THIS AGREEMENT ("Agreement") is made and entered into as of the 25th day of April 2003 (the "Effective
Date"), by and between Comtex News Network, Inc., a Delaware corporation (the "Company"), and Raymond
P. Capece ("Executive").
A. The Company desires to retain Executive as its President and Chief Executive Officer on the terms and
conditions hereinafter set forth; and
B. Executive desires to commence such employment, on the terms and conditions hereinafter set forth.
NOW, THEREFORE, in consideration of the promises and the mutual covenants set forth herein, the parties
hereto agree as follows:
1. Employment and Term.
a. Employment. The Company hereby agrees to employ Executive and Executive hereby accepts employment as
President and Chief Executive Officer of the Company under the conditions hereinafter specified.
b. Term. Subject to earlier termination as provided in Paragraph 5, the initial term of this Agreement shall
commence on the Effective Date of this Agreement and end on the date twelve (12) months thereafter; provided,
however, this Agreement may be renewed for two successive terms of twelve (12) months each, commencing on
the first and second anniversary of the Effective Date. The Board of Directors shall notify Executive in writing of
its election to renew this Agreement at least sixty
(60) days prior to the expiration of the original or any renewal term.
a. Executive shall serve as President and Chief Executive Officer of the Company. Executive shall perform all of
his duties diligently and faithfully, and shall report to the Chairman and the Board of Directors. Executive shall be
invited to attend all meetings of the Board of Directors of the Company. Within ninety (90) days of the Effective
Date of this Agreement, Executive shall be appointed to the Board of Directors.
b. Executive shall at all times devote his entire working time, attention, energies, efforts and skills to the business
of the Company, and shall not, d