Document:

EXHIBIT 10.2

                              EMPLOYMENT AGREEMENT

This AGREEMENT is made on the 8th day of December, 2005 by and between Quest
Minerals & Mining Corporation, a corporation incorporated under the laws of the
State of Nevada (hereinafter referred to as the "Corporation" or "Quest"), OF
THE FIRST PART,

and

Eugene Chiaramonte, Jr., of the Borough of Frankford, in the State of New
Jersey, (hereinafter referred to as the "Vice President"), OF THE SECOND PART,

WHEREAS the Corporation wishes to retain the services of the Vice President to
provide the services hereinafter described during the term hereinafter set out;

NOW THEREFOR THIS AGREEMENT WITNESSES that in consideration of the mutual
covenants and agreements herein contained and for other good and valuable
consideration, the parties agree as follows:

1.  TERM
1.1 The Corporation shall employ the Vice President for a term of five years
commencing June 1, 2005 unless such employment shall be terminated earlier as
hereinafter provided. Renewal of this Agreement may be made on such terms as the
parties may agree no later than sixty days prior to the fifth anniversary of
this Agreement and in the event there is no mutually acceptable agreement to
renew reduced to writing no later than sixty days prior to the expiry of this
Agreement this Agreement shall be deemed to not have been renewed.

2 DUTIES
2.1 The duties of the Vice President shall be in accordance with the provisions
of Schedule A attached hereto and forming an essential and integral part of this
Agreement.

3 REPORTING PROCEDURES
3.1 The Vice President shall report to the Board of Directors of the Corporation
at the regular meetings of the Board of Directors. The Vice President shall
report fully on the management, operations and business affairs of the
Corporation delegated by the Board to his positions, that include Executive Vice
President, and advise to the best of his ability and in accordance with
reasonable business standards on business matters that may arise from time to
time during the term of this agreement.

4 REMUNERATION
4.1 Cash
During the initial term of this Agreement the remuneration of the Vice President
shall be as follows:
A) For first year of this Agreement the Vice President shall be paid the sum of
ten thousand dollars of lawful currency of the United States of America
(US$10,000) per month.
B) For each of the remaining years of the initial term of this Agreement the
Vice President shall receive An increase of five thousand dollars per month per
year, so that in the second year he shall receive the sum of fifteen thousand
dollars of lawful currency of the United States of America (US$15,000) per
month, in the third year (US$20,000), in the fourth year (US$25,000) and in the
fifth year (US$30,000) per month.
<PAGE>

4.2 Equity
In addition to the cash consideration described above the Vice President shall
be entitled to receive an option to purchase five million (5,000,000) common
shares of the Corporation registered upon Form S-8 promulgated under the
Securities Act of 1933, as amended. These shares be issued to the Vice President
in accordance with the aforementioned regulations upon the following events
having occurred;
A) Upon the execution of this Agreement, two million (2,000,000) shares;
B) Upon the Corporation receiving into its accounts not less than one million
dollars of lawful currency of the United States of America (US $ 1,000,000)
there shall be caused to be issued a further two million (2,000,000) shares;
and,
C) Upon the successful completion of six months service to the Corporation as
determined by resolution of the Board of Directors there shall be caused to be
issued an additional one million (1,000,000) shares.

5 PERFORMANCE BONUS
5.1 In addition to the Vice President's annual base salary, the Vice President
shall participate in the Corporation's Executive Bonus Plan on the same basis as
the other senior executive officers of the Corporation.

6 NO FURTHER SALARY OR BONUS ADJUSTMENTS
6.1 Other than as herein provided, there shall be no cost-of-living increase or
merit increase in the annual base salary or the Vice President's bonus unless
agreed to in writing by the Corporation.

7  EXPENSES
7.1 The Vice President shall be reimbursed for all reasonable travel and other
out-of-pocket expenses actually and properly incurred and required by management
by the Vice President from time to time in connection with carrying out his
duties hereunder including but not limited to transportation, lodging and meals.
For all such expenses the Vice President shall furnish to the Corporation
originals of all invoices or statements in respect of which the Vice President
seeks reimbursement.
7.2 If the Vice President shall belong to any professional organization or
licensing body for which he must pay an annual fee, the Corporation shall
reimburse the Vice President for such annual fee provided the Vice President has
provided the Corporation with all invoices or statements in respect of which the
Vice President seeks reimbursement.
7.3 The Vice President will be provided with a cellular phone and/or email
pager, at the discretion of the Corporation, to be used exclusively for
conducting the Corporation's business and to assist him in performing his duties
as Vice President and that all charges and levies associated with said
communication device will be paid by the Corporation, including reasonable
personal usage not to exceed $200 per month.
7.4 In the event that the Corporation shall require the Vice President to
travel, the Corporation agrees to reimburse the Vice President for all travel
costs, accommodation, food and per diem expenses in accordance with the
Corporation's travel fee schedule.

8 VACATION
8.1 The Vice President shall be entitled to four (4) weeks' paid vacation per
fiscal year of the Corporation at a time approved in advance by the Board of
Directors, which approval shall not be unreasonably withheld but shall take into
account the staffing requirements of the Corporation and the need for the timely
<PAGE>

performance of the Vice President's responsibilities. In the event that the Vice
President decides not to take all the vacation to which he is entitled in any
fiscal year, the Vice President shall be entitled to accumulate such vacation
entitlement from year to year and, in the event the Vice President shall have
any accumulated vacation entitlement as of the termination of his employment he
may elect to be paid for such vacation time at a rate equal to the weekly value
of the base compensation, as adjusted, times three (3).

9 BENEFITS
9.1 The Vice President shall be entitled to receive the same level of medical
and dental benefits as those provided to the other senior executive officers of
the Corporation. In the event that the medical plan of the Corporation cannot or
will not extend coverage to the Vice President, the Corporation shall determine
the costs of coverage for a similar individual in accordance with the
Corporation's benefit plan and thereafter shall contribute that amount on a
monthly basis to the Vice President's private health plan. In the event the
Corporation or its insurer shall require the Vice President to submit to a
medical or similar examination the Vice President shall cooperate fully with
such request.
9.2 In the event that this Agreement is terminated by the Corporation with
notice, the Vice President shall be entitled to receive his medical benefits
during the notice period.

10  TERMINATION
10.1 Cause: The Corporation may terminate the employment of the Vice President
without notice or any payment in lieu of notice for cause which, without
limiting the generality of the foregoing, shall include:
(1) if there is a repeated and demonstrated failure on the part of the Vice
President to perform the material duties of the Vice President's position in a
competent manner and where the Vice President fails to substantially remedy the
failure within a reasonable period of time after receiving written notice of
such failure from the Corporation;
(2) if the Vice President is convicted of a criminal offence involving fraud or
dishonesty;
(3) if the Vice President or any member of his family makes any personal profit
arising out of or in connection with a transaction to which the Corporation is a
party or with which it is associated without making disclosure to and obtaining
the prior written consent of the Corporation;
(4) if the Vice President breaches his fiduciary duties to the Corporation,
including the duty to act in the best interests of the Corporation; or business
and to assist him in performing his duties as Vice President and that all
charges and levies associated with said communication device will be paid by the
Corporation, including reasonable personal usage not to exceed $1,000 per month.
(5) if the Vice President disregards reasonable instructions of the Board of
Directors of the Corporation that are not inconsistent with the Vice President's
position and those duties defined herein, and which refusal is not remedied by
the Vice President within a reasonable period of time after receiving written
notice of such disobedience.
10.2 Disability/Death: This agreement may be immediately terminated by the
Corporation by notice to the Vice President if the Vice President becomes
permanently disabled.
(1) The Vice President shall be deemed to have become permanently disabled if in
any year during the employment period, because of ill health, physical or mental
disability, or for other causes beyond the control of the Vice President; the
Vice President has been continuously unable or unwilling or has failed to
perform the Vice President's duties for 120 consecutive days, or if, during any
year of the employment period, the Vice President has been unable or unwilling
or has failed to perform his duties for a total of 180 days, consecutive or not.
The term "any year of the employment period" means any period of 12 consecutive
months during the employment period.
(2) This agreement shall terminate without notice upon the death of the Vice
President.
<PAGE>

11 SEVERANCE PAYMENTS
11.1 Upon termination of the Vice President's employment:
(1) for cause;
(2) by the voluntary termination of employment of the Vice President, or
(3) by the non-renewal of this Agreement, the Vice President shall not be
entitled to any severance payment other than compensation earned by the Vice
President before the date of termination calculated pro rata up to and including
the date of termination.
11.2 If the Vice President's employment is terminated for any other reason other
than the reasons set forth in subsection 11.1, the Vice President shall be
entitled to receive six (6) months' salary at the then applicable base salary
rate.
11.3 The payment described in this subsection 11.2 is the only severance payment
the Vice President will receive in the event of the termination of this
agreement for reasons contemplated in this subsection .
11.4 If the Vice President's employment is terminated as a result of a permanent
disability' or death, the Vice President or his estate, as applicable, shall be
entitled to receive, within 30 days of the date of such termination, the balance
of the base salary that would otherwise be paid to the Vice President during the
remainder of the term of this agreement, The Vice President agrees to reasonably
comply with all requirements necessary' for the Corporation to obtain life
insurance for the term of this agreement.
11.5 For the purposes of this section 11, whenever a payment is to be determined
with reference to the remaining term of this agreement, if less than six months
remain in the term of this agreement and no party has given notice of its
intention not to renew this agreement as contemplated by section I, the
"remaining term of this agreement" shall include the remainder of the then
existing term of this agreement plus the renewal period.
11.6 In the unlikely event that the Board of Directors of Quest elects to
terminate your employment for anything other than cause, including failure to
renew this agreement, (defined as commission of a crime (other than minor
traffic offenses), acts of dishonesty, fraud of malfeasance in connection with
your service on behalf of the Company, gross dereliction of duty, willful
failure to carry out any lawful directive of the Board of Directors, or material
violations of Company policies) you will receive severance pay equal to one (1)
month of your then current base salary for each year or part of a year of
service with a minimum of 6 months and a maximum of 12 months, with continuation
of all medical benefits during the twelve-month period. The severance payment
will be made under the current pay cycle, each pay period, during the 12 months.
All unvested options will vest immediately upon your separation from the Company
and remain vested for the duration of their pre-established term, 10 years.
Further, Quest will indemnify, or continue to indemnify, you to the full extent
permitted by Nevada law if you are, or become, a party to a matter by reason of
being or having been a director or officer of QUEST. The obligations of QUEST in
this paragraph shall be binding upon and become the obligations of any
successors or assigns of QUEST.
11.7 Additionally, in the event of a change in control, you shall receive five
million shares of the common stock to be registered upon execution hereof, for
delivery upon a change in control.

Additionally, you may elect to exercise this severance provision at your option
under the following circumstances:
<PAGE>

- If you are required to relocate by the Board of Directors of QUEST as a
condition of continued employment, defined as moving your primary office more
than 25 miles from its current location in Paterson, New York and/or Pikeville,
Kentucky.
     -    A substantial change in responsibilities at the direction of the Board
          of Directors of the responsibilities normally assumed by your position
          (i.e., demotion); or
     -    Change in control of the Company, (i.e., if the Company is acquired
          wholly or if another corporate entity becomes the controlling
          shareholder)

12 CONFIDENTIALITY:
12.1 The Vice President acknowledges and agrees that:
(1) in the course of performing his duties and responsibilities as an officer of
the Corporation, he has had and will continue in the future to have access to
and has been and will be entrusted with detailed confidential information and
trade secrets (printed or otherwise) concerning past, present, future and
contemplated products, services, operations and marketing techniques and
procedures of the Corporation and its subsidiaries, including, without
limitation, information relating to addresses, preferences, needs and
requirements of past, present and prospective clients, customers, suppliers
(which, for all purposes of this agreement shall be referred to as the
"Information")

14 DISCLOSURE
14.1 This agreement, shall be deemed to include, without limitation, suppliers,
employees and any critical information of the Corporation and its subsidiaries
not presently available to the public (collectively, "Trade Secrets"), the
disclosure of any of which to competitors of the Corporation or to the general
public, or the use of same by the Vice President or any competitor of the
Corporation or any of its subsidiaries, would be highly detrimental to the
interests of the Corporation;
(2) in the course of performing his duties and responsibilities for the
Corporation, the Vice President has been and will continue in the future to be a
representative of the Corporation to its customers, clients and suppliers and as
such has had and will continue in the future to have significant responsibility
for maintaining and enhancing the goodwill of the Corporation with such
customers, clients and suppliers and would not have, except by virtue of his
employment with the Corporation, developed a close and direct relationship with
the customers, clients and suppliers of the Corporation;
(3) the Vice President, as an officer of the Corporation, owes fiduciary duties
to the Corporation, including the duty to act in the best interests of the
Corporation and its shareholders; and,
(4) the right to maintain the confidentiality of the Trade Secrets, the right to
preserve the goodwill of the Corporation and the right to the benefit of any
relationships that have developed between the Vice President and the customers,
clients and suppliers of the Corporation by virtue of the Vice President's
employment with the Corporation constitute proprietary rights of the
Corporation, which the Corporation is entitled to protect.
In acknowledgment of the matters described above and in consideration of the
payments to be received by the Vice President pursuant to this agreement, the
Vice President hereby agrees that he will not, for two years from his last day
of employment with the Corporation. directly or indirectly disclose to any
person or in any way make use of (other than for the benefit of the
Corporation), in any manner, any of the Trade Secrets, provided that such Trade
Secrets shall be deemed not to include information that is or becomes generally
available to the public other than as a result of disclosure by the Vice
President.

14. NON-SOLICITATION
14.1 The Vice President hereby agrees that he will not, during the period
commencing on the date hereof and ending two (2) years following the expiration
of the term of this agreement, be a party to or abet any solicitation of
<PAGE>

customers, clients or suppliers of the Corporation or any of its subsidiaries,
to transfer business from the Corporation or any of its subsidiaries to any
other person, or seek in any way to persuade or entice any employee of the
Corporation or any of its subsidiaries to leave that employment or to be a party
to or abet any such action.
14.2 The Vice President will promptly disclose to the Board of Directors full
information concerning any interest, direct or indirect, of the Vice President
(as owner, shareholder, partner, lender or other investor, director, officer,
employee, consultant or otherwise) or any member of his family in any business
that is reasonably known to the Vice President to purchase or otherwise obtain
services or products from, or to sell or otherwise provide services or products
to the Corporation or to any of its suppliers or customers.

15. PLACE OF EMPLOYMENT
15.1 The current place of business of the Corporation is Paterson, New Jersey
and Pikeville, Kentucky. The Vice President resides and shall carry out his
duties principally from the Paterson office and shall not be required to
relocate to elsewhere on a permanent basis. It is understood and agreed that
should the Corporation require the use of an address in the State of New Jersey
for postage and/or deliveries, the Vice President shall provide his home address
for no additional compensation. Finally the Corporation shall not require the
Vice President to permanently relocate away from Paterson, New Jersey.
15.2 In the event that the Corporation shall determine that it is in its best
interests: to move its place of business more than two hundred and fifty
kilometers from its current location the Corporation shall provide at least nine
months advance notice of this requirement and effect the move in a manner that
minimizes disruption to the Vice President and his family. It is acknowledged
and agreed that such a decision to move shall not be deemed or construed as a
termination, constructive or otherwise, of the employment of the Vice President
under this agreement.
15.3 In the even that the Corporation should require the Vice President to
relocate more than two hundred and fifty (250) kilometers from his current
principal residence, the Corporation shall either pay for or reimburse the Vice
President for the following:
(1) costs of the Vice President, his spouse and his children, if any, traveling
to the proposed new location for up to two week to examine prospective homes
including transportation, hotel accommodation, food and incidentals;
(2) should the Vice President be required to sell his house in order to move for
the purposes of his employment the Corporation will pay all real estate
commissions, tax penalties (other than income tax penalties) and/or mortgage
termination penalties incurred in selling the Vice President's principle
residence. If the Vice President obtains written estimates of the fair market
value of his principal residence and thereafter the Vice President sells his
house for less than the average fair market price the Corporation shall
reimburse the Vice President for the difference.
(3) costs of packing, moving and unpacking the contents of the Vice President's
principal residence;
(4) costs of relocating electronic services into the Vice President's
destination
(5) the costs of one return airfare per year for the Vice President, the Vice
President's spouse and dependent children to the city from which the Vice
President has moved.
(6) The above provisions shall apply in every instance where the Vice President
required to move his principal residence at the request of the Employer.

16 RETURN OF MATERIALS
16.1 All files, brochures, books, materials, written correspondence, memoranda,
documents, manuals, computer disks, software products and lists (including lists
of customers, suppliers, products and prices) pertaining to the business of the
Corporation or any of its subsidiaries and associates that may come into the
<PAGE>

possession or control of the Vice President shall at all times remain the
property of the Corporation or such subsidiary or associate, as the case may be.
On termination of the Vice President's employment for any reason, the Vice
President agrees to deliver promptly to the Corporation all such property of the
Corporation in the possession of the Vice President or directly or indirectly
under the control of the Vice President. The Vice President agrees not to make
for his personal or business use or that of any other party, reproductions or
copies of any such property or other properly of the Corporation.

17 GOVERNING LAW.
17.1 This agreement shall be governed by and construed in accordance with the
laws of the State of New Jersey.

18 SEVERABILITY
18.1 If any provision of this agreement, including the breadth or scope of such
provision, shall be held by any court of competent jurisdiction to be invalid or
unenforceable, in whole or in part, such invalidity or unenforceability shall
not affect the validity or enforceability of the remaining provisions, or part
thereof, of this agreement and such remaining provisions or part thereof, shall
remain enforceable and binding.

19 ENFORCEABILITY
19.1 The Vice President hereby confirms and agrees that the covenants and
restrictions pertaining to the Vice President contained in this agreement
including, without limitation, those contained in. sections 12 and 13 hereof,
are reasonable and valid and hereby further acknowledges and agrees that the
Corporation would suffer irreparable injury in the event of any breach by the
Vice President of his obligations under any such covenant or restriction.
Accordingly, the Vice President hereby acknowledges and agrees that damages
would be an inadequate remedy at law in connection with any such breach and that
the Corporation shall therefore be entitled in lieu of any action for damages,
temporary and permanent injunctive relief enjoining and restraining the Vice
President from any such breach.

20 NO ASSIGNMENT
20.1 The Vice President may not assign, pledge or encumber his interest in this
agreement nor assign any of the rights or duties of the Vice President under
this agreement without the prior written consent of the Corporation.

21  SUCCESSORS
21.1 This agreement shall be binding on and enure to the benefit of the
successors and assign of the Corporation and the heirs, executors, personal
legal representatives and permitted assigns of the Vice President.

22 NOTICES
22.1 Any notice or other communication required or permitted to be given
hereunder shall be in writing and either delivered by hand or mailed by prepaid
registered mail. At any time other than during a general discontinuance of
postal service due to strike, lock-out or otherwise; a notice so mailed shall be
deemed to have been received three business day: after the postmarked date
thereof or, if delivered by hand; shall be deemed to have been received at the
time it is delivered. If there is a general discontinuance of postal service due
to strike, lock -out or otherwise, a notice sent by prepaid registered mail
shall be deemed to have been received three business days after the resumption
of postal service Notices shall be addressed as follows:
<PAGE>

(1) If to the Corporation:

         Suite 2, 9810 Meta Highway
         Pikeville, KY
         Attention: The President

(2) If to the Vice President:

         18B East Fifth Street
         Paterson, NJ 07524

23 LEGAL ADVICE
23.1 The Vice President hereby represents and warrants to the Corporation and
acknowledges and agrees that he had the opportunity to seek and was not
prevented nor discouraged by the Corporation from seeking independent legal
advice prior to the execution and delivery this agreement and that, in the event
that he did not avail himself of that opportunity prior to signing this
agreement, he did so voluntarily without any undue pressure and agrees that his
failure to obtain independent legal advice shall not be used by him as a defense
to the enforcement of his obligations under this agreement.

24 ARBITRATION
24.1 This Agreement shall be subject to binding arbitration before a panel of
three arbitrators sitting at Hackensack, New Jersey, under the then existing
Rules of the American Arbitration Association or such other alternative dispute
resolution mechanism as may be mutually agreed by the parties.

25 RATIFICATION
25.1 This Agreement was ratified by the Board of Directors of the Corporation on
December 8, 2005, becoming fully effective and binding.

IN WITNESS WHEREOF the parties hereto have executed this agreement as of the
date first above written.

         QUEST MINERALS & MINING CORP.

         BY: /s/ WILLIAM R. WHEELER
             ----------------------
                 William R. Wheeler
                 President

         /s/ EUGENE CHIARAMONTE, JR.
         ---------------------------
         Eugene Chiaramonte, Jr.

<PAGE>

Schedule "A" - Duties of the Vice President
The Vice President shall serve the Corporation and any subsidiaries of the
Corporation in such capacity or capacities and shall perform such duties and
exercise such powers pertaining to the executive management and operation of the
Corporation and any subsidiaries and associates of the Corporation as may be
determined from time to time by the board of directors of the Corporation
consistent with the office of the Vice President. Without limitation of the
foregoing, the Vice President shall occupy the office of Vice President of the
Corporation. The Vice President shall:
(1) devote his full time and attention and his best efforts during normal
business hours to the business and affairs of the Corporation;
(2) perform those duties that may reasonably be assigned to the Vice President
diligently and faithfully to the best of the Vice President's abilities and in
the best interests of the Corporation, and
(3) use his best efforts to promote the interests, and goodwill of the
Corporation.
However, notwithstanding the above the Vice President will be allowed to devote
up to ten (10) hours per week, during normal business hours, to other matters
which do not conflict with the business of the Corporation.<PAGE>

                                                                   EXHIBIT 10.42
                              EMPLOYMENT AGREEMENT

         This Employment Agreement (the "Agreement") is made as of this 9th day
of August, 2005, by and between Simulations Plus, Inc., a California corporation
(the "Company") and Walter S. Woltosz, an individual (the "Employee") with
reference to the following facts:

A. The Company desires to secure the services of the Employee as President and
Chief Executive Officer.

B. The Employee agrees to perform such services for the Company under the terms
and conditions set forth in this Agreement.

         In consideration of the mutual promises, covenants and conditions set
forth herein and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, it is hereby agreed by and between
the Company and the Employee as follows:

1. Representations and Warranties.
----------------------------------

The Company represents and warrants that it is empowered under its Articles of
Incorporation and Bylaws to enter into this Agreement. The Employee represents
and warrants that he is under no employment contract, bond, confidentiality
agreement, or any other obligation which would violate or be in conflict with
the terms and conditions of this Agreement or encumber his performance of duties
assigned to him by the Company. The Employee further represents and warrants
that he has not signed or committed to any employment or consultant duties or
other obligations which would divert his full attention from the duties assigned
to him by the Company by this Agreement.

2. Employment and Duties.
-------------------------

The Company employs the Employee as President and Chief Executive Officer and
the Employee hereby accepts such employment (the "Employment"). The Employee
agrees that he shall devote his full time, ability, attention, energy, knowledge
and skill solely and exclusively to performing all duties as President and Chief
Executive Officer of the Company as assigned or delegated to him by the
directors and executive officers of the Company.

3. Term.
--------

Subject to the provisions of Section 5, the term of this Agreement shall extend
until August 31, 2007, commencing on the date hereof.

4. Compensation.
----------------

In full and complete consideration for the Employment, each and all of the
services to be rendered to the Company by the Employee, and each and all of the
representations, warranties, covenants, agreements and promises undertaken by
the Employee pursuant to this Agreement, the Employee shall be entitled to
receive compensation as follows:

4.1. BASE SALARY. The Employee shall receive from the Company a base salary of
one hundred seventy-two thousand dollars ($172,000.00) per year, payable in
equal, monthly installments. From each said salary payment the Company will
withhold and pay to the proper governmental authorities any and all amounts
required by law to be withheld for federal income tax, state income tax, federal
Social Security tax, state disability insurance premiums, and any and all other
amounts required by law to be withheld from the Employee's salary.

<PAGE>

4.2. SPECIAL INCENTIVE OPPORTUNITY. In addition to, and not in lieu of, the base
salary provided for in Section 4.1 above, Employee shall be entitled to receive
from Employer a bonus (the "Bonus") not to exceed one hundred fifty thousand
dollars ($150,000.00), equal to 5% of the Company's Net Annual Income before
taxes. For purposes of this Agreement, the term "Net Annual Income" shall be and
mean the amount of Net Income reported by the Company in its Form 10-K (the
"Form 10-K") as filed under the Securities Act of 1934, as amended. Payment of
the Bonus, if any, shall be made to the Employee within ten (10) days after the
Company files its Form 10-K.

4.3. GRANT OF OPTION. If the closing price of the Company's Common Stock
averages in excess of two hundred percent (200%) of the price per share of
Common Stock in the Company's initial public offering for a period of twenty
(20) consecutive days during any fiscal year, then Employee shall be granted an
option under the 1996 Stock Option Plan, exercisable for five (5) years, to
purchase fifty (50) shares of Common Stock for each one thousand dollars
($1,000) of net income before taxes that the Company earns with respect to such
fiscal year (up to a maximum of sixty thousand [60,000] options over the term of
this Agreement) at an exercise price 10% over the market value per share as of
the date of grant.

4.4. BENEFITS. Employer shall provide to Employee at the sole cost to Employer,
and Employee shall be entitled to receive from Employer, such health insurance
and other benefits which are appropriate to the office and position of Employee,
adequate to the performance of his duties and not inconsistent with that which
Employer customarily provides at the time to its other management employees.
Employee's right to vacation and sick leave shall be determined in accordance
with the policies of the Company as may be in effect from time to time and as
are approved by the Company's Board of Directors. Employee shall have the right
to reimbursement of customary, ordinary and necessary business expenses incurred
in connection with the rendering of services and performance of the functions
required hereunder in accordance with the policies of the Company as may be in
effect from time to time and as are approved by the Company's Board of
Directors. Such expenses are reimbursable only upon presentation by Employee of
appropriate documentation pursuant to the policies adopted by the Company's
Board of Directors.

5. Termination of Employment.
-----------------------------

5.1. EXPIRATION OF THE TERM OF AGREEMENT. This Agreement shall be automatically
terminated upon the expiration of the term of the agreement as described in
paragraph 3 of this Agreement. Upon such termination, the Company shall have no
further liability to the Employee for any payment, compensation or benefit
whatsoever.

5.2. BY DEATH. This Agreement shall be terminated upon the death of the
Employee. The Company's total liability in such event shall be limited to
payment of the Employee's salary and benefits through the date of the Employee's
death.

5.3. BY DISABILITY. If, in the sole opinion of the Company's Board of Directors,
the Employee shall be prevented from properly performing his or her duties
hereunder by reason of any physical or mental incapacity for a period of more
than 90 days in the aggregate in any twelve month period, then, to the extent
permitted by law, his or her employment with the Company shall terminate. The
Company's total liability in such event shall be limited to payment of the
Employee's salary and benefits through the effective date of termination upon
disability.

<PAGE>

5.4. FOR CAUSE. The Company reserves the right to terminate this Agreement
immediately, at any time, if, in the reasonable opinion of the Company's Board
of Directors: the Employee breaches or neglects the duties which he or she is
required to perform under the terms of this Agreement; commits any material act
of dishonesty, fraud, misrepresentation, or other act of moral turpitude; is
guilty of gross carelessness or misconduct; fails to obey the lawful direction
of the Company's Board of Directors; or acts in any way that has a direct,
substantial and adverse effect on the Company's reputation. The Company's total
liability to the Employee in the event of termination of the Employee's
employment under this paragraph shall be limited to the payment of the
Employee's salary and benefits through the effective date of termination.

5.5. WITHOUT CAUSE. The Company reserves the right to terminate this Agreement
without cause for any reason whatsoever upon thirty (30) days' written notice to
the Employee. Upon termination under this subsection, the Employee shall receive
payment of an amount equal to twelve (12) months of the Employee's base salary
or the Employee's base salary for the remaining term of this Agreement,
whichever is greater. Other than payment of the amount as described in this
paragraph, the Company shall have no further obligation to pay the Employee any
other compensation or benefits whatsoever. The Employee hereby agrees that the
Company may dismiss him or her under this paragraph 5.5 without regard (i) to
any general or specific policies (whether written or oral) of the Company
relating to the employment or termination of its employees, or (ii) to any
statements made to the Employee, whether made orally or contained in any
document, pertaining to the Employee's relationship with the Company.

5.6. MUTUAL CONSENT. This Agreement shall be terminated upon mutual written
consent of the Company and the Employee. The Company's total liability to the
Employee in the event of termination of the Employee's employment under this
paragraph shall be limited to the payment of the Employee's compensation through
the effective date of termination.

5.7. TERMINATION OF OBLIGATIONS. Upon termination of employment for any reason
whatsoever, the Employee shall be deemed to have resigned from all offices and
directorships then held with the Company.

6. Restrictions on Use or Disclosure of Confidential Matters, Proprietary
-------------------------------------------------------------------------
Information and Trade Secrets.
------------------------------

6.1. During the term of this Agreement, the Employee may be dealing with trade
secrets of the Company, including without limitation, customer lists, client
contacts, financial information, inventions and processes, all of a confidential
nature that are the Company's property and are used in the course of the
Company's business. The Employee will not disclose to anyone, directly or
indirectly, any of such trade secrets or use them other than as necessary in the
course of his duties with the Company. All documents that the Employee prepares,
or confidential information that might be given to him or that Employee himself
might create in the course of his consultation with the Company, are the
exclusive property of the Company. During the term of this Agreement and at any
time thereafter, the Employee shall not publish, communicate, divulge, disclose
or use any of such information which has been reasonably designated by the
Company as proprietary or confidential or which from the surrounding
circumstances the Employee knows, or has good reason to know, or should
reasonably know, ought to be treated by the Employee as proprietary or
confidential without the prior written consent of the Company, which consent may
not be unreasonably withheld by the Company.

6.2. In the course of his employment for the Company, Employee will develop a
personal relationship with the Company's customers and knowledge of those
customer's affairs and requirements which may constitute the Company's only
contact with such customers. Employee consequently agrees that it is reasonable
and necessary for the protection of the goodwill and business of the Company
that Employee make the covenants contained herein. Accordingly, Employee agrees
that while he is in the Company's employ and for a one (1) year period after the
termination of such employment for any reason whatsoever, he will not directly
or indirectly:

<PAGE>

(a) attempt in any manner to solicit from any customer (except on behalf of the
Company) business of the type performed by the Company or to persuade any
customer of the Company to cease to do business or reduce the amount of business
which any such customer has customarily done or contemplates doing with the
Company, whether or not the relationship with the Company and such customer was
originally established in whole or in part through Employee's efforts; or

(b) engage in any business as, or own an interest in, directly or indirectly,
any individual proprietorship, partnership, corporation, joint venture, trust or
any other form of business entity if such business form or entity is engaged in
the business in which the Company is engaged;

(c) render any services of the type rendered by the Company to or for any
customer of the Company;

(d) employ or attempt to employ or assist anyone else to employ any person who
is then or at any time during the preceding year in the Company's employ.

This entire Section 6 shall survive termination of this Agreement.

7. Company Property.
--------------------

7.1. Any patents, inventions, discoveries, applications or processes, software
and computer programs devised, planned, applied, created, discovered or invented
by the Employee in the course of the engagement under this Agreement and which
pertain to any aspect of the business of the Company, or its subsidiaries,
affiliates or customers, shall be the sole and exclusive property of the
Company, and the Employee shall make prompt report thereof to the Company and
promptly execute any and all documents reasonably requested to assure the
Company the full and complete ownership thereof.

7.2. All records, files, lists, drawings, documents, equipment and similar items
relating to the Company's business which the Employee shall prepare or receive
from the Company shall remain the Company's sole and exclusive property. Upon
termination of this Agreement the Employee shall return promptly to the Company
all property of the Company in his possession and the Employee represents and
warrants that he will not copy, or cause to be copied, printed, summarized or
compiled, any software, documents or other materials originating with and/or
belonging to the Company, including, without limitation, documents or other
materials created by the Employee for, or on behalf of, the Company. The
Employee further represents and warrants that he will not retain in his
possession any such software, documents or other materials in machine or human
readable form.

7.3. This Section 7 shall survive termination of this Agreement.

8. OUTSIDE ACTIVITIES. During the term of this Agreement, the Employee shall
devote his entire productive time, ability and attention to the business of the
Company. During the term of this Agreement, the Employee shall not, directly or
indirectly, either as an officer, director, employee, representative, principal,
partner, shareholder, employee, agent or in any other capacity, engage or assist
any third party in engaging in any business competitive with the business of the
Company, without the prior written consent of the Company, which consent may be
withheld by the Company in its sole and absolute discretion. Following his
employment with the Company, the Employee shall not engage in unfair competition
with the Company, aid others in any unfair competition with the Company, in any
way breach the confidence that the Company has placed in the Employee or
misappropriate any proprietary information of the Company.

<PAGE>

9. REPORTS. The Employee, when directed, shall provide written reports to the
Company with respect to the services provided hereunder.

10. STRICT-LOYALTY. The Employee hereby covenants and agrees to avoid all
circumstances and actions which reasonably would place the Employee in a
position of divided loyalty with respect to his obligations under this
Agreement.

11. ASSIGNMENT. This Agreement may not be assigned to another party by the
Employee without the prior written consent of the Company, which consent may be
withheld by the Company, in its sole and absolute discretion.

12. ARBITRATION. Except as otherwise provided herein in Section 15.11, any
controversy between the Company and Employee in connection with this Agreement,
including, without limitation, any dispute or claim arising from the voluntary
or involuntary termination hereof, shall be settled by final and binding
arbitration in Los Angeles, in accordance with the Commercial Arbitration Rules
of the American Arbitration Association. Judgment of such award may be entered
in a court of competent jurisdiction. Employee and the Company shall each pay
the fees of his or its own attorneys, the expenses of his or its witnesses and
all other fees and expenses connected with presenting his or its case at
arbitration. All other costs of the arbitration, including, without limitation,
the costs of any record or transcript of the arbitration proceedings,
administrative fees, the fee for the arbitrator and all other fees and costs
shall be borne equally by the Company and Employee.

13. COMPANY BYLAWS, DIRECTIONS, POLICIES, PRACTICES, RULES, REGULATIONS AND
PROCEDURES. Employee agrees to become and remain thoroughly familiar with each
and all of the Company's bylaws, directions, policies, practices, rules,
regulations and procedures that relate to the employment and/or to any of
Employee's duties and/or responsibilities as an employee of the Company and to
abide fully and by each and all of such bylaws, directions, policies, practices,
rules, regulations and procedures. During the term of employment, Employee shall
be fully bound by and employed pursuant to each and all of the Company's bylaws,
directions, policies, practices, rules, regulations and procedures as now in
effect or as may be implemented, modified or otherwise put into effect by the
Company during the term of employment, regardless of whether such bylaws,
directions, policies, practices, rules, regulations and procedures are oral or
are set forth in any manual, handbook or other document, and it is solely the
responsibility of Employee to become and remain fully aware of and familiar with
each and all such directions, policies, practices, rules, regulations and/or
procedures. In the event of any conflict between any provision of this Agreement
and any provision of the Company's directions, policies, practices, rules,
regulations and/or procedures, the provisions of this Agreement govern for any
and all purposes whatsoever.

14. INDEMNIFICATION. The Company shall indemnify and hold Employee harmless from
any and all claims, demands, judgments, liens, subrogation or costs incurred by
Employee with respect to any shareholder derivative action or other claims or
suits against the Company and/or its Board of Directors by individuals, firms or
entities not a party to this Agreement to the maximum extent permitted under
California law.

General.
--------

15.1. FUR FURTHER DOCUMENTS. Each party shall execute and deliver all further
instruments, documents and papers, and shall perform any and all acts necessary
reasonably requested by the other party, to give full force and effect to all of
the terms and provisions of this Agreement.

15.2. SUCCESSORS AND ASSIGNS. Except where expressly provided to the contrary,
this Agreement, and all provisions hereof, shall inure to the benefit of and be
binding upon the parties hereto, their successors in interest, assigns,
administrators, executors, heirs and devises.

15.3. SEVERABILITY. Whenever possible, each provision of this Agreement shall be
interpreted in such a manner as to be effective and valid under applicable law.
If any provision of this Agreement, as applied to any party or to any
circumstance, shall be found by a court or arbitrator to be invalid or
unenforceable under applicable law, such provision will be ineffective only to
the extent of such invalidity or unenforceability, without invalidating or
rendering unenforceable the remainder Of such provision and any such invalidity
or unenforceability shall in no way affect any other provision of this
Agreement, the application of any provision in any other circumstance or the
validity or enforceability of this Agreement.

15.4. NOTICES. All notices or demands shall be in writing and shall be served
personally, telegraphically or by express or certified mail. Service shall be
deemed conclusively made at the time of service if personally served, at the
time that the telegraphic agency confirms to the sender deliver thereof to the
addressee if served telegraphically, 24 hours after deposit thereof in the
United States mail properly addressed and postage prepaid, return receipt
requested, if served by express Mail, and five days after deposit thereof in the
United States mail, properly addressed and postage prepaid, return receipt
requested, if served by certified mail. Any notice or demand to the Company
shall be given to:

                            Simulations Plus, Inc.
                            1220 West Avenue J
                            Lancaster, CA 93534-2902
                            (661) 723-7723 Telephone
                            (661) 723-5524 Facsimile
                            Attention: Corporate Secretary

and any notice or demand to the Employee shall be given to:

                            Mr. Walter S. Woltosz 1220 West
                            Avenue J Lancaster, CA 93534-2902
                            (661) 723-7723 Telephone
                            (661) 723-5524 Facsimile

Any party may, by virtue of a written notice in compliance with this paragraph,
alter or change the address or the identity of the person to whom any notice, or
copy thereof, is to be sent.

15.5. WAIVER. A waiver by any party of any of the terms and conditions of this
Agreement in any one instance shall not be deemed or construed to be a waiver of
the term or condition for the future, or of any subsequent breach thereof or of
any other term or condition thereof. Any party may waive any term, provision or
condition included for the benefit of that party. Any and all waivers shall be
in writing.

15.6. CONSTRUCTION. This Agreement shall be governed by and construed in
accordance with the laws of the State of California applicable to contracts
entered into and fully to be performed therein without regard to its principles
of choice of law or conflicts of law. In all matters of interpretation, whenever
necessary to give effect to any provision of this Agreement, each gender shall
include the others, the singular shall include the plural, the plural shall
include the singular and the terms "and" and "or" may be used interchangeably as
the context so requires or implies. The title of the sections of this Agreement
are for convenience only and shall not in any way affect the interpretation of
any provision or condition of this Agreement. All remedies, rights,
undertakings, obligations and agreements contained in this Agreement shall be
cumulative and none of them shall be in limitation of any other remedy, right,
undertaking, obligation or agreement of any party.

<PAGE>

15.7. ENTIRE UNDERSTANDING. This Agreement contains the entire understanding of
the parties hereto relating to the subject matter contained herein and
supersedes all prior and collateral agreements, understandings, statements and
negotiation of the parties. Each party acknowledges that no representations,
inducements or promises, oral or written, with reference to the subject matter
hereof have been made other than as expressly set forth herein. This Agreement
cannot be changed, rescinded or terminated orally.

15.8. THIRD PARTY RIGHTS. The parties hereto do not intend to confer any rights
or remedies upon any person other than the parties hereto and those referred to
in Section 15.2 hereof so long as any such assignment by Employee was approved
by the Company as provided in Section 11 hereof.

15.9. ATTORNEYS' FEES. In the event of any litigation between the parties
respecting or arising out of this Agreement, the prevailing party shall be
entitled to recover reasonable legal fees and costs, whether or not the
litigation proceeds to final judgment or determination.

15.10. PLACE OF LITIGATION. Any litigation between the parties shall occur in
the County of Los Angeles, California.

15.11. INJUNCTIVE RELIEF. Since a breach of the provisions of Sections 6, 7, 8
and 10 of this Agreement cannot adequately be compensated by monetary damages,
the Company shall be entitled, in addition to any other right and remedy set
forth in this Agreement or available to it at law, in equity or otherwise, to
seek and obtain from any court of competent jurisdiction immediate temporary,
preliminary and permanent injunctive relief restraining such breach or
threatened breach, without the posting of any bond or other security therefor,
against the Employee and against each and every other person, firm company,
joint venture, and/or other entity concerned with and/or acting in concert with
the Employee. Any such requirement of bond or other security is hereby expressly
waived by the Employee, and the Employee expressly acknowledges that in the
absence of such waiver, a bond or other security may be required by the court.
The Employee hereby consents to the issuance of such injunction and expressly
and knowingly waives any claim or defense that any adequate remedy at law might
exist for any such breach or threatened breach. The Employee agrees that the
provisions of Sections 6, 7, 8 and 10 of this Agreement are necessary and
reasonable to protect the Company in the conduct of the business of the Company.

15.12. COUNTERPARTS. This Agreement may be executed in counterparts which, taken
together, shall constitute the whole of the agreement between the parties.

<PAGE>

IN WITNESS THEREOF, the parties have executed this Agreement as of the day and
year first above written.

"Company"                            SIMULATIONS PLUS, INC.,
                                     a California corporation

                                     By: MOMOKO BERAN
                                         -------------------------
                                     Title: Chief Financial Officer
                                     Date: August 9, 2005

"Employee"                           WALTER  S. WOLTOSZ

                                     By: /S/ WALTER S. WOLTOSZ
                                         -----------------------------
                                         Walter S. Woltosz

                                     Date: AUGUST 9, 2005

Compensation Committee:

                                     By: /S/ DAVID D'ARGENIO
                                         ----------------------------
                                         Dr. David Z. D'Argenio

                                     Date: AUGUST 9, 2005

                                     By: /S/ RICHARD WEISS
                                         ----------------------------
                                         Dr. Richard R. Weiss

                                     Date: AUGUST 9, 2005

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