Document:

EXHIBIT 10.1

                         OMNICORDER TECHNOLOGIES, INC.

                             1998 STOCK OPTION PLAN

1. Purposes of the Plan. The purposes of this 1998 Stock Option Plan are to
attract and retain the best available personnel for positions of substantial
responsibility, to provide additional incentive to Employees and Consultants of
the Company and its Subsidiaries and to promote the success of the Company's
business. Options granted under the Plan may be incentive stock options (as
defined under Section 422 of the Code) or non-statutory stock options, as
determined by the Administrator at the time of grant of an option and subject to
the applicable provisions of Section 422 of the Code, as amended, and the
regulations promulgated thereunder.

     2. Definitions. As used herein, the following definitions shall apply:

          (a)  "Administrator" means the Board or any of its Committees
               appointed pursuant to Section 4 of the Plan.

          (b)  "Affiliate" of any Person shall be any other Person which
               controls, is controlled by, or is under common control with, such
               Person. As used herein, "control" shall be the possession,
               directly or indirectly, of the power to direct or cause the
               direction of the management and policies of a Person, whether
               through the ownership of voting securities, by contract, or
               otherwise.

          (c)  "Board" means the Board of Directors of the Company.

          (d)  "Code" means the Internal Revenue Code of 1986, as amended.

          (e)  "Change in Control" means any of the following occurrences:

                (i) any Person (other than the Company, any trustee or other
fiduciary holding securities under an employee benefit plan of the Company or
any company controlled by the Company), is or becomes the "beneficial owner" (as
defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing 30% or more of the combined voting power
of the Company's then outstanding securities; excluding, however, any person
acquiring such beneficial ownership (A) directly from the Company or from an
Affiliate who acquired such beneficial ownership directly from the Company
(including any acquisition resulting from the exercise of a conversion or
exchange privilege in respect of outstanding convertible or exchangeable
securities acquired from the Company or such an Affiliate), and (B) pursuant to
a reorganization, merger or consolidation involving the Company which does not
itself constitute a Change in Control pursuant to subsection (iii) of this
definition;

                (ii) during any period of not more than two consecutive years
(not including any period prior to the adoption of the Plan), individuals who at
the beginning of such period constitute the Board cease for any reason to
constitute at least a majority thereof unless the election, or the nomination
for election, by shareholders of the Company of each new director was approved
or ratified by a vote of at least a majority of the directors then still in

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office who were directors at the beginning of the period or who were new
directors approved by such a vote;

                (iii) the stockholders of the Company approve a merger,
consolidation or reorganization of the Company with any other corporation or
other entity, other than (i) a merger, consolidation or reorganization which
would result in the voting securities of the Company outstanding immediately
prior thereto continuing to represent (either by remaining outstanding or by
being converted into voting securities of the surviving entity) more than 50% of
the combined voting power of the voting securities of the Company or such
surviving entity outstanding immediately after such merger, consolidation or
reorganization, or (ii) a merger, consolidation or reorganization effected to
implement a recapitalization of the Company (or similar transaction) in which no
person, who did not previously own or control such percentage of the Company's
securities, acquires more than 50% of the combined voting power of the Company's
then outstanding securities;

                (iv) the stockholders of the Company approve a plan of complete
liquidation or dissolution of the Company or an agreement for the sale or
disposition by the Company of all or substantially all of the Company's assets.

          (f)  "Committee" means the Committee appointed by the Board of
               Directors in accordance with paragraph (a) of Section 4 of the
               Plan.

          (g)  "Common Stock" means the Common Stock, par value $.01, of the
               Company.

          (h)  "Company means Omnicorder Technologies, Inc., a Delaware
               corporation.

          (i)  "Consultant" means any person, including an advisor, who is
               engaged by the Company or any Parent or Subsidiary to render
               services and is compensated for such services, and any director
               of the Company whether compensated for such services or not.

          (j)  "Continuous Status as an Employee" means the absence of any
               interruption or termination of the employment relationship by the
               Company or any Subsidiary. Continuous Status as an Employee shall
               not be considered interrupted in the case of: (i) sick leave;
               (ii) military leave; (iii) any other leave of absence approved by
               the Board, provided that such leave is for a period of not more
               than ninety (90) days, unless reemployment upon the expiration of
               such leave is guaranteed by contract or statute, or unless
               provided otherwise pursuant to Company policy adopted from time
               to time; or (iv) in the case of transfers between locations of
               the Company or between the Company, its Subsidiaries or its
               successor.

          (k)  "Employee" means any person, including officers and directors,
               employed by the Company or any Parent or Subsidiary of the
               Company. The

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               payment of fees by the Company for a director's services as
               director shall not be sufficient to constitute "employment" by
               the Company.

          (l)  "Exchange Act" means the Securities Exchange Act of 1934, as
               amended.

          (m)  "Fair Market Value" means, as of any date, the value of Common
               Stock determined as follows.

               (i)  If the Common Stock is listed on any established stock
                    exchange or a national market system including without
                    limitation the NASDAQ Stock Market ("Nasdaq") National
                    Market System, its Fair Market Value shall be the closing
                    sales price for such stock (or the closing bid, if no sales
                    were reported, as quoted on such system or exchange, or the
                    exchange with the greatest volume of trading in Common
                    Stock, for the last market trading day prior to the time of
                    determination) as reported in The Wall Street Journal or
                    such other source as the Administrator deems reliable;

               (ii) if the Common Stock is quoted on the Nasdaq Stock Market or
                    regularly quoted by a recognized securities dealer but
                    selling prices are not reported, its Fair Market Value shall
                    be the mean between the high bid and low asked prices for
                    the Common Stock or;

               (iii) In the absence of an established market for the Common
                    Stock, the Fair Market Value thereof shall be determined in
                    good faith by the Administrator.

          (n)  "Incentive Stock Option" means an Option intended to qualify as
               an incentive stock option within the meaning of Section 422 of
               the Code.

          (o)  "Nonstatutory Stock Option" means an Option not intended to
               qualify as an Incentive Stock Option.

          (p)  "Option" means a stock option granted pursuant to the Plan.

          (q)  "Optioned Stock" means the Common Stock subject to an Option.

          (r)  "Optionee" means an Employee or Consultant who receives an
               Option.

          (s)  "Parent" means a "parent corporation", whether now or hereafter
               existing, as defined in Section 424(e) of the Code.

          (t)  "Plan" means this 1998 Stock Option Plan.

          (u)  "Securities Act" means the Securities Act of 1933, as amended.

          (v)  "Share" means a share of the Common Stock, as adjusted in
               accordance with Section 12 of the Plan.

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          (w)  "Stockholders' Agreement" means that certain Stockholders'
               Agreement dated October 31, 1997, as amended, by and among the
               Company and other parties thereto.

          (x)  "Subsidiary" means a "subsidiary corporation", whether now or
               hereafter existing, as defined in Section 424(f) of the Code.

     3. Stock Subject to the Plan. Subject to the provisions of Section 12 of
the Plan, the maximum aggregate number of shares which may be optioned and sold
under the Plan is 400,000 shares of Common Stock. The shares may be authorized,
but unissued, or reacquired Common Stock.

     If an Option should expire or become unexercisable for any reason without
having been exercised in full, the unpurchased Shares which were subject thereto
shall, unless the Plan shall have been terminated, become available for future
grant under the Plan.

     4. Administration of the Plan.

          (a) The Plan shall be administered by (i) the Board if the Board may
administer the Plan in compliance with paragraph (d) of Rule 16b-3 promulgated
under the Exchange Act ("Rule 16b-3") or any successor thereto, or (ii) a
Committee designated by the Board to administer the Plan, which Committee shall
be constituted in such a manner as to permit the Plan to comply with paragraph
(d) of Rule 16b-3. Once appointed, such Committee shall continue to serve in its
designated capacity until otherwise directed by the Board. From time to time the
Board may increase the size of the Committee and appoint additional members
thereof, remove members (with or without cause) and appoint new members in
substitution therefor, fill vacancies, however caused, and remove all members of
the Committee and thereafter directly administer the Plan, all to the extent
permitted by paragraph (d) of Rule 16b-3.

          (b) Powers of the Administrator. Subject to the provisions of the Plan
and in the case of a Committee, the specific duties delegated by the Board to
such Committee, the Administrator shall have the authority, in its discretion:

               (i) to determine the Fair Market Value of the Common Stock, in
accordance with Section 2(k) of the Plan;

               (ii) to select the Consultants and Employees to whom Options may
from time to time be granted hereunder;

               (iii) to determine whether and to what extent Options are granted
hereunder;

               (iv) to determine the number of shares of Common Stock to be
covered by each such award granted hereunder;

               (v) to approve forms of agreement for use under the Plan
(hereinafter "Option Agreement");

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               (vi) to determine the terms and conditions, not inconsistent with
the terms of the Plan, of any award granted hereunder;

               (vii) to determine whether and under what circumstances an Option
may be settled in cash under subsection 9(f) instead of Common Stock; and

               (viii) to reduce the exercise price of any Option to the then
current Fair Market Value if the Fair Market Value of the Common Stock covered
by such Option shall have declined since the date the Option was granted.

          (c) Effect of Administrator's Decision. All decisions, determinations
and interpretations of the Administrator shall be final and binding on all
Optionees and any other holders of any Options.

     5. Eligibility.

          (a) Nonstatutory Stock Options may be granted to Employees and
Consultants. Incentive Stock Options may be granted only to Employees. An
Employee or Consultant who has been granted an Option may, if he is otherwise
eligible, be granted an additional Option or Options (Nonstatutory Stock Options
and/or Incentive Stock Options).

          (b) Each Option shall be designated in the written Option Agreement as
either an Incentive Stock Option or a Nonstatutory Stock Option. However,
notwithstanding such designations, to the extent that the aggregate Fair Market
Value of the Shares with respect to which Options designated as Incentive Stock
Options are exercisable for the first time by any Optionee during any calendar
year (under all plans of the Company or any Parent or Subsidiary) exceeds
$100,000, such excess Options shall be treated as Nonstatutory Stock Options.

          (c) For purposes of Section 5(b), Incentive Stock Options shall be
taken into account in the order in which they were granted, and the Fair Market
Value of the Shares shall be determined as of the time the Option with respect
to such Shares is granted.

          (d) The Plan shall not confer upon any Optionee any right with respect
to continuation of employment or consulting relationship with the Company, nor
shall it interfere in any way with his right or the Company's right to terminate
his employment or consulting relationship at any time, with or without cause.

     6. Term of Plan. The Plan shall become effective upon its adoption by the
Board of Directors, subject to its approval by the shareholders of the Company
within 12 months of such adoption. It shall continue in effect for a term of ten
(10) years unless sooner terminated under Section 14 of the Plan.

     7. Term of Option. The term of each Option shall be the term stated in the
Option Agreement; provided, however that the term shall be no more than ten (10)
years from the date of grant thereof or such shorter term as may be provided in
the Option Agreement. However, in the case of an Incentive Stock Option granted
to an Optionee who, at the time the Option is granted, owns stock representing
more than ten percent (10%) of the voting power of all classes of stock of the
Company or any Parent or Subsidiary, the term of the Option shall be five (5)

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years from the date of grant thereof or such shorter term as may be provided in
the Option Agreement;

     8. Option Exercise Price and Consideration.

          (a) The per share exercise price for the Shares to be issued pursuant
to exercise of an Option shall be such price as is determined by the
Administrator but, in the case of an Incentive Stock Option, shall be subject to
the following:

               (i) if the Incentive Stock Option is granted to an Employee who,
at the time of the grant of such Incentive Stock Option, owns stock representing
more than ten percent (10%) of the voting power of all classes of stock of the
Company or any Parent or Subsidiary, the per Share exercise price shall be no
less than 110% of the Fair Market Value per Share on the date of grant; and

               (ii) if the Incentive Stock Option is granted to any other
Employee, the per Share exercise price shall be no less than 100% of the Fair
Market Value per Share on the date of grant.

          (b) The consideration to be paid for the Shares to be issued upon
exercise of an Option, including the method of payment, shall be determined by
the Administrator (and, in the case of an Incentive Stock Option, shall be
determined at the time of grant) and may consist entirely of (1) cash, (2)
check, (3) promissory note, (4) other Shares which (x) in the case of Shares
acquired upon exercise of an Option, have been owned by the Optionee for more
than six months on the date of surrender, and (y), have a Fair Market Value
(alone or in combination with other permissible forms of payment set forth
herein) on the date of surrender equal to the aggregate exercise price of the
Shares as to which said Option shall be exercised, (5) at the discretion of the
Administrator, by authorization to the Company to retain from the total number
of Shares as to which the Option is exercised that number of Shares having a
Fair Market Value on the date of exercise equal to the exercise price for the
total number of Shares as to which the Option is exercised, (6) delivery of a
properly executed exercise notice together with such other documentation as the
Administrator and the broker, if applicable, shall require to effect an exercise
of the Option and delivery to the Company of the sale or loan proceeds required
to pay the exercise price, (7) by delivering an irrevocable subscription
agreement for the Shares which irrevocably obligates the option holder to take
and pay for the Shares not more than twelve months after the date of delivery of
the subscription agreement, (8) any combination of the foregoing methods of
payment, or (9) such other consideration and method of payment for the issuance
of Shares to the extent permitted under applicable laws, if provided for in the
instrument granting said Option or in the discretion of the Administrator. In
making its determination as to the type of consideration to accept, the
Administrator shall consider if acceptance of such consideration may be
reasonably expected to benefit the Company.

     9. Exercise of Option.

          (a) Procedure for Exercise; Rights as a Shareholder. Any Option
granted hereunder shall be exercisable at such times and under such conditions
as determined by the

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Administrator, including performance criteria with respect to the Company and/or
the Optionee, and as shall be permissible under the terms of the Plan.

     An Option may not be exercised for a fraction of a Share.

     An Option shall be deemed to be exercised when written notice of such
exercise has been given to the Company in accordance with the terms of the
Option by the person entitled to exercise the Option and full payment for the
Shares with respect to which the Option is exercised has been received by the
Company. Full payment may, as authorized by the Administrator, consist of any
consideration and method of payment allowable under Section 8(b) of the Plan.

     Until the stock certificate evidencing such Shares is issued (as evidenced
by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), no right to vote or receive dividends or any
other rights as a shareholder shall exist with respect to the Optioned Stock,
notwithstanding the exercise of the Option. The Company shall issue (or cause to
be issued) such stock certificate promptly after the Option is exercised. No
adjustment will be made for a dividend or other right for which the record date
is prior to the date the stock certificate is issued, except as provided in
Section 12 of the Plan.

     Exercise of an Option in any manner shall result in a decrease in the
number of Shares which thereafter may be available, both for purposes of the
Plan and for sale under the Option, by the number of Shares as to which the
Option is exercised.

          (b) Termination of Employment. In the event of termination of an
Optionee's consulting relationship or Continuous Status as an Employee with the
Company (as the case may be), (i) if such Optionee is an Employee, such Optionee
may, but only within a period of not less than thirty (30) days (or such longer
period of time as is determined by the Administrator, which, in the case of an
Incentive Stock Option shall not exceed three (3) months) after the date of such
termination, or (ii) if such Optionee is a Consultant, such Optionee may, at any
time thereafter, unless a shorter period of time (no less than 30 days) is
determined by the Administrator (but in each case in no event later than the
expiration date of the term of such Option as set forth in the Option
Agreement), exercise his Option to the extent that Optionee was entitled to
exercise it at the date of such termination. To the extent that Optionee was not
entitled to exercise the Option at the date of such termination, or if Optionee
does not exercise such Option to the extent so entitled within the time
specified herein, the Option shall terminate.

          (c) Disability of Optionee. Notwithstanding the provisions of Section
9(b) above, in the event of termination of an Optionee's consulting relationship
or Continuous Status as an Employee as a result of his or her disability (as
defined in Section 22(c)(3) of the Code), (i) if such Optionee is an Employee,
Optionee may, but only within twelve (12) months from the date of such
termination, or (ii) if such Optionee is a Consultant, Optionee may, at any time
thereafter, unless a shorter period of time (no less than 30 days) is determined
by the Administrator (but in each case in no event later than the expiration
date of the term of such Option as set forth in the Option Agreement), exercise
the Option to the extent otherwise entitled to exercise it at the date of such
termination. To the extent that Optionee was not entitled to exercise the Option
at the date of termination, or if Optionee does not exercise such Option to the
extent so entitled within the time specified herein, the Option shall terminate.

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          (d) Death of Optionee. In the event of the death of an Optionee, the
Option may be exercised, (i) if Optionee is an Employee, at any time within
twelve (12) months following the date of death, or (ii) if Optionee is a
Consultant, at any time following the date of death, unless a shorter period of
time is determined by the Administrator (but in each case in no event later than
the expiration date of the term of such Option as set forth in the Option
Agreement), by the Optionee's estate or by a person who acquired the right to
exercise the Option by bequest or inheritance, but only to the extent the
Optionee was entitled to exercise the Option at the date of death. To the extent
that Optionee was not entitled to exercise the Option at the date of
termination, or if Optionee does not exercise such Option to the extent so
entitled within the time specified herein, the Option shall terminate.

          (e) Rule 16b-3 Options granted to persons subject to Section 16(b) of
the Exchange Act must comply with Rule 16b-3 and shall contain such additional
conditions or restrictions as may be required thereunder to qualify for the
maximum exemption from Section 16 of the Exchange Act with respect to Plan
transactions.

          (f) Buyout Provisions. The Administrator may at any time offer to buy
out for a payment in cash or Shares, an Option previously granted, based on such
terms and conditions as the Administrator shall establish and communicate to the
Optionee at the time that such offer is made.

     10. Non-Transferability of Options. The Options may not be sold, pledged,
assigned, hypothecated, transferred, or disposed of in any manner other than by
will or by the laws of descent or distribution, and may be exercised, during the
lifetime of the Optionee, only by the Optionee or, in the case of a Nonstatutory
Stock Option, as may be otherwise permitted by the Administrator.

     11. Stock Withholding to Satisfy Withholding Tax Obligations. At the
discretion of the Administrator, Optionees may be required to satisfy
withholding obligations as provided in this paragraph. When an Optionee incurs
tax liability in connection with an Option, which tax liability is subject to
tax withholding under applicable tax laws, and the Optionee is obligated to pay
the Company an amount required to be withheld under applicable tax laws, the
Optionee may satisfy the withholding tax obligation by one or some combination
of the following methods: (i) by cash payment, or (ii) out of Optionee's current
compensation, or (iii) if permitted by the Administrator, in its discretion, by
surrendering to the Company Shares which (a) in the case of Shares previously
acquired from the Company, have been owned by the Optionee for more than six
months on the date of surrender, and (b) have a Fair Market Value on the date of
surrender equal to or less than Optionee's marginal tax rate times the ordinary
income recognized, or (iv) by electing to have the Company withhold from the
Shares to be issued upon exercise of the Option that number of Shares having a
Fair Market Value equal to the amount required to be withheld. For this purpose,
the Fair Market Value of the Shares to be withheld shall be determined on the
date that the amount of tax to be withheld is to be determined (the "Tax Date").

     If the Optionee is subject to Section 16 of the Exchange Act (an
"Insider"), any surrender of previously owned Shares to satisfy tax withholding
obligations arising upon exercise of this Option must comply with the applicable
provisions of Rule 16b-3 and shall be subject to such

<PAGE>

additional conditions or restrictions as may be required thereunder to qualify
for the maximum exemption from Section 16 of the Exchange Act with respect to
Plan transactions.

     All elections by an Optionee to have Shares withheld to satisfy tax
withholding obligations shall be made in writing in a form acceptable to the
Administrator and shall be subject to the following restrictions:

          (a) the election must be made on or prior to the applicable Tax Date;

          (b) once made, the election shall be irrevocable as to the particular
Shares of the Option as to which the election is made;

          (c) all elections shall be subject to the consent or disapproval of
the Administrator; and

          (d) if the Optionee is an Insider, the election must comply with the
applicable provisions of Rule 16b-3 and shall be subject to such additional
conditions or restrictions as may be required thereunder to qualify for the
maximum exemption from Section 16 of the Exchange Act with respect to Plan
transactions. In the event the election to have Shares withheld is made by an
Optionee and the Tax Date is deferred under Section 83 of the Code because no
election is filed under Section 83(b) of the Code, the Optionee shall receive
the full number of Shares with respect to which the Option is exercised but such
Optionee shall be unconditionally obligated to tender back to the Company the
proper number of Shares on the Tax Date.

     12. Adjustments Upon Changes in Capitalization, Liquidation, Change in
Control or Merger.

          (a) Changes in Capitalization. Subject to any required action by the
shareholders of the Company, the number of shares of Common Stock covered by
each outstanding Option, and the number of shares of Common Stock which have
been authorized for issuance under the Plan but as to which no Options have yet
been granted or which have been returned to the Plan upon cancellation or
expiration of an Option, as well as the price per share of Common Stock covered
by each such outstanding Option, shall be proportionately adjusted for any
increase or decrease in the number of issued shares of Common Stock resulting
from a stock split, reverse stock split, stock dividend or reclassification of
the Common Stock. Such adjustment shall be made by the Administrator whose
determination in that respect shall be final, binding and conclusive. Except as
expressly provided herein, no issuance by the Company of shares of stock of any
class, or securities convertible into shares of stock of any class, shall
affect, and no adjustment by reason thereof shall be made with respect to, the
number or price of shares of Common Stock subject to an Option.

          (b) Change in Control. In the event of a Change in Control,
notwithstanding any vesting schedule provided for by the Administrator with
respect to an Option, each Option which has been granted at least six months
prior to the Change in Control shall become immediately exercisable with respect
to 100% of the Shares subject to the Option. In the case of a Change in Control
with respect to a Merger (as defined below in subparagraph (d)), the immediate
exercisability of the Option shall be deemed to occur upon the approval by the
stockholders (as

<PAGE>

specified in 2(e)(iii) above); but if the transaction does not close, the
accelerated vesting provided herein shall not be effective.

          (c) Dissolution or Liquidation. In the event of the proposed
dissolution or liquidation of the Company which does not involve a Change of
Control, the Administrator shall notify the Optionee at least fifteen (15) days
prior to such proposed action. To the extent it has not been previously
exercised, the Option will terminate immediately prior to the consummation of
such proposed action.

          (d) Merger. In the event of a merger consolidation or reorganization
of the Company constituting a Change of Control (as defined in Section 2(e)(iii)
(a "Merger"), and if the Option is not assumed or substituted by the surviving
or successor corporation, the Option, to the extent it has not been previously
exercised, shall terminate as of the date of the closing of the Merger, and the
Optionee shall have no claim against the Company, its officers or directors, the
successor corporation or its officers or directors. For the purposes of this
paragraph, the Option shall be considered assumed or substituted if, following
the Merger, the survivor or successor corporation explicitly confers on the
Optionee, the continued right to purchase, for each Share of Optioned Stock
subject to the Option immediately prior to the Merger, the consideration
(whether stock, cash, or other securities or property) received in the Merger by
holders of Common Stock for each Share held on the effective date of the
transaction (and if holders were offered a choice of consideration, the type of
consideration chosen by the holders of a majority of the outstanding Shares);
provided, however, that if such consideration received in the Merger was not
solely common stock of the survivor or successor corporation or its Parent, the
Administrator may, with the consent of the survivor or successor corporation and
the other participant(s) in the Merger, provide for the consideration to be
received upon the exercise of the Option, for each Share of Optioned Stock
subject to the Option, to be solely common stock of the survivor or successor
corporation or its Parent equal in fair market value to the per share
consideration received by holders of Common Stock in the Merger; provided,
further, that if no additional consideration is received by holders of Common
Stock in the Merger (such as in the case where the Company is the survivor, but
a Change of Control, by virtue of additional stock of the Company being issued
in the Merger, has nonetheless occurred), the Option shall be considered assumed
if the survivor or successor corporation agrees to explicitly confer on the
Optionee, the right to continue to exercise the Option after the Merger, in
accordance with its terms. In the case of a merger, consolidation or
reorganization not constituting a Change of Control, the Option will be
exercisable for the same number and type securities as would have been received
by the Optionee had he owned the number of shares subject to the Option prior to
the merger, consolidation or reorganization; provided, however, that the Option
will not become exercisable for any Optioned Stock subject to a vesting schedule
until such vesting has occurred.

     13. Time of Granting Options. The date of grant of an Option shall, for all
purposes, be the date on which the Administrator makes the determination
granting such Option, or such other date as is determined by the Administrator.
Notice of the determination shall be given to each Employee or Consultant to
whom an Option is so granted within a reasonable time after the date of such
grant.

     14. Amendment and Termination of the Plan.

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          (a) Amendment and Termination. The Board may at any time amend, alter,
suspend or discontinue the Plan, but no amendment, alteration, suspension or
discontinuation shall be made which would impair the rights of any Optionee
under any grant theretofore made, without his or her consent.

          (b) Effect of Amendment or Termination. Any such amendment or
termination of the Plan shall not affect Options already granted and such
Options shall remain in full force and effect as if this Plan had not been
amended or terminated, unless mutually agreed otherwise between the Optionee and
the Administrator, which agreement must be in writing and signed by the Optionee
and the Company.

     15. Conditions Upon Issuance of Shares. Shares shall not be issued pursuant
to the exercise of an Option unless the exercise of such Option and the issuance
and delivery of such Shares pursuant thereto shall comply with all relevant
provisions of law, including, without limitation, the Securities Act, the
Exchange Act, the rules and regulations promulgated thereunder, and the
requirements of any stock exchange upon which the Shares may then be listed and
shall be further subject to the approval of counsel for the Company with respect
to such compliance.

     As a condition to the exercise of an Option, the Company may require the
person exercising such Option to represent and warrant at the time of any such
exercise that the Shares are being purchased only for investment and without any
present intention to sell or distribute such Shares if, in the opinion of
counsel for the Company, such a representation is necessary or required by any
of the aforementioned relevant provisions of law.

     The inability of the Company to obtain authority from any regulatory body
having jurisdiction, which authority is deemed by the Company's counsel to be
necessary to the lawful issuance and sale of any Shares hereunder, shall relieve
the Company of any liability in respect of the failure to issue or sell such
Shares as to which such requisite authority shall not have been obtained.

     If an Option is exercised prior to the Company's initial public offering,
the Company may require that the Optionee execute a counterpart copy of the
Stockholders' Agreement and/or any other agreement among the stockholders of the
Company.

     16. Reservation of Shares. The Company, during the term of this Plan, will
at all times reserve and keep available such number of Shares as shall be
sufficient to satisfy the requirements of the Plan.

                                 * * * * * * * *

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                          OMNICORDER TECHNOLOGIES, INC.
                             1998 STOCK OPTION PLAN
                          NOTICE OF STOCK OPTION GRANT

Optionee's Name and Address:

     You have been granted an option to purchase Common Stock of Omnicorder
Technologies, Inc. (the "Company") as follows:

     Grant Number

     Date of Grant

     Vesting Commencement Date

     Option Price Per Share

     Total Number of Shares Granted (TOTAL SHARES)

     Total Price of Shares Granted (TOTAL PRICE)

     Type of Option:         Incentive Stock Option

                                    Nonstatutory Stock Option ____

     Term/Expiration Date:

     Vesting Schedule:

     Termination Period:

     Option may be exercised for 3 months after termination of employment or, if
you are a Consultant or a director, at any time after termination of consulting
or director relationship, unless a shorter period after termination is specified
below your signature below, except as set out in Sections 7 and 8 of the Stock
Option Agreement (but in no event later than the Expiration Date).

     By your signature and the signature of the Company's representative below,
you and the Company agree that this option is granted under and governed by the
terms and conditions of the 1998 Stock Option Plan and the Stock Option
Agreement, all of which are attached and made a part of this document.

<PAGE>

     As a condition of this grant, Optionee, at the request of the
Administrator, must execute that certain Stockholders' Agreement dated October
31, 1997, as amended on July 20, 1998, by and among the Company and holders
thereto.

OPTIONEE:                            OMNICORDER TECHNOLOGIES, INC.

                                     By:
-----------------------                 ----------------------------------------
Signature

                                     Title:
-----------------------                    -------------------------------------

<PAGE>

                          OMNICORDER TECHNOLOGIES, INC.
                  1998 STOCK OPTION PLAN STOCK OPTION AGREEMENT

     1. Grant of Option. Omnicorder Technologies, Inc., a Delaware corporation
(the "Company"), hereby grants to the Optionee named in the Notice of Grant (the
"Optionee"), an option (the "Option") to purchase a total number of shares of
Common Stock (the "Shares") set forth in the Notice of Grant, at the exercise
price per share set forth in the Notice of Grant (the "Exercise Price") subject
to the terms, definitions and provisions of Omnicorder Technologies, Inc. 1998
Stock Option Plan (the "Plan") adopted by the Company, which is incorporated
herein by reference. Unless otherwise defined herein, the terms defined in the
Plan shall have the same defined meanings in this Option.

If designated an Incentive Stock Option, this Option is intended to qualify as
an Incentive Stock Option as defined in Section 422 of the Code.

     2. Exercise of Option. This Option shall be exercisable during its term in
accordance with the Exercise Schedule set out in the Notice of Grant and with
the provisions of Section 5 hereof and Section 9 of the Plan as follows:

          (i) Right to Exercise.

                (a) This Option may not be exercised for a fraction of a share.

                (b) In the event of Optionee's death, disability or other
termination of employment, the exercisability of the Option is governed by
Sections 6, 7 and 8 below, subject to the limitation contained in subsection
2(i)(c).

                (c) In no event may this Option be exercised after the date of
expiration of the term of this Option as set forth in the Notice of Grant.

          (ii) Method of Exercise. This Option shall be exercisable by written
notice (in the form attached as Exhibit A) which shall state the election to
exercise the Option, the number of Shares in respect of which the Option is
being exercised, and such other representations and agreements as to the
holder's investment intent with respect to such shares of Common Stock as may be
required by the Company pursuant to the provisions of the Plan. Such written
notice shall be signed by the Optionee and shall be delivered in person or by
certified mail to the Secretary of the Company. The written notice shall be
accompanied by payment of the Exercise Price. This Option shall be deemed to be
exercised upon receipt by the Company of such written notice accompanied by the
Exercise Price.

     No Shares will be issued pursuant to the exercise of an Option unless such
issuance and such exercise shall comply with all relevant provisions of law and
the requirements of any stock exchange upon which the Shares may then be listed.
Assuming such compliance, for income tax purposes the Shares shall be considered
transferred to the Optionee on the date on which the Option is exercised with
respect to such Shares.

<PAGE>

     3. Optionee's Representations. In the event the Shares purchasable pursuant
to the exercise of this Option have not been registered under the Securities Act
of 1933, as amended, at the time this Option is exercised, Optionee shall, if
required by the Company, concurrently with the exercise of all or any portion of
this Option, deliver to the Company a separate investment representation
statement.

     4. Method of Payment. Payment of the Exercise Price shall be by any of the
following, or a combination thereof, at the election of the Optionee:.

          (i) cash;

          (ii) check;

          (iii) surrender of other shares of Common Stock of the Company which
(A) in the case of Shares acquired pursuant to the exercise of a Company option,
have been owned by the Optionee for more than six (6) months on the date of
surrender, and (B) have a Fair Market Value on the date of surrender equal to
the Exercise Price of the Shares as to which the Option is being exercised; or

          (iv) delivery of a properly executed exercise notice together with
such other documentation as the Administrator and the broker, if applicable,
shall require to effect an exercise of the Option and delivery to the Company of
the sale or loan proceeds required to pay the Exercise Price.

          (v) such other forms of payment permitted under the Plan but only if
the Administrator consents thereto, which consent may be withheld by the
Administrator in its sole discretion.

     5. Restrictions on Exercise. This Option may not be exercised until such
time as the Plan has been approved by the shareholders of the Company, or if the
issuance of such Shares upon such exercise or the method of payment of
consideration for such shares would constitute a violation of any applicable
federal or state securities or other law or regulation, including any rule under
Part 207 of Title 12 of the Code of Federal Regulations ("Regulation G") as
promulgated by the Federal Reserve Board. As a condition to the exercise of this
Option, the Company may require Optionee to make any representation and warranty
to the Company as may be required by any applicable law or regulation.

     6. Termination of Relationship. In the event of termination of Optionee's
consulting relationship or Continuous Status as an Employee, Optionee may, to
the extent otherwise so entitled at the date of such termination (the
"Termination Date"), exercise this Option during the Termination Period set out
in the Notice of Grant. To the extent that Optionee was not entitled to exercise
this Option at the Termination Date, or if Optionee does not exercise this
Option within the time specified herein, the Option shall terminate.

     7. Disability of Optionee. Notwithstanding the provisions of Section 6
above, in the event of termination of Optionee's consulting relationship or
Continuous Status as an Employee as a result of his or her disability (as
defined in Section 22(e)(3) of the Code), (i) if Optionee is an Employee,
Optionee may, but only within twelve (12) months from the date of termination of

<PAGE>

employment, or (ii) if Optionee is a Consultant, Optionee may, at any time after
the date of termination of the consulting relationship, or within such other
period of time as determined by the Administrator (but in each case in no event
later than the date of expiration of the term of this Option as set forth in
Section 10 below), exercise the Option to the extent otherwise so entitled at
the date of such termination. To the extent that Optionee was not entitled to
exercise the Option at the date of termination, or if Optionee does not exercise
such Option (to the extent otherwise so entitled) within the time specified
herein, the Option shall terminate.

     8. Death of Optionee. In the event of the death of Optionee, the Option may
be exercised, (i) if Optionee is an Employee, at any time within twelve (12)
months following the date of death, or (ii) if Optionee is a Consultant, at any
time following the date of death, or within such other period of time as
determined by the Administrator (but in no event later than the date of
expiration of the term of this Option as set forth in Section 10 below), by
Optionee's estate or by a person who acquired the right to exercise the Option
by bequest or inheritance but only to the extent the Optionee could exercise the
Option at the date of death.

     9. Non-Transferability of Option. This Option may not be transferred in any
manner otherwise than by will or by the laws of descent or distribution, and may
be exercised during the lifetime of Optionee only by him, or in the case of a
Nonstatutory Stock Option, as may be otherwise permitted by the Administrator.
The terms of this Option shall be binding upon the executors, administrators,
heirs, successors and assigns of the Optionee.

     10. Term of Option. This Option may be exercised only within the term set
out in the Notice of Grant, and may be exercised during such term only in
accordance with the Plan and the terms of this Option. The limitations set out
in Section 7 of the Plan regarding Options designated as Incentive Stock Options
and Options granted to more than ten percent (10%) shareholders shall apply to
this Option.

     11. Taxation Upon Exercise of Option. Optionee understands that, upon
exercising a Nonstatutory Stock Option, he or she will recognize income for tax
purposes in an amount equal to the excess of the then fair market value of the
Shares over the exercise price. If the Optionee is an employee, the Company will
be required to withhold from Optionee's compensation, or collect from Optionee
and pay to the applicable taxing authorities an amount equal to a percentage of
this compensation income. Additionally, the Optionee may at some point be
required to satisfy tax withholding obligations with respect to the
disqualifying disposition of an Incentive Stock Option. The Optionee shall
satisfy his or her tax withholding obligation arising upon the exercise of this
Option by one or some combination of the following methods: (i) by cash payment,
or (ii) out of Optionees current compensation, or (iii) if permitted by the
Administrator, in its discretion, by surrendering to the Company Shares which
(a) in the case of Shares previously acquired from the Company, have been owned
by the Optionee for more than six months on the date of surrender and (b) have a
Fair Market Value on the date of surrender equal to or less than Optionees
marginal tax rate times the ordinary income recognized, or (iv) in the
discretion of the Administrator, by electing to have the Company withhold from
the Shares to be issued upon exercise of the Option that number of Shares having
a Fair Market Value equal to the amount required to be withheld. For this
purpose, the Fair Market Value of the Shares to be withheld shall be determined
on the date that the amount of tax to be withheld is to be determined (the "Tax
Date").

<PAGE>

     If the Optionee is subject to Section 16 of the Exchange Act (an
"Insider"), any surrender of previously owned Shares to satisfy tax withholding
obligations arising upon exercise of this Option must comply with the applicable
provisions of Rule 16b-3 promulgated under the Exchange Act ("Rule 16b-3") and
shall be subject to such additional conditions or restrictions as may be
required thereunder to qualify for the maximum exemption from Section 16 of the
Exchange Act with respect to Plan transactions.

     All elections by an Optionee to have Shares withheld to satisfy tax
withholding obligations shall be made in writing in a form acceptable to the
Administrator and shall be subject to the following restrictions:

          (i) the election must be made on or prior to the applicable Tax Date;

          (ii) once made, the election shall be irrevocable as to the particular
Shares of the Option as to which the election is made;

          (iii) all elections shall be subject to the consent or disapproval of
the Administrator; and

          (iv) if the Optionee is an Insider, the election must comply with the
applicable provisions of Rule 16b-3 and shall be subject to such additional
conditions or restrictions as may be required thereunder to qualify for the
maximum exemption from Section 16 of the Exchange Act with respect to Plan
transactions.

     12. Tax Consequences. Set forth below is a brief summary as of the date of
this Option of some of the federal tax consequences of exercise of this Option
and disposition of the Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE
TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. OPTIONEE SHOULD CONSULT A TAX
ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE SHARES.

          (i) Exercise of ISO. If this Option qualifies as an Incentive Stock
Option, there will be no regular federal income tax liability upon the exercise
of the Option, although the excess, if any, of the fair market value of the
Shares on the date of exercise over the Exercise Price will be treated as an
adjustment to the alternative minimum tax for federal tax purposes and may
subject the Optionee to the alternative minimum tax in the year of exercise.

          (ii) Exercise of Nonstatutory Stock Option. If this Option does not
qualify as an Incentive Stock Option, there may be a regular federal income tax
liability upon the exercise of the Option. The Optionee will be treated as
having received compensation income (taxable at ordinary income tax rates) equal
to the excess, if any, of the fair market value of the Shares on the date of
exercise over the Exercise Price. If Optionee is an employee, the Company will
be required to withhold from Optionee's compensation or collect from Optionee
and pay to the applicable taxing authorities an amount equal to a percentage of
this compensation income at the time of exercise.

          (iii) Disposition of Shares. In the case of a Nonstatutory Stock
Option, if Shares are held for at least one year after exercise, any gain
realized on disposition of the Shares will be treated as long-term capital gain
for federal income tax purposes. In the case of an Incentive

<PAGE>

Stock Option, if Shares are held for at least one year after exercise and are
disposed of at least two years after the Date of Grant, any gain realized on
disposition of the Shares will also be treated as long-term capital gain for
federal income tax purposes. In both cases, if Shares are held for at least 18
months, more favorable tax rates may apply. If Shares purchased under an
Incentive Stock Option are disposed of within such one-year period or within two
years after the Date of Grant, any gain realized on such disposition will be
treated as compensation income (taxable at ordinary income rates) to the extent
of the excess, if any, of the fair market value of the Shares on the date of
exercise over the Exercise Price.

          (iv) Notice of Disqualifying Disposition of ISO Shares. If the Option
granted to Optionee herein is an Incentive Stock Option, and if Optionee sells
or otherwise disposes of any of the Shares acquired pursuant to the Incentive
Stock Option on or before the later of(1) the date two years after the Date of
Grant, or (2) the date one year after the date of exercise, the Optionee shall
immediately notify the Company in writing of such disposition. Optionee agrees
that Optionee may be subject to income tax withholding by the Company on the
compensation income recognized by the Optionee from the early disposition by
payment in cash or out of the compensation paid to the Optionee.

     13. "Vesting". [RESERVED]

                                     OMNICORDER TECHNOLOGIES, INC.

                                     By:
                                        ----------------------------------------

<PAGE>

     OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE
OPTION HEREOF IS EARNED ONLY BY CONTINUING CONSULTANCY OR EMPLOYMENT AT THE WILL
OF THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR
ACQUIRING SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT
NOTHING IN THIS AGREEMENT, NOR IN THE COMPANY'S STOCK OPTION PLAN WHICH IS
INCORPORATED HEREIN BY REFERENCE, SHALL CONFER UPON OPTIONEE ANY RIGHT WITH
RESPECT TO CONTINUATION OF EMPLOYMENT OR CONSULTANCY BY THE COMPANY, NOR SHALL
IT INTERFERE IN ANY WAY WITH HIS RIGHT OR THE COMPANY'S RIGHT TO TERMINATE HIS
EMPLOYMENT OR CONSULTANCY AT ANY TIME, WITH OR WITHOUT CAUSE.

     Optionee acknowledges receipt of a copy of the Plan and certain information
related thereto and represents that he is familiar with the terms and provisions
thereof and hereby accepts this Option subject to all of the terms and
provisions thereof Optionee has reviewed the Plan and this Option in their
entirety, has had an opportunity to obtain the advice of counsel prior to
executing this Option and fully understands all provisions of the Option.
Optionee hereby agrees to accept as binding, conclusive and final all decisions
or interpretations of the Administrator upon any questions arising under the
Plan.

Dated:
      -----------------              -----------------------------------
                                     Optionee

                                    EXHIBIT A

                             1998 STOCK OPTION PLAN

                                 EXERCISE NOTICE

Omnicorder Technologies, Inc.

     1. Exercise of Option. Effective as of today, ____________ 19__, the
undersigned ("Optionee") hereby elects to exercise Optionee's option to purchase
__________ shares of the Common Stock (the "Shares") of Omnicorder Technologies,
Inc. (the "Company") under and pursuant to the Company's 1998 Stock Option Plan,
as amended (the "Plan") and the [ ] Incentive [ ] Nonstatutory Stock Option
Agreement dated ________ (the "Option Agreement").

     2. Representations of Optionee. Optionee acknowledges that Optionee has
received, read and understood the Plan and the Option Agreement and agrees to
abide by and be bound by their terms and conditions. Optionee represents that
Optionee is purchasing the Shares for Optionee's own account for investment and
not with a view to, or for sale in connection with, a distribution of any of
such Shares.

<PAGE>

     3. Compliance with Securities Laws. Optionee understands and acknowledges
that the Shares have not been registered under the Securities Act of 1933, as
amended (the "1933 Act"), and, notwithstanding any other provision of the Option
Agreement to the contrary, the exercise of any rights to purchase any Shares is
expressly conditioned upon compliance with the 1933 Act, all applicable state
securities laws and all applicable requirements of any stock exchange or over
the counter market on which the Company's Common Stock may be listed or traded
at the time of exercise and transfer. Optionee agrees to cooperate with the
Company to ensure compliance with such laws.

     4. Federal Restrictions on Transfer. Optionee understands that the Shares
have not been registered under the 1933 Act and therefore cannot be resold and
must be held indefinitely unless they are registered under the 1933 Act or
unless an exemption from such registration is available and that the
certificate(s) representing the Shares may bear a legend to that effect.
Optionee understands that the Company is under no obligation to register the
Shares and that an exemption may not be available or may not permit Optionee to
transfer Shares in the amounts or at the times proposed by Optionee.
Specifically, Optionee has been advised that Rule 144 promulgated under the 1933
Act, which permits certain resales of unregistered securities, is not presently
available with respect to the Shares and, in any event requires that the Shares
be paid for and then be held for at least one year (and in some cases two years)
before they may be resold under Rule 144.

     5. Rights as Shareholder. Until the stock certificate evidencing such
Shares is issued (as evidenced by the appropriate entry on the books of the
Company or of a duly authorized transfer agent of the Company), no right to vote
or receive dividends or any other rights as a shareholder shall exist with
respect to the Optioned Stock, notwithstanding the exercise of the Option. The
Company shall issue (or cause to be issued) such stock certificate promptly
after the Option is exercised. No adjustment will be made for a dividend or
other right for which the record date is prior to the date the stock certificate
is issued, except, as provided in Section 12 of the Plan.

     Optionee shall enjoy rights as a shareholder until such time as Optionee
disposes of the Shares.

     6. Tax Consultation. Optionee understands that Optionee may suffer adverse
tax consequences as a result of Optionee's purchase or disposition of the
Shares. Optionee represents that Optionee has consulted with any tax consultants
Optionee deems advisable in connection with the purchase or disposition of the
Shares and that Optionee is not relying on the Company for any tax advice.

     7. Restrictive Legends and Stock-Transfer Orders.

          (a) Legends. Optionee understands and agrees that the Company shall
cause the legends set forth below or legends substantially equivalent thereto,
to be placed upon any certificate(s) evidencing ownership of the Shares together
with any other legends that may be required by state or federal securities laws:

          THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
     SECURITIES ACT OF 1933 (THE "ACT") AND MAY NOT BE OFFERED, SOLD OR
     OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED
     UNDER THE ACT OR, IN THE OPINION OF COUNSEL IN FORM AND SUBSTANCE
     SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR
     TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE THEREWITH.

          THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN
     RESTRICTIONS ON TRANSFER AS SET FORTH IN THE EXERCISE NOTICE BETWEEN THE
     ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE
     OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER RESTRICTIONS
     ARE BINDING ON TRANSFEREES OF THESE SHARES.

          (b) Stop-Transfer Notices. Optionee agrees that, in order to ensure
compliance with the restrictions referred to herein, the Company may issue
appropriate stop-transfer instructions to its transfer agent, if any, and that,
if the Company transfers its own securities, it may make appropriate notations
to the same effect in its own records.

          (c) Refusal to Transfer. The Company shall not be required (i) to
transfer on its books any Shares that have been sold or otherwise transferred in
violation of any of the provisions of this Agreement or (ii) to treat as owner
of such Shares or to accord the right to vote or pay dividends to any purchaser
or other transferee to whom such Shares shall have been so transferred.

     8. Market Standoff Agreement. Optionee hereby agrees that if so requested
by the Company or any representative of the underwriters in connection with any
registration of the offering of any securities of the Company under the 1933
Act, Optionee shall not sell or otherwise transfer any Shares or other
securities of the Company during the ___-day period following the effective date
of a registration statement of the Company filed under the 1933 Act; provided,
however, that such restriction shall only apply to the first two registration
statements of the Company to become effective under the 1933 Act which include
securities to be sold on behalf of the Company to the public in an underwritten
public offering under the 1933 Act. The Company may impose stop transfer
instructions with respect to securities subject to the foregoing restrictions
until the end of such ___ day period.

     9. Successors and Assigns. The Company may assign any of its rights under
this Agreement to single or multiple assignees, and this Agreement shall inure
to the benefit of the successors and assigns of the Company. Subject to the
restrictions on transfer herein set forth, this Agreement shall be binding upon
Optionee and his or her heirs, executors, administrators, successors and
assigns.

     10. Interpretation. Any dispute regarding the interpretation of this
Agreement shall be submitted by Optionee or by the Company forthwith to the
Company's Board of Directors or Administrator of the Plan, which shall review
such dispute at its next regular meeting.

<PAGE>

The resolution of such a dispute by the Board or Administrator shall be final
and binding on the Company and on Optionee.

     11. Governing Law; Severability. This Agreement shall be governed by and
construed in accordance with the laws of the State of Delaware excluding that
body of law pertaining to conflicts of law. Should any provision of this
Agreement be determined by a court of law to be illegal or unenforceable, the
other provisions shall nevertheless remain effective and shall remain
enforceable.

     12. Notices. Any notice required or permitted hereunder shall be given in
writing and shall be deemed effectively given upon personal delivery or upon
deposit in the United States mail by certified mail, with postage and fees
prepaid, addressed to the other party at its address as shown below beneath its
signature, or to such other address as such party may designate in writing from
time to time to the other party.

     13. Further Instruments. The parties agree to execute such further
instruments and to take such further action as may be reasonably necessary to
carry out the purposes and intent of this Agreement.

     14. Delivery of Payment. Optionee herewith delivers to the Company the full
Exercise Price for the Shares.

     15. Entire Agreement The Plan and Notice of Grant/Option Agreement are
incorporated herein by reference. This Agreement, the Plan and the Notice of
Grant/Option Agreement constitute the entire agreement of the parties and
supersede in their entirety all prior undertakings and agreements of the Company
and Optionee with respect to the subject matter hereof.

Submitted by:                        Accepted by:

OPTIONEE:                                    OMNICORDER TECHNOLOGIES, INC.

By:
   ----------------------------------

-------------------------------------

    Its:
        -----------------------------

(Signature)

Address                                      Address:

-------------------------------------

-------------------------------------

-------------------------------------EXHIBIT 10.2
                              EMPLOYMENT AGREEMENT

          This EMPLOYMENT AGREEMENT is made and entered into as of this 1st day
of October 2003, 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 MARK A. FAUCI, an individual
residing at 541 South Ocean Avenue, Patchogue, New York 11772 (the "Executive").

                              W I T N E S S E T H:

          WHEREAS, the Company desires to employ the Executive as President and
Chief Executive Officer 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
President and Chief Executive Officer and to perform and to serve the Company on
the terms and conditions hereinafter set forth; and

          WHEREAS, the Company is in the process of completing a reverse
acquisition transaction (the "Reverse Acquisition"), pursuant to which the
Company would sell all of its assets to a publicly-traded company ("Pubco"),
that would continue the medical device business of the Company, and Pubco wishes
to be assured that it will have the continued benefit of the services and advice
of the Executive by the assignment of this Agreement to Pubco effective at the
closing of the Reverse Acquisition.

          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 October 1, 2003 (the "Engagement Date"), and ending five years
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.

<PAGE>

      3. Duties; Authority; Director.

       (a) Duties. During the Employment Term, the Executive shall be employed
as President and Chief Executive Officer of the Company, shall faithfully and
competently perform such duties at such times and places and in such manner as
the Board of Directors of the Company (the "Board") may from time to time
reasonably direct. Except as otherwise may be approved in advance by the Board,
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 President and Chief Executive
Officer, in the operation of the Company's business, subject to the supervision
and authority of the Board.

       (c) Director. The Company shall cause the Executive to be nominated for
election to the Board for so long as the Executive remains the Company's
President and/or Chief Executive Officer.

      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 $180,000 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 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

                                       2
<PAGE>

("Stock Options") to purchase up to 250,000 shares of Pubco's common
stock at an exercise price equal to $1.375 per share, representing the fair
market value of Pubco's common stock at the closing of the Reverse Merger. The
Stock Options shall be exercisable immediately upon grant, and shall be
exercisable over a ten-year period from the date of grant. The Company shall
deliver a stock option agreement to the Executive within 60 days after the
closing of the Reverse Acquisition. The Company undertakes to use its best
efforts to register the shares of Pubco's common stock 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.

       (d) Back Salary. The Company acknowledges that the Executive is owed back
salary ("Back Salary") in the aggregate amount of $622,040 as of September 30,
2003, for prior services rendered to the Company, and that the right to such
Back Salary has not been waived by Executive. The Company agrees to use its best
efforts to make payments to Executive in respect of such Back Salary at such
time or times as it has the available funds to do so. Notwithstanding anything
to the contrary contained in this Agreement, no termination of employment of
Executive pursuant to Sections 6 or 7, for any or no reason, shall impair or
alter the rights of Executive to receive Back Salary through the date of his
termination or cessation of employment.

      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) 30 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) 10 days paid sick leave and 2 paid 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

       (g) An automobile lease or purchase allowance (including insurance) not
to exceed $700.00 per month, with excess mileage charges on a lease, if any, to
be paid separately by the Company.

                                       3
<PAGE>

      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.

       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

                                       4
<PAGE>

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;

       (b) all Back Salary;

       (c) the Executive's Base Salary under this Agreement for the duration of
the Employment Term, or for two years, whichever is greater; and

       (d) benefits to the Executive and/or the Executive's family and
dependents at least equal to those which would have been provided to them in
accordance with all welfare benefit plans that may be provided by the Company
for its key executives for the duration of the Employment Term, or for two
years, whichever is greater.

      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; (iii) all Base
Salary under this Agreement for the duration of the Employment Term or for two
years, whichever is greater, and (iv) a lump sum equal to three times the amount
of bonus, if any, paid to the Executive for the fiscal year preceding the Change
in Control. 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 a period of two years after
the termination of his employment; 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

                                       5
<PAGE>

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 (it being understood that the Reverse Acquisition and related
transactions shall not be considered a triggering event hereunder):

          (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 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

                                       6
<PAGE>

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 therefor, 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.

          (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

                                       7
<PAGE>

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.

          (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

                                       8
<PAGE>

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;

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.

                                       9
<PAGE>

         12. Assignability. (a) 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.

          (b) This Agreement, and all rights and interests hereunder, shall be
assigned to, and assumed by, Pubco at the closing of the Reverse Merger, and
performed by Pubco thereafter as if it were named the "Company" in this
Agreement.

         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 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.

                                       10
<PAGE>

         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 December 31, 1997, 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:
                                        Title:

                                     -------------------------------------------
                                                  MARK A. FAUCI

                                       11
<PAGE>

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