Document:

Exhibit
      10.3

    

      EXECUTION
        COPY

    

    

    TARGET
      LOGISTICS, INC.

    
      500
        HARBORVIEW DRIVE, THIRD FLOOR

      BALTIMORE,
        MARYLAND 21230

    

    

    September
      17, 2007

     

    Mr.
      Philip J. Dubato

    2160
      Bill
      Murdock Road

    Marietta,
      Georgia 30062

     

    Dear
      Phil:

     

    The
      purpose of this letter is to set forth the terms of your compensation upon
      termination of your employment with Target Logistics, Inc., a Delaware
      corporation (“Target”),
      in
      the event of a Change in Control.

     

    Payments
      and benefits provided by this letter agreement are in lieu of any payments
      or
      benefits to which you may be entitled under any other Target severance program
      or arrangement. Furthermore, this is not a contract of employment and nothing
      contained herein shall confer on you any right to be retained, in any position,
      as an employee, consultant or officer of Target or any of its subsidiaries
      (the
“Companies”)
      either
      before or after a Change in Control.

     

    1. Definitions.
      As used
      in this letter agreement, the following terms shall have the meanings set forth
      below: 

    

    (a) “Board”
means
      the Board of Directors of Target.

    

    (b) “Change
      in Control”
means
      the first to occur of any one of the following events: 

    

    (i) any
      “Person,”
as
      such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act
      of
      1934 (the “Exchange
      Act”)
      (other
      than (A) Target, or (B) any person or entity which currently owns more than
      20%
      of Voting Securities), is or becomes the “beneficial owner” (as defined in Rule
      13d-3 under the Exchange Act), directly or indirectly (not including any
      securities acquired directly from Target), of 25% or more of Target’s then
      outstanding securities eligible to vote in the election of the Board
      (“Voting
      Securities”),
      provided that the entry into an agreement to purchase such Voting Securities
      shall not constitute a Change in Control until the consummation of the
      transactions contemplated by any such agreement; 

    

    (ii) the
      following individuals cease for any reason to constitute a majority of the
      number of directors then serving on the Board: individuals who, on the date
      hereof, were members of the Board and any new director (other than a director
      whose initial assumption of office is in connection with an actual or threatened
      election contest, including but not limited to a consent solicitation, relating
      to the election of directors of Target) whose appointment or election by the
      Board or nomination for election by Target’s stockholders was approved or
      recommended by a vote of at least two-thirds (2/3) of the directors then still
      in office who either were directors on the date hereof or whose appointment,
      election or nomination for election was previously so approved or recommended;
      

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    (iii) there
      is
      consummated a merger or consolidation of Target with any other corporation
      or
      entity, or Target issues Voting Securities in connection with a merger or
      consolidation of any direct or indirect subsidiary of Target with any other
      corporation, other than (A) a merger or consolidation that would result in
      the
      holders of Voting Securities outstanding immediately prior thereto continuing
      to
      own (either by such Voting Securities remaining outstanding or by such Voting
      Securities being converted into Voting Securities of the surviving or parent
      entity) more than 50% of Target’s then outstanding Voting Securities or 50% of
      the combined voting power of such surviving or parent entity outstanding
      immediately after such merger or consolidation or (B) a merger or consolidation
      effected to implement a recapitalization of Target (or similar transaction)
      in
      which no Person, directly or indirectly, acquired 25% or more of Target’s then
      outstanding Voting Securities (not including any securities acquired directly
      from Target); or

    

    (iv) the
      consummation of a plan of complete liquidation of Target or the consummation
      of
      an agreement for the sale or disposition by Target of all or substantially
      all
      of Target’s assets (or any transaction having a similar effect), other than a
      sale or disposition by Target of all or substantially all of Target’s assets to
      an entity, at least 50% of the combined voting power of the voting securities
      of
      which are owned directly or indirectly by stockholders of Target in
      substantially the same proportions as their ownership of Target immediately
      prior to such sale.

    

    2. Payments
      Upon Termination of Employment upon or following a Change in
      Control.
      If,
      within the period beginning on a Change in Control and ending six (6) months
      following the date of such Change in Control, your employment with Target
      terminates for any reason whatsoever, including, without limitation, your
      resignation, then contingent upon your execution of a release in favor of Target
      substantially in the form annexed hereto as Exhibit
      A
      within
      45 days following termination of your employment and not revoking such release,
      you shall be entitled to the following payments and benefits:

    

    (a) Severance.
      Within
      60 days following the termination of your employment, Target shall pay you
      a
      lump sum cash payment of $300,000.

    

    (b) Health
      and Welfare Benefits.
      By
      executing this letter agreement, you elect continuation coverage (as defined
      in
      the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (COBRA))
      under Target’s medical and dental plans as in effect at the time of the
      termination of your employment (the “Health
      Plans”).
      Except as otherwise provided in this paragraph 2(b), Target shall pay the full
      premiums for you and any dependents eligible for continuation coverage under
      COBRA for 18 months following the date you terminate employment. For the period
      beginning 18 months after the date you terminate employment and continuing
      until
      the date that is 36 months after the date you terminate employment, Target
      will
      pay you at the end of each month an amount equal to the amount of the premiums
      which Target would have paid for such month (or eligible portion thereof) had
      you and your dependents remained on the Health Plans, which amount shall be
      determined using the premium cost in effect on the date your employment is
      terminated. On the date you secure subsequent employment with comparable medical
      and dental coverage (which you have no obligation to pursue), all right to
      benefits under this paragraph not already paid shall be forfeited. You agree
      that in consideration of the payment of cost of COBRA coverage to execute all
      necessary documentation acknowledging proper COBRA notice and coverage. You
      further agree to promptly notify Target in the event that secure subsequent
      employment with a comparable medical and dental coverage benefit.

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

    

    Your
      employment with Target will be considered terminated on the date you incur
      a
      separation from service (within the meaning of Treasury Regulation Section
      1.409A-1(h)(1)) from Target and any entity required to be aggregated with Target
      under Treasury Regulation Section 1.409A-1(h)(3).

    

    3. Withholding
      Taxes.
      Target
      may withhold from all payments or benefits due to you hereunder or under any
      other plan or arrangement of the Companies all taxes which, by applicable
      federal, state, local or other law, Target determines it is required to withhold
      therefrom.

    

    4. Parachute
      Payment Taxes.

    

    (a) Anything
      in this letter agreement to the contrary notwithstanding, in the event it shall
      be determined that any payment or distribution by Target to you or for your
      benefit (a “Payment”)
      would
      be subject to the excise tax (the “Excise
      Tax”)
      imposed by Section 4999 of the Internal Revenue Code of 1986 (the “Code”),
      then,
      prior to the making of any Payment to you, a calculation shall be made comparing
      (i) the net after-tax benefit to you of the Payment after payment of the Excise
      Tax, to (ii) the net after-tax benefit to you if the Payment had been limited
      to
      the extent necessary to avoid being subject to the Excise Tax. If the amount
      calculated under (i) above is less than the amount calculated under (ii) above,
      then the Payment shall be limited to the extent necessary to avoid being subject
      to the Excise Tax (the “Reduced
      Amount”).
      In
      that event, you shall direct which Payments are to be modified or
      reduced.

    

    (b) The
      determination of whether an Excise Tax would be imposed, the amount of such
      Excise Tax, and the calculation of the amounts referred to Section 4(a)(i)
      and
      (ii) above shall be made by Target’s regular independent accounting firm at the
      expense of Target or, at your election and expense, a nationally recognized
      independent accounting firm (the “Accounting
      Firm”)
      which
      shall provide detailed supporting calculations. Any determination by the
      Accounting Firm shall be binding upon you and Target. As a result of the
      uncertainty in the application of Section 4999 of the Code at the time of the
      initial determination by the Accounting Firm hereunder, it is possible that
      Payments to which you are entitled to, but did not receive pursuant to Section
      4(a), could have been made without the imposition of the Excise Tax
      (“Underpayment”).
      In
      such event, the Accounting Firm shall determine the amount of the Underpayment
      that has occurred and any such Underpayment shall be paid by Target to you
      or
      for your benefit within 30 days following such determination by the Accounting
      Firm.

    

    (c) In
      the
      event that the provisions of Code Section 280G and 4999 or any successor
      provisions are repealed without succession, this Section 4 shall be of no
      further force or effect.

    

    5. No
      Duty to Mitigate.
      You will
      have no duty to mitigate your damages, including any duty to seek other
      employment, in the event of any breach by Target of this letter agreement or
      otherwise. In no event shall any amount payable to you hereunder be subject
      to
      offset for any compensation or other amount received from any third
      party.

    

    6. Covenants.
      As a
      condition precedent to and in consideration of your receipt of the payments
      and
      benefits set forth above: 

    

    (a) You
      agree
      to return all written or electronic documents of the Companies to Target
      immediately upon termination of your employment with Target. 

    

    (b) You
      agree
      that during the period of your employment with Target, and for a period ending
      with the expiration of 24 months following your termination of employment with
      Target, you shall not, without the written consent of Target:

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

    

    (i) recruit
      or solicit any employee of the Companies for employment or for retention as
      a
      consultant or service provider;

    

    (ii) hire
      or
      participate (with another company or third party) in the process of hiring
      (other than for Target) any person who is then an employee of the Companies,
      or
      provide names or other information about the Companies’ employees to any person
      or business (other than Target) under circumstances that could lead to the
      use
      of that information for purposes of recruiting or hiring;

    

    (iii) interfere
      with the relationship of the Companies with any of their employees, agents,
      or
      representatives;

    

    (iv) solicit
      or induce, or in any manner attempt to solicit or induce, any client, customer,
      or prospective client or customer of the Companies (1) to cease being, or not
      to
      become, a customer of the Companies or (2) to divert any business of such
      client, customer, or prospective client or customer from the Companies;
      or

    

    (v) otherwise
      interfere with, disrupt, or attempt to interfere with or disrupt, the
      relationship, contractual or otherwise, between the Companies and any of their
      customers, clients, prospects, suppliers, consultants, or employees.

    

    (c) You
      agree
      that during the period of your employment with Target, and for a period ending
      with the expiration of six months following your termination of employment
      with
      Target, you shall not, without the written consent of Target, either
      individually or as an officer, director, stockholder, member, partner, agent,
      consultant or principal of another business firm engage in, or be connected
      in
      any manner with, any business operating anywhere in the world (whether as an
      employee, consultant, agent, principal, director, officer, member, partner
      or
      shareholder, other than as a passive shareholder of a public company of which
      you own less than 1%) that is in direct competition with any freight forwarding
      or logistics services business of the Companies, or any other current or planned
      business of the Companies of which you are aware (“Competitive Business”) or be
      employed by any entity or person that controls a Competitive Business. For
      purposes of this letter, “freight forwarding” means the sale, solicitation,
      acceptance of and arrangement for the movement of freight either domestically
      or
      internationally. The Companies or any Person who acquires 25% or more of
      Target’s Voting Securities in a Change in Control shall bear the burden of
      proving a breach of this Section 6(c).

    

    (d) You
      agree
      to cooperate with the Companies and to provide all information that the
      Companies may hereafter reasonably request with respect to any matter involving
      your present or former relationship with the Companies, the work you have
      performed, or present or former employees of the Companies so long as such
      requests do not unreasonably interfere with any other job or important personal
      activity in which you are engaged. Target agrees to reimburse you for all
      reasonable costs and expenses you incur in connection therewith.

    

    (e) You
      agree
      that, with regard to all confidential technical, business, tax, financial or
      proprietary knowledge and information you have obtained while employed by any
      of
      the Companies (“Proprietary
      Information”),
      you
      will not at any time disclose any such Proprietary Information to any person,
      firm, corporation, association, governmental agency, employee, or entity or
      use
      any such Proprietary Information for your own benefit or for the benefit of
      any
      other person, firm, corporation or other entity, except the Companies and except
      as may be required by court order or subpoena. You agree to notify Target as
      soon as practicable after your receipt of such a court order or subpoena. For
      purposes of this letter agreement, the term “Proprietary Information” does not
      include information that (i) is in the public domain, (ii) was known to you
      prior to your employment with the Companies as evidenced by written records
      in
      your possession prior to such disclosure; or (iii) was lawfully disclosed to
      you
      following the end of your employment with the Companies by a third party under
      no obligation of confidentiality.

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

    

    7. Binding
      Agreement; Successors.
      This
      letter agreement shall not be terminated by any Change in Control. In the event
      of any Change in Control, the provisions of this letter agreement shall be
      binding upon the surviving corporation, and such surviving corporation shall
      be
      treated as Target hereunder. This letter agreement shall inure to the benefit
      of
      and be enforceable by your personal or legal representatives, executors,
      administrators, successors, heirs, distributees, devisees and legatees. If
      you
      die while any amounts would be payable to you hereunder had you continued to
      live, all such amounts, unless otherwise provided herein, shall be paid in
      accordance with the terms of this letter agreement to such person or persons
      appointed in writing by you to receive such amounts or, if no person is so
      appointed, to your estate.

    

    8. Governing
      Law and Miscellaneous.
      The law
      of the State of Maryland shall govern this letter agreement without giving
      effect to its conflict of law principles. Should a court of competent
      jurisdiction find that any provision of this letter agreement is void, voidable,
      illegal, or unenforceable, no other provision shall be affected thereby and
      the
      balance shall be interpreted in a manner that gives effect to the intent of
      the
      parties. The parties agree that the normal rule of construction that holds
      that
      all ambiguities are construed against the drafting party will not apply to
      the
      interpretation of this letter agreement. You and Target acknowledge that this,
      along with the release attached as Exhibit
      A,
      is our
      entire agreement. We further acknowledge that the headings in this letter
      agreement are for convenience only and have no bearing on the meaning of this
      letter agreement. 

    

    Please
      sign and date this letter agreement and return the signed copy to the Company
      at
      500 Harborview Drive, Third Floor, Baltimore, Maryland 21230.

    
      	 	 	 
	 	Very
              truly
              yours,
	 
 	 
 	 
 
	
            	 	/s/ 
	 	
              

              Stuart
                Hettleman

              President

            
	 	
            

    

    

    

      AGREED
        AND ACKNOWLEDGED:

    

    

    

    /s/
      
      
        

      

    

    Philip
      J.
      Dubato

    September
      17, 2007

    

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

    Exhibit
      A 

    

    GENERAL
      EXECUTIVE RELEASE AND WAIVER

    

    Reference
      is made
      to that
      certain letter agreement dated September 17, 2007 by and between Target
      Logistics, Inc.,
      a
      Delaware corporation (“Target”),
      and
      the undersigned with respect to the terms of severance payments upon a change
      in
      control of Target (the “CIC
      Agreement”).
      Capitalized terms not defined herein shall have the meaning ascribed to such
      terms in the CIC Agreement. 

    

    For
      good
      and valuable consideration,
      as set
      forth in the CIC Agreement (which is incorporated herein by reference as if
      set
      forth fully herein and made a part hereof), the receipt, sufficiency and
      adequacy of which are hereby acknowledged the undersigned agrees as follows:
      

    

    1. Acknowledgment
      and Release.
      The
      undersigned hereby accepts the severance package provided under the CIC
      Agreement and hereby releases, discharges, and agrees to hold harmless the
      Companies, their predecessors, successors, their boards of directors and their
      members, employees, officers, parent, shareholders, employee benefit plans
      and
      their plan administrators, trusts, trustees, heirs, successors, and assigns
      (hereinafter referred to in this Release collectively as the “Releasees”),
      from
      all claims, liabilities, demands, and causes of action at law or equity, known
      or unknown, fixed or contingent, which the undersigned has, may have, will
      have,
      or claims to have against the Releasees as a result of the undersigned’s
      employment and/or this separation and the conclusion of the undersigned’s
      employment with the Releasees at any time up to and including the date of the
      execution of this letter agreement, excluding all claims that arise out of
      an
      asserted breach of the CIC Agreement. The undersigned’s agreement pursuant to
      this General Executive Release and Waiver is hereinafter referred to as the
      “Release”.
      This
      includes, but is not limited to, claims arising under federal, state, or local
      laws prohibiting employment discrimination, including Title VII of the Civil
      Rights Act of 1964, as amended, the Age Discrimination in Employment Act, as
      amended (including the Older Workers Benefit Protection Act), the Employment
      Retirement Income Security Act of 1974, as amended, the Equal Pay Act, the
      Fair
      Labor Standards Act, as amended, the Maryland Human Relations Act, the Maryland
      Wage Payment and Collection Act, as amended, claims growing out of any legal
      restrictions on an employer’s right to terminate its employees in any
      jurisdiction, such as claims for wrongful or constructive discharge, breach
      of
      any express or implied contract, and/or any claims on any basis whatsoever
      regarding the undersigned’s status, pay, position, or title while employed by
      the Releasees. Excluded from this Release are claims which cannot be lawfully
      waived, including the right to file an administrative charge of discrimination
      with federal or state agencies. However, the undersigned is waiving all rights
      to monetary recovery in connection with any such charge. The undersigned
      specifically promises not to sue the Releasees in any forum for any of the
      above-mentioned claims. 

    

    2. Governing
      Law.
      Except
      to the extent governed by Federal law, the law of the State of Maryland shall
      govern this Release without giving effect to its conflict of law principles.
      Should a court of competent jurisdiction find that any provision of this Release
      is void, voidable, illegal, or unenforceable, no other provision shall be
      affected thereby and the balance shall be interpreted in a manner that gives
      effect to the intent of the parties. The parties agree that the normal rule
      of
      construction that holds that all ambiguities are construed against the drafting
      party will not apply to the interpretation of this Release. 

    

    3. Time
      to Consider.
      The
      undersigned acknowledges that he has been advised that he has [twenty-one
      (21)] days
      from
      the date of receipt of this Release to consider all the provisions of the
      Release and does hereby knowingly and voluntarily waive said given twenty-one
      day period. THE UNDERSIGNED FURTHER ACKNOWLEDGES THAT HE HAS READ THE RELEASE
      CAREFULLY, HAS BEEN ADVISED BY TARGET TO, AND HAS IN FACT, CONSULTED AN
      ATTORNEY, AND FULLY UNDERSTANDS THAT BY SIGNING BELOW HE IS GIVING UP CERTAIN
      RIGHTS WHICH HE MAY HAVE TO SUE OR ASSERT A CLAIM AGAINST THE RELEASEES AS
      DESCRIBED HEREIN. THE UNDERSIGNED ACKNOWLEDGES THAT HE HAS NOT BEEN FORCED
      OR
      PRESSURED IN ANY MANNER WHATSOEVER TO SIGN THIS RELEASE AND AGREES TO ALL OF
      ITS
      TERMS VOLUNTARILY.

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

    

    4. Revocation.
      The
      undersigned reserves the right to revoke the Release within seven (7) days
      from
      the date of the execution of the Release, with respect to all claims referred
      to
      herein (including, without limitation, any and all claims arising under ADEA).
      If the undersigned revokes the Release, Target will not be obligated to honor
      its obligations under the CIC Agreement.

    

    5. No
      Admission.
      This
      Release does not constitute an admission of liability or wrongdoing of any
      kind
      by the undersigned.

    

    In
      witness whereof,
      the
      undersigned has executed this Release as of the ___ day of _____________,
      2007.

    

    

    ________________________________

    Philip
      J.
      Dubato

    
      
        
        

      

      
        -7-AGREEMENT
      FOR PURCHASE AND SALE OF ASSETS

    

    This
      Agreement for Purchase and Sale of Assets (“Agreement”) is made as of September
      14, 2007 by and among MTI Partners II, L.P. (“MTI-II” or “Seller”), a limited
      partnership with a principal business address of 5825 Glenridge Drive, Building
      3, Suite 255, Atlanta, Georgia, and Modern Medical Modalities Corporation
      (“MMMC” or “Buyer”), a New Jersey corporation with a principal business address
      of 439 Chestnut Street, Union, New Jersey.

    

    1. Sale
      and Transfer of Assets.
      Subject
      to the terms and conditions set forth in this Agreement, Seller agrees to sell,
      convey, transfer, assign, and deliver to Buyer, and Buyer agrees to purchase
      from Seller, the assets (“Assets”) of Seller as described on Exhibit “A”
hereto.

    

    2. Consideration
      From Buyer at Closing.
      As full
      payment for the transfer of the Assets to Buyer, at the closing (“Closing”) of
      the sale of Assets, Buyer shall deliver to Seller a stock certificate(s) in
      the
      name of Seller, or its assigns, representing 500,000 shares of MMMC common
      stock, and a stock warrant agreement in the name of Seller, or its assigns,
      representing 900,000 shares of MMMC common stock at $0.70
      per
      share exercise price, and shall pay $250,000 USD within 12 months from the
      date
      of this agreement to Seller, or its assigns as specified in Exhibit “B” (which
      collectively represents the “Purchase Price”). 

    

    3. Assumption
      of Liabilities.
      It is
      expressly understood and agreed that Buyer shall not be liable for any of the
      obligations or liabilities of Seller of any kind and nature. 

    

    4. Taxes.
      Seller
      shall be responsible and shall pay all taxes of any kind or character relating
      to the Assets, if any. Furthermore, Seller shall be responsible for the payment
      of any transfer taxes of any kind or character arising from the sale and
      transfer of the Assets pursuant to this Agreement.

    

    5. Representations
      and Warranties of Seller.
      Seller
      represents and warrants, that:

    

    5.1 Debts,
      Obligations and Liabilities.
      Seller
      does not have any debts, liabilities, or obligations of any nature, whether
      accrued, absolute, contingent, or otherwise, whether due or to become due,
      related to or encumbering the Assets. 

    

    5.2 Tax
      Returns Filed.
      Within
      the times and in the manner prescribed by law, Seller has filed all tax returns
      required by law and has paid all taxes, assessments and penalties due and
      payable. There are no present disputes as to taxes of any nature payable by
      Seller. Seller will provide Buyer with copies of all tax returns filed for
      the
      last three fiscal years if requested by Buyer.

    

    5.3 Trade
      Names, Trademarks and Copyrights.
      Exhibit
“C” to this Agreement is a schedule of all trade names, trademarks, service
      marks and copyrights and their registrations, if any, owned by Seller or in
      which Seller has any rights or licenses, solely as they relate to the Assets.
      Seller has no knowledge of any infringement or alleged infringement by others
      of
      any such trade name, trademark, service mark or copyright. Seller has not
      infringed, and is not now infringing, on any trade name, trademark, service
      mark
      or copyright belonging to any other person. Seller has the right to sell or
      assign to Buyer all owned trademarks, trade names, service marks and copyrights,
      and all such licenses or other rights.

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    5.4 Trade
      Secrets
      As they
      relate to the Assets, Seller is the sole owner of each of these trade secrets,
      free and clear of any liens, encumbrances, restrictions, or legal or equitable
      claims of others. Seller has taken all reasonable security measures to protect
      the secrecy, confidentiality and value of these trade secrets. Any of Seller’s
      partners or employees and any other persons who, either alone or in concert
      with
      others, developed, invented, discovered, derived, programmed or designed these
      secrets, or who have knowledge of or access to information relating to them,
      have been put on notice and, if appropriate, have entered into agreements that
      these secrets are proprietary to Seller and are not to be divulged or
      misused.

    

    5.5 No
      Competition.
       In
      consideration for the purchase of the Assets, Seller agrees that it will not,
      for a period of two years from the date of this agreement, directly or
      indirectly engage in, or have any interest in any person, firm, corporation,
      or
      business that produces, manufactures, develops, markets, purchases, or sells
      medical software that is competitive with the Assets. Furthermore, neither
      Seller nor any of its employees or partners shall disclose, divulge,
      communicate, use to the detriment of Buyer or for the benefit of any other
      person or persons, or misuse in any way any confidential information or trade
      secrets, including technology information, secret processes, know-how, formulas
      or other technical data transferred by Seller to Buyer.

    

    5.6 Title
      to Assets.
      Seller
      has good and marketable title to all the Assets and interests in the Assets,
      whether real, personal, mixed, tangible, or intangible, which constitute all
      the
      Assets and interests in the Assets that Seller is transferring to Buyer. The
      Assets are free and clear of restrictions on or conditions to transfer or
      assignment, and free and clear of mortgages, liens, pledges, charges,
      encumbrances, equities, claims, easements, covenants, conditions or
      restrictions, the lien of current taxes not yet due and payable and possible
      minor matters that, in the aggregate, are not substantial in amount and do
      not
      materially detract from or interfere with the present or intended use of the
      Assets. 

    

    5.7 Compliance
      with Laws.
      Seller
      has complied with, and is not in violation of, any statute, law or regulation
      affecting the Assets.

    

    5.8 Litigation.
      There
      is not pending, and Seller is unaware of any threatened suit, action,
      arbitration or legal, administrative or other proceeding, or governmental
      investigation, against or affecting the Assets. 

    

    5.9 Agreement
      Will Not Cause Breach or Violation.
      The
      consummation of the transaction contemplated by this Agreement will not result
      in or constitute any of the following: (1) a default or an event that, with
      notice or lapse of time or both, would be a default, breach or violation of
      any
      lease, license, promissory note, conditional sales contract, commitment,
      indenture, mortgage, deed of trust, or other agreement, instrument or
      arrangement to which Seller is a party or by which the Assets are bound; (2)
      an
      event that would permit any party to terminate any agreement or to accelerate
      the maturity of any indebtedness or other obligation of Seller related to the
      Assets; or (3) the creation or imposition of any lien, charge or encumbrance
      on
      the Assets.

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    5.10 Authority
      and Consents.
      Seller
      has the right, power, legal capacity and authority to enter into and perform
      its
      obligations under this Agreement, and no approvals or consents of any
      governmental authorities or persons other than Seller are necessary in
      connection with it. The execution and delivery of this Agreement by Seller
      has
      been duly authorized by all necessary corporate action on the part of
      Seller.

    

    5.11 Full
      Disclosure.
      None of
      the representations and warranties made by Seller in this Agreement, or made
      in
      any certificate or memorandum furnished or to be furnished by Seller, contains
      or will contain any untrue statement of a material fact, or omits to state
      a
      material fact, necessary to make the statements made not misleading. All
      representations and warranties of Seller included in this Agreement and in
      any
      written statements delivered to Buyer under this Agreement will be true and
      correct as of the Closing Date as if made on that date.

    

    6. Indemnification
      and Survival of Representations and Warranties.

    

    6.1 Survival
      of Representations, Warranties, Covenants and Agreements.
      The
      representations, warranties, covenants, agreements and undertakings of Seller
      set forth herein shall survive the Closing.

    

    6.2 Indemnification
      by Seller.
      Seller
      shall indemnify, defend and hold harmless Buyer and its past and present
      officers, directors, affiliates, agents and representatives against and in
      respect of any and all claims, demands, losses, costs, expenses, obligations,
      liabilities, damages, recoveries and deficiencies, including interest, penalties
      and reasonable attorney’s fees, that Buyer shall incur or suffer that arise,
      result from or relate to any breach or inaccuracy of, or failure by Seller
      to
      perform, any of its representations, warranties, covenants or agreements in
      this
      Agreement or in any schedule, certificate, exhibit or other instrument furnished
      or to be furnished by Seller under this Agreement. Specifically, without
      limiting the foregoing, Seller shall be solely responsible for the payment
      of
      any sums incurred as a result of any claim of intellectual property infringement
      by a third party with respect to the Assets.

    

    7. Mutual
      Conditions Precedent.
      The
      closing of this transaction will be conditioned upon:

    

    7.1 The
      completion, and MMMC’s satisfaction with the results thereof, of MMMC’s due
      diligence investigation of the Assets.

    

    

    7.2 Approval
      must be obtained by the Board of Directors of MMMC and the General Partner
      of
      MTI-II. 

     

    

    8. Seller’s
      Obligations Before Closing.
      Seller
      covenants that from the date of this Agreement until the Closing:

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    8.1 Buyer’s
      Access to Premises and Information.
      Buyer
      and its counsel, accountants and other representatives shall have full access
      during normal business hours to all properties, books, accounts, records,
      contracts and documents of or relating to the Assets. Seller shall furnish
      or
      cause to be furnished to Buyer and its representatives all data and information
      concerning the Assets that may be reasonably requested.

    

    8.2 Conduct
      of Business in Normal Course.
      Seller
      will carry on its business and activities diligently and in substantially the
      same manner as it previously has been carried out and shall not make or
      institute any unusual or novel methods of manufacture, purchase, sale,
      management, accounting or operation that vary materially from those methods
      used
      by Seller as of the date of this Agreement.

    

    8.3 Existing
      Agreements.
      Seller
      will not modify, amend, cancel or terminate any existing contracts or
      agreements, solely related to the Assets, without the written consent of
      Buyer.

    

    9. Buyer’s
      Obligations Before Closing.
      Buyer
      agrees that, unless and until the Closing has been consummated, Buyer will
      hold
      in strict confidence, and will not use to the detriment of Seller, all data
      and
      information with respect to the Assets obtained in connection with this
      transaction. If the transaction contemplated by this Agreement is not
      consummated, Buyer will return to Seller all the data and information that
      Seller may reasonably request. Whether or not the Closing shall take place,
      Seller shall waive any cause of action, right or claim arising out of the access
      of Buyer or its representatives to any trade secrets or other confidential
      business information from the date of this Agreement until the Closing Date,
      except for the intentional competitive misuse by Buyer or its representatives
      of
      such trade secrets or other confidential business information if the Closing
      does not take place.

    

    10. Cooperation
      in Securing Consents of Third Parties.
      Buyer
      will use its best efforts to assist Seller in obtaining the consent of all
      necessary persons and agencies to the assignment and transfer to Buyer of the
      Assets to be assigned and transferred under the terms of this
      Agreement.

    

    11. Conditions
      Precedent to Buyer’s Performance.
      The
      obligations of Buyer to purchase the Assets under this Agreement are subject
      to
      the satisfaction, at or before the Closing, of all the conditions set out below.
      Buyer may waive any or all of these conditions in whole or in part, provided,
      however, that no such waiver of a condition shall constitute a waiver by Buyer
      of any of its other rights or remedies, at law or in equity, if Seller shall
      be
      in default of any representation, warranty or covenant under this
      Agreement.

    

    11.1 Accuracy
      of Seller’s Representations and Warranties.
      Except
      as otherwise permitted by this Agreement, all representations and warranties
      of
      Seller included in this Agreement or in any written statement that shall be
      delivered to Buyer under this Agreement shall be true on and as of the Closing
      Date as though made at that time.

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    11.2 Performance
      by Seller.
      Seller
      shall have performed, satisfied and complied with all covenants, agreements
      and
      conditions required by this Agreement to be performed or complied with by each
      of them, on or before the Closing Date.

    

    11.3 No
      Material Adverse Change.
      Prior
      to the Closing Date, Seller shall not have sustained any material loss or damage
      to the Assets. For purposes of this Agreement, changes,
      loss or damage shall be deemed to be “material” or “materially adverse” if the
      cost to remedy any such individual change or aggregate of changes shall equal
      or
      exceed One Thousand U.S. Dollars (U.S. $1,000).

    

    11.4 Buyer’s
      Inspection.
      Buyer
      shall make, or cause to be made, such investigation as it deems necessary or
      advisable of the Assets. Buyer shall have the right to terminate this Agreement
      if, as a result of its investigation, it is
      not
      satisfied with any of its findings.

    

    11.5 Due
      Approval.
      The
      execution and delivery of this Agreement by Seller and the performance of its
      covenants and obligations under it will be duly authorized by all necessary
      action by Seller and Buyer shall receive copies of all materials pertaining
      to
      that authorization, certified by Seller as true and correct.

    

    12. Conditions
      Precedent to Seller’s Performance.
      The
      obligations of Seller to sell and transfer the Assets under this Agreement
      are
      subject to the satisfaction, at or before the Closing, of all of the following
      conditions. Seller may waive any or all of these conditions in whole or in
      part,
      however, no such waiver of a condition shall constitute a waiver by Seller
      of
      any of its rights or remedies, at law or in equity, if Buyer should be in
      default of any of its representations, warranties or covenants under this
      Agreement.

    

    12.1 Accuracy
      of Buyer’s Representations and Warranties.
      All
      representations and warranties by Buyer contained in this Agreement or in any
      written statement delivered by Buyer under this Agreement shall be true on
      and
      as of the Closing Date as though such representations and warranties were made
      on and as of that date.

    

    12.2 Buyer’s
      Performance.
      Buyer
      shall have performed and complied with all covenants and agreements and
      satisfied all conditions that it is required by this Agreement to perform,
      comply with or satisfy, before or at the Closing.

    

    12.3 Buyer’s
      Corporate Approval.
      The
      Board of Directors of Buyer shall have duly authorized and approved the
      execution and delivery of this Agreement and all corporate action necessary
      or
      proper to fulfill the Buyer’s obligations to be performed under this Agreement
      on or before the Closing Date.

    

    12.4 Buyer’s
      Stock Value. At
      the
      Closing, Buyer shall deliver to Seller a stock certificate(s)
      in the name of the seller, or its assigns, representing 500,000 shares of MMMC
      common stock, and shall deliver to Seller a stock warrant agreement(s) in the
      name of the Seller, or its assigns, representing 900,000 shares of MMMC common
      stock exercisable at $0.70
      per
      share.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    13. The
      Closing.
      The
      transfer of the Assets by Seller to Buyer shall take place on or before
      September 30, 2007 (the “Closing Date”) at MTI-II Partners, L.P 5825 Glenridge
      Drive, Building 3, Suite 255, Atlanta, Georgia 30328 or at such other time
      and
      place as the parties may agree to in writing (“Closing Date”).

    

    13.1 Seller’s
      Obligations at Closing.
      At the
      Closing, Seller shall deliver or cause to be delivered to Buyer:

    

    (a) a
      Bill of
      Sale, in the form attached hereto as Exhibit “D” pertaining to all the Assets
      being transferred pursuant to the terms of this Agreement;

    

    (b) a
      certificate executed by Seller certifying that all of Seller’s representations
      and warranties under this Agreement are true as of the Closing Date, as though
      each of those representations and warranties had been made on that date;
      and

    

    (c)
      tax
      clearances issued by all taxing authorities, if applicable. 

    

    Simultaneously,
      with the consummation of the transfer, Seller will put Buyer into full
      possession and enjoyment of the Assets to be conveyed and transferred pursuant
      to this Agreement.

    

    Seller,
      at any time before the Closing Date, will execute, acknowledge and deliver
      any
      further deeds, assignments, conveyances, and other assurances, documents and
      instruments of transfer, reasonably requested by Buyer, and will take any other
      action consistent with the terms of this Agreement that may reasonably be
      requested by Buyer for the purpose of assigning, transferring, granting,
      conveying and confirming to Buyer, or reducing to possession, any or all Assets
      to be conveyed and transferred under this Agreement. If requested by Buyer,
      Seller further agrees to prosecute or otherwise enforce in its own name, for
      the
      benefit of Buyer, any claims, rights or benefits that are transferred to Buyer
      under this Agreement and that require prosecution or enforcement in Seller’s
      name.

    

    13.2 Buyer’s
      Obligations at Closing.
      At the
      Closing, Buyer shall deliver or cause to be delivered to Seller :

    

    (a)
      certificates representing the Shares as specified in paragraph 2;
      and

    

    (b) warrant
      agreement(s) representing the Shares as specified in paragraph
      2; and

    

    (c) certified
      resolutions of Buyer’s board of directors authorizing the execution and
      performance of this Agreement and all actions to be taken by Buyer under this
      Agreement.

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

    14. Publicity.
      All
      notices to third parties and all other publicity concerning the transactions
      contemplated by this Agreement shall be jointly planned and coordinated by
      and
      between Buyer and Seller. No party shall act unilaterally in this regard without
      the prior written approval of the other, however, this approval shall not be
      unreasonably withheld. This clause specifically excludes any required regulatory
      filings with the SEC by MMMC

    

    15. Expenses.
      Each
      party shall pay all costs and expenses incurred or to be incurred by it in
      negotiating and preparing this Agreement and in closing and carrying out the
      transactions contemplated by this Agreement, with the exception of all expenses
      incurred in transferring the Assets, removing liens, and obtaining all necessary
      government approvals for this transfer and sale, which expenses shall be borne
      solely by Seller.

    

    16. Miscellaneous.

    

    16.1 Governing
      Law.
      This
      Agreement shall be deemed to be made in, and in all respects shall be
      interpreted, construed and governed by and in accordance with the laws of the
      state of New Jersey, United States of America.

    

    16.2 Venue
      and Arbitration.
      Any
      dispute between Buyer and Seller involving the interpretation of this Agreement
      or the obligations of a party to it shall be determined by binding arbitration
      in accordance with the arbitration rules of the American Arbitration Association
      in the County of Fulton, State of Georgia, United States of America. The
      arbitrator shall have the authority to permit discovery upon request of a party.
      The cost of the arbitration shall be shared equally.

    

    16.3 Notices.
      All
      notices, demands, requests, consents, approvals or other communications
      (“Notices”) given hereunder shall be in writing, and shall be given by personal
      delivery or by express mail, Federal Express, DHL or other similar form of
      recognized airborne/overnight delivery service (which forms of Notice shall
      be
      deemed to have been given upon delivery), or by telex or facsimile transmission
      (which forms of Notice shall be deemed delivered upon confirmed transmission),
      or by mailing in the mail by registered or certified mail, return receipt
      requested, postage prepaid (which forms of Notice shall be deemed to have been
      given upon the tenth (10th) business day following the date mailed). Notices
      shall be addressed as follows:

    

    
      	
            	If
              to Seller, addressed to:	
              MTI-II
                Partners, L.P.

            

    

    5825
      Glenridge Drive

    Building
      3, Suite 255

    Atlanta,
      Georgia 30328

    

    
      	
            	If
              to Buyer, addressed to:	
              Modern
                Medical Modalities Corporation

            

    

    439
      Chestnut Street

    Union,
      New Jersey 07083

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

    or
      to
      such other address as to which any party hereto may have notified the others
      in
      writing.

    

    16.4 Section
      Headings.
      The
      section and paragraph headings contained in this Agreement are for reference
      purposes only and shall not in any way affect the meaning or interpretation
      of
      this Agreement.

    

    16.5 Counterparts
      and Facsimiles.
      For the
      convenience of the parties to this Agreement, this document may be executed
      by
      facsimile signatures and in counterparts which shall together constitute the
      agreement of the parties as one and the same instrument.

    

    16.6 Severability.
      If any
      provision of this Agreement or the application thereof to any party or
      circumstance shall be held invalid or unenforceable to any extent, the remainder
      of this Agreement and application of such provision to the other party or
      circumstances shall not be affected thereby and shall be enforced to the
      greatest extent permitted by applicable law. 

    

    16.7 Entire
      Agreement; Modification.
      This
      Agreement, including the Exhibits hereto, embodies the entire agreement and
      understanding among the parties hereto with respect to the subject matter
      hereof, and supersedes all prior agreements and understandings related thereto.
      The parties hereto recognize and agree that no representations or warranties
      have been made except as set forth in this Agreement and the Exhibits hereto.
      This Agreement may be modified only by a written instrument signed by each
      of
      the parties.

    

    [SIGNATURE
      PAGE FOLLOWS]

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed or caused this Agreement for Purchase and Sale
      of
      Assets to be executed as of the date first above written.

    

    
      	 	
              “BUYER”

               

              Modern
                Medical Modalities, a New Jersey corporation

               

              

              
                By:
                  ____________________________________

                 

              

               

              “SELLER”

              

              

              MTI-II
                Partners L.P., a Georgia limited partnership

              

              

              By:
                ____________________________________

            

    

     

     

    
      
         

      

      
        9

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