Document:

EXHIBIT 10.7

                             [eTRIALS LOGO OMITTED]

                              EMPLOYMENT AGREEMENT
                              --------------------

This EMPLOYMENT AGREEMENT (the "Agreement") is entered into by and between
etrials Worldwide, Inc., a Delaware corporation that from and after the
Effective Time shall have a principal place of business at 4000 Aerial Center
Parkway, Suite 100, Morrisville, NC 27560 (the "COMPANY"), and Michael Harte,
(the "EXECUTIVE"). This Agreement is entered into on August 22, 2005, but shall
be effective solely upon the Closing of the Merger pursuant to that certain
Merger Agreement by and among the COMPANY, CEA Acquisition Corporation, etrials
Acquisition, Inc., and certain stockholders of ETRIALS dated of even date
herewith (the "Merger Agreement"). Capitalized terms not otherwise defined
herein shall have the meanings assigned to them in the Merger Agreement.

1. EMPLOYMENT.
--------------

The COMPANY hereby employs the EXECUTIVE, and the EXECUTIVE hereby agrees to
accept employment from the COMPANY as its Senior Vice President of Strategic
Accounts. The EXECUTIVE will report to the Chief Executive Officer of the
COMPANY, and he agrees during the term of his employment under this Agreement to
perform the duties and responsibilities of such position as may be assigned him
from time to time by the Chief Executive Officer. The EXECUTIVE shall perform
his duties in a manner that is consistent with the requirements of the Delaware
General Corporation Law and the policies of the COMPANY. The EXECUTIVE further
agrees to use his best efforts to promote the interests of the COMPANY and to
devote his full

                                       1

business time and energies to the business and affairs of the COMPANY. The
EXECUTIVE may, however, engage in civic and not-for-profit activities for which
no compensation (other than reimbursement of his actual expenses incurred in
performance of such activities) is paid to him, so long as such activities do
not materially interfere with the performance of his duties to the COMPANY
hereunder.

2. TERM OF EMPLOYMENT.
----------------------

The employment under this Agreement shall commence on the Closing Date and shall
continue for a period of two (2) years thereafter, unless earlier terminated
pursuant to the provisions of this Agreement; and it shall be renewed for
successive periods of one (1) year unless either party shall give notice of
non-renewal, within sixty (60) days of the expiration of the initial two-year
term or any such one-year renewal term.

3. COMPENSATION.
----------------

         (a) BASE SALARY. As compensation for services provided to the COMPANY,
         the EXECUTIVE shall receive a salary at the annual rate of one hundred
         sixty thousand dollars ($160,000), (the "Base Salary") to be paid as
         and when other employees of the COMPANY are paid, less such payroll and
         withholding taxes as required by law to be deducted and such other
         deductions as the EXECUTIVE shall authorize in writing. The Base Salary
         shall be pro-rated for any partial month at either the commencement or
         termination of the employment. Such Base Salary shall be reviewed, and
         any increases in the amount thereof shall be determined, by the Board
         of Directors in its sole discretion at the end of each twelve-month
         period of employment during the term hereof. There shall be no decrease
         in the amount of the Base Salary below the amount stated above.

                                      -2-

         (b) COMMISSION. The EXECUTIVE shall be eligible for a sales commission
         payments, based upon factors and terms to be determined, in writing, by
         the COMPANY's Chief Executive Officer on an annual basis, with the
         approval of the COMPANY's Board of Directors.

         (c) PAYMENT. Notwithstanding anything in this Agreement to the
         contrary, the parties shall use commercially reasonable efforts to make
         all payments made pursuant to this Agreement at such times as shall not
         result in additional taxation to the EXECUTIVE pursuant to the
         provisions of Section 409A of the Internal Revenue Code of 1986, as
         amended.

4. PARTICIPATION IN BENEFIT PLANS, REIMBURSEMENT OF BUSINESS EXPENSES.
----------------------------------------------------------------------

         (a) BENEFIT PLANS. During the term of this Agreement, the EXECUTIVE
         shall be provided with medical insurance, life and disability
         insurance, vacation benefits (four (4) weeks), sick leave benefits,
         holidays, car allowance of seven hundred fifty dollars ($750) per month
         and other benefits which are not less than, and on terms no less
         favorable than, those that the COMPANY provides generally to its other
         executive employees, if any. EXECUTIVE (and any dependents) must meet
         the eligibility requirements of any such plans as a condition to his
         (and their) participation.

         (b) REIMBURSEMENT OF BUSINESS EXPENSES. During the term of this
         Agreement, the COMPANY shall reimburse the EXECUTIVE promptly for all
         reasonable expenditures fees incurred by the EXECUTIVE in the course of
         performing services pursuant to this Agreement, which expenses may
         include, but are not limited to, travel (but excluding expenses arising
         in connection with the use of EXECUTIVE's personal automotive vehicles,
         which are intended to be covered by the allowance referred to in
         paragraph (a), above), entertainment, meetings, parking, publications,
         association dues, and conference, provided

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         that the EXECUTIVE provides proper evidence of such expenses and
         submits his requests for reimbursement in accordance with the policies
         and procedures of the COMPANY then in effect.

5. TERMINATION OF EMPLOYMENT.
-----------------------------

The EXECUTIVE'S employment hereunder may be terminated only as follows:

         (a) WITHOUT CAUSE BY THE COMPANY. The COMPANY may terminate the
         EXECUTIVE'S employment hereunder without Cause (as defined in paragraph
         (b), below), only upon action by the COMPANY's Board of Directors, and
         upon not less than ten (10) days' prior written notice to the
         EXECUTIVE.

         (b) FOR CAUSE, BY THE COMPANY. The COMPANY (which for purposes of this
         paragraph (b) shall include ETRIALS) may terminate the EXECUTIVE'S
         employment hereunder for Cause immediately and with prompt notice to
         the EXECUTIVE, which Cause shall be determined in good faith solely by
         the COMPANY's Board of Directors, after providing the EXECUTIVE with
         written notice and an opportunity to be heard. "Cause" for termination
         shall include the following conduct of the EXECUTIVE:

                  (i) Material breach of this Agreement by the EXECUTIVE, which
                  breach shall not have been cured by the EXECUTIVE within
                  thirty (30) days of receipt of written notice of said breach;

                  (ii) Willful misconduct as an employee of the COMPANY that
                  results in material economic detriment to the COMPANY,
                  including but not limited to: intentionally misappropriating
                  any funds or property of the COMPANY; attempting to willfully
                  obtain any personal profit from any transaction in which the
                  EXECUTIVE has an interest with is adverse to the interests of
                  the COMPANY; or any other act or omission which substantially
                  impairs the COMPANY'S ability to conduct its business in its
                  usual manner;

                  (iii) Neglect or unreasonable refusal to perform the material
                  duties and responsibilities assigned to the EXECUTIVE by the
                  Board of Directors or pursuant to this Agreement after written
                  warning from the COMPANY specifying the duties or
                  responsibilities which the EXECUTIVE has failed to perform;

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                  (iv) Actions by the EXECUTIVE which expose the COMPANY to
                  substantial liability such, including, without limitation,
                  discrimination or sexual harassment;

                  (v) Violations of any written policy of the COMPANY, including
                  its insider trading policy and ethics policy, if the EXECUTIVE
                  knows or should know the action or omission of EXECUTIVE which
                  constitutes a violation of these policies;

                  (vi) Violation of, by the EXECUTIVE, or causing the COMPANY to
                  violate, any securities laws, rules or regulations or
                  violation of any whistleblower protection policy of the
                  COMPANY or applicable law;

                  (vii) Any attempt to mislead, or unduly influence, whether or
                  not successful, the independent auditors of the COMPANY, if
                  the Board of Directors determines the action or omission was
                  intentional;

                  (viii) Failure to maintain internal financial processes,
                  systems and controls consistent with the recommendations of
                  the independent auditors, the members of the Audit Committee
                  or the Board of Directors or applicable law, rules or
                  regulations;

                  (ix) Any failure to disclose a material fact about the COMPANY
                  to the Board of Directors, if the Board of Directors
                  determines the failure was intentional;

                  (x) Causing the COMPANY to take any action which would cause
                  EXECUTIVE to earn any bonus, if the Board of Directors
                  determines the action was taken in bad faith; and

                  (xi) Conviction of a felony.

         (c) FOR GOOD REASON BY THE EXECUTIVE. The EXECUTIVE may terminate
         employment hereunder for Good Reason immediately and with prompt notice
         to the COMPANY, subject to Section 11 of this Agreement. "Good Reason"
         for termination by the EXECUTIVE shall be limited to the following
         conduct of the COMPANY:

                  (i) Material breach of any provision of this Agreement by the
                  COMPANY, which breach shall not have been cured by the COMPANY
                  within thirty (30) days of receipt of written notice of said
                  breach; and

                  (ii) The assignment to the EXECUTIVE of duties inconsistent
                  with the EXECUTIVE'S position, authority, duties or
                  responsibilities as contemplated by Section 1 of the
                  Agreement, or any other action by the COMPANY which results in
                  a material diminution of such position, authority, duties or
                  responsibilities, or which materially impair the EXECUTIVE'S
                  ability to function, excluding for this purpose

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                  any isolated action not taken in bad faith and which is
                  promptly remedied by the COMPANY after receipt of written
                  notice thereof given by the EXECUTIVE. Notwithstanding the
                  foregoing, suspension of the EXECUTIVE while the Board of
                  Directors conducts any investigation into the conduct of the
                  EXECUTIVE or the removal of authority or responsibility of the
                  EXECUTIVE over any matter or person or any action to avoid or
                  decrease liability exposure, taken on advice of legal counsel
                  to the COMPANY shall not constitute Good Reason.

         (d) DEATH. The period of employment of the EXECUTIVE hereunder shall
         terminate automatically in the event of his death.

         (e) DISABILITY. In the event that the EXECUTIVE shall be unable to
         perform the duties hereunder for a period of one hundred eighty (180)
         consecutive days by reason of disability as a result of illness,
         accident or other physical or mental incapacity or disability, the
         COMPANY may, in its discretion, by giving written notice to the
         EXECUTIVE, terminate the EXECUTIVE'S employment hereunder as long as
         the EXECUTIVE is still disabled on the effective date of such
         termination.

6. COMPENSATION IN THE EVENT OF TERMINATION.
--------------------------------------------

In the event that the EXECUTIVE'S employment pursuant to this Agreement
terminates prior to the end of the Term of this Agreement for a reason provided
in Section 5 hereof, or in the event the Term is not renewed pursuant to Section
2 hereto, the COMPANY shall pay the EXECUTIVE compensation as set forth below:

         (a) TERMINATION BY THE EXECUTIVE FOR GOOD REASON OR BY THE COMPANY
         WITHOUT CAUSE. In the event that the EXECUTIVE'S employment hereunder
         is terminated (i) by the COMPANY without Cause, (ii) by the EXECUTIVE
         for Good Reason, (iii) by the EXECUTIVE refusing to renew this
         Agreement for Good Reason, or (iv) by the COMPANY refusing to renew
         this Agreement without Cause, then the COMPANY shall provide the
         EXECUTIVE the following severance benefits (the "Severance Benefits"):

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                  (i) Annual Base Salary and other Compensation as set forth in
                  Section 3 hereof that was earned up until the date of
                  termination, as well as any unreimbursed expenses;

                  (ii) Base Salary at one hundred percent (100%) of the
                  annualized rate in effect on the date of termination, for
                  twelve (12) months after termination of employment (the
                  "Salary Continuation Period") payable as and when employees of
                  the COMPANY are paid in accordance with normal payroll
                  procedures; provided that in the event such termination is as
                  a result of a Change in Control as defined in Section 6(b),
                  below, then the Salary Continuation Period shall be eighteen
                  (18) months.

                  (iii) Any unpaid bonus the Board of Directors previously
                  determined was earned by the EXECUTIVE, unless at the time of
                  such determination the Board of Directors was not aware of
                  facts which it reasonably would have taken into account had
                  such facts been known.

                  (iv) Continuing coverage for the EXECUTIVE and his eligible
                  dependents, under all of the COMPANY'S medical and dental
                  benefit plans, programs and policies in effect as of the date
                  of termination if permitted under the COMPANY'S plans until
                  the earlier of the Salary Continuation Period or the date, or
                  dates, that he becomes eligible for equivalent coverage and
                  benefits under the plans and programs of a subsequent
                  employer, provided that if by the terms of such benefit plans,
                  the EXECUTIVE or his family cannot be covered after
                  termination of employment, the COMPANY shall make reasonable
                  efforts to obtain or pay for equivalent coverage for the
                  EXECUTIVE, provided the EXECUTIVE and his family are insurable
                  and further provided that the COMPANY shall not be required to
                  pay more than $10,000.

                  (vi) Notwithstanding any COMPANY policy to the contrary,
                  payment of up to sixty (60) days of accrued but unused
                  vacation time for the period from the commencement of
                  EXECUTIVE's employment with the COMPANY through the
                  EXECUTIVE'S effective date of termination.

                  (vii) All unvested stock options granted to the EXECUTIVE that
                  are scheduled to vest within a one (1) year period after the
                  termination date shall immediately vest and remain exercisable
                  for a period of one (1) year from the termination date and all
                  other unvested options shall immediately terminate. Any vested
                  options shall be exercisable on a cashless basis for a period
                  of ninety (90) days following the termination date.

                  (viii) The EXECUTIVE shall not be required to mitigate the
                  amount of any payment provided for in this Section 6(a) by
                  seeking employment or otherwise.

         (b) TERMINATION BY THE COMPANY IN EVENT OF A CHANGE IN CONTROL. In the
         event that during the period beginning three (3) months before the
         occurrence of a "Change in Control"

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         (as such term is defined in Section 8 hereof) and ending one (1) year
         after a Change in Control the EXECUTIVE'S employment is terminated: (i)
         by the EXECUTIVE for Good Reason, (ii) by the COMPANY (or its successor
         or acquirer) without Cause, (iii) by expiration of this Agreement due
         to the EXECUTIVE refusing to renew this Agreement for Good Reason, or
         (iv) by expiration of this Agreement due to COMPANY (or its successor
         or acquirer) refusing to renew this Agreement without Cause, then in
         addition to the benefits provided for in Section 6(a) above, and
         notwithstanding any terms to the contrary of applicable agreements
         pursuant to the Performance Equity Plan executed by the COMPANY (or its
         parent company) and the EXECUTIVE, all of the EXECUTIVE'S outstanding
         stock options and restricted stock will immediately become vested and
         exercisable, and any provision of such options which provides for
         termination of the option upon, or within a stated time after
         termination of employment, shall become void and such option shall
         become a nonqualified stock option for tax purposes if it was not
         already a nonqualified option. The options shall remain exercisable for
         a period of one (1) year from the termination date; any such options
         shall be exercisable on a cashless basis for a period of ninety (90)
         days following the termination date.

         (c) TERMINATION DUE TO THE EXECUTIVE'S DEATH, OR BY THE COMPANY UPON
         THE EXECUTIVE'S DISABILITY. In the event of the EXECUTIVE'S death or if
         the COMPANY shall terminate the EXECUTIVE'S employment hereunder for
         disability pursuant to Section 5 (d) hereof, the COMPANY shall pay the
         EXECUTIVE, or his personal representative, as applicable:

                  (i) Annual Base Salary and other compensation as set forth in
                  Section 3 hereof that was earned up until the date of
                  termination, as well as any unreimbursed expenses;

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                  (ii) Base Salary at the annualized rate in effect on the date
                  of termination for a period of three (3) months in the event
                  of termination because of the EXECUTIVE'S death, and the
                  period between the date of termination as a result of the
                  EXECUTIVE'S disability until the effective date of the
                  EXECUTIVE'S eligibility for the benefits pursuant to any
                  applicable long-term disability insurance policy that may be
                  in effect, up to a maximum of six (6) months;

                  (iii) Notwithstanding any COMPANY policy to the contrary,
                  payment of up to sixty (60) days of accrued but unused
                  vacation time for the period from the commencement of
                  EXECUTIVE's employment with the COMPANY through the
                  EXECUTIVE'S effective date of termination.

         (d) TERMINATION BY THE COMPANY FOR CAUSE OR BY THE EXECUTIVE WITHOUT
         GOOD REASON. In the event that the COMPANY shall terminate the
         EXECUTIVE'S employment hereunder for Cause, or the EXECUTIVE shall
         terminate employment hereunder without Good Reason, the COMPANY shall
         pay the EXECUTIVE's Base Salary and other compensation as set forth in
         Section 3 hereof that was earned up until the date of termination, as
         well as any unreimbursed expenses, and accrued but unused vacation
         time, up to the number of days afforded all employees under the
         COMPANY's vacation policy in effect on the date of termination of
         employment.

         (e) LIABILITY RELEASE. The COMPANY may withhold any payment or other
         benefit following termination of employment, unless the EXECUTIVE
         executes and delivers to the COMPANY a written mutual liability release
         for in form and substance reasonably acceptable to the COMPANY and the
         EXECUTIVE.

7. NON-COMPETITION, CONFIDENTIALITY, AND CONFLICTS OF INTEREST.

         (a) CONFIDENTIALITY. The EXECUTIVE acknowledges that as a result of his
         current and prior employment with the COMPANY, (i) EXECUTIVE has
         obtained and will obtain secret and confidential information concerning
         the business of the COMPANY and its subsidiaries and affiliates
         (referred to collectively in this paragraph (a) as the COMPANY),
         including,

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         without limitation, financial information, proprietary rights, trade
         secrets and "know-how," strategic plans and partners, customers and
         sources ("Confidential Information"); (ii) the COMPANY will suffer
         substantial damage which will be difficult to compute if, during the
         period of his employment with the COMPANY or thereafter, the EXECUTIVE
         should enter a business competitive with the COMPANY or divulge
         Confidential Information; and (iii) the provisions of this Section 7
         are reasonable and necessary for the protection of the business of the
         COMPANY. Accordingly, the EXECUTIVE agrees that he will not at any
         time, either during the term of this AGREEMENT or thereafter, divulge
         to any person or entity any CONFIDENTIAL INFORMATION obtained or
         learned by him as a result of his employment with the COMPANY, except:
         (i) in the course of performing his duties hereunder; (ii) with the
         COMPANY's express written consent; (iii) to the extent that any such
         information is in the public domain other than as a result of the
         EXECUTIVE's breach of any of his obligations hereunder; or (iv) where
         required to be disclosed by court order, subpoena or other government
         process. If the EXECUTIVE is required to make a disclosure pursuant to
         the provisions of clause (iv) of the preceding sentence, he shall
         promptly, but in no event more than seventy-two (72) hours after
         learning of such subpoena, notify the COMPANY of such court order,
         subpoena or government process. At the COMPANY's expense, the EXECUTVE
         shall: (i) take all reasonably necessary and lawful steps required by
         the COMPANY to defend against the enforcement of such court order,
         subpoena or other government process; and (ii) permit the COMPANY to
         intervene and participate with counsel of its choice in any proceeding
         relating to the enforcement thereof.

         (b) RESTRICTIVE COVENANT. During the term of this Agreement and for
         twelve (12) months following the later of (i) the termination date of
         the EXECUTIVE'S employment under this

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         Agreement, and (ii) if this Agreement is terminated by the COMPANY for
         Cause, the expiration of the then-current term of this Agreement, the
         EXECUTIVE shall not, without first obtaining the prior written approval
         of the COMPANY, directly or indirectly engage in any activities in
         competition with the COMPANY, or accept employment or establish a
         business relationship with a business engaged in competition with the
         COMPANY, in any geographical area in which the COMPANY, as of the
         termination date, either is conducting or has made known to the
         EXECUTIVE prior to his termination that it has plans to conduct
         business. The EXECUTIVE hereby agrees that the COMPANY'S business,
         which is Internet based, is currently conducted throughout the United
         States and in many countries of the world, notwithstanding that COMPANY
         does not have a physical location in all these places. For these
         purposes, the COMPANY'S business shall be deemed to include (i) the
         business actually conducted by the COMPANY immediately prior to
         termination of employment, and (ii) any business the COMPANY took
         active steps (including, without limitation, business planning, market
         research, or product development efforts) prior to termination of
         employment to conduct after termination of employment. In the event
         that the EXECUTIVE undertakes any such activities without written
         permission from COMPANY, then in addition to any other remedy the
         COMPANY may otherwise have, COMPANY'S obligation to pay EXECUTIVE
         severance compensation under this Agreement shall cease.

         (c) CONFLICTS OF INTEREST. During his employment, the EXECUTIVE agrees
         not to acquire, assume or participate in, directly or indirectly, any
         position or interest known by him to be adverse or antagonistic to the
         COMPANY, its business or prospects. If, after a position or interest is
         acquired or assumed or after participation therein commences, such
         position or interest becomes adverse or antagonistic to the COMPANY,
         the EXECUTIVE shall use

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         reasonable commercial efforts to terminate or dispose of such position
         or interest as promptly as practicable.

         (d) NON-INTERFERENCE. While employed by the COMPANY, and for a period
         of twelve (12) months immediately following the later of (i) the
         termination of his employment under this Agreement, and (ii) if this
         Agreement is terminated by the COMPANY for Cause, the expiration of the
         then-current term of this Agreement, the EXECUTIVE will not interfere
         with the business of the COMPANY by:

                  (i) Soliciting, attempting to solicit, inducing or otherwise
                  causing any employee of the COMPANY to terminate his or her
                  employment; or

                  (ii) Directly or indirectly soliciting the business of any
                  customer or prospective customer of the COMPANY which at the
                  time of termination or one (1) year prior thereto was listed
                  on the COMPANY'S customer list or records, which solicitation,
                  if successful, would result in the loss of business or
                  potential business for the COMPANY so long as the potential
                  business is within the COMPANY'S business or is a logical
                  extension of such business as it exists at the time of the
                  EXECUTIVE'S termination.

         (e) RETURN OF MATERIALS. Upon termination of his employment with the
         COMPANY, the EXECUTIVE shall promptly deliver to the COMPANY all
         memoranda, notes, records, reports, manuals, drawings, blueprints and
         other documents (and all copies thereof) relating to the business of
         the COMPANY and all property associated therewith, which he may then
         possess or have under his control; provided, however, that the
         EXECUTIVE shall be entitled to retain copies of such documents
         reasonably necessary to document his financial relationship with the
         COMPANY.

         (f) SPECIFIC ENFORCEMENT. The EXECUTIVE acknowledges that a remedy at
         law for any breach or threatened breach by him of the provisions of
         this Section 7 would be inadequate to protect the COMPANY against the
         consequences of such breach, and he therefore agrees that (i) the
         COMPANY shall be entitled to injunctive relief in case of any such
         breach or

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         threatened breach without posting any bond and (ii) the EXECUTIVE shall
         account for and pay over to the COMPANY all monetary damages suffered
         by the COMPANY as the result of any transactions constituting a breach
         of any of the provisions of this Section 7. Nothing in this provision
         shall be construed to prevent the EXECUTIVE from continuing to use the
         knowledge and information that he possessed prior to commencing
         employment with the COMPANY or ETRIALS, or any non-Confidential
         Information he acquired during his employment, in any lawful manner
         following termination of his employment hereunder.

8. CHANGE IN CONTROL

The term "Change in Control" as used in the Agreement shall mean the first to
occur, after the Closing Date, of any of the following:

         (a) The effective date or date of consummation of any transaction or
         series of transactions (other than a transaction to which only the
         COMPANY and one or more of its subsidiaries are parties) pursuant to
         which the COMPANY or CEA Acquisition Corporation, the COMPANY's parent
         from and after the Closing ("CEA"):

                  (i) Becomes a subsidiary of another corporation;

                  (ii) Is merged or consolidated with or into another
                  corporation;

                  (iii) Engages in an exchange of shares with another
                  corporation; or

                  (iv) Transfers, sells or otherwise disposes of all or
                  substantially all of its assets to a single purchaser (other
                  than the EXECUTIVE) or a group of purchasers (none of whom is
                  the EXECUTIVE);

         Provided, however, that this Subsection (a) shall not be applicable to
         a transaction or series of transactions in which a majority of the
         capital stock of the other corporation, following such transaction or
         series of transactions, is owned or controlled by the holders of a
         majority

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         of the COMPANY'S or CEA's outstanding capital stock, as applicable,
         immediately before such sale, transfer or disposition; or

         (b) The date upon which any person (other than the EXECUTIVE), group of
         associated persons acting in concert (none of whom is the EXECUTIVE) or
         corporation becomes a direct or indirect beneficial owner of shares of
         stock of the COMPANY or CEA, representing an aggregate of more than
         fifty percent (50%) of the votes then entitled to be cast at an
         election of directors of the COMPANY or CEA; provided, however, that
         this paragraph (b) shall not be applicable to a transaction or series
         of transactions in which the entity acquiring such ownership in excess
         of fifty percent (50%) is a person or entity who is eligible, pursuant
         to Rule 13d-1(b) under the Securities Exchange Act of 1934, as amended,
         to file a statement on Schedule 13G with respect to its beneficial
         ownership of the COMPANY'S or CEA's capital stock, whether or not such
         person or entity shall have filed a Schedule 13G (unless such person or
         entity shall have filed a Schedule 13D with respect to beneficial
         ownership of fifteen percent (15%) or more of the COMPANY'S or CEA's
         capital stock); and provided, further, that the acquisition of shares
         in a bona fide public offering or private placement of securities by an
         investor who is acquiring such shares for passive investment purposes
         only shall not constitute a "Change in Control;" or

         (c) The date upon which the persons who were members of the Board of
         Directors of the COMPANY or CEA immediately after the Closing (the
         "Current Directors") cease to constitute a majority of the Board of
         Directors; provided, however, that any new director whose nomination or
         selection has been approved by the affirmative vote of at least a
         majority of the Current Directors then in office shall also be deemed a
         Current Director.

9. NOTICES.

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For purposes of this Agreement, notices and other communications provided for in
the Agreement shall be in writing (whether or not specifically required
elsewhere in this Agreement to be in writing) and shall be deemed to have been
duly given when delivered or mailed by United States Registered or Certified
Mail, return receipt requested, postage prepaid, addressed as follows:

     If to the EXECUTIVE:       at the address on the signature page

     If to ETRIALS:             etrials Worldwide, Inc.
                                Attn: Chief Financial Officer
                                4000 Aerial Center Parkway
                                Morrisville, NC 27560

or at such other address as any party may have furnished to the other in writing
subsequent to the execution of this Agreement.

10. APPLICABLE LAW.

This Agreement is covered by the laws of the State of North Carolina.

11. SEVERABILITY AND SECTION 7 SURVIVAL.

The provisions of Section 7 of this Agreement shall survive any termination or
expiration of this Agreement whether by the EXECUTIVE for Good Reason or without
Good Reason or by the COMPANY for Cause or without Cause or otherwise. If the
geographic scope of Section 7(b) is determined to be too broad, the geographic
scope shall be modified to be the smaller of (i) the United States, or (ii) such
other geographic location as the court deems reasonable. If any provision of
this Agreement is determined to be invalid or is in any way modified by any
governmental agency, tribunal or court of competent jurisdiction, such
determination shall be considered as relating only to a separate, distinct, and
independent part of this Agreement and shall not affect the validity or
enforceability of any of the remaining provisions of this Agreement.

12. SUCCESSOR RIGHTS AND ASSIGNMENT.

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This Agreement shall bind, inure to the benefit of and be enforceable by the
EXECUTIVE's personal or legal representatives, executors, administrators,
successors, heirs, distributees, and legatees. The rights and obligations of the
COMPANY (including, without limitation, Section 7) under this Agreement may be
assigned by the COMPANY, in which event it shall be binding upon, and inure to
the benefit of, the person(s) or entity to whom it is assigned. The EXECUTIVE
may not assign his duties hereunder and he may not assign any of his rights
hereunder without the written consent of the COMPANY.

13. REPRESENTATIONS OF THE EXECUTIVE.

The EXECUTIVE represents and warrants that his entry into and the performance of
the duties and obligations called for herein do not breach or otherwise violate
any legal obligation of the EXECUTIVE, whether common law, statutory or
contractual.

14.  DISPUTES.

Any disputes related to this Agreement shall be resolved by binding arbitration
to be held in Raleigh, North Carolina under the rules of the American
Arbitration Association that pertain to commercial disputes, provided, however,
that nothing herein shall prevent the COMPANY from seeking and obtaining
remedies in the courts for, or to prevent, any violation of Section 7 by the
EXECUTIVE and for any matter that also constitutes a violation of law. The
decision of the arbitrators shall be final and binding and non-appealable.

15. ENTIRE AGREEMENT, AMENDMENTS; WAIVERS.

This Agreement contains the entire agreement of the parties concerning the
EXECUTIVE'S employment and all promises, representation, understandings,
arrangements and prior agreements on such subject are merged herein and
superseded hereby. The provisions of this Agreement may not be amended,
modified, repealed, waived, extended or discharged except by an agreement in
writing

                                      -16-

signed by the party against whom enforcement of any amendment, modification,
repeal, waiver, extension or discharge is sought. No person acting other than
pursuant to a resolution of the Board of Directors of the COMPANY shall have
authority on behalf of the COMPANY to agree to, amend modify, repeal, waive,
extend or discharge any provision of this Agreement or anything in reference
thereto or to exercise any of the COMPANY'S rights to terminate or fail to
extend this Agreement. Notwithstanding the foregoing, the approval by the
EXECUTIVE shall not be necessary for any amendment or waiver of any provision
which upon advice of legal counsel is inconsistent with any existing or future
law, rule or regulation, including those of stock exchanges and other quotation
services on which the COMPANY'S stock is traded, quoted or listed.

                         [Signatures on following page.]

                                      -17-

IN WITNESS WHEREOF, the EXECUTIVE and the COMPANY have signed this Agreement on
the dates indicated below.

                                          EXECUTIVE:

Dated: August 22, 2005                    s/  Michael Harte
                                          --------------------------------------
                                          Michael Harte
                                          Address:  5573 Geddes Way
                                          Pipersville, Pennsylvania   18947

                                          ETRIALS WORLDWIDE, INC.

Dated: August 22, 2005                  By: s/James W. Clarke, Jr.
                                            ------------------------------------
                                            James W. Clark, Jr.
                                            Vice President and
                                            Chief Financial Officer

                                      -18-Exhibit 10.8

                                ESCROW AGREEMENT

     ESCROW AGREEMENT ("Agreement") dated [Closing Date] among CEA ACQUISITION
CORPORATION, a Delaware corporation ("CEA"), JAMES W. CLARK, JR., AS THE ETRIALS
STOCKHOLDERS' REPRESENTATIVE, being the representative of the former
stockholders of etrials Worldwide, Inc., a Delaware corporation (the
"Representative"), and CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as escrow
agent (the "Escrow Agent").

     CEA, etrials Worldwide, Inc. ("etrials"), certain stockholders of etrials,
and etrials Acquisition, Inc., a Delaware corporation and wholly-owned
subsidiary of CEA ("Merger Subsidiary"), are the parties to an Agreement and
Plan of Merger and Reorganization dated as of August __, 2005 (the "Merger
Agreement") pursuant to which the Merger Subsidiary has merged with and into
etrials so that etrials has become a wholly-owned subsidiary of CEA. Pursuant to
Article VII of the Merger Agreement, CEA is to be indemnified in certain
respects. The parties desire to establish an escrow fund as collateral security
for the indemnification obligations under Article VII of the Merger Agreement.
The Representative has been designated pursuant to the Merger Agreement to
represent all of the former stockholders of etrials (the "Stockholders") and act
on their behalf for purposes of this Agreement. Capitalized terms used herein
which are not otherwise defined herein shall have the meanings ascribed to them
in the Merger Agreement.

     The parties agree as follows:

     1. (a) Concurrently with the execution hereof, the Escrow Agent, in its
capacity as Exchange Agent pursuant to the Merger Agreement, has withheld 10% of
the total number of shares of Parent Common Stock issuable to the Stockholders
pursuant to the Merger Agreement, pro rata in accordance with the number of
shares of Parent Common Stock issuable to each Stockholder. Such shares of
Parent Common Stock are herein referred to in the aggregate as the "Escrow
Fund." The Escrow Agent shall maintain separate accounts for each Stockholder's
portion of the Escrow Fund.

         (b) The Escrow Agent hereby agrees to act as escrow agent and to hold,
safeguard and disburse the Escrow Fund pursuant to the terms and conditions
hereof. It shall treat the Escrow Fund as a trust fund in accordance with the
terms of this Agreement and not as the property of CEA. Its duties hereunder
shall cease upon its distribution of the entire Escrow Fund in accordance with
this Agreement.

         (c) Except as herein provided, the Stockholders shall retain all of
their rights as stockholders of CEA during the period the Escrow Fund is held by
the Escrow Agent (the "Escrow Period"), including, without limitation, the right
to vote their shares of Parent Common Stock included in the Escrow Fund.

         (d) During the Escrow Period, all dividends payable in cash with
respect to the shares of Parent Common Stock included in the Escrow Fund shall
be paid to

the Stockholders, but all dividends payable in stock or other non-cash property
("Non-Cash Dividends") shall be delivered to the Escrow Agent to hold in
accordance with the terms hereof. As used herein, the term "Escrow Fund" shall
be deemed to include the Non-Cash Dividends distributed thereon, if any.

         (e) During the Escrow Period, no sale, transfer or other disposition
may be made of any or all of the shares of Parent Common Stock in the Escrow
Fund except (i) by gift to a member of a Stockholder's immediate family or to a
trust, the beneficiary of which is a Stockholder or a member of a Stockholder's
immediate family, (ii) by virtue of the laws of descent and distribution upon
death of any Stockholder, or (iii) pursuant to a qualified domestic relations
order; provided, however, that such permissive transfers may be implemented only
upon the respective transferee's written agreement to be bound by the terms and
conditions of this Agreement. During the Escrow Period, the Stockholders shall
not pledge or grant a security interest in the shares of Parent Common Stock
included in the Escrow Fund or grant a security interest in their rights under
this Agreement.

     2. (a) CEA, acting through the members of CEA's Board of Directors who
served on such Board prior to the Closing and who continue to serve on such
Board after the Closing (the "Committee"), who have been appointed by the Board
of Directors to take all necessary actions and make all decisions on behalf of
CEA with respect to its rights to indemnification under the Merger Agreement,
may make a claim for indemnification pursuant to Article VII of the Merger
Agreement ("Indemnity Claim") against the Escrow Fund by giving notice (a
"Notice") to the Representative (with a copy to the Escrow Agent) specifying (i)
the covenant, representation, warranty, agreement, undertaking or obligation
contained in the Merger Agreement which it asserts has been breached or
otherwise entitles CEA to indemnification, (ii) in reasonable detail, the nature
and dollar amount of any indemnity claim CEA may have by reason thereof under
the Merger Agreement ("Indemnity Claim"), and (iii) whether the Indemnity Claim
results from a Third Party Claim against CEA. The Committee also shall deliver
to the Escrow Agent (with a copy to the Representative), concurrently with its
delivery to the Escrow Agent of the Notice, a certification as to the date on
which the Notice was delivered to the Representative.

         (b) If the Representative shall give a notice to the Committee (with a
copy to the Escrow Agent) (a "Counter Notice"), within 30 days following the
date of receipt (as specified in the Committee's certification) by the
Representative of a copy of the Notice, disputing whether the Indemnity Claim is
indemnifiable under Article VII of the Merger Agreement, the parties shall
attempt to resolve such dispute by voluntary settlement as provided in paragraph
2(c) below. If no Counter Notice with respect to an Indemnity Claim is received
by the Escrow Agent from the Representative within such 30-day period, the
Indemnity Claim shall be deemed to be an Established Claim (as hereinafter
defined) for purposes of this Agreement.

         (c) If the Representative delivers a Counter Notice to the Escrow
Agent, the Committee and the Representative shall, during the period of 60 days
following the delivery of such Counter Notice or such greater period of time as
the parties may agree to in writing (with a copy to the Escrow Agent), attempt
to resolve the

                                       2

dispute with respect to which the Counter Notice was given. If the Committee and
the Representative shall reach a settlement with respect to any such dispute,
they shall jointly deliver written notice of such settlement to the Escrow Agent
specifying the terms thereof. If the Committee and the Representative shall be
unable to reach a settlement with respect to a dispute, such dispute shall be
resolved by arbitration pursuant to paragraph 2(d) below.

         (d) If the Committee and the Representative cannot resolve a dispute
prior to expiration of the 60-day period referred to in paragraph 2(c) above (or
such longer period as the parties may have agreed to in writing), then such
dispute shall be submitted (and either party may submit such dispute) for
arbitration before a single arbitrator in Orlando, Florida, in accordance with
the commercial arbitration rules of the American Arbitration Association then in
effect. The Committee and the Representative shall attempt to agree upon an
arbitrator; if they shall be unable to agree upon an arbitrator within 10 days
after the date on which it may, under this Agreement, be submitted for
arbitration, then either the Committee or the Representative, upon written
notice to the other, may apply for appointment of such arbitrator by the
American Arbitration Association. Each party shall pay the fees and expenses of
counsel used by it and 50% of the fees and expenses of the arbitrator and of
other expenses of the arbitration. The arbitrator shall render his decision
within 90 days after his appointment and may award costs to any of the parties
if, in his sole opinion reasonably exercised, the claims made by any other party
or parties had no reasonable basis and were arbitrary and capricious. Such
decision and award shall be in writing and shall be final and conclusive on the
parties, and counterpart copies thereof shall be delivered to each of the
parties. Judgment may be obtained on the decision of the arbitrator so rendered
in any court having jurisdiction and may be enforced in accordance with the law
of the State of Florida. If the arbitrator shall fail to render his decision or
award within such 90-day period, either the Committee or the Representative may
apply to any Florida or federal court then having jurisdiction by action,
proceeding or otherwise, as may be proper to determine the matter in dispute
consistently with the provisions of this Agreement. The parties consent to the
exclusive jurisdiction of the Florida courts sitting in the Hillsborough County
for this purpose. The prevailing party (or either party, in the case of a
decision or award rendered in part for each party) shall send a copy of the
arbitration decision or of any judgment of the Florida or federal court to the
Escrow Agent.

         (e) As used in this Agreement, "Established Claim" means any (i)
Indemnification Claim deemed established pursuant to the last sentence of
paragraph 2(b) above, (ii) Indemnification Claim resolved in favor of CEA by
settlement of the parties pursuant to paragraph 2(c) above, resulting in a
dollar award to CEA, (iii) Indemnification Claim established by the decision of
an arbitrator pursuant to paragraph 2(d) above, resulting in a dollar award to
CEA, (iv) Third Party Claim which has been sustained by a final determination
(after exhaustion of any appeals) of a court of competent jurisdiction, or (v)
Third Party Claim which the Committee and the Representative have jointly
notified the Escrow Agent has been settled in accordance with the provisions of
the Merger Agreement.

                                       3

         (f) (i) Promptly after an Indemnity Claim becomes an Established Claim,
the Committee shall deliver a notice to the Escrow Agent directing the Escrow
Agent to pay to CEA, and the Escrow Agent shall pay to CEA, an amount equal to
the aggregate dollar amount of the Established Claim (or, if at such time there
remains in the Escrow Fund less than the full amount so payable, the full amount
remaining in the Escrow Fund).

               (ii) Payment of an Established Claim shall be made in shares of
Parent Common Stock, pro rata from the account maintained on behalf of each
Stockholder. In such event, such shares shall be valued at the "Fair Market
Value" (as defined below) and the Escrow Agent shall promptly cause the
appropriate number of shares to be transferred from the Escrow Fund to CEA, or
its order, to the extent of the number of shares of Parent Common Stock in the
Escrow Fund. The parties hereto (other than the Escrow Agent) agree that the
foregoing right to make payments of Established Claims in shares of Parent
Common Stock may be made notwithstanding any other agreements restricting or
limiting the ability of any Stockholder to sell any shares of CEA stock or
otherwise. As used herein, "Fair Market Value" means the average reported last
sales price for the Parent Common Stock for the ten trading days ending on the
last trading day prior to the day the Established Claim is paid.

     3. On the first Business Day after the eighteen month anniversary of the
Closing Date, upon written instruction from CEA, the Escrow Agent shall
distribute and pay to each Stockholder who has an interest in the Escrow Fund
the Parent Common Stock then in such Stockholder's account in the Escrow Fund,
unless at such time there are any Indemnity Claims with respect to which Notices
have been received but which have not been resolved pursuant to Section 2 hereof
or in respect of which the Escrow Agent has not been notified of, and received a
copy of, a final determination (after exhaustion of any appeals) by a court of
competent jurisdiction, as the case may be (in either case, "Pending Claims"),
and which, if resolved or finally determined in favor of CEA, would result in a
payment to CEA, in which case the Escrow Agent shall retain, and the total
amount of such distributions to such Stockholder shall be reduced by, the
"Pending Claims Reserve" (as hereafter defined). Thereafter, if any Pending
Claim becomes an Established Claim, the Escrow Agent shall promptly pay to CEA
an amount in respect thereof determined in accordance with paragraph 2(f) above,
and to the Stockholder the amount by which the remaining portion of his account
in the Escrow Fund exceeds the then Pending Claims Reserve (determined as set
forth below). If any Pending Claim is resolved against CEA, the Escrow Agent
shall promptly pay to each Stockholder the amount by which the remaining portion
of his account in the Escrow Fund exceeds the then Pending Claims Reserve. Upon
resolution of all Pending Claims, the Escrow Agent shall pay to such Stockholder
the remaining portion of his or her account in the Escrow Fund.

     As used herein, the "Pending Claims Reserve" at any time shall mean an
amount equal to the sum of the aggregate dollar amounts claimed to be due with
respect to all Pending Claims (as shown in the Notices of such Claims).

                                       4

     4. The Escrow Agent shall cooperate in all respects with the Committee and
the Representative in the calculation of any amounts determined to be payable to
CEA in accordance with this Agreement.

     5. (a) The Escrow Agent undertakes to perform only such duties as are
expressly set forth herein. It is understood that the Escrow Agent is not a
trustee or fiduciary and is acting hereunder merely in a ministerial capacity.

         (b) The Escrow Agent shall not be liable for any action taken or
omitted by it in good faith and in the exercise of its own best judgment, and
may rely conclusively and shall be protected in acting upon any order, notice,
demand, certificate, opinion or advice of counsel (including counsel chosen by
the Escrow Agent), statement, instrument, report or other paper or document (not
only as to its due execution and the validity and effectiveness of its
provisions, but also as to the truth and acceptability of any information
therein contained) which is believed by the Escrow Agent to be genuine and to be
signed or presented by the proper person or persons. The Escrow Agent shall not
be bound by any notice or demand, or any waiver, modification, termination or
rescission of this Agreement unless evidenced by a writing delivered to the
Escrow Agent signed by the proper party or parties and, if the duties or rights
of the Escrow Agent are affected, unless it shall have given its prior written
consent thereto.

         (c) The Escrow Agent's sole responsibility upon receipt of any notice
requiring any payment to CEA pursuant to the terms of this Agreement or, if such
notice is disputed by the Committee or the Representative, the settlement with
respect to any such dispute, whether by virtue of joint resolution, arbitration
or determination of a court of competent jurisdiction, is to pay to CEA the
amount specified in such notice, and the Escrow Agent shall have no duty to
determine the validity, authenticity or enforceability of any specification or
certification made in such notice.

         (d) The Escrow Agent shall not be liable for any action taken by it in
good faith and believed by it to be authorized or within the rights or powers
conferred upon it by this Agreement, and may consult with counsel of its own
choice and shall have full and complete authorization and protection for any
action taken or suffered by it hereunder in good faith and in accordance with
the opinion of such counsel.

         (e) The Escrow Agent may resign at any time and be discharged from its
duties as escrow agent hereunder by its giving the other parties hereto written
notice and such resignation shall become effective as hereinafter provided. Such
resignation shall become effective at such time that the Escrow Agent shall turn
over the Escrow Fund to a successor escrow agent appointed jointly by the
Committee and the Representative. If no new escrow agent is so appointed within
the 60 day period following the giving of such notice of resignation, the Escrow
Agent may deposit the Escrow Fund with any court it reasonably deems
appropriate.

         (f) In the event of a dispute between the parties as to the proper
disposition of the Escrow Fund, the Escrow Agent shall be entitled (but not
required) to deliver the Escrow Fund into the United States District Court for
the Southern District of

                                       5

New York and, upon giving notice to the Committee and the Representative of such
action, shall thereupon be relieved of all further responsibility and liability.

         (g) The Escrow Agent shall be indemnified and held harmless by CEA from
and against any expenses, including counsel fees and disbursements, or loss
suffered by the Escrow Agent in connection with any action, suit or other
proceeding involving any claim which in any way, directly or indirectly, arises
out of or relates to this Agreement, the services of the Escrow Agent hereunder,
or the Escrow Fund held by it hereunder, other than expenses or losses arising
from the gross negligence or willful misconduct of the Escrow Agent. Promptly
after the receipt by the Escrow Agent of notice of any demand or claim or the
commencement of any action, suit or proceeding, the Escrow Agent shall notify
the other parties hereto in writing. In the event of the receipt of such notice,
the Escrow Agent, in its sole discretion, may commence an action in the nature
of interpleader in an appropriate court to determine ownership or disposition of
the Escrow Fund or it may deposit the Escrow Fund with the clerk of any
appropriate court or it may retain the Escrow Fund pending receipt of a final,
non-appealable order of a court having jurisdiction over all of the parties
hereto directing to whom and under what circumstances the Escrow Fund are to be
disbursed and delivered.

         (h) The Escrow Agent shall be entitled to reasonable compensation from
CEA for all services rendered by it hereunder. The Escrow Agent shall also be
entitled to reimbursement from CEA for all expenses paid or incurred by it in
the administration of its duties hereunder including, but not limited to, all
counsel, advisors' and agents' fees and disbursements and all taxes or other
governmental charges.

         (i) From time to time on and after the date hereof, the Committee and
the Representative shall deliver or cause to be delivered to the Escrow Agent
such further documents and instruments and shall do or cause to be done such
further acts as the Escrow Agent shall reasonably request to carry out more
effectively the provisions and purposes of this Agreement, to evidence
compliance herewith or to assure itself that it is protected in acting
hereunder.

         (j) Notwithstanding anything herein to the contrary, the Escrow Agent
shall not be relieved from liability hereunder for its own gross negligence or
its own willful misconduct.

     6. This Agreement expressly sets forth all the duties of the Escrow Agent
with respect to any and all matters pertinent hereto. No implied duties or
obligations shall be read into this Agreement against the Escrow Agent. The
Escrow Agent shall not be bound by the provisions of any agreement among the
parties hereto except this Agreement and shall have no duty to inquire into the
terms and conditions of any agreement made or entered into in connection with
this Agreement, including, without limitation, the Merger Agreement.

     7. This Agreement shall inure to the benefit of and be binding upon the
parties and their respective heirs, successors, assigns and legal
representatives, shall be governed by and construed in accordance with the law
of Delaware applicable to contracts made and to be performed therein except that
issues relating to the rights and

                                       6

obligations of the Escrow Agent shall be governed by and construed in accordance
with the law of New York applicable to contracts made and to be performed
therein. This Agreement cannot be changed or terminated except by a writing
signed by the Committee, the Representative and the Escrow Agent.

     8. The Committee and the Representative each hereby consents to the
exclusive jurisdiction of the Florida and federal courts sitting in Hillsborough
County with respect to any claim or controversy arising out of this Agreement.
Service of process in any action or proceeding brought against the Committee or
the Representative in respect of any such claim or controversy may be made upon
it by registered mail, postage prepaid, return receipt requested, at the address
specified in Section 9, with a copy delivered by nationally recognized overnight
carrier to Graubard Miller, The Chrysler Building, 405 Lexington Avenue, New
York, N.Y. 10174-1901, Attention: David Alan Miller, Esq.

     9. All notices and other communications under this Agreement shall be in
writing and shall be deemed given if given by hand or delivered by nationally
recognized overnight carrier, or if given by telecopier and confirmed by mail
(registered or certified mail, postage prepaid, return receipt requested), to
the respective parties as follows:

               A.       If to the Committee, to it at
                        c/o CEA Acquisition Corporation
                        101 East Kennedy Boulevard, Suite 3300
                        Tampa, Florida 33602
                        Attention: Robert Moreyra
                        Telecopier No.: 813-314-9504

                        with a copy to:

                        Graubard Miller
                        The Chrysler Building
                        405 Lexington Avenue
                        New York, New York  10174-1901
                        Attention:  David Alan Miller, Esq.
                        Telecopier No.: 212-818-8881

               B.       If to the Representative, to him at

                        James W. Clark, Jr.
                        c/o etrials Worldwide, Inc.
                        4000 Aerial Center Parkway
                        Morrisville, North Carolina 27560
                        Telecopier No.: 919-653-3621

                        with a copy to:

                        Daniels, Daniels & Verdonik, P.A.

                                       7

                        Suite 200, Generation Plaza
                        1822 N.C. Highway 54 East
                        P.O. Drawer 122
                        Research Triangle Park, N.C. 22709-2218
                        Attention: James F. Verdonik
                        Telecopier No.: 919 544 5920

               C.       If to the Escrow Agent, to it at:

                        Continental Stock Transfer & Trust Company
                        2 Broadway
                        New York, New York 10004
                        Attention: Steven G. Nelson
                        Telecopier No.: 212-509-5150

or to such other person or address as any of the parties hereto shall specify by
notice in writing to all the other parties hereto.

     10. (a) If this Agreement requires a party to deliver any notice or other
document, and such party refuses to do so, the matter shall be submitted to
arbitration pursuant to paragraph 3(d) of this Agreement.

         (b) All notices delivered to the Escrow Agent shall refer to the
provision of this Agreement under which such notice is being delivered and, if
applicable, shall clearly specify the aggregate dollar amount due and payable to
CEA.

         (c) This Agreement may be executed in any number of counterparts, each
of which shall be deemed to be an original instrument and all of which together
shall constitute a single agreement.

         IN WITNESS WHEREOF, each of the parties hereto has duly executed this
Agreement on the date first above written.

                                     CEA ACQUISITION CORPORATION

                                     By:
                                        ----------------------------------------
                                     Name:
                                     Title:

                                     THE REPRESENTATIVE

                                     -------------------------------------------
                                     Name: James W. Clark, Jr.

                                       8

                                     ESCROW AGENT

                                     CONTINENTAL STOCK TRANSFER & TRUST COMPANY

                                     By:
                                        ----------------------------------------
                                     Name:  Steven G. Nelson
                                     Title: Chairman

                                       9

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