a "Subsidiary"),
                  (2) the Company or any Subsidiary, or (3) any Person in
                  connection with a "Non-Control Transaction" (as hereinafter
                  defined);

                        (ii) The individuals who, as of the date of this
                  Agreement are members of the Board (the "Incumbent Board")
                  cease for any reason to constitute at least one-half of the
                  Board; provided, however, that if the election, or nomination
                  for election by the Company's stockholders, of any new
                  director was approved by a vote of at least one-half of the
                  Incumbent Board, such new director shall, for purposes of this
                  Agreement, be considered as a member of the Incumbent Board;
                  provided, further, however, that no individual shall be
                  considered a member of the Incumbent Board if such individual
                  initially assumed office as a result of either an actual or
                  threatened "Election Contest" (as described in Rule 14a-11
                  promulgated under the 1934 Act) or other actual or threatened
                  solicitation of proxies or consents by or on behalf of a
                  Person other than the Board (a "Proxy Contest") including by
                  reason of any agreement intended to avoid or settle any
                  Election Contest or Proxy Contest; or

                        (iii) Approval by stockholders of the Company of:

                              (A)   A merger, consolidation or reorganization
                                    involving the Company, unless:

                                          (1)   the stockholders of the Company,
                                                immediately before such merger,
                                                consolidation or reorganization,
                                                own, directly or indirectly,
                                                immediately following such
                                                merger, consolidation or
                                                reorganization, at least
                                                two-thirds of the combined
                                                voting power of the outstanding
                                                voting securities of the
                                                corporation resulting from such
                                                merger or consolidation or
                                                reorganization (the "Surviving
                                                Corporation") in substantially
                                                the same proportion as their
                                                ownership of the Voting
                                                Securities immediately before
                                                such merger, consolidation or
                                                reorganization, and

                                          (2)   the individuals who were members
                                                of the Incumbent Board
                                                immediately prior to the
                                                execution of the agreement
                                                providing for such merger,
                                                consolidation or reorganization
                                                constitute at least one-half of
                                                the members of the board of
                                                directors of the Surviving
                                                Corporation.

                                    (A transaction described in clauses (1) and
                                    (2) shall herein be referred to as a
                                    "Non-Control Transaction").

                              (B)   A complete liquidation or dissolution fo the
                                    Company; or

                              (C)   An agreement for the sale or other
                                    disposition of all or substantially all of
                                    the assets of the Company to any Person
                                    (other than a transfer to a Subsidiary).

                        (iv) Notwithstanding anything contained in this
                  Agreement to the contrary, if the Employee's employment is
                  terminated prior to a Change in Control and the Employee
                  reasonably demonstrates that such termination (A) was at the
                  request of a third party who has indicated an intention or
                  taken steps reasonably calculated to effect a Change in
                  Control and who effectuates a Change in Control (a "Third
                  Party") or (B) otherwise occurred in connection with, or in
                  anticipation of, a Change in Control which actually occurs,
                  then for all purposes of this Agreement, the date of a Change
                  in Control with respect to the Employee shall mean the date
                  immediately prior to the date of such termination of the
                  Employee's employment.

                        (v) Notwithstanding the foregoing, a Change in Control
                  shall not be deemed to have occurred pursuant to any of the
                  investments or transactions contemplated by that certain
                  proposal letter dated October 31, 2000 sent on behalf of
                  Selway Partners, LLC and CIP Capital, L.P. to the Company, as
                  amended.

            (b) The exercise price for the Options shall be based on the fair
market value of the shares of common stock of the Company at the time of grant.

            (c) To the extent that the Company's existing incentive stock option
plan does not contain provisions providing for the granting of the Options as
contemplated by this Section 4.7, as promptly as practicable, the Company shall
amend its existing incentive stock option plan or adopt a new incentive stock
option plan to permit the granting of the Options, and shall seek shareholder
approval of such amendment or plan.

                                    ARTICLE V

                  ACTIVITIES DURING AND FOLLOWING EMPLOYMENT

      5.1 Restrictive Covenants. Employee acknowledges and agrees that (i) as an
Employee of the Company she has and shall possess and learn valuable trade
secrets and other proprietary information relating to the Company's business,
(ii) Employee's services to the Company are unique in nature, (iii) the
Company's business is national in scope and (iv) the Company would be
irreparably damaged if the Employee were to provide services to any person or
entity in violation of the restrictions contained in this Agreement.
Accordingly, as an inducement for the Company to enter into this Agreement, the
Employee agrees that during the period that she is employed by the Company and
for a period of one (1) year thereafter (such period being referred to herein as
the "Restricted Period"), Employee shall not, directly or indirectly, either for
herself or for any other person or entity:

            (a) anywhere in the United States of America engage or participate
in, or assist, advise or be connected with (including as an employee, owner,
partner, shareholder, member, officer, director, advisor, consultant, agent or
(without limitation by the specific enumeration of the foregoing) otherwise), or
permit her name to be used by or render services for, any person or entity
engaged in a Competing Business (as herein defined); provided, however, that
nothing in this Agreement shall prevent Employee from acquiring or owning, as a
passive investment, up to five percent (5%) of the outstanding voting securities
of an entity engaged in a Competing Business (as hereinafter defined) which are
publicly traded in any recognized securities markets;

            (b) take any action in connection with a Competing Business which
might divert from the Company or any of its Affiliates any opportunity which
would be (at the time of such action) within the scope of the Company's or any
such Affiliate's business;

            (c) solicit or attempt to induce any person or entity who is or has
been a customer of the Company at any time during (i) the Employment Period or
(ii) the Restricted Period, to purchase Competing Products (as herein defined)
from any person or entity (other than the Company);

            (d) solicit or attempt to induce any person or entity who is or has
been a customer, supplier, licensor, licensee or other business relation of the
Company at any time during (i) the Employment Period or (ii) during the
Restricted Period, to cease doing business with the Company;

            (e) take any actions which are calculated to persuade any person or
entity who is a director, officer or agent of the Company or any of its
Affiliates to terminate their association with the Company or such Affiliates;
or

            (f) solicit or hire any person or entity who is or was a director,
officer, employee or agent of the Company or any of its Affiliates to perform
services for any entity other than the Company and its Affiliates.

      As used herein, a "Competing Business" shall mean a business which
engages, in whole or in part, in the business of developing and marketing and
supporting computer software and products that are competitive with, are similar
to, may be used as substitutes for, or may detract from any products designed,
distributed, marketed or sold by the Company or that are under development by
the Company at the termination of the Employment Period. As used herein, the
products and services, subject to the foregoing provisions of this Section 5.1,
are collectively referred to herein as "Competing Products".

      5.2 Non-Disclosure of Confidential Information. Employee recognizes that
she possesses and will possess Confidential Information (as herein defined).
Accordingly, as an additional inducement for the Company to enter into this
Agreement, Employee covenants and agrees that:

            (a) during her employment with the Company, except in the
performance of her duties hereunder, and at all times until the first (1st)
anniversary of the termination or expiration of her Employment with the Company,
Employee shall hold in strictest confidence and shall not, other than as
required by law, without the prior written consent of the Company, use for her
own benefit or that of any third party or disclose to any person, firm or
corporation, except the Company, any of its Affiliates, or any employees of the
Company or its Affiliates, any Confidential Information. For purposes of this
Agreement, and intending that the term shall be broadly construed to include
anything protectable by the Company as a trade secret under applicable law,
"Confidential Information" shall mean and include all information, and all
documents and other tangible items which record information, relating to the
development and marketing by the Company of products and/or services from time
to time, which at the time or times concerned are protectable by the Company as
a trade secret under applicable law, which are not generally known to the
Company's competitors and which have been or are from time to time disclosed to
or known by Employee, including, without limitation, the following especially
sensitive types of information relating to the development and marketing of the
Company's products and services;

                  (i) any and all versions of the Company's proprietary computer
            software (including source code and object code), hardware, firmware
            and documentation;

                  (ii) technical information concerning the Company's products
            and services, including product data and specifications, diagrams,
            flow charts, drawings, test results, know-how, processes,
            inventions, research projects and product development;

                  (iii) information concerning the Company's business, including
            cost information, profits, sales information, accounting and
            unpublished financial information, business plans, markets and
            marketing methods, customer lists and customer information,
            purchasing techniques, supplier lists and supplier information and
            advertising strategies;

                  (iv) information concerning the Company's employees, including
            their salaries, strengths, weaknesses and skills;

                  (v) information submitted by the Company's customers,
            suppliers, employees, consultants or co-venturers with the Company
            for study, evaluation or use;

                  (vi) any other information not generally known to the public
            which, if misused or disclosed, could reasonably be expected to
            adversely affect the Company's business;

provided, however, that Confidential Information shall not be deemed to include
any of the foregoing which (A) is or becomes generally available to the public
other than as a result of Employee's fault or the fault of any other person
known by the Employee to be bound by a duty (contractual or otherwise) of
confidentiality to the Company or its Affiliates (or, if applicable, any
successors or assigns); or (B) is required by law or court order or subpoena to
be disclosed by the Employee, provided that the Employee gives the Company
prompt advance written notice of such requirement and cooperates with any
attempt by the Company to eliminate, limit or reduce such requirement so as to
minimize disclosure.

            (b) Employee (or if Employee is deceased, her personal
representative) shall promptly following a request therefor from the Company,
return to the Company, without retaining copies, all tangible items which are or
which contain Confidential Information and Employee shall also return all
equipment, files, software programs and other personal property belonging to the
Company; and

            (c) at the reasonable request of the Company made at any time or
from time to time hereafter, Employee (or if Employee is deceased, her personal
representative) shall make, execute and deliver all applications, papers,
assignments, conveyances, instruments or other documents and shall perform or
cause to be performed such other lawful acts as the Company may reasonably deem
necessary to implement any of the provisions of this Agreement, and shall give
testimony and cooperate with the Company, its Affiliates or its representatives
in any controversy or legal proceedings involving the Company, its Affiliates or
its representatives with respect to any Confidential Information.

      As used herein, an "Affiliate" shall mean and include any person or entity
which controls a party, which such party controls or which is under common
control with such party, and which is engaged in any business similar to that of
the Company. "Control" means the power, direct or indirect, to direct or cause
the direction of the management and policies of a person or entity through
voting securities, contract or otherwise.

      5.3 Injunctive Relief. Notwithstanding the provisions of Section 6.1,
Employee acknowledges and agrees that in the event of a breach or threatened
breach of any of the foregoing provisions of Sections 5.1 and 5.2, the Company
shall have no adequate remedy at law and shall therefore be entitled upon notice
to Employee (provided giving of such notice shall not entitle Employee to delay
any proceedings to enforce the foregoing provisions) to enforce each such
provisions of Sections 5.1 and 5.2 by temporary or permanent injunctive or
mandatory relief obtained in any court of competent jurisdiction without the
necessity of proving damages, posting any bond or other security, and without
prejudice to any other remedies which may be available at law or in equity to
the Company. Employee and the Company agree that the Superior Court in and for
the County of New York, State of New York, United States of America or the
United States District Court for the Southern District of New York are courts of
competent jurisdiction and Employee and the Company each consent to the personal
jurisdiction of those courts for purposes of such an action or proceeding
instituted to obtain equitable relief or monetary damages relating to the
provisions of Sections 5.1 and 5.2 and in connection therewith Employee and the
Company agree that process in any action may be served upon Employee and the
Company, as the case may be, and shall be deemed to be complete when the same is
delivered to Employee (by personal service or by such method as may be ordered
by a court) or the Company, as the case may be, in the same manner as notices
are required to be given pursuant to the provisions of this Agreement.

                                   ARTICLE VI

      ARBITRATION

      6.1 Except as specifically set forth in Section 5.3, the parties will
first attempt to settle each and every dispute, controversy or claim, whether
based in contract, tort, statute, fraud, misrepresentation or any other legal
theory, arising out of or relating to this Agreement ("Dispute(s)"), through
good faith negotiations. Any Dispute not thus resolved within thirty (30) days
or such other period as the parties shall mutually agree in writing, shall be
then settled by final and binding arbitration conducted at a mutually agreed
location in Boston, Massachusetts by one neutral arbitrator, in accordance with
this Section and the then current Commercial Arbitration Rules of the American
Arbitration Association ("AAA"). Each party shall bear its own expenses and the
parties shall equally share the filing and other administrative fees of the AAA
and the expenses of the arbitrator. Judgment upon an award may be entered in any
Court having competent jurisdiction. The arbitrator shall not have the power to
award any consequential or punitive damages. The arbitrator shall have the power
to order prehearing discovery of documents or the taking of depositions, and may
compel attendance of witnesses and the production of documents at the hearing.
The arbitrability of any Dispute, including those as to the enforceability of
this Section, shall be determined solely by the arbitrator. The Federal
Arbitration Act, 9 U.S.C. Sections 1 to 16, shall govern the interpretation and
enforcement of this Section 6.1. Any party may seek a temporary injunction in
any court of competent jurisdiction to the limited extent necessary to preserve
the status quo during the pendency of final resolution of a Dispute in
accordance with this Section. The statute(s) of limitation applicable to any
Dispute shall be tolled upon initiation of the Dispute resolution procedures
under this Section and shall remain tolled until the Dispute is resolved under
this Section. However, tolling shall cease if the aggrieved party does not file
a demand for arbitration of the Dispute with the AAA within sixty (60) calendar
days after good faith negotiations have been terminated by either party.

                                   ARTICLE VII

      MISCELLANEOUS

      7.1 Notices. All notices, requests, demands and other communications
(collectively, a "Notice") given or made pursuant to this Agreement shall be in
writing and shall be given by personal delivery facsimile (with written
confirmation of receipt) or by registered or certified mail, return receipt
requested, postage and fees prepaid, to the following addresses:

            (a)   If to the Company, addressed to:

                  insci-statements.com, corp.
                  Two Westborough Business Park
                  Westborough, Massachusetts 01581
                      Attn: Chairman Compensation Committee

            (b) If to Employee, to:

                  Ms. Lori Frank
                  4931 Beach Street
                  Prior Lake, Minnesota 55372

Any Notice shall be deemed duly given when received by the addressee thereof,
provided that any Notice sent by registered or certified mail shall be deemed to
have been duly given five days after the date of deposit in the United States
mail, unless sooner received. Any of the parties to this Agreement may from time
to time change its address for receiving Notices by giving written notice
thereof in the manner set forth above.

      7.2 Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Massachusetts, and the terms hereof may
be enforced in any court of competent jurisdiction in action for specific
performance which may be instituted under this Agreement.

      7.3 Severability. Whenever possible each provision of this Agreement shall
be interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Agreement shall be or become prohibited or invalid
under applicable law, such provisions shall be ineffective to the extent of such
prohibition or invalidity without invalidating the remainder of such provision
or the remaining provisions of this Agreement.

      7.4 Captions. The various captions of this Agreement are for reference
only and shall not be considered or referred to in resolving questions or
interpretation of this Agreement.

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

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

      7.7 Waiver. Waiver by either of the parties of any breach of any provision
of this Agreement shall not operate or be construed as a waiver of any prior or
subsequent breach of the same or any other provision hereof.

      7.8 Amendment. This Agreement may be amended, modified, superseded or
cancelled, in whole or in part, only by a written instrument executed by
Employee and by an authorized representative of the Company.

      IN WITNESS WHEREOF, this Agreement has been made and entered into as of
the date and year first above written.

insci-statements.com, corp.

By: s\Francis X Murphy        s\ Lori Frank
    ------------------        -------------

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