FedEx
      Pricing Agreement

     

    Agreement
      Number: 219889

     

    Customer
      Name: ISORAY
      MEDICAL INC.

     

    Customer,
      including any of its divisions, subsidiaries and affiliates, a majority (defined
      as 51%) of whose voting stock is directly or indirectly owned by Customer,
      and
      FedEx agree to enter into this FedEx Pricing Agreement (the "Agreement") subject
      to the following terms and conditions.

     

    
      	1.	
              Pricing.
                FedEx agrees to provide to Customer express and ground transportation
                services under the following terms.

            


    

     

     

    
      	
              (a)

            	
              Express
                Pricing.
                The effective discounts for the FedEx Express services utilized by
                Customer are attached and incorporated by reference. A courtesy copy
                of
                the applicable discounts reflected as net rates is available upon
                request
                from Customer’s FedEx sales professional. The net rate sheets are provided
                as a courtesy and are not incorporated within the Agreement. Discounts
                are
                applied to published express transportation rates in effect at the
                time of
                shipment and are not applied to special handling fees, ancillary
                or other
                charges.

            


    

     

     

    
      	
              (b)

            	
              Ground
                Pricing.
                Customer shall continue to receive its current FedEx Ground pricing
                for
                the applicable services. A courtesy copy of Customer’s pricing reflected
                as net rates is available upon request from Customer’s FedEx sales
                professional. The net rate sheets are provided as a courtesy and
                are not
                incorporated within the Agreement. FedEx will provide such services
                to
                Customer for each package that Customer drops off at FedEx World
                Service
                Centers and other participating locations as identified by FedEx
                from time
                to time. FedEx may at its sole discretion provide Customer with regularly
                scheduled pick-ups for Ground
                services.

            


    

     

     

    
      	
              (c)

            	
              Pricing
                Terms.
                The pricing provided to Customer is for Customer’s exclusive use and
                benefit and may not be resold or otherwise extended to any other
                party
                without FedEx’s prior written consent. The effective date(s) (“Effective
                Date”) of Customer’s pricing under this Agreement is set forth on the
                applicable attachments. FedEx will provide 10 days written or
                electronically transmitted notice of any changes by FedEx to Customer’s
                discounts or incentives provided pursuant to this Agreement. Only
                the
                account and barcode numbers verified by FedEx will participate in
                the
                pricing. Only the billed account and barcode number will receive
                the
                applicable discounts, incentives and revenue
                credit.

            


    

     

     

    
      	2.	
              Service
                Guide.
                Each shipment made with FedEx is subject to the terms and conditions
                of
                the FedEx Service Guide, for the country of origin, in effect at
                the time
                of shipment, which terms are incorporated by reference. FedEx reserves
                the
                right to modify the FedEx Service Guide, including a modification
                of the
                published transportation rates, at anytime without notice. Customer
                is
                directed to the FedEx website www.fedex.com for changes in the FedEx
                Service Guide. In the event there is a conflict between this Agreement
                and
                the FedEx Service Guide, the provisions of this Agreement
                control.

            


    

     

     

    
      	3.	
              Payment
                Terms.
                Payment on all accounts is due 15 days from the invoice date. However,
                invoices for duties and taxes are payable on receipt. Customer agrees
                that
                remaining current on all payables is a condition to the extension
                of
                credit, discounts and incentives. Failure to comply with payment
                terms may
                result in denial of credit or removal of applicable discounts and
                incentives.

            


    

     

     

    
      	4.	
              Automation.
                Customer agrees to use automated shipping devices when provided by
                FedEx
                at U.S. shipping locations and an agreement for the placement or
                use of
                any such shipping device shall be executed prior to such placement
                or
                use.

            


    

     

     

    
      	5.	
              Excise
                Tax.
                A
                federal excise tax, when required by the Internal Revenue Code on
                the air
                transportation portion of this service, if any, is paid by
                FedEx.

            


    

     

     

    
      	6.	
              Unexpected
                Volume.
                If
                Customer tenders packages which substantially exceed the number of
                packages tendered on average for the location by the Customer throughout
                the year, FedEx may, at its sole option, either accept such packages
                subject to waiver of Money Back Guarantees and commitment times,
                or
                decline to accept such packages without further obligation of any
                kind to
                Customer.

            


    

     

     

    
      	7.	
              Confidentiality.
                The terms, discounts and incentives of this Agreement shall be held
                in
                strict confidence by Customer and may not be disclosed to anyone
                other
                than those Customer employees who have a need to know. Nothing herein
                shall restrict Customer from disclosing any portion of such information
                on
                a restricted basis pursuant to a judicial or other lawful governmental
                order, but only to the extent of such order and only after providing
                FedEx
                with immediate notice of such order so that FedEx may contest the
                order or
                obtain a protective order, if FedEx deems
                necessary.

            


    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	8.	
              Term.
                This Agreement commences on the Effective Date and continues until
                terminated by either party.

            


    

     

     

    
      	9.	
              Termination.
                Either party may terminate this Agreement for the other party’s
                noncompliance with its terms. Either party may terminate this Agreement
                without cause and without penalty at any time upon 30 days prior
                written
                notice to the other.

            


    

     

     

    
      	10.	
              Prior
                Agreements.
                This Agreement supersedes all Pricing Agreements and Addenda, if
                any, for
                express and ground services between FedEx and Customer for the designated
                account and bar code number relating to the services and package
                types
                covered by this Agreement.

            


    

     

     

    


    
      	 ISORAY MEDICAL INC.
              (“Customer”)	 FEDERAL EXPRESS CORPORATION
              & FEDEX GROUND PACKAGE SYSTEM, INC.
	 	 
	 	 By its agent
	 	 FedEx Corporate Services, Inc.
              (“FedEx”)
	 	 
	 By: /s/
              Michael K. Dunlop	 By: /s/
              Arnold E. Wright
	 Print Name: Michael
              K. Dunlop	 Print Name: Arnold
              E. Wright
	 Title: Chief
              Financial Officer	 Title: ISAE
	 Date: 10/5/05	 Date: 10/10/05
	 	 Employee No.: 513415
	 	 
	 	 
	 Offer expires if not accepted by
              Customer within 30 days of date of presentation of Agreement.	 
	 	 
	 Any alterations to this document by
              either party will render it null and void in its entirety.