Document:

EXHIBIT 4.3

RIGHTS CERTIFICATE NO.:  ________________          NUMBER OF RIGHTS:____________

THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN THE COMPANY'S
PROSPECTUS DATED FEBRUARY __, 2005 (THE "PROSPECTUS") AND ARE INCORPORATED
HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS ARE AVAILABLE UPON REQUEST FROM
THE COMPANY.

                          OMNICORDER TECHNOLOGIES, INC.

              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

                                                             CUSIP NO.: ________

                         SUBSCRIPTION RIGHTS CERTIFICATE
              EVIDENCING SUBSCRIPTION RIGHTS TO PURCHASE SHARES OF
      SERIES A CONVERTIBLE PREFERRED STOCK OF OMNICORDER TECHNOLOGIES, INC.
                       SUBSCRIPTION PRICE: $1.00 PER SHARE

  THE SUBSCRIPTION RIGHTS WILL EXPIRE IF NOT EXERCISED ON OR BEFORE 5:00 P.M.,
                   EASTERN STANDARD TIME, ON MARCH ___, 2005,
       UNLESS EXTENDED OR THE RIGHTS OFFERING IS TERMINATED BY THE COMPANY

REGISTERED OWNER: __________________

         THIS CERTIFIES THAT the registered owner whose name is inscribed hereon
is the owner of the number of subscription rights ("Rights") set forth above.
Each whole Right entitles the holder thereof, or its assigns, to subscribe for
and purchase, at the subscription price per share of $1.00 (the "Subscription
Price"), one share of Series A Convertible Preferred Stock, par value $.01
per share ("Series A Preferred Stock") of OmniCorder Technologies, Inc., a
Delaware corporation (the "Company") (the "Basic Subscription Right"), pursuant
to a rights offering (the "Rights Offering"), on the terms and subject to the
conditions set forth in the Prospectus and the "Instructions as to Use of
OmniCorder Technologies Subscription Rights Certificates" accompanying this
Subscription Rights Certificate.

         If any shares of Series A Preferred Stock available for purchase in the
Rights Offering are not purchased by other holders of Rights pursuant to the
exercise of their Basic Subscription Right (the "Excess Shares"), any Rights
holder that exercises its Basic Subscription Rights in full and any stockholder
of the Company who purchased shares of Series A Preferred Stock and common stock
purchase warrants from the Company in December 2004 may subscribe for a number
of Excess Shares pursuant to the terms and conditions of the Rights Offering,
subject to proration, as described in the Prospectus (the "Over-Subscription
Right"). The Rights represented by this Subscription Rights Certificate may be
exercised by completing "Form 1 - Exercise of Subscription Rights" on the
reverse side hereof and any other appropriate forms on the reverse side hereof
and by returning the full payment of the Subscription Price for each Right
subscribed for in accordance with the "Instructions as to Use of OmniCorder
Technologies Subscription Rights Certificates" that accompany this Subscription
Rights Certificate. The

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Rights evidenced by this Subscription Rights Certificate may also be transferred
or sold by completing the appropriate forms on the reverse side hereof in
accordance with the "Instructions as to Use of OmniCorder Technologies
Subscription Rights Certificates" that accompany this Subscription Rights
Certificate.

         The Rights evidenced by this Subscription Rights Certificate are
transferable on the books of OmniCorder Technologies, Inc. in person or by duly
authorized attorney upon surrender of this Subscription Rights Certificate
properly endorsed.

         This Subscription Rights Certificate is not valid unless countersigned
by the transfer agent and registered by the registrar.

         IN WITNESS WHEREOF, the Company has caused this Subscription Rights
Certificate to be duly executed under its corporate seal.

Dated: ____________, 2005

                                          OMNICORDER TECHNOLOGIES, INC.

                                          By:
                                             -----------------------------------
                                             Name:
                                             Title:

                                          By:
                                             -----------------------------------
                                             Name:
                                             Title:

COUNTERSIGNED AND REGISTERED BY:

CORPORATE STOCK
TRANSFER, INC. (Denver, CO)
Transfer Agent And Registrar

By:
   -------------------------------
   Name:
   Title:

<PAGE>

              DELIVERY OPTIONS FOR SUBSCRIPTION RIGHTS CERTIFICATE

                              FOR DELIVERY BY MAIL:

                         CORPORATE STOCK TRANSFER, INC.
                    3200 CHERRY CREEK SOUTH DRIVE, SUITE 240
                                DENVER, CO 80209

                        ATTENTION: CARYLYN BELL, PRESIDENT

                     BY HAND DELIVERY OR OVERNIGHT COURIER:

                         CORPORATE STOCK TRANSFER, INC.
                    3200 CHERRY CREEK SOUTH DRIVE, SUITE 240
                                DENVER, CO 80209
                               TEL: (303) 282-4800

                   DELIVERY OTHER THAN IN THE MANNER OR TO THE
                         ADDRESSES LISTED ABOVE WILL NOT
                           CONSTITUTE VALID DELIVERY.

                PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY.

FORM 1 -- EXERCISE OF SUBSCRIPTION RIGHTS

         To subscribe for shares pursuant to your Basic Subscription Right,
please complete lines (a) and (c) and sign under Form 4 below. To subscribe for
shares pursuant to your Over-subscription Right, please also complete line (b)
and sign under Form 4 below.

(a)  I apply for ____ Shares      x    $1.00  = $_________________
             (No. of new Shares)               (subscription price)

         If you have exercised your Basic Subscription Right in full or
purchased shares of series A convertible preferred stock and warrants to
purchase common stock in OmniCorder Technologies' December 2004 private
placement and wish to subscribe for additional shares pursuant to your
Over-Subscription Right:

(b)  I apply for ____ Shares     x     $1.00    = $________________
             (No. of new Shares)                 (subscription price)

(c)  Total Amount of Payment Enclosed = $________________

METHOD OF PAYMENT (CHECK ONE):

[  ] Check or bank draft drawn on a U.S. bank, or postal, telegraphic or
     express money order payable to "Corporate Stock Transfer, Inc., as
     Subscription Agent for OmniCorder Technologies, Inc." Funds paid by an
     uncertified check may take at least five business days to clear.

[  ] Wire transfer of immediately available funds directly to the account
     maintained by Corporate Stock Transfer, Inc. as Subscription Agent for
     OmniCorder Technologies, Inc., for purposes of

<PAGE>

     accepting subscriptions in this Rights Offering,__________ at ABA
     #__________, Corporate Stock Transfer, Inc. Escrow Account No.___________.

FORM 2 -- SALE OR TRANSFER TO DESIGNATED TRANSFEREE OR THROUGH BANK OR BROKER

         To sell or transfer your subscription rights to another person,
complete this Form and have your signature guaranteed under Form 5. To sell your
subscription rights through your bank or broker, sign below under this Form 2
and have your signature guaranteed under Form 5, but leave the rest of this Form
2 blank.

         For value received, of the subscription rights represented by this
Subscription Rights Certificate are assigned to:

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                          (Print Full Name of Assignee)

--------------------------------------------------------------------------------
                              (Print Full Address)

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                         (Tax ID or Social Security No.)

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                             Signature(s) of Assignor

IMPORTANT: The signature(s) must correspond with the name(s) as printed on the
reverse of this Subscription Rights Certificate in every particular, without
alteration or enlargement, or any other change whatsoever.

FOR INSTRUCTIONS ON THE USE OF OMNICORDER TECHNOLOGIES, INC. SUBSCRIPTION RIGHTS
CERTIFICATES, CONSULT CORPORATE STOCK TRANSFER, INC. THE SUBSCRIPTION AGENT.
STOCKHOLDERS, BANKS AND BROKERAGE FIRMS MAY CALL (303) 282-4800.

FORM 3-- DELIVERY TO DIFFERENT ADDRESS

         If you wish for the Series A Preferred Stock underlying your
subscription rights to be delivered to an address different from that shown on
the face of this Subscription Rights Certificate, please enter the alternate
address below, sign under Form 4 and have your signature guaranteed under Form
5.

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<PAGE>

FORM 4-- SIGNATURE

         I acknowledge that I have received the Prospectus for this Rights
Offering and I hereby irrevocably subscribe for the number of shares indicated
above on the terms and conditions specified in the Prospectus.

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                                  Signature(s)

IMPORTANT: The signature(s) must correspond with the name(s) as printed on the
reverse of this Subscription Rights Certificate in every particular, without
alteration or enlargement, or any other change whatsoever.

FORM 5-- SIGNATURE GUARANTEE

         This form must be completed if you have completed any portion of Forms
2 or 3.

Signature Guaranteed:

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                             (Name of Bank or Firm)

By:
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                             (Signature of Officer)

IMPORTANT: The signature(s) should be guaranteed by an eligible guarantor
institution (bank, stock broker, savings & loan association or credit union)
with membership in an approved signature guarantee medallion program pursuant to
Securities and Exchange Commission Rule l7 Ad-15.

<PAGE>

                          NOTICE OF GUARANTEED DELIVERY

                       WITH RESPECT TO RIGHTS TO PURCHASE
      SERIES A CONVERTIBLE PREFERRED STOCK OF OMNICORDER TECHNOLOGIES, INC.
                            EXPIRING ON MARCH __, 2005
                        5:00 P.M., EASTERN STANDARD TIME.

        This form, or one substantially equivalent hereto, must be used by any
holder of Rights who wishes to subscribe for shares of Series A Convertible
Preferred Stock, $.01 par value per share ("Series A Preferred Stock"), of
OmniCorder Technologies, Inc. (the "Company") and (i) whose certificates
evidencing the Rights (the "Subscription Certificates") are not immediately
available or (ii) who cannot deliver his or her Subscription Certificates on or
before 5:00 p.m. Eastern Standard Time on March __, 2005 (the "Expiration
Date"). This form, together with payment in full for shares of Series A
Preferred Stock subscribed for, must be delivered to the Subscription Agent by
mail or hand delivery and must be so delivered by the Expiration Date. Unless
otherwise defined herein, all capitalized terms used herein have the same
meaning as set forth in the Company's Prospectus dated February __, 2005 (the
"Prospectus"). The name, address, telephone number and facsimile number of the
Subscription Agent are as follows:

                         Corporate Stock Transfer, Inc.
                            Telephone: (303) 282-4800
                            Facsimile: (303) 282-5800

                     If By Hand, Mail or Overnight Courier:
                         Corporate Stock Transfer, Inc.
                          3200 Cherry Creek South Drive
                                    Suite 240
                             Denver, Colorado 80209
                       Attention: Carylyn Bell, President

         The undersigned hereby represents that he or she is the holder of
Subscription Certificates representing ________ Rights and that such
Subscription Certificates cannot be delivered to the Subscription Agent on or
prior to the Expiration Date. The undersigned hereby elects to exercise _______
of the Rights represented by the Subscription Certificates to purchase ________
shares of Series A Preferred Stock. The undersigned hereby tenders $_________
($1.00 per share of Series A Preferred Stock subscribed for) in full payment for
the shares of Series A Preferred Stock subscribed for. The undersigned hereby
agrees to tender his Subscription Rights Certificates evidencing the Rights
exercised hereby within three business days following the date hereof, and that
the failure to so deliver such certificates may, in the Company's sole
discretion, render the exercise of the Rights hereunder void and of no force or
effect.

                                       -----------------------------------
                                       Signature(s)

                                       -----------------------------------
                                       Name(s) (please print)

                                       ----------------------------------
                                       Address

                                       ----------------------------------
                                       Area Code and Telephone Number

                                       Date: ________________, 2005

<PAGE>

                                    GUARANTEE
                   (NOT TO BE USED FOR A SIGNATURE GUARANTEE)

         The undersigned, a firm which is a member of a registered national
securities exchange or the National Association of Securities Dealers, Inc., or
is a commercial bank or trust company having an office in the United States,
guarantees that the above named person(s) own(s) the Rights exercised hereby
within the meaning of Rule 10b-4 under the Securities Exchange Act of 1934, as
amended, and (b) that such firm shall deliver to the Subscription Agent the
Subscription Certificates representing the Rights described above by 5:00 p.m.
Eastern Standard Time on the third business day following the Expiration Date.

                                  -------------------------------------------
                                  Name of Firm

                                  -------------------------------------------
                                  Authorized Signature

                                  -------------------------------------------
                                  Name of Authorized Signatory (please print)

                                  -------------------------------------------
                                  Address of Firm

                                  -------------------------------------------
                                  Area Code and Telephone Number of Firm

                                  Date: ________________, 2005

<PAGE>

                                  INSTRUCTIONS

         1. Delivery of this Notice of Guaranteed Delivery. A properly completed
and duly executed copy of this Notice of Guaranteed Delivery together with
payment in full, in United States Dollars, for the shares of Series A Preferred
Stock subscribed for must be received by the Subscription Agent at its address
set forth on the cover page prior to 5:00 p.m., Eastern Standard Time, on the
Expiration Date. The method of delivery of this Notice of Guaranteed Delivery to
the Subscription Agent is at the election and risk of the holder of Rights but,
except as otherwise provided below, the delivery will be deemed made only when
actually received by the Subscription Agent. If such delivery is by mail, it is
recommended that the holder of Rights used insured, registered mail with return
receipt requested. For a description of the guaranteed delivery procedure, see
"The Subscription Rights Offering--Guaranteed Delivery Procedures" in the
Prospectus, available from the Subscription Agent.

         2. Signatures on this Notice of Guaranteed Delivery. If this Notice of
Guaranteed Delivery is signed by the holder of the Subscription Certificate(s)
referred to herein, the signature must correspond with the name(s) of the
registered holder(s) of the Subscription Certificate(s) without alteration or
any change whatsoever.

         If this Notice of Guaranteed Delivery is signed by a person other than
the holder or holders of the Subscription Certificate(s) listed, this Notice of
Guaranteed Delivery must be accompanied by an appropriate power signed in the
name(s) of the registered holder(s) of the Subscription Certificate(s) without
alteration or any change whatsoever.

         If this Notice of Guaranteed Delivery is signed by a trustee, executor,
administrator, guardian, attorney-in-fact, officer of a corporation or other
person action in a fiduciary or representative capacity, such person should so
indicate when signing and, unless waived by the Subscription Agent, evidence
satisfactory to the Subscription Agent of his or her authority so to act must be
submitted with this Notice of Guaranteed Delivery.Exhibit 10.12
                                                                   -------------

                              EMPLOYMENT AGREEMENT

         This EMPLOYMENT AGREEMENT is made and entered into as of this 9th day
of February, 2004, by and between OMNICORDER TECHNOLOGIES, INC., a Delaware
corporation with its principal place of business at 12-8 Technology Drive, East
Setauket, New York 11733 (the "Company") and LORING D. ANDERSEN, an individual
residing at 39 Jay Court, Northport, New York 11768 (the "Executive").

                              W I T N E S S E T H:

         WHEREAS, the Company desires to employ the Executive as Senior Vice
President of Operations & Planning and wishes to acquire and be assured of
Executive's continued services on the terms and conditions hereinafter set
forth;

         WHEREAS, the Executive desires to be employed by the Company as Senior
Vice President of Operations & Planning and to perform and to serve the Company
on the terms and conditions hereinafter set forth.

         NOW THEREFORE, in consideration of the mutual terms, covenants,
agreements and conditions hereinafter set forth, the Company and the Executive
hereby agree as follows:

     1. Employment. The Company hereby employs the Executive to serve as a
full-time executive of the Company, and the Executive hereby accepts such
employment with the Company, for the term set forth in Section 2 hereof. The
Executive's principal place of employment shall be at the Company's offices in
East Setauket, New York, or at such other location as shall be mutually
acceptable to the Executive and the Company (it being understood that an office
in Nassau County or Suffolk County shall be acceptable to the Executive). The
Executive hereby accepts such employment and agrees to undertake the duties and
responsibilities inherent in such position.

     2. Term. Unless earlier terminated as provided in this Agreement, the term
of the Executive's employment under this Agreement shall be for a period
beginning on February 9, 2004 (the "Engagement Date"), and ending one year
thereafter (such period or, if the Executive's employment hereunder is earlier
terminated, such shorter period, being hereinafter called the "Employment
Term"). The Employment Term may be extended for additional periods by mutual
agreement of the parties in writing.

     3. Duties; Authority; Director.

<PAGE>

         (a) Duties. During the Employment Term, the Executive shall be employed
as Senior Vice President of Operations & Planning, of the Company, shall
faithfully and competently perform such duties at such times and places and in
such manner as the President and CEO may from time to time reasonably direct.
Except as otherwise may be approved in advance by the President and CEO, and
except during vacation periods and reasonable periods of absence due to
sickness, personal injury, family leave as permitted by law, or other
disability, the Executive shall devote Executive's full time and attention
throughout the Employment Term to the services required of Executive hereunder.
The Executive shall render Executive's services exclusively to the Company
during the Employment Term and shall use Executive's best efforts, judgment and
energy to improve and advance the business and interests of the Company in a
manner consistent with the duties of Executive's position.

         (b) Authority. The Executive shall have all the usual and necessary
authority, duties and responsibilities of a Senior Vice President, in the
operation of the Company's business, subject to the supervision and authority of
the President & CEO.

     4. Salary and Other Compensation.

         (a) Salary. In consideration for the services of the Executive rendered
to the Company hereunder, the Company shall pay the Executive a salary at an
annual rate of $140,000 during the Employment Term (the "Base Salary"), payable
in accordance with the Company's customary payroll practices, which in no event
shall be less frequently than on a monthly basis, subject to an annual upward
adjustment as the President & CEO, the Board or the compensation committee
thereof may deem appropriate, but which in no event shall be less than a five
percent (5%) cumulative annual increase at each anniversary date of the
Engagement Date. The Executive shall also be eligible for annual bonuses, as the
Board or the compensation committee thereof may deem appropriate. Upon
termination of this Agreement, except if the Company terminates this Agreement
without Cause (as defined in Section 6), and except if the Executive terminates
his employment for Good Reason (as defined in Section 7), payments made pursuant
to this Section 4(a) shall cease; provided, however, that the Executive shall in
all cases be entitled to payments for periods or partial periods that occurred
prior to the date of termination and for which the Executive has not yet been
paid. Any vacation time not used by Executive during any year of the Employment
Term shall be carried over to succeeding years; provided, however, Executive
will not take in excess of four continuous weeks of vacation utilizing such
carried over vacation time. Payment shall be made to Executive for any unused
vacation time upon the end of the Employment Term.

         (b) Withholding, Etc. The payment of any amounts hereunder shall be
subject to income tax, social security and other applicable withholdings.

         (c) Stock Options. As additional consideration under this Agreement,
the Company has granted to the Executive as of the Engagement Date incentive
stock options ("Stock Options") to purchase up to 120,000 shares of common stock
at an exercise price equal to $4.40 per share, representing the fair market
value of OmniCorder's common stock on the date of this agreement. The Stock
Options shall be exercisable in a four year vesting period at 25% per year, and
shall be exercisable over a five-year period from the date of grant. The Company
undertakes to use its best efforts to register the shares of OmniCorder's common
stock

                                       2

<PAGE>

into which the Stock Options are exercisable by the filing of a registration
statement on Form S-8, or such other method as is most appropriate in the
circumstances, to enable the Executive to sell such shares, subject to
applicable securities laws.

     5. Benefits. During the Employment Term, the Executive shall be entitled
to:

         (a) Participate in all executive fringe benefits, pension, savings,
life insurance, disability, stock option, profit sharing, medical, health or
other welfare benefit plans that may be provided by the Company for its key
executives in accordance with the provisions of any such plans, as the same may
be in effect on and after the Engagement Date;

         (b) 20 annual paid vacation days in each year of employment; such
vacation to be taken at a time mutually convenient to Company and the Executive;

         (c) 5 days paid sick leave and/or personal days in each year of
employment;

         (d) 10 days of paid holidays during each calendar year;

         (e) Reimbursement for executive education programs;

         (f) Reimbursement for all reasonable and necessary out-of-pocket
business expenses, properly receipted or otherwise documented, incurred by the
Executive in the performance of Executive's duties hereunder in accordance with
the Company's policies applicable on and after the Engagement Date; and

     6. Termination by the Company.

         (a) The Executive's employment hereunder shall be terminated:

               (i) upon death of the Executive; or

               (ii) upon the Executive's inability to perform Executive's duties
on account of disability or incapacity for a period of ninety (90) or more
consecutive days occurring within any period of twelve (12) consecutive months,
such termination to take effect on 30 days prior written notice from the Company
to the Executive. A determination of disability shall be made by a physician
satisfactory to both the Executive and the Company; provided that if the
Executive and the Company do not agree on a physician, they shall each select a
physician and these two together shall select a third physician, whose
determination as to disability shall be binding on all parties; or

               (iii) at any time, for Cause (as hereinafter defined), such
termination to take effect immediately upon written notice from the Company to
the Executive, except in case of subparagraph 6(a)(iv)(3) or (4) below, in which
case termination shall only take effect after Executive has been given written
notice of specifications and a reasonable opportunity to cure any matter
referred to therein and same shall not be cured within such time; or

               (iv) upon expiration of the Employment Term.

                                       3

<PAGE>

         The following actions, failures or events shall constitute "Cause" for
termination within the meaning of clause (iii) above: (1) conviction of a
felony, (2) acts of dishonesty or moral turpitude constituting fraud or
embezzlement or otherwise materially adversely affecting the business or
properties of the Company, (3) failure by the Executive to obey the reasonable
and lawful orders of the Board of Directors of the Company or (4) repeated
negligence by the Executive in the performance of, or willful disregard by the
Executive, of Executive's obligations hereunder. If the Executive contests, in
good faith, whether termination for "Cause" is proper, said dispute shall be
immediately referred to arbitration in Suffolk County, New York, in accordance
with the provisions of Section 18 hereof. Pending the resolution of such
dispute, the Company shall continue to pay Executive his salary and benefits.
Whether Executive must return any of said amounts if it is ultimately determined
that termination for "Cause" was proper shall be decided by the Arbitrator.

         (b) Notwithstanding anything to the contrary expressed or implied
herein, except as required by applicable law, and except if the Company
terminates Executive's employment without Cause or the Executive terminates his
employment for Good Reason, the Company shall not be obligated to make any
payments to the Executive or on Executive's behalf of whatever kind or nature by
reason of the Executive's cessation of employment, other than (i) such amounts,
if any, of Executive's salary and bonus as shall have accrued and remained
unpaid as of the date of said cessation, including Back Salary, and (ii) such
other amounts which may be then otherwise payable to the Executive from the
Company's benefits plans or reimbursement policies, if any (the sum of these
amounts shall hereinafter be referred to as the "Accrued Obligations").

     7. Termination by Executive for Good Reason. The Executive may terminate
his employment with the Company for Good Reason. For purposes of this Agreement,
"Good Reason" shall mean, in the absence of the written consent of the
Executive, a reasonable determination by the Executive that any of the following
has occurred:

         (a) the assignment to the Executive of any duties inconsistent in any
     material respect with the Executive's position (including titles and
     reporting requirements, authority, duties or responsibilities as
     contemplated by Section 3 hereof), or any other action by the Company which
     results in a material diminution in such position, authority, duties or
     responsibilities, excluding for this purpose an isolated and insubstantial
     action not taken in bad faith and which is remedied by the Company promptly
     after receipt of notice thereof given by the Executive; or

         (b) any failure by the Company to comply with any of the provisions of
     this Agreement applicable to it, other than any isolated and insubstantial
     failure not occurring in bad faith and which is remedied promptly after
     notice thereof from the Executive.

     8. Obligations of the Company upon Early Termination. In the event the
Company terminates the Executive's employment during the Employment Term without
Cause, or the Executive terminates his employment for Good Reason, then the
Company shall pay or provide to the Executive the following:

         (a) all Accrued Obligations;

                                       4

<PAGE>

         (b) all Back Salary;

         (c) the Executive's Base Salary under this Agreement for the duration
     of one month, except if terminated prior to sixty days of employment, then
     a two week's severance package will be applicable and

         (d) benefits to the Executive and/or the Executive's family and
     dependents for one month and then eligibility under the COBRA plan.

     9. Rights and Obligations Upon Change in Control.

         (a) In the event of a "Change in Control," as defined below, of the
     Company during the Employment Term, the Executive may terminate his
     employment with the Company by giving 30 days' notice thereof within six
     months after the occurrence of such Change in Control. If the Executive
     terminates his employment in accordance with this Section 9, or is
     terminated without Cause within six months after a Change in Control, the
     Company shall pay the Executive an amount equal to: (i) all Accrued
     Obligations;  (ii) all Back Salary; and  (iii) all Base Salary under this
     Agreement for the duration of the Employment Term. Such payment shall be
     made in a lump sum payable on the date of termination. The Company shall
     also continue for such period to permit the Executive to receive or
     participate at the Company's expense in all fringe benefits available to
     him pursuant to Section 5 for the duration of the Employment Term;
     provided, however, in no event shall the amount paid to the Executive
     pursuant to this Section 9 exceed the maximum payment permitted by Section
     280G of the Internal Revenue Code of 1986, as amended (the "Code") or then
     applicable law, and to the extent any "excess parachute payment," as that
     phrase is defined in Section 280G(b) of the Code or then applicable law,
     would result from the provisions of this Section 9, then the amount the
     Executive would otherwise receive shall be reduced so that no "excess
     parachute payment" is made by the Company or received by the Executive.

         (b) A "Change in Control" of the Company shall be deemed to have
     occurred as of the first day that any one or more of the following
     conditions shall have occurred:

               (i) Any "person" (as such term is used in Sections 13(d) and
         14(d) of the Securities Exchange Act of 1934, as amended (the "Act")),
         other than the Executive or its Affiliates, becomes the "beneficial
         owner" (as defined in Rule 13-d under the Act), directly or indirectly,
         of securities representing more than fifty percent (50%) of the total
         voting power represented by the Company's then outstanding voting
         securities;

               (ii) A change in the composition of the Board, as a result of
         which fewer than a majority of the directors are Incumbent Directors.
         "Incumbent Directors" shall mean directors who either (a) are directors
         of the Company as of the date hereof, or (b) are elected, or nominated
         for election, to the Board with the affirmative votes of at least a
         majority of the Incumbent Directors at the time of such election or
         nomination; or

               (iii) The Company merges or consolidates with any other
         corporation after which a majority of the shares of the resulting
         entity are not held by the

                                       5

<PAGE>

         stockholders of the Company prior to the merger, or the Company adopts,
         and the stockholders approve, if necessary, a plan of complete
         liquidation of the Company, or the Company sells or disposes of
         substantially all of its assets.

     10. Confidential Information. The Executive hereby covenants, agrees and
acknowledges as follows:

         (a) The Company is engaged in a continuous program of research, design,
     development, production, marketing and servicing with respect to its
     business. (b) The Executive's employment hereunder creates a relationship
     of confidence and trust between the Executive and the Company with respect
     to certain information pertaining to the business of the Company and its
     Affiliates (as hereinafter defined) or pertaining to the business of any
     client or customer of the Company or its Affiliates which may be made known
     to the Executive by the Company or any of its Affiliates or by any client
     or customer of the Company or any of its Affiliates or learned by the
     Executive during the period of Executive's employment by the Company.

         (c) The Company possesses and will continue to possess information that
     has been created, discovered or developed by, or otherwise become known to
     it (including, without limitation, information created, discovered or
     developed by, or made known to, the Executive during the period of
     Executive's employment or arising out of Executive's employment) or in
     which property rights have been or may be assigned or otherwise conveyed to
     the Company, which information has commercial value in the business in
     which the Company is engaged and is treated by the Company as confidential.

         (d) Any and all inventions, products, discoveries, improvements,
     processes, manufacturing, marketing and services methods or techniques,
     formulae, designs, styles, specifications, data bases, computer programs
     (whether in source code or object code), know-how, strategies and data,
     whether or not patentable or registrable under copyright or similar
     statutes, made, developed or created by the Executive (whether at the
     request or suggestion of the Company, any of its Affiliates, or otherwise,
     whether alone or in conjunction with others, and whether during regular
     hours of work or otherwise) during the period of Executive's employment by
     the Company which directly pertain to the business, products, or processes
     of the Company or any of its Affiliates (collectively hereinafter referred
     to as "Developments"), will be promptly and fully disclosed by the
     Executive to an appropriate executive officer of the Company (other than
     the Executive) without any additional compensation therefore, including,
     without limitation, all papers, drawings, models, data, documents and other
     material pertaining to or in any way relating to any Developments made,
     developed or created by Executive as aforesaid. For the purposes of this
     Agreement, the term "Affiliate" or "Affiliates" shall mean any person,
     corporation or other entity directly or indirectly controlling or
     controlled by or under direct or indirect common control with the Company.
     For the purposes of this definition, "control" when used with respect to
     any person, corporation or other entity means the power to direct the
     management and policies of such person or entity, directly or indirectly,
     whether through the ownership of voting securities, by contract or
     otherwise; and the terms "controlling" and "controlled" have meanings
     correlative to the foregoing.

                                       6

<PAGE>

         (e) The Executive will keep confidential and will hold for the
     Company's sole benefit any Development which is to be the exclusive
     property of the Company under this Section 10 for which no patent,
     copyright, trademark or other right or protection is issued.

         (f) The Executive also agrees that the Executive will not without the
     prior approval of the Board (i) use for Executive's benefit or disclose at
     any time during Executive's employment by the Company, or thereafter,
     except to the extent required by the performance by Executive of
     Executive's duties as an executive of the Company, any information known
     to, obtained or developed by Executive while in the employ of the Company
     with respect to any Developments or with respect to any customers, clients,
     suppliers, products, services, prices, executives, financial affairs, or
     methods of design, distribution, marketing, service, procurement or
     manufacture of the Company or any of its Affiliates, or any confidential
     matter, except information which at the time is generally known to the
     public other than as a result of disclosure by Executive not permitted
     hereunder, or (ii) take with Executive upon leaving the employ of the
     Company any document or paper relating to any of the foregoing or any
     physical property of the Company or any of its Affiliates.

         (g) The Executive acknowledges and agrees that a remedy at law for any
     breach or threatened breach of the provisions of this Section 10 would be
     inadequate and, therefore, agrees that the Company and its Affiliates shall
     be entitled to injunctive relief in addition to any other available rights
     and remedies in case of any such breach or threatened breach; provided,
     however, that nothing contained herein shall be construed as prohibiting
     the Company or any of its Affiliates from pursuing any other rights and
     remedies available for any such breach or threatened breach.

         (h) The Executive agrees that upon termination of Executive's
     employment by the Company for any reason, the Executive shall forthwith
     return to the Company all documents and other property in Executive's
     possession or under the Executive's control belonging to the Company or any
     of its Affiliates.

         (i) The Executive represents and warrants that he has terminated
     employment with one or more prior employers and that his employment by the
     Company and the use by the Company of any skills and knowledge that he may
     have, are not in violation of the terms of any contract that he is a party
     to or any other applicable provision of the law.

         (j) The Executive represents and warrants that his performance of all
     the terms of this Agreement and his duties as an employee of the Company
     does now and will not knowingly breach any agreement to keep in confidence
     confidential information acquired by him in confidence or in trust prior to
     his employment with the Company. The Executive further represents and
     warrants that he has not entered into and he will not enter into any
     agreement either written or oral in conflict herewith.

         (k) Notwithstanding the foregoing, the following will not constitute
     confidential information for purposes of this Agreement: (i) information
     which is or becomes publicly available other than as a result of disclosure
     by the Executive; or (ii) information designated by the Company as no
     longer confidential.

                                       7

<PAGE>

         (l) The Executive represents and warrants that he has not brought and
     will not bring with him to the Company or use in the performance of his
     responsibilities at the Company (a) any materials, documents or
     confidential information of a former employer which are not generally
     available to the public, unless he has obtained written authorization from
     the former employer for their possession and use, or (b) any confidential
     information which he knows or should have known has been acquired by
     improper means, or otherwise misappropriated from another person.

         (m) Without limiting the generality of Section 12 hereof, the Executive
     hereby expressly agrees that the foregoing provisions of this Section 10
     shall be binding upon the Executive's heirs, successors and legal
     representatives.

     11. Non-Competition.

         (a) During the period during which Executive is employed hereunder and,
     at the Company's option and subject to the Company continuing to pay the
     Executive all salary and benefits paid to him in the year preceding his
     termination, during the one-year period following such termination (the
     "Non-Competition Period"):

               (i) the Executive will not make any statement or perform any act
         intended to advance an interest of any existing or prospective
         competitor of the Company or any of its Affiliates in any way that will
         or may injure an interest of the Company or any of its Affiliates in
         its relationship and dealings with existing or potential customers or
         clients, or solicit or encourage any other executive of the Company or
         any of its Affiliates to do any act that is disloyal to the Company or
         any of its Affiliates or inconsistent with the interest of the Company
         or any of its Affiliate's interests or in violation of any provision of
         this Agreement;

               (ii) the Executive will not solicit, divert or take away, or
         attempt to divert or to take away, the business or patronage of any of
         the clients, customers, dealers, distributors, representatives or
         accounts, or prospective clients, customers, dealers, distributors,
         representatives or accounts, of the Company or its Affiliates which
         were contacted, solicited or served by employees of the Company while
         the Executive was employed by the Company;

               (iii) the Executive will not directly or indirectly (as a
         director, stockholder, officer, Executive, manager, consultant,
         independent contractor, advisor or otherwise) engage in competition
         with, or own any interest in, perform any services for, participate in
         or be connected with (i) any business or organization which engages in
         competition with the Company or any of its Affiliates in the United
         States or any other geographical area where any business is presently
         carried on by the Company or any of its Affiliates, or (ii) any
         business or organization which engages in competition with the Company
         or any of its Affiliates in any geographical area where any business
         shall be hereafter, during the period of the Executive's employment by
         the Company, carried on by the Company or any of its Affiliates, if
         such business is being carried on by the Company or any of its
         Affiliates in such geographical area during the Non-Competition Period;
         and

               (iv) the Executive will not directly or indirectly solicit for
         employment, or advise or recommend to any other person that they employ
         or solicit for employment, any employee of the Company or any of its
         Affiliates;

                                       8

<PAGE>

provided, however, that there shall be no Non-Competition Period following the
termination of the Executive without Cause, or following the termination by the
Executive of his employment for Good Reason; and provided, further, that the
provisions of this Section 11(a) shall not be deemed to prohibit the Executive's
ownership of not more than five percent (5%) of the total shares of all classes
of stock outstanding of any publicly-held company.

     (b) (i) The Executive further agrees that the limitations set forth in this
Section 11 (including, without limitation, any time or territorial limitations)
are reasonable and properly required for the adequate protection of the
businesses of the Company and its Affiliates. It is understood and agreed that
the covenants made by the Executive in this Section 11 (and in Section 10
hereof) shall survive the expiration or termination of this Agreement.

               (ii) The Executive acknowledges and agrees that a remedy at law
for any breach or threatened breach of the provisions of this Section 11 would
be inadequate and, therefore, agrees that the Company and any of its Affiliates
shall be entitled to injunctive relief in addition to any other available rights
and remedies in cases of any such breach or threatened breach; provided,
however, that nothing contained herein shall be construed as prohibiting the
Company or any of its Affiliates from pursuing any other rights and remedies
available for any such breach or threatened breach.

     12. Assignability. Neither this Agreement nor any right or interest
hereunder shall be assignable by the Executive, Executive's beneficiaries, or
legal representatives without the Company's prior written consent; provided,
however, that nothing in this Section 12 shall preclude the Executive from
designating a beneficiary to receive any benefit payable hereunder upon
Executive's death or incapacity.

     13. Binding Effect. Without limiting or diminishing the effect of Section
12 hereof, this Agreement shall inure to the benefit of and be binding upon the
parties hereto and their respective heirs, successors, legal representatives and
assigns; except under no circumstances will the provisions of Section 11 be
binding upon the Executive's heirs, successors, legal representatives or
assigns.

     14. Notice. Any notice required or permitted to be given under this
Agreement shall be sufficient if in writing and either delivered in person or
sent by first class certified or registered mail, postage prepaid, if to the
Company, at the Company's principal place of business, and if to the Executive,
at Executive's home address set forth on the signature hereto, or to such other
address or addresses as either party shall have designated in writing to the
other party hereto.

     15. Severability. The Executive agrees that in the event that any court of
competent jurisdiction shall finally hold that any provision of Section 10 or 11
hereof is void or constitutes an unreasonable restriction against the Executive,
such provision shall not be rendered void but shall apply to such extent as such
court may judicially determine constitutes a reasonable restriction under the
circumstances. If any part of this Agreement other than Section 10 or 11 is held
by a court of competent jurisdiction to be invalid, illegible or incapable of
being enforced in whole or in part by reason of any rule of law or public
policy, such part shall be deemed to be severed from the remainder of this
Agreement for the purpose only of the particular legal proceedings in question
and

                                       9

<PAGE>

all other covenants and provisions of this Agreement shall in every other
respect continue in full force and effect and no covenant or provision shall be
deemed dependent upon any other covenant or provision.

     16. Waiver. Failure to insist upon strict compliance with any of the terms,
covenants or conditions hereof shall not be deemed a waiver of such term,
covenant or condition, nor shall any waiver or relinquishment of any right or
power hereunder at any one or more times be deemed a waiver or relinquishment of
such right or power at any other time or times.

     17. Entire Agreement; Modifications. This Agreement constitutes the entire
and final expression of the agreement of the parties with respect to the subject
matter hereof and supersedes all prior agreements, oral and written, between the
parties hereto with respect to the subject matter hereof. This Agreement may be
modified or amended only by an instrument in writing signed by both parties
hereto.

     18. Governing Law and Arbitration of Disputes. This Agreement shall be
construed and enforced in accordance with the internal laws of the State of New
York without regard to the conflicts of law principles thereof. Any dispute
arising hereunder shall be settled by arbitration in Suffolk County, New York,
in accordance with the rules then obtaining of the American Arbitration
Association ("AAA"). One Arbitrator will be chosen by the parties who shall be
an attorney experienced in labor and employment law. If the parties cannot agree
on the identity of the Arbitrator, he will be appointed by the head of the AAA
in Suffolk County, New York.

     19. Prior Employment Agreement in Force. The parties hereto agree that the
previous Employment Agreement entered into as of (none), by and between the
parties hereto shall remain in full force and effect until this Agreement
becomes effective.

     20. 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 instrument.

         IN WITNESS WHEREOF, the Company and the Executive have duly executed
and delivered this Agreement as of the day and year first above written.

                          OMNICORDER TECHNOLOGIES, INC.

                          By:
                             -----------------------------------
                             Name:  Mark A. Fauci
                             Title: President & CEO

                             -----------------------------------
                             LORING D. ANDERSEN

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