SEPARATION, RELEASE AND
This Separation , Release and Consulting Agreement ("Separation Agreement") is dated as of July 22, 2003, by
and between Comtex News Network, Inc. (the "Company") and Raymond P. Capece (the "Executive").
WHEREAS, Executive entered into an employment agreement with the Company dated as of April 25, 2003
(the "Employment Agreement"); and
WHEREAS, Executive has tendered his resignation as President and Chief Executive Officer of Company
effective as of July 22, 2003; and
NOW, THEREFORE, in consideration of the promises herein stated and other good and valuable consideration,
the receipt and adequacy of which is acknowledged by each of the parties and who intend to be legally bound by
this Separation Agreement, the parties state and agree as follows:
1. Termination of Employment Relationship. The parties hereto agree that their employment relationship
terminated as of July 22, 2003, except that the obligations of Executive under Section 6(a) of the Employment
Agreement relating to the covenant not to compete are hereby waived by the Company. In addition. the
obligations of Executive under Section 6(e) of the Employment Agreement relating to confidential information
shall continue in full force and effect. All accrued vacation leave and any unreimbursed business expenses due to
Executive through July 22, 2003 will be paid to Executive no later than August 15, 2003.
2. Cobra Eligibility and Company Payments. Executive shall be entitled to elect continuing health care coverage
under Company's health plan, at Company's expense through the last day of October 2003 and at Executive's
expense thereafter, subject to the requirements of Title X of the Consolidated Omnibus Budget Reconciliation
Act of 1985, Internal Revenue Code section 4980B, and subsequent legislation ("COBRA").
3. Consulting Agreement. Although both parties to this Separation Agreement agree that there is no obligation to
do so pursuant to the Employment Agreement, the Company hereby