Document:

EMPLOYMENT
AGREEMENT

    

    THIS
EMPLOYMENT AGREEMENT (the "Agreement") is entered into on May 29, 2009 by BAETA
Corp, a New Jersey corporation with its principal place of business located at
253 Warren Ave, Fort Lee, NJ 07024 (hereinafter referred to as the "Company"),
and Leonid Pushkantser, an individual residing at 251 Warren Ave, Fort Lee, NJ
07024 (the "Executive").

     

    The
Company desires to employ Executive, and Executive desires to be employed by the
Company on the terms and conditions set forth in this Agreement.

     

    In
consideration of the mutual covenants and promises contained in this Agreement,
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged by the Company and Executive, the Company and Executive
agree as follows:

    

    1. Term of Employment.
Upon the terms set forth in this Agreement, the Company employs Executive and
Executive accepts employment with the Company for the period commencing on June
1, 2009 and ending on June 1, 2014 (such period, the "Original Term"), unless
sooner terminated in accordance with the provisions of Section 4 below. Upon the
expiration of the Original Term, the term of Executive's employment will be
automatically extended for additional terms of five years each (each such
period, an "Additional Term") on terms substantially similar to this Agreement
unless any Additional Term is sooner terminated in accordance with the
provisions of Section 4 below or unless on or before ninety days prior to the
end of the Original Term or any Additional Term, the Company notifies the other
in writing that Executive's employment under this Agreement will not be extended
beyond the Original Term or the applicable Additional Term.

     

    2. Title and Capacity.
Executive will serve as the Chief Executive Officer of  the Company,
and will perform the duties commensurate with such position with a standard of
care and diligence that are required persons in similarly situated positions.
Executive will devote the proper attention and energies on a full-time basis to
the above duties, and Executive will not, during the term of this Agreement,
actively engage in any other for profit business activity, except Executive may,
so long as such activities do not impair Executive's performance of his duties
under this Agreement, (a) serve as a director of up to two entities other than
the Company so long as each company is not in any way, either directly or
indirectly, a competitor of Company or otherwise detrimental to Company’s
well-being, as determined by the Company’s President in his sole discretion, and
(b) write, teach and publish articles and books.

     

    3. Compensation and
Benefits.

     

    3.1    Salary and
Bonus.

     

    (a)
During the Original Term, the Company will pay Executive an annual base salary
of:

     

    
      
        
          
            
              
                
                  
                    	
                            § First six months
      of Original Term:

                          	 	$	180,000	 
	
                            § Second six months
      of Original Term:

                          	 	$	250,000	 
	
                            § Second year of
      Original Term:

                          	 	$	250,000	 
	
                            § Third year of
      Original Term:

                          	 	$	250,000	 
	
                            § Fourth year of
      Original Term:

                          	 	$	250,000	 
	
                            § Fifth year of
      Original Term:

                          	 	$	250,000	 

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (b)
During any Additional Term, the Company will pay Executive an annual base salary
mutually acceptable to Executive and the Compensation Committee of the Board
(the "Compensation Committee").

     

    (c) For
each completed year of the Original Term and any Additional Term, the Company
will pay Executive a bonus. The size the bonus will be determined in the sole
discretion of the Compensation Committee in accordance with the Company's annual
bonus plan and goals set for Executive consistent with those set for the
Company's senior executives generally. The bonus payment made under this Section
3.1(c) with respect to any completed year will be referred to as a
"Bonus."

     

    3.2 Payment in
Installments. The Company will pay Executive's annual base salary in
periodic installments in accordance with the Company's general payroll
practices, after withholding for all Federal, state and local taxes and other
required deductions. The Company will pay the Bonus, if any as determined in the
sole discretion of the Compensation Committee, within 90 days of completion of
Executive's applicable year of employment.

     

    3.3    Stock
Options.

     

     (a)
On May 29, 2009, the date on which the Board considered and approved the
employment of Executive subject to the execution of this Agreement, the Company
approved the grant to Executive of options to acquire up to 400,000 shares of
the Company's common stock under the Company's 2009 Equity Compensation Plan
(the "Plan Options"). The Plan Options will have a term of five years and will
be first exercisable as follows: 100,000 shares on May 29, 2010; 100,000 shares
on May 29, 2011; and the balance in three equal, annual installments beginning
on May 29, 2012. Executive and Company will, upon commencement of Original Term,
determine the maximum number of shares that may be subject to options granted as
an "Incentive Stock Options" as such term is defined in the Company's 2009
Equity Compensation Plan (the "Equity Plan") and as set forth in section 422 of
the Internal Revenue Code of 1986, as amended (the "Code") based on the fair
market value of the Company's shares on that date and the first exercise dates
set forth above. The Incentive Stock Options will have an exercise price equal
to that fair market value. All options not treated as Incentive Options will be
exercisable at $1.00 per share. If Executive is terminated with Cause as defined
in section 4.2 below, all of Executive’s issued but non-exercised options shall
automatically terminate. If Executive is terminated without Cause as defined in
section 4.3 below, Executive shall have 30 days to exercise all vested options.
If Executive terminates his employment or notifies the Company of his intent not
to serve any Additional Term, Executive shall forfeit all of his unvested
options, and shall have thirty (30) days to exercise all vested options, of
which after that thirty day period, he shall forfeit all unexercised options,
then in his possession.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    3.4    Benefits.

     

    (a)
Provided Executive meets and continues to meet the full-time and any and all
other standards after six months of employment, the Company will make available
to Executive the standard full-time Executive benefits and benefit plans, and
all executive perquisites, subject to Executive cost sharing provisions and
other provisions of such benefits and benefit plans. The benefit plan will
include short and long term disability coverage in addition to health, dental,
and eye care benefits for Executive and his spouse. Notwithstanding the
preceding, the Company may change, modify, amend, eliminate, or terminate any
benefit or benefit plan or change the Executive cost sharing provisions of any
such benefit or benefit plan, and if the Company does so for other senior
executives, thereafter Executive will be entitled only to then available
standard full-time Executive benefits and benefit plans.

     

    3.5 Paid Time
Off.

    

    Executive
is entitled to three weeks vacation, five sick days, eleven Holidays and two
alternative Holidays as paid time off days per year to be accrued in accordance
with the Company's policy, as amended from time to time, and taken at such times
as may be approved by the Board of Directors.

     

    3.6    Expenses.

     

     (a)
The Company will reimburse Executive for all reasonable and accountable travel,
entertainment and other expenses incurred or paid by Executive in connection
with, or related to, the performance of his duties under this Agreement in
accordance with the Travel and Expense Policy published by the Company's Finance
Department for senior executives generally, as amended from time to
time.

     

    3.7 Stock
Purchase.

    

    Within 90
days of Executive's first date of employment, Executive may purchase from the
Company up to 200,000 shares of the Company's common stock at a price of $0.50
per share. These shares will not be subject to any restrictions other than those
applicable under the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder.

    

    4. Employment
Termination.

    

    The
employment of Executive by the Company under this Agreement will terminate upon
the occurrence of any of the following:

     

    4.1 Expiration of Term.
At the election of Executive or the Company upon the expiration of the Original
Term or any Additional Term if Executive or the Company notified the other
pursuant to Section 1 above that Executive's employment under this Agreement
will not be extended for an Additional Term.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    4.2 Cause. At the
election of the Company, for "cause" as defined below, immediately upon written
notice by the Company to Executive, except as provided below. "Cause" for
termination is deemed to exist by reason of (a) any misrepresentation or breach
by Executive under this Agreement, (b) any action by Executive resulting in the
conviction of Executive of, or the entry of a plea of guilty or nolo contendere
by Executive to, any crime involving moral turpitude, any felony, or any
misdemeanor involving misconduct or fraud in business activities, (c) any breach
of a fiduciary duty to the Company involving personal profit or otherwise, (d)
Executive's willful misconduct, or recklessness or gross negligence in the
performance of his duties under this Agreement, (e) any action(s) by Executive
which constitute a violation of any U.S. Federal or state securities laws, and
any action(s) by Executive which result in an investigation by the U.S.
Securities and Exchange Commission (“SEC”) or other regulatory agency or self
regulatory organization, whether such investigation is directed towards
Executive in his capacity as officer of the Company, or in his individual
capacity, where the substance of any such investigation is regarding possible
violation of any U.S. Federal or state securities laws of which Executive is in
some manner involved, whether or not such investigation leads to a determination
of Executive’s guilt or not, this shall be a Cause for termination,
and  (f) repeated refusals by Executive to comply with the reasonable
directives of the Board that are consistent with his position; provided,
however, that the Company may terminate Executive's employment under Sections
4.2 (f) above only after Executive fails (x) to commence and continue to correct
or cure each specific instance comprising cause within 10 days of receipt by
Executive of written notice of the Board identifying each instance constituting
cause or (y) to correct or cure each identified instance within 45 days of
receipt of such notice.

     

    4.3 Without Cause. At the
election of the Company, at any time, upon 60 days written notice for any reason
whatsoever other than for cause.

     

    4.4 Death or Disability.
Upon Executive's death or 30 days after Executive's disability. "Disability"
means the inability of Executive, due to a physical or mental disability, to
perform the duties contemplated under this Agreement for a period of 180
consecutive days. A physician satisfactory to Executive and the Company will
determine if Executive is disabled. If Executive and the Company cannot agree on
a physician within 30 days of either party's written notice to the other,
Executive and the Company will each select a physician, who will together select
a third physician. The determination of the physician(s) as to disability will
be binding on all parties.

    

    4.5 Termination by
Executive. At the election of Executive:

    

    (a) At
any time if his health should become impaired to an extent that makes the
continued performance of his duties under this Agreement hazardous to his
physical or mental health or his life, as certified by a physician designated by
Executive and reasonably acceptable to the Company; (b) for "good reason" upon
delivery of written notice of such "good reason" to the Company; or (c) upon 15
days (three weeks) written notice of termination. "Good reason" means: (1) the
failure by the Company to continue Executive in the position of the Chief
Executive Officer of the Company (or such other senior executive position as may
be offered by the Company and which Executive may in his sole discretion
accept); (2) the failure by the Company to pay and provide to Executive the
compensation provided in Section3.1 above, which failure is not cured within 15
days after written notice of such failure is delivered by Executive to the
Company; (3) requiring Executive to be permanently based anywhere other than
within 50 miles of his present home in Fort Lee, New Jersey (excluding
reasonable business related travel as required by the Company's business); or
(4) any other material breach of this Agreement by the Company, which breach is
not cured within 14 days after written notice of such breach is delivered by
Executive to the Company.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    5. Effect of
Termination.

     

    5.1    Expiration of
Term.

     

     (a)
If Executive elects not to renew Executive's employment for any Additional Term
under Section 4.1, the Company will pay to Executive the base salary and
benefits otherwise payable to Executive under Sections 3.1, 3.2 and 3.4, pro
rata through the last day of Executive's actual employment by the
Company.

     

     (b)
If the Company elects not to renew Executive's employment for any Additional
Term under Section 4.1, the Company will pay to Executive (1) severance equal to
12 months of base salary then applicable under Section 3.1 in the manner
provided under Section 3.2, (2) an amount equal to the average Bonus paid to
Executive for the most recent two years of the Initial Term or Additional Term
in the manner provided under Section 3.2, and (3) for the period that Executive
is receiving severance, an additional amount equal to the Company's then
applicable contribution to Executive's standard full-time health benefits, or,
if greater, the amount Executive would be required to pay to maintain full-time
health benefits under COBRA. Executive is not required to mitigate
damages to receive the payments set forth in this Section 5.1(b).

     

    5.2 Termination for
Cause. If the Company terminates Executive's employment for cause under
Section 4.2, the Company will pay to Executive (1) severance equal to 6 months of base salary then
applicable under Section 3.1 in the manner provided under Section 3.2, (2) an
amount equal to the average Bonus paid to Executive for the most recent two
years of the Initial Term or Additional Term in the manner provided under
Section 3.2, and (3) for the period that Executive is receiving severance, an
additional amount equal to the Company's then applicable contribution to
Executive's standard full-time health benefits, or, if greater, the amount
Executive would be required to pay to maintain full-time health benefits under
COBRA. Executive is not required to mitigate damages to receive the payments set
forth in this Section 5.2

     

    5.3    Termination Without
Cause.

     

    (a) If
the Company terminates Executive's employment under Section 4.3 for any reason
other than for cause at any time during the Original Term or any Additional
Term, the Company will pay to Executive (1) severance equal to 12 months of base
salary then applicable under Section 3.1 in the manner provided under Section
3.2, (2) an amount equal to the average Bonus paid to Executive for the most
recent two years of the Initial Term or Additional Term in the manner provided
under Section 3.2, and (3) for the period that Executive is receiving severance,
an additional amount equal to the Company's then applicable contribution to
Executive's standard full-time health benefits or, if greater, the amount
Executive would be required to pay to maintain full-time health benefits under
COBRA.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    (b)
Executive acknowledges that if Executive's employment is terminated pursuant to
Section 4.3, the payment in full of the severance, and payments on account of
the Bonus and health benefits under this Section 5.3 and the provisions
regarding his stock options in Section 3.3, represent the total obligation of
the Company.

    

    6.0 Hold Harmless
Clause.

    

    The
Company agrees to indemnify and hold harmless the Executive from and against any
and all claims, demands, loss or liability of every nature, occurring in any way
connected with the Executive and his relationship with the Company.

    

    7.0 Confidential Information;
Non-Competition; Non-solicitation.

    

     (a)
Confidential
Information. Except as may be required or appropriate in connection with
his carrying out his duties under this Agreement, the Executive shall not,
without the prior written consent of the Company or as may otherwise be required
by law or any legal process, or as is necessary in connection with any
adversarial proceeding against the Company (in which case the Executive shall
cooperate with the Company in obtaining a protective order at the Company's
expense against disclosure by a court of competent jurisdiction), communicate,
to anyone other than the Company and those designated by the Company or on
behalf of the Company in the furtherance of its business or to perform her
duties hereunder, any trade secrets, confidential information, knowledge or data
relating to the Company and its businesses and investments, obtained by the
Executive during the Executive's employment by the Company that is not generally
available public knowledge (other than by acts by the Executive in violation of
this Agreement).

    

     (b)
Noncompetition.
During the employment period and until the 12-month anniversary of the
Executive's date of termination, the Executive shall not engage in or become
associated with any Competitive Activity. For purposes of this Section 7(b), a
"Competitive Activity" shall mean any business or other endeavor that engages in
any country in which the Company has significant business operations as of the
date of termination to a significant degree in a business that directly competes
with all or any substantial part of the Company's business The Executive shall
be considered to have become "associated with a Competitive Activity" if he
becomes involved as an owner, Executive, officer, director, independent
contractor, agent, partner, advisor, or in any other capacity calling for the
rendition of the Executive's personal services, with any individual,
partnership, corporation or other organization that is engaged in a Competitive
Activity and her involvement relates to a significant extent to the Competitive
Activity of such entity; provided, however, that the Executive shall not be
prohibited from (a) owning less than one percent (1%) of any publicly traded
corporation, whether or not such corporation is in competition with the Company
or (b) serving as a director of a corporation or other entity the primary
business of which is not a Competitive Activity. If, at any time, the provisions
of this Section 7(b) shall be determined to be invalid or unenforceable, by
reason of being vague or unreasonable as to area, duration or scope of activity,
this Section 7(b) shall be considered divisible and shall become and be
immediately amended to only such area, duration and scope of activity as shall
be determined to be reasonable and enforceable by the court or other body having
jurisdiction over the matter; and the Executive agrees that this Section 7(b) as
so amended shall be valid and binding as though any invalid or unenforceable
provision had not been included herein.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    (c) Nonsolicitation.
During the Employment Period, and for 12 months after the Executive's date of
termination, the Executive will not, directly or indirectly, solicit for
employment by other than the Company any person (other than any personal
secretary or assistant hired to work directly for the Executive) employed by the
Company or its affiliated companies, nor will the Executive, directly or
indirectly, solicit for employment by other than the Company any person known by
the Executive (after reasonable inquiry) to be employed at the time by the
Company or its affiliated companies.

    

     (d)
Injunctive
Relief. In the event of a breach or threatened breach of this Section 7,
the Executive agrees that the Company shall be entitled to injunctive relief in
a court of appropriate jurisdiction to remedy any such breach or threatened
breach, the Executive acknowledging that damages would be inadequate and
insufficient.

    

    8. Intellectual
Property.

    

    A. Any
and all inventions, improvements, ideas and innovations, whether or not
patentable, which the Executive may invent, discover, originate, make or
conceive during his services to the Company or any of its Affiliates, whether
prior to or during the Employment Term, either solely or jointly with others,
and which in any way relate to or are or may be used in connection with the
business of the Company or any of its Affiliates shall be, to the extent of the
Executive’s interest therein, the sole and exclusive property of the Company or
such Affiliate and the Executive’s interest therein shall be assigned by the
Executive to the Company or such Affiliate, as the case may be, or to the
Company's or such Affiliate's nominee(s). The Executive, upon the request and at
the expense of the Company, shall and shall use his best efforts to cause any
such other person(s) to promptly and fully disclose each and all such
discoveries, inventions, improvements, ideas or innovations to the Company, the
applicable Affiliate or any nominee(s) thereof. Further, the Executive, upon the
request and at the expense of the Company, shall use his best efforts to cause
any such other person(s) to, assign to the Company or the applicable Affiliate,
without further compensation therefore, all right, title and interest in and to
each and all such discoveries, inventions, improvements, ideas or innovations
which are reduced to writings, drawings or practice within two (2) years after
the termination of the Employment Term.

    

    B. The
Executive further agrees to execute at any time, upon the request and at the
expense of the Company, for the benefit of the Company, any of its Affiliates or
any nominee(s) thereof, any and all appropriate applications, instruments,
assignments and other documents, which the Company shall deem necessary or
desirable to protect its (or any of its Affiliate's) entire right, title and
interest in and to any of the discoveries, inventions, improvements, ideas and
innovations.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    C. The
Executive agrees, upon the request and at the expense of the Company or any
person to whom the Company or any of its Affiliates may have granted or grants
rights, to execute any and all appropriate applications, assignments,
instruments and papers, which the Company shall deem necessary for the
procurement in the United States of America and foreign countries of patent
protection for the discoveries, inventions, improvements, ideas or innovations
to be so assigned, including the execution of new, provisional, continuing and
reissue applications, to make all rightful oaths, to testify in any proceeding
before any governmental authority authorized to grant or administer patent
protection or before any court, and generally to do everything lawfully possible
to aid the Company, its Affiliates and its and their successors, assigns and
nominees to obtain, enjoy and enforce proper patent protection for the
discoveries, inventions, improvements, ideas or innovations conceived or made by
him during the course of his services to the Company or any of its Affiliates
for a period of two (2) years after the termination of the Employment
Term.

    

    9. Severability. If any
provision of this Agreement shall, in whole or in part, prove to be invalid for
any reason, such invalidity shall affect only the portion of such provision
which shall be invalid, and in all other respects this Agreement shall stand as
if such invalid provision, or other invalid portion thereof, had not been a part
hereof.

    

    10. Equitable Remedies.
Each of the parties hereto acknowledges and agrees that upon any breach by the
Executive of his obligations under any section of this Agreement hereof, the
Company will have no adequate remedy at law, and accordingly will be entitled to
specific performance and other appropriate injunctive and equitable
relief.

    

    11. Assignment. The
rights and obligations of the Company under this Agreement shall inure to the
benefit of and shall be binding upon the successors and assigns of the Company,
provided that neither this Agreement nor the rights and obligations of the
Company under this Agreement may be assigned by the Company other than to an
Affiliate of the Company. The Executive may not assign to any other person his
rights and/or obligations under this Agreement.

    

    12. Amendment. This
Agreement and any term, covenant, condition or other provision hereof may be
changed, waived, discharged or terminated solely by an instrument in writing
signed by the parties hereto.

    

    13. Waiver of Breach. The
waiver by the Company of a breach of any provision of this Agreement by the
Executive shall not operate or be construed as a waiver of any other breach by
the Executive.

    

    14. Notices. All notices,
requests, demands, consents and other communications in connection with this
Agreement shall be in writing or by written telecommunication and shall be
delivered personally or mailed as follows: by registered or certified mail or by
overnight courier, postage prepaid, or sent by written telecommunication to the
addresses of record, or, at such other address as the parties hereto may from
time to time designate in writing.

    

    15. Governing Law. This
Agreement shall be governed by and construed in accordance with the laws of the
State of New Jersey.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    16. Arbitration of
Disputes. Any controversy or claim arising out of or relating to this
Agreement or the breach thereof shall be settled by arbitration in accordance
with the laws of New Jersey by two arbitrators, one of whom shall be appointed
by the Company, one of whom shall be appointed by the Executive and if agreement
cannot be reached, by a third arbitrator which shall be appointed by agreement
of the first two arbitrators. Such arbitration shall be conducted in New Jersey
in accordance with the rules of the prevailing Arbitration Association. Judgment
upon the award rendered by the arbitrators may be entered in any court having
jurisdiction thereof. All fees and expenses of the arbitration process shall be
borne equally by the parties hereto regardless of the final outcome, unless and
to the extent the arbitrators shall determine that under the circumstances the
sharing of all or a part of any such fees and expenses would be
unjust.

    

    17. Entire Agreement.
This Agreement embodies the entire agreement between the Company and the
Executive relating to the subject matter hereof, and, except as otherwise
expressly provided herein, this Agreement shall not be affected by reference to
any other document.

    

    18. Headings, Etc. The
headings of the sections of this Agreement have been inserted for convenience of
reference only and shall not be deemed to be a part of this
Agreement.

    

    19. Counterparts. This
Agreement may be executed in counterparts and with facsimile signatures with the
effect as if all parties hereto had executed the same resolution. All
counterparts shall be construed together and shall constitute a single executed
Agreement. Telecopied or email (via PDF) signatures shall be deemed to have the
same effect as an original.

    

    *****************************************

    

    IN WITNESS WHEREOF, the
parties have executed this Agreement as of the 29th day of
May, 2009.

    

    
      
        
          
            
              
                
                  
                    	      
                            /s/
      Dr. Alexander Gak 

                          	
                               

                          	 
      
	
                            Dr.
      Alexander Gak

                          	 
      
	
                            President
      and Chairman

                          	 
      
	 
      	 
      
	 
      	 
      
	      
                            /s/
      Mr. Leonid Pushkantser 

                          	
                              

                          	 
      
	
                            Mr.
      Leonid PushkantserEMPLOYMENT
AGREEMENT

     

             THIS
EMPLOYMENT AGREEMENT (the "Agreement") is entered into on May 29, 2009, by BAETA
Corp., a New Jersey corporation with its principal business offices located at
253 Warren Av fort Lee, NJ 07024 (the "Company"),  and EUGENE GRIBOV,
an individual residing at 300 Winston Dr. #2307, NJ 07010
("Executive").

     

             The
Company desires to employ Executive, and Executive desires to be employed by the
Company on the terms set forth in this Agreement.

     

             In
consideration of the mutual covenants and premises contained in this Agreement,
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged by the Company and Executive, the Company and Executive
agree as follows: 

     

    1. Term
of Employment. Upon the terms set forth in this Agreement, the Company employs
Executive and Executive accepts employment with the Company for the period
commencing on June 1, 2009 and ending on June 1, 2014 (such period, the
"Original Term"), unless sooner terminated in accordance with the provisions of
Section 4 below. Upon the expiration of the Original Term, the term of
Executive's employment will not automatically extend for any additional
term.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

       

    

    2. Title
and Capacity. Executive will serve as the Chief Technology Officer
of  the Company, and will perform the duties commensurate with such
positions and such other duties as the Company's Board of Directors (the
"Board") or the Chairman may assign to Executive consistent with his
position.  Executive will devote attention and energies on a part-time
basis to the above duties, and Executive will maintain, during the term of this
Agreement, the ability to actively engage in any other for profit business
activity.

     

    3.
Compensation and Benefits. 

     

    3.1       Compensation 

     

    (a)
During the Original Term, the Executive will receive an annual
base  compensation of:  60,000 common shares of BAETA
Corp.

     

    3.2        Payment
in Installments.

     

    The
Company will pay Executive's annual base compensation in

     

    12
(twelve) installments. 

     

                        3.3       Stock
Options. 

     

    (a) On
April 21, 2009, the date on which the Board considered and approved the
employment of Executive subject to the execution of this Agreement, the Company
approved the grant to Executive of options to acquire 50,000 shares of the
Company's common stock under the Company's 2009 Equity Compensation Plan (the
"Plan Options"). The Plan Options will have a term of  10 years and
will be first vested as follows:

     

    10,000
shares on April 21, 2010;

     

    10,000
shares on April 21, 2011;

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    10,000
shares on April 21, 2012;

     

    10,000
shares on April 21, 2013;

     

    and
10,000 shares on April 21,  2014.

     

    All
options will be exercisable at $0.50 per share. 

     

    (b) The
Plan Options will be vested and exercisable in full under the terms of the stock
option agreement between the Company and Executive for at least 12 months (a) if
the Company terminates Executive's employment under Section 4.3 for any reason
other than for cause, (b) if Executive terminates Executive's employment under
Section 4.5(b) for good reason, (c) in the event of Executive's death or
"disability," as defined in the Equity Plan or (d) in the event of a "Change in
Control," as such term is defined in the Equity Plan. Except as provided in this
Section 3.3, the Plan Options are in all respects subject to the terms of the
Equity Plan and the stock option agreement between the Company and Executive
covering the Plan Options.

     

    3.4       Expenses. 

     

    (a) The
Company will reimburse Executive for all reasonable travel, entertainment and
other expenses incurred or paid by Executive in connection with, or related to,
the performance of his duties under this Agreement in accordance with the Travel
and Expense Policy published by the Company's Finance Department for senior
executives generally, as amended from time to time.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    3.5      
Stock Purchase. Within 90 days of Executive's first date of employment,
Executive may purchase from the Company up to 120,000 shares of the Company's
common stock at a price of $0.50 per share. These shares will not be subject to
any restrictions other than those applicable under the Securities Act of 1933,
as amended, and the rules and regulations promulgated thereunder.

     

             4.  Employment
Termination. The employment of Executive by the Company under this Agreement
will terminate upon the occurrence of any of the following:

     

    4.1    
  Expiration of Term. At expiration of the Original Term pursuant to
Section 1 above.

     

    4.2      
Cause. At the election of the Company, for "cause" as defined below, immediately
upon written notice by the Company to Executive, except as provided below.
"Cause" for termination is deemed to exist by reason of (a) any action by
Executive resulting in the conviction of Executive of, or the entry of a plea of
guilty or nolo contendere by Executive to, any crime involving moral turpitude,
any felony, or any misdemeanor involving misconduct or fraud in business
activities, (b) any breach of a fiduciary duty to the Company involving personal
profit, (c) Executive's willful misconduct, or recklessness or gross negligence
in the performance of his duties under this Agreement, or (d) repeated refusals
by Executive to comply with the reasonable  directives of the Chief
Executive Officer of the Company or the Board that are
consistent  with his position; provided, however, that the Company may
terminate Executive's  employment under Sections 4.2 (d) or (e) above
only after Executive fails  to commence and continue to correct or
cure each specific instance comprising cause within 10 days of receipt by
Executive of written notice of the Board identifying each instance constituting
cause or  to correct or cure each identified instance within 45 days
of receipt of such notice.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

       

    

    4.3       Without
Cause. At the election of the Company, at any time, upon 60 days written notice
for any reason whatsoever other than for cause.

     

    4.4       Death
or Disability. Upon Executive's death or 30 days after Executive's disability.
"Disability" means the inability of Executive, due to a physical or mental
disability, to perform the duties contemplated under this Agreement for a period
of 180 consecutive days. A physician satisfactory to Executive and the Company
will determine if Executive is disabled. If Executive and the Company cannot
agree on a physician within 30 days of either party's written notice to the
other, Executive and the Company will each select a physician, who will together
select a third physician. The determination of the physician(s) as to disability
will be binding on all parties.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

       

    

                      4.5         Termination
by Executive. At the election of Executive: (a) at any time if his health should
become impaired to an extent that makes the continued performance of his duties
under this Agreement hazardous to his physical or mental health or his life, as
certified by a physician designated by Executive and reasonably acceptable to
the Company; (b) for "good reason" upon delivery of written notice of such "good
reason" to the Company; or (c) upon 60 days written notice of termination. "Good
reason" means:

    (1) the
failure by the Company to continue Executive in the position of Chief Technology
Officer of the Company (or such other senior executive position as may be
offered by the Company and which Executive may in his sole discretion
accept);

    (2)
material diminution by the Chief Executive Officer of the Company or the Board
of Executive's responsibilities, duties, reporting relationships or authority as
Chief Technology Officer of the Company (or such other senior executive position
as may be offered by the Company and which Executive may in his sole discretion
accept) or assignment to Executive of any duties inconsistent with Executive's
position as Chief Technology Officer of the Company (or such other senior
executive position as may be offered by the Company and which Executive may in
his sole discretion accept);

    (3)
failure by  the Company to pay and provide to Executive the
compensation provided  in Section 3.1 above, which failure is not
cured within 30 days after written notice of  such failure is
delivered by Executive to the Company;

    (4)
requiring Executive to be permanently based anywhere other than within 50 miles
of  his present home in Cliffside Park, NJ (excluding reasonable
business related travel  as required by the Company's
business);

    or (5)
any other material breach of this Agreement by the Company, which breach is
not  cured within 14 days after written notice of such breach is
delivered by Executive to the  Company.

     

    *****************************************

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    IN WITNESS WHEREOF, the
parties have executed this Agreement as of the 29th day of
May, 2009.

    

    
      	
              /s/ Dr. Alexander Gak

            	 
      	 
      
	
              Dr.
      Alexander Gak

            	 
      	 
      
	
              President and
      Chairman

            	 
      	 
      
	 
      	 
      	 
      
	
              /s/ Mr. Eugene Gribov

            	 
      	 
      
	
              Eugene
      Gribov

            	 
      	 
      

    

    

    
      
         

      

      
        7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00161-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00161-of-00352.parquet"}]]