Document:

Exhibit 10.3

 

INCENTIVE STOCK OPTION AGREEMENT

 

UNDER THE ALBANY MOLECULAR RESEARCH, INC.

1998 STOCK OPTION AND INCENTIVE PLAN

 

Name of Optionee:     [                         ]

Number of Option Shares:
      [          ]

Option Exercise Price per
Share:  [                     ]

[FMV
(Average of high and low sale prices on Grant Date) or 110% of FMV if a 10%
Owner]

Grant Date:     [               ]

Expiration Date:     [                    ]

 

Pursuant
to the Albany Molecular Research, Inc. 1998 Stock Option and Incentive Plan, as
amended through the date hereof (the “Plan”), Albany Molecular Research, Inc.
(the “Company”) hereby grants to the Optionee named above an option (the “Stock
Option”) to purchase on or prior to the Expiration Date specified above all or
any part of the number of shares of Common Stock, par value $.01 per share (the
“Stock”), of the Company specified above at the Option Exercise Price per Share
specified above subject to the terms and conditions set forth herein and in the
Plan.

 

1.                                       Vesting
Schedule.  No portion of this Stock
Option may be exercised until such portion shall have vested.  Except as set forth below, and subject to the
discretion of the Administrator (as defined in Section 2 of the Plan) to
accelerate the vesting schedule hereunder and the acceleration of vesting
in accordance with Sections 3(c) and 17 of the Plan, [(a)
sixty percent (60%) of this Stock Option shall be fully vested and exercisable
on the third anniversary of the Grant Date, (b) eighty percent (80%) of this
Stock Option shall be fully vested and exercisable on the fourth anniversary of
the Grant Date, and (c) one hundred percent (100%) of this Stock Option shall
be fully vested and exercisable on the fifth anniversary of the Grant Date.](1)  Once vested, this
Stock Option shall continue to be exercisable at any time or times prior to the
close of business on the Expiration Date, subject to the provisions hereof and
of the Plan.

 

(1) Max. of $100,000 per yr.

 

 

2.                                       Manner
of Exercise.

 

(a)                                  The
Optionee may exercise this Stock Option only in the following manner:  from time to time on or prior to the
Expiration Date of this Stock Option, the Optionee may give written notice to
the Company of his or her election to purchase some or all of the vested Option
Shares purchasable at the time of such notice. 
This notice shall specify the number of Option Shares to be purchased.

 

Payment of the purchase
price for the Option Shares may be made by one or more of the following
methods:  (i) in cash, by certified
or bank check or other instrument acceptable to the Administrator;
(ii) through the delivery (or attestation to the ownership) of shares of
Stock, valued at Fair Market Value on the exercise date, that have been
purchased by the Optionee on the open market or that have been beneficially
owned by the Optionee for at least six months, and are not then subject to
restrictions under any Company plan, if permitted by the Administrator in its
discretion; (iii) by the Optionee delivering to the Company a properly executed
exercise notice together with irrevocable instructions to a broker to promptly
deliver to the Company cash or a check payable and acceptable to the Company to
pay the purchase price, provided that in the event the Optionee chooses
to pay the purchase price as so provided, the Optionee and the broker shall
comply with such procedures and enter into such agreements of indemnity and
other agreements as the Administrator shall prescribe as a condition of such
payment procedure; (iv) by the Optionee delivering to the Company a promissory
note if the Board of Directors has expressly authorized the loan of funds to
the Optionee for the purpose of enabling or assisting the Optionee to effect
the exercise of his or her Stock Option, provided that at least so much
of the exercise price as represents the par value of the Stock shall be paid
other than with a promissory note; or (v) with the consent of the
Administrator, a combination of (i), (ii), (iii) and (iv) above.  Payment instruments will be received subject
to collection.

 

The delivery of
certificates representing the Option Shares will be contingent upon the Company’s
receipt from the Optionee of full payment for the Option Shares, as set forth
above and any agreement, statement or other evidence that the Company may
require to satisfy itself that the issuance of Stock to be purchased pursuant
to the exercise of this Stock Option under the Plan and any subsequent resale
of the shares of Stock will be in compliance with applicable laws and
regulations.  In the event an Optionee
chooses to pay the purchase price by previously-owned shares of Stock through
the attestation method described in clause (ii) of the preceding
paragraph, the number of shares of Stock transferred to the Optionee upon
exercise of this Stock Option shall be net of the number of shares attested to.

 

(b)                                 Certificates
for the shares of Stock purchased upon exercise of this Stock Option shall be
issued and delivered to the Optionee upon compliance to the satisfaction of the
Administrator with all requirements under applicable laws or regulations in
connection with such issuance and with the requirements hereof and of the
Plan.  The determination of the
Administrator as to such compliance shall be final and binding on the
Optionee.  The Optionee shall not be
deemed to be the holder of, or to have any of the rights of a holder with
respect to,

 

 

any
shares of Stock subject to this Stock Option unless and until this Stock Option
shall have been exercised pursuant to the terms hereof, the Company shall have
issued and delivered the shares to the Optionee, and the Optionee’s name shall
have been entered as the stockholder of record on the books of the
Company.  Thereupon, the Optionee shall
have full voting, dividend and other ownership rights with respect to such
shares of Stock.

 

(c)                                  The
minimum number of shares with respect to which this Stock Option may be
exercised at any one time shall be 100 shares, unless the number of shares with
respect to which this Stock Option is being exercised is the total number of
shares subject to exercise under this Stock Option at the time.

 

(d)                                 Notwithstanding
any other provision hereof or of the Plan, no portion of this Stock Option
shall be exercisable after the Expiration Date hereof.

 

3.                                       Termination
of Employment.  If the Optionee’s
employment by the Company or a Subsidiary (as defined in the Plan) is
terminated, the period within which to exercise the Stock Option may be subject
to earlier termination as set forth below.

 

(a)                                  Termination
Due to Death.  If the Optionee’s
employment terminates by reason of death, any Option held by the Optionee shall
become fully exercisable and may thereafter be exercised by the Optionee’s
legal representative or legatee for a period of twelve (12) months from the
date of death or until the Expiration Date, if earlier.

 

(b)                                 Termination
Due to Disability.  If the Optionee’s
employment terminates as a result of the inability of the Optionee, by reason
of injury, illness or other similar cause, to perform a major part of his or
her duties and responsibilities in connection with the conduct of the business
and affairs of the Company, any Option held by the Optionee shall become fully
exercisable and may thereafter be exercised by the Optionee for a period of
twelve (12) months from the date of termination or until the Expiration Date,
if earlier.  The death of the Optionee
during the 12-month period provided in this Section 3(b) shall extend such
period for another  twelve (12)
months from the date of death or until the Expiration Date, if earlier.

 

(c)                                  Termination
for Cause.  If the Optionee’s
employment terminates for Cause (as defined below), any Option held by the
Optionee shall terminate immediately and be of no further force and effect.

 

For purposes of this
Agreement, “Cause” shall have the meaning set forth in any Employment Agreement
by and between the Company and the Optionee, or if there is no such Employment
Agreement, termination of the Optionee’s employment for any of the following
reasons shall constitute termination for “Cause” for purposes hereof:

 

(i)                                     dishonest statements or acts of the Optionee with respect to
the Company, any Subsidiary or any affiliate of the Company;

 

 

(ii)                                  commission
by or indictment of the Optionee for (A) a felony or (B) any misdemeanor
involving moral turpitude, deceit, dishonesty or fraud (“indictment,” for these
purposes, meaning an indictment, probable cause hearing or any other procedure
pursuant to which an initial determination of probable or reasonable cause with
respect to such offense is made);

 

(iii)                               commission, in the reasonable judgment of the Administrator,
of any act involving a violation of any procedure or policy of the Company;

 

(iv)                              failure
to perform to the reasonable satisfaction of the Chief Executive Officer or the
President of the Company a substantial portion of the Optionee’s duties and
responsibilities as an employee of the Company, which failure continues, in the
reasonable judgment of the Chief Executive Officer or the President of the
Company, after written notice to the Optionee thereof and after a 30-day cure
period expires;

 

(v)                                 gross negligence, willful misconduct or insubordination of
the Optionee with respect to the Company, any Subsidiary or any affiliate of
the Company; or

 

(vi)                              material
breach by the Optionee of any of the Optionee’s obligations under any agreement
with the Company, including, without limitation, that certain Employee
Innovation, Proprietary Information and Post-Employment Activity Agreement by
and between the Company and the Optionee.

 

(d)                                 Other
Termination.  If the Optionee’s
employment terminates for any reason other than those set forth in
Sections 3(a), 3(b) or 3(c) of this Agreement, and unless otherwise
determined by the Committee, any Option held by the Optionee may be exercised,
to the extent exercisable on the date of termination, for a period of three (3)
months from the date of termination or until the Expiration Date, if
earlier.  Any Option that is not
exercisable at such time shall terminate immediately and be of no further force
or effect.

 

The
Administrator’s determination of the reason for termination of the Optionee’s
employment shall be conclusive and binding on the Optionee and his or her
representatives or legatees.

 

4.                                       Incorporation
of Plan.  Notwithstanding anything
herein to the contrary, this Stock Option shall be subject to and governed by
all the terms and conditions of the Plan. 
In the event of any discrepancy or inconsistency between this Agreement
and the Plan, the terms and conditions of the Plan shall control.  Capitalized terms in this Agreement shall
have the meaning specified in the Plan, unless a different meaning is specified
herein.

 

5.                                       Transferability.  This Agreement is personal to the Optionee,
is non-assignable and is not transferable in any manner, by operation of law or
otherwise, other than by will or the laws of

 

 

descent
and distribution.  This Stock Option is
exercisable, during the Optionee’s lifetime, only by the Optionee, or by the
Optionee’s legal representative or guardian in the event of the Optionee’s
incapacity.

 

6.                                       Status
of the Stock Option.  This Stock
Option is intended to qualify as an “incentive stock option” under Section 422
of the Internal Revenue Code of 1986, as amended (the “Code”), but the Company
does not represent or warrant that this Stock Option qualifies as such.  The Optionee should consult with his or her
own tax advisors regarding the tax effects of this Stock Option and the
requirements necessary to obtain favorable income tax treatment under Section 422
of the Code, including, but not limited to, holding period requirements.  If the Optionee intends to dispose or does
dispose (whether by sale, gift, transfer or otherwise) of any Option Shares
within the one-year period beginning on the date after the transfer of such
shares to him or her, or within the two-year period beginning on the day after
the grant of this Stock Option, he or she will notify the Company within 30
days after such disposition.

 

7.                                       Miscellaneous.

 

(a)                                  Notice
hereunder shall be given to the Company at its principal place of business, and
shall be given to the Optionee at the address set forth below, or in either
case at such other address as one party may subsequently furnish to the other
party in writing.

 

(b)                                 This
Stock Option does not confer upon the Optionee any rights with respect to
continuance of employment by the Company or any Subsidiary.

 

(c)                                  Pursuant
to Section 15 of the Plan, the Administrator may at any time amend or
cancel any outstanding portion of this Stock Option, but no such action may be
taken which adversely affects the Optionee’s rights under this Agreement
without the Optionee’s consent.

 

(d)                                 This
Agreement may be executed in one or more counterparts, each of which shall be
an original, but all of which shall together constitute one instrument.

 

 

	
  ALBANY MOLECULAR
  RESEARCH, INC.

  
	
   

  
	
  By:

  	
   

  
	
   

  
	
  Name:  Mark T. Frost

  	
   

  
	
   

  
	
  Title:  Chief Financial OfficerExhibit 10.1 — Separation
Agreement and Release dated November 30, 2004, between VantageMed Corporation
and Richard M. Brooks.

 

 SEPARATION
AGREEMENT AND RELEASE

This SEPARATION AGREEMENT
AND RELEASE (this “Agreement”) is entered into as of November 30, 2004
(the “Effective Date”) by and between, VantageMed Corporation, a Delaware
corporation (the “Company”), and Richard M. Brooks (“Brooks”).

RECITALS

A. Brooks and the Company are parties to an
Employment Agreement, dated August 9, 2002 (the “Employment Agreement”),
pursuant to which Brooks was employed by the Company as its Chief Executive
Officer.

B. Effective November
8, 2004, Mr. Brooks voluntarily resigned as Chief Executive Officer of the
Company.

C. Brooks currently
serves as the Chairman of the Board of Directors of VantageMed Corporation (the
“Board”).

D. The Company and
Brooks desire that Brooks continue to serve as the Chairman of the Board and
assume other duties as described herein.

E.  It is the
Company’s decision to provide Brooks with certain severance benefits (as
described herein) that Brooks would not otherwise be entitled to receive upon
the termination of his employment with the Company.

NOW THEREFORE, in
consideration of the promises and the covenants and agreements of the parties
herein contained, and intending to be legally bound hereby, the parties hereby
agree as follows:

AGREEMENT

1. Termination of Employment.  Brooks has tendered his resignation as the
Company’s Chief Executive Officer, effective November 8, 2004 (the “Resignation
Date”), which is documented by a letter in the form attached hereto as Exhibit
A. The Company has accepted this resignation and, in response to any inquiries,
the Company and Brooks will assert that Brooks resigned voluntarily as part of
a planned transition of the Chief Executive Officer position to Steve Curd. The
Company shall provide Brooks with a draft of any press release or public
statement related to Brooks’ resignation as the Company’s Chief Executive
Officer for Brooks’ review and approval, which approval shall be neither timely
nor unreasonably withheld.

2. Membership on Board. Brooks shall
remain Chairman of the Board and a director of the Company until his
resignation, or his removal in accordance with the Company’s Certificate,
Bylaws, and Delaware General Corporation Law. 
Notwithstanding the foregoing, Brooks hereby agrees to resign from the
Board within fifteen (15) days of any request to do so by a majority of the
Board members (not including Brooks).  As
a director of the Company, Brooks shall be entitled to full reimbursement for
all pre-approved business expenses incurred as a Board member in accordance
with Company policy, as well as being allowed to participate in any Board
compensation plans that may be adopted by the Company, either now or in the
future.

In addition to his regular duties as Chairman of the
Board, Brooks shall continue to manage certain discrete projects for the
Company that he was managing prior to the Resignation Date as directed by the
Board and shall make himself available to address any transition issues that
may arise with respect to the transition to Mr. Curd.

Brooks shall be reimbursed up to $500 per month in
actual out-of-pocket expenses incurred in connection with his work for such
projects.   All such reimbursements shall
be made in accordance with the Company’s business expense reimbursement policy.

3. Severance Benefits.

In exchange for the release of claims set forth in
paragraph 5 and 6, and subject to the effectiveness of this Section 3 as set
forth in paragraph 6 hereof, Brooks shall receive the following severance
benefits in lieu of any severance benefits provided in the Employment
Agreement:

                a)             a severance payment equal to Brooks’
current annual salary, less applicable withholding, paid in accordance with the
Company’s normal payroll schedule over the 12 month period beginning December
1, 2004.

                b)            all unexercised stock options
granted to Brooks under the Employment Agreement shall vest and be exercisable
on the Resignation Date.  The period of
exercise for all options held by Brooks as of the Effective Date shall be 90
days from the longer of (i) 180 days after the Effective Date or (ii)
termination or completion of the projects referred to in Section 2 above.  Except as provided above, all unexercised stock
options shall continue to vest and be exercisable in accordance with the
applicable option agreement and/or with the terms of the applicable stock
option plan(s).

                c)             if Brooks is covered by the Company’s
group health plan and he timely elects to continue such coverage pursuant to
applicable law (COBRA), the Company shall pay the COBRA premiums for the period
that Brooks is receiving the severance payments described in paragraph a)
above, provided, however, that from and after the first date that Brooks first
commences other employment or provides services as a consultant of other
self-employed individual, the Company, at its option, may eliminate or
otherwise reduce payment of such COBRA premiums to the extent Brooks receives
health benefits from such other employment or self-employment.

4. Miscellaneous Benefits.

(a) On the Resignation Date, the Company shall
pay Brooks all wages and unused but accrued vacation earned through that
date.  Such payments shall be subject to
applicable withholding.  In addition, the
Company shall reimburse Brooks for all of his reimbursable business expenses
incurred through the Resignation Date in accordance with the Company’s business
expense reimbursement policy.  Brooks
understands and acknowledges that he shall be entitled to no compensation or
benefits from the Company other than those expressly set forth in this
Agreement.

(b)  The Company shall continue to maintain
Brooks’ VantageMed email account and will allow Brooks to remotely access his
VantageMed email account. The Company shall also allow Brooks to keep at all
times for both his business and personal use his Company-issued laptop computer
and cellular telephone, subject to Brooks’ continuing obligation to protect the
confidential and proprietary information of the Company.  Business expenses associated with laptop and
cellular telephone use shall be included in the $500 monthly expense
reimbursement allotment described in Section 2 above.  All benefits provided to Brooks under this
paragraph 4(b) shall cease on the earlier of (i) the last day that Brooks
serves as a member of the Company’s Board of Directors, or (ii) the date on
which Brooks commences full-time employment with another company.

5.             Return
of Company Property.  Except for the
property retained by Brooks under Section 4(b) above, on the Resignation Date
Brooks shall return to the Company any and all Company property then in his
possession, except for any such property reasonably necessary for Brooks to
continue to perform his duties as a director and manager of the projects as
described in Section 2 above.  Any
retained property shall be returned to the Company promptly at such time as
Brooks is no longer a member of the Board of Directors.

2

6. Mutual General
Release.

(a) In exchange for the
mutual promises made herein and the benefits described in this Agreement,
Brooks, on behalf of himself and his estate, heirs, executors and personal
representatives, and the Company, on behalf of itself and its predecessors,
successors, assigns, agents and, in each case, all persons acting by, through,
under or in concert with any of them, hereby release and discharge fully,
finally and forever one another and their respective estate, heirs, executors,
personal representatives, employees, officers, directors, stockholders,
predecessors, successors, assigns, agents, attorneys and accountants, and all
persons acting by, through, under or in concert with any of them (individually
and collectively, the “Released Parties”) from all claims, demands,
obligations, losses, causes of action, in law or in equity, costs, expenses,
suits, debts, liens, promises, damages, attorneys’ fees and liabilities of any
nature whatsoever, known or unknown, fixed or contingent, whether based upon
contract, tort or statute which they now have or may hereafter have against the
Released Parties by reason of any and all acts, omissions, events or facts
occurring or existing prior to the Effective Date including, but not limited
to, the following: any alleged breach of the Employment Agreement, or any other
agreement or policy to which the Company is a party; any alleged breach of any
covenant of good faith and fair dealing, express or implied; any alleged torts
or other alleged legal restrictions relating to Brooks’s employment and the
termination thereof; and any alleged violation of any federal, state or local
statute or ordinance, including, without limitation, Title VII of the Civil
Rights Act of 1964, as amended; the Equal Pay Act, as amended; the Age
Discrimination in Employment Act, as amended; the Americans With Disabilities
Act, as amended; the Employee Retirement Income Security Act, as amended; the
Older Workers Benefit Protection Act of 1990; the California Fair Employment
and Housing Act, as amended; the California Labor Code, as amended; and/or any
other local, state, or federal law governing discrimination in employment
and/or the payment of wages and benefits, or any matters arising out of, or
relating to, Brooks’s employment relationship with the Company (collectively,
the “Released Matters”). Notwithstanding the foregoing, (a) the Released
Matters shall not include, and nothing herein shall affect, any claim arising
from or relating to any breach by a Released Party of the terms of this
Agreement and (b) nothing in this Agreement shall release the Company from any
of its indemnification obligations to Brooks pursuant to contract, the Company’s
by-laws, or statutory or common law.

(b) The parties agree
that they shall not in any way on their own behalf or for any other person or
entity, cause, support or assist in the instigation, maintenance or pursuit of
any action of any nature which has been, might have been or might be asserted
by any person or entity against the Released Parties in connection with the
Released Matters. This paragraph 6(b) may be pleaded as a complete defense to,
and may be used as an injunction against bringing, any claims released
hereunder.

(c) This Agreement is
intended to cover all claims or possible claims arising out of or relating to
the Released Matters, whether the same are known, unknown or hereafter
discovered or ascertained. THE PARTIES HEREIN ACKNOWLEDGE THAT THEY HAVE BEEN
ADVISED OF AND ARE FAMILIAR WITH THE PROVISIONS OF CALIFORNIA CIVIL CODE
SECTION 1542, WHICH PROVIDES AS FOLLOWS:

“A GENERAL RELEASE DOES NOT
EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS
FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE
MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.”

BEING AWARE OF SAID CODE
SECTION, THE PARTIES HEREBY EXPRESSLY WAIVE ANY RIGHTS THEY MAY HAVE
THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF
SIMILAR EFFECT.

3

7. Acknowledgment of Waiver of Claims under
ADEA. Brooks acknowledges that he is waiving and releasing any rights he
may have under the Age Discrimination in Employment Act of 1967 (“ADEA”)
and that the waiver and release is knowing and voluntary. Brooks and the
Company agree that the waiver and release does not apply to any rights or
claims that may arise under the ADEA after the Effective Date. Brooks
acknowledges that the consideration given for this waiver and release is in
addition to anything of value to which Brooks was already entitled. Brooks
further acknowledges that he has been advised by the Company in writing that
(a) he should consult with an attorney prior to executing this
Agreement; (b) he has 21 days within which to consider  paragraph 6 of this Agreement; (c) he
has seven days following his execution of this Agreement to revoke paragraph 5
of this Agreement (the “Revocation Period”); and (d) paragraphs 3
and 6 of this Agreement shall not be effective until the Revocation Period has
expired (the “Effective Date”) and Brooks has not revoked those sections during
the Revocation Period.  Brooks acknowledges
and agrees that all other provisions of this Agreement shall remain in full
force and effect notwithstanding any subsequent revocation of paragraph 6 by
Brooks.

8. Confidential and Proprietary Information;
Covenant Not to Compete; Non-Solicitation of Employees.  Brooks shall execute the Company’s standard
form of proprietary information and inventions agreement as required by the
Employment Agreement as of the date he first joined the Company’s Board of
Directors.  Brooks acknowledges that he
shall remain bound by the provisions of such agreement until such time as he is
no longer serving as a director of the Company. 
Brooks acknowledges that he is obligated to protect the confidential and
proprietary information of the Company.

9. Indemnification; Representation. The
Company confirms that Brooks shall continue to be entitled to indemnification
pursuant to and upon the terms and conditions of the Company’s bylaws and the
Indemnity Agreement (the “Indemnity Agreement”) by and between the
Company and Brooks for actions, suits and proceedings by reason of the fact
that he was an employee, officer and director of the Company upon the terms and
subject to the conditions set forth therein. The Company shall continue Brooks
as an insured under all applicable directors and officers liability insurance
policies that have been purchased, or will be purchased, through the last day
that Brooks serves as a member of the Company’s Board.

10. Severability. The provisions of this
Agreement are severable. If any provision is held to be invalid or
unenforceable, it shall not affect the validity or the enforceability of any
other provision.

11. Right To Advice
of Counsel. Brooks acknowledges that he has the right, and is encouraged,
to consult with his lawyer; by his signature below Brooks acknowledges that he
has consulted with his lawyer concerning this Agreement.

12. Non-Disparagement. Brooks and the
Company agree to refrain from any disparagement, criticism, defamation,
slander, or tortious interference with the contracts and relationships of one
another. The Company further agrees to use its best efforts to cause its
officers, directors and principal stockholders to refrain from any
disparagement, criticism, defamation, slander, or tortious interference with
the contracts and relationships of Brooks.

13.  Voluntary
Agreement. Brooks represents that he has thoroughly read and considered all
aspects of this Agreement, that he understands all of its provisions, and that
he is voluntarily entering into this Agreement.

14. Entire Agreement.
This Agreement, the agreements referenced herein (as may be modified hereby), the Company’s stock option plans and
option agreements with Brooks, and any confidentiality or proprietary rights
agreement between Brooks and the Company, together with all of the exhibits
hereto and thereto, set forth the entire agreement between Brooks and the
Company and supersede any and all prior oral or written agreements or
understandings between Brooks and the Company concerning the subject matter hereof
and thereof.

4

15. Amendment.
This Agreement may not be altered, amended or modified except by a further
written document signed by Brooks and an authorized representative of the
Company.

16. Further
Assurances. The parties agree to execute and deliver such further
documents, certificates or agreements, and to perform such further actions as
may be reasonably necessary to carry out the terms of this Agreement.

17. Remedies.
The parties agree that money damages would not be a sufficient remedy for any breach
or threatened breach of this Agreement by any party and that the non-breaching
party shall be entitled to equitable relief, including injunction and specific
performance, as a remedy for such breach or threatened breach. Such remedies
shall not be deemed to be the exclusive remedies for a breach of this Agreement
but shall be in addition to all other remedies available at law or equity.

18. Counterparts.
This Agreement may be executed in two or more counterparts, which, when taken
together, shall constitute the whole of the agreement between the parties
hereto.

19. Governing Law.
This Agreement shall be construed in accordance with the laws of the State of
California, without regard to conflicts of law principles of such state.

20. Legal Expenses. The prevailing party
in any legal action brought by one party against the other and arising out of
this Agreement shall be entitled, in addition to any other rights and remedies
that such prevailing party may have, to reimbursement for expenses incurred by such
prevailing party, including court costs and reasonable attorneys’ fees.

21. Arbitration. Should any dispute
arise relating to the meaning, interpretation or application of this Agreement,
such dispute shall be settled in Sacramento County, California, in accordance
with the applicable rules of the America ASrbitration Association for settling
employment and commercial disputes.

5

IN WITNESS WHEREOF, the parties execute this
Separation Agreement and Release as of the dates written below.

	
  DATE:
  November 30, 2004

  	
  VANTAGEMED
  CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:
  /s/ Philip D. Ranger

  
	
   

  	
  Philip
  D. Ranger

  
	
   

  	
  Chief
  Financial Officer

  
	
   

  	
   

  
	
   DATE:
  November 30, 2004

  	
  By:
  /s/ Richard M. Brooks

  
	
   

  	
  Richard
  M. Brooks, an individual

  

 

6

Exhibit
A

 

Board of Directors

VantageMed Corporation

3017 Kilgore Road, Suite 195

Rancho Cordova, CA 95670

Gentlemen:

Effective immediately, I
hereby resign as Chief Executive Officer of VantageMed Corporation.

 

	
  Date:
  November 8, 2004

  	
   

  	
  /s/
  Richard M. Brooks

  
	
   

  	
   

  	
  Richard
  M. Brooks

  

 

7

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