This Employment Agreement (this “Agreement”) is made as of this 5 th day of January, 2009
(“Effective Date”), by and between Veritec, Inc., a Nevada Corporation having its principal offices at
2445 Winnetka Ave. N., Suite #201, Golden Valley, Minnesota 55427 (hereinafter, “Veritec”), and
Jeffrey Hattara, an individual (hereinafter, “Employee”).
Veritec and Employee are sometimes individually referred to herein as “Party” and sometimes
collectively referred to herein as “The Parties”.
WHEREAS, Veritec is engaged in the business of designing, developing, marketing and
licensing its proprietary matrix symbol multi-dimensional bar code data storage technology for use in
a variety of industries such as banking, electronic media, manufacturing automation and biometric
WHEREAS, The Parties intend by this Agreement to define an employer-employee relationship
on the terms and subject to the conditions set forth herein and intend that this Agreement shall
establish a basis of their relationship and define their respective rights, duties and obligations.
NOW THEREFORE, in consideration of the mutual promises, covenants, warranties and
agreements set forth herein, The Parties agree as follows:
As used in this Agreement, each of the following words and terms shall have the following meaning:
“ Competitive Business ” means directly or indirectly designing, developing, making, promoting,
offering, soliciting, selling, leasing, licensing, transferring or otherwise making Competitive Products
available to third parties.
“ Competitive Products ” mean single or multi-dimensional bar code products and processes (as
well as services related thereto) manufactured or sold by anyone other than Veritec that are used in
competition with Veritec Products in any industry.
“ Confidential Information ” means any information that is not generally known to or readily
available to other persons or entities by ordinary means. Confidential Information incl