THIS EMPLOYMENT AGREEMENT, dated effective as of November 1, 2003 (the “ Agreement ”), is by and between
Vertical Health Solutions, Inc., a Florida corporation (the “ Company ”), and Stephen M. Watters (the “ Employee ”).
WHEREAS, the Company is a full-line custom-label manufacturer and distributor of nutritional supplements for
veterinarians in the companion animal sector.
WHEREAS, the Company wishes to assure itself of the services of Employee for the period provided in this Agreement
and Employee is willing to serve in the employ of the Company for such period upon the terms and conditions hereinafter set
NOW THEREFORE, in consideration of the mutual covenants herein contained, the parties, intending to be legally bound,
hereby agree as follows:
1. EMPLOYMENT . The Company hereby agrees to employ Employee upon the terms and conditions herein contained, and
Employee hereby accepts such employment for the term described below. Employee agrees to serve as the Chief Executive
Officer of the Company during the term of this Agreement and shall report to the Company’s Board of Directors. In such
capacity, Employee shall have such powers and responsibilities consistent with Employee’s position as the Chief Executive
Officer. Throughout the term of this Agreement, Employee shall devote Employee’s best efforts and substantially all of
Employee’s business time and services to the business and affairs of the Company.
2. TERM OF AGREEMENT . The three (3) year initial term of the employment under this Agreement shall commence as of the
date set forth above (the “ Effective Date ”). After the expiration of such initial three-year period, the term of Employee’s
employment hereunder shall automatically be extended without further action by the parties for successive one (1) year renewal
terms, provided that if either party gives the other party at least thirty (30) days advance written notice prior to the expiration of
the then cur