EXECUTIVE EMPLOYMENT AGREEMENT OF
This Executive Employment Agreement ("AGREEMENT") is entered into between PRIVATE BUSINESS,
INC., a Tennessee corporation ("COMPANY"), and PETER S. SCULLY, a resident of Brentwood, Tennessee
("EXECUTIVE"). The Company and Executive are sometimes referred to herein as the "PARTIES."
1. Introduction. The Company has employed Executive as President of its division, RMSA ("RMSA"), since
January 1, 2002. Prior to that date, Executive was employed in various executive positions in the Company since
June 2000. Accordingly, the Company and Executive intend by this Agreement to specify the terms and
conditions of Executive's current employment relationship with the Company.
2. Employment. The Company confirms the employment of Executive and Executive hereby confirms its
acceptance of employment with the Company upon terms and conditions set forth herein, in each instance
effective January 1, 2003.
3. Duties and Responsibilities.
3.1 Extent of Service. Executive shall, during the term of this Agreement, devote such of his entire time, attention,
energies and business efforts to his duties as an executive of the Company as are reasonably necessary to carry
out his duties specified in Paragraph 3.2 below. Executive shall not, during the term of this Agreement, engage in
any other business activity (whether or not such business activity is pursued for gain, profit or other pecuniary
advantage) if such business activity would impair Executive's ability to carry out his duties hereunder.
3.2 Position and Duties. Executive shall report directly to the Company's Chief Executive Officer. Subject to the
power of the Company's Chief Executive Officer to appoint and remove officers, Executive shall serve the
Company as President and CEO of RMSA; and shall perform, faithfully and diligently, the services and functions
relating to such office (or otherwise reasonably incident to such office) as may be designated from time to time by
the Board of D