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                                                                    Exhibit 10.9

                    EMPLOYMENT AND NON-COMPETITION AGREEMENT
                                     BETWEEN

                                 JAMES C. POWERS

                                       AND

                    PHARMACEUTICAL RESEARCH ASSOCIATES, INC.

         THIS EMPLOYMENT AGREEMENT (this "Agreement") is made as of the 27th day
of October, 2004 (the "Effective Date"), by and between Pharmaceutical Research
Associates, Inc., a Virginia corporation ("Employer"), having its principal
office in the Commonwealth of Virginia, which is a wholly-owned subsidiary of
PRA International, a Delaware corporation ("PRA International"), and James C.
Powers ("Employee").

         WHEREAS, Employer and Employee desire to enter into an agreement for
the employment by Employer of Employee commencing on the Effective Date.

         WHEREAS, by entering into this Agreement, the terms of the Employee's
employment with the Employer will be governed by the terms and conditions of
this Agreement and any other prior agreement between the Employee and the
Employer relating to the Employee's employment with the Employer or any of its
affiliated entities is superseded by the terms of the Agreement.

         NOW, THEREFORE, in consideration of the mutual promises, covenants and
conditions set forth below, which consideration is acknowledged by both parties
to be good and sufficient, the parties hereto agree as follows:

         1. Position. Employer hereby agrees to employ Employee as of the
Effective Date (as defined herein) and Employee hereby accepts employment as of
the Effective Date in the position of EXECUTIVE VICE PRESIDENT with appropriate
title, rank, status and responsibilities as determined from time to time by the
President and CEO of Employer ("President and CEO") upon the terms and
conditions hereinafter set forth.

         2. Employment Period.

            (a) The period of employment under this Agreement shall begin on the
Effective Date and shall end on February 28, 2006, unless terminated sooner
pursuant to Section 7 of this Agreement.

            (b) The period during which Employee is employed under the terms of
this Agreement is the "Employment Period."

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         3. Duties. The President and CEO shall have the power to determine the
specific duties that shall be performed by Employee and the means and manner by
which those duties shall be performed, but such duties shall be consistent with
the executive position of Employee.

            (a) During the Employment Period, Employee agrees to use his best
efforts in the business of Employer and to devote his full time, skill,
attention and energies to the business of Employer. Employee shall not be
engaged in any other business activity which shall be competitive with the
business of Employer or which may (i) interfere with Employee's ability to
discharge his responsibilities to Employer; or (ii) detract from the business of
Employer. Employee shall not:

                  (i) work either on a part-time or independent contracting
         basis for any other company, business or enterprise without the prior
         written consent of the President and CEO; or

                  (ii) serve on the board of directors or comparable governing
         body of any other material business, civic or community corporation or
         similar entity without the prior written consent of the President and
         CEO (excluding those positions Employee holds and boards of directors
         on which Employee serves as of the date of this Agreement, which
         positions and boards, if any, are listed on Exhibit A hereto), such
         consent which shall not be unreasonably withheld.

            (b) Employee agrees to use his reasonable efforts to impart his
skill and knowledge relating to the business of Employer to such individuals as
are designated by Employer, and to train such individuals in the aspects of the
business with which Employee is familiar. In addition, at the request of
Employer and without additional compensation, Employee shall use his best
efforts to record and document his knowledge relating to the business of
Employer.

         4. Compensation. For all services rendered by Employee under this
Agreement, for, and in consideration of, Employee's agreements and undertaking
contained in this Agreement (including, without limitation, those contained in
Sections 9 and 10 below), and, subject to Sections 7 and 8 below, during the
Employment Period, Employer shall provide Employee with the following:

            (a) Base Salary. Employer shall pay to Employee, in equal bi-monthly
installments, a base salary of USD$200,000 per year, less relevant deductions.
Employee shall be eligible for salary increases, which may be based on
performance and/or competitive market factors, as determined under the
provisions of any salary policy of Employer that is generally applicable to
Employer's employees, provided that any such increases shall be reviewed and
approved in advance by the Compensation Committee of the Board of Directors of
Employer (the "Board"). Employee shall be

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eligible for such other increases in compensation as are otherwise imposed by
the Board, in its discretion, from time to time.

            (b) Bonus. Employee shall participate in an Executive Bonus Plan
approved by the Board with a minimum annual bonus target of USD$135,000 less
relevant deductions. The performance criteria will be determined by the
Compensation Committee of the Board.

            (c) Long Term Incentives. Employee shall participate under the terms
of the PRA International 2004 Incentive Award Plan ("Incentive Award Plan"),
according to the terms set forth in Exhibit B.

            (d) Review. It is understood and agreed that the Compensation
Committee of the Board will review compensation matters of Employer on a regular
basis, and will (on at least an annual basis) set all annual bonus targets,
salaries and benefits in which Employee shall be eligible to participate.

         5. Benefits. Employee shall be eligible to participate in Employer's
standard benefits programs, which presently include health, life and disability
insurance, and those additional benefits (the "Additional Benefits") currently
offered to Employer's executive staff, including club membership and monthly car
allowance, as described in Exhibit C. It is agreed that the nature and amount of
the Additional Benefits, if any, shall be determined from time to time by the
Compensation Committee of the Board, in its discretion, provided that no
Additional Benefits (as defined above) will be materially reduced. Employee
shall be entitled to paid vacation in accordance with the Employer's vacation
policies in effect for executive staff during the Employment Period. Employee
shall be covered by the holiday policy of the Employer and, by any other pension
or retirement plan, disability benefit plan or any other benefit plan or
arrangement of Employer determined by the Board to be applicable to Employee.

         6. Expense Reimbursement. Subject to such conditions as Employer may
from time to time determine and pursuant to Employer's travel policy then in
place for executives, Employer shall reimburse Employee for reasonable expenses
incurred by Employee in connection with the business of Employer and the
performance of Employee's duties hereunder.

         7. Termination. This Agreement may be terminated under the following
circumstances, having the consequences described in Sections 7 and 8:

            (a) Death of Employee. This Agreement shall terminate immediately
upon the death of Employee. Should this Agreement be terminated pursuant to this
Section 7(a), Employee shall be entitled to Termination Payments as provided for
in Section 7(g).

            (b) Termination by Employer for Disability of Employee. If during
the Employment Period, Employee shall be prevented from performing his duties

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for a continuous period of one hundred and eighty (180) days by reason of
disability that renders Employee physically or mentally incapable of performing
substantially all of his duties under this Agreement (excluding infrequent and
temporary absences due to illness), Employer may terminate Employee's employment
hereunder. If after a period of disability commences (but prior to termination
of Employee's employment), Employee returns to work for a period of at least
twenty (20) consecutive work days, the period of disability shall terminate and
not be counted towards any period of subsequent disability. For purposes of this
Agreement, Employer, upon the advice of a qualified and impartial physician, at
Employer's expense, shall determine whether Employee has become physically or
mentally incapable of performing substantially all of his duties under this
Agreement. Employer shall give Employee (or his guardian, as applicable) thirty
(30) days' written notice of termination of the Employment Period under this
Section 7(b). Should the Employee be terminated pursuant to this Section 7(b),
Employee shall be entitled to Termination Payments as provided for in Section
7(g).

            (c) Termination by Employer for Cause. Employer may terminate
Employee's employment at any time for Cause. For purposes of this Agreement,
"Cause" includes, but is not limited to: (i) a material breach of this Agreement
by Employee (where Employee fails to cure such breach within ten (10) business
days after being notified in writing by Employer of such breach); (ii)
Employee's willful failure to perform his material assigned duties without an
excuse that is reasonably acceptable to Employer; (iii) Employee engages in an
act (or causes an act) that has a material adverse impact on the reputation,
business, business relationships or financial condition of Employer; (iv) the
conviction of or plea of guilty or nolo contendre by Employee to a felony or any
crime involving moral turpitude, fraud or misrepresentation; (v)
misappropriation or embezzlement by Employee of funds or assets of Employer; or
(vi) Employee's willful refusal to perform specific directives of the President
and CEO which are consistent with the scope, ethics and nature of Employee's
duties and responsibilities hereunder. Notwithstanding the foregoing, "Cause"
shall not include a situation whereby Employer asks Employee to be based at any
office or location or to relocate to any location other than within 20 miles of
Employee's then current location and Employee declines to do so. Termination by
Employer for Cause hereunder shall not abrogate the rights and remedies of
Employer in respect of the breach or wrongful act giving rise to such
termination. In the event of termination by Employer for Cause, Employee shall
receive any and all accrued but unpaid base salary compensation (including
accrued paid time off, as applicable) due to Employee as of the Termination
Date.

            (d) Termination by Employer without Cause. This Agreement may be
terminated by Employer for reasons other than death, disability or Cause upon
thirty (30) days' written notice given to Employee. Should the Employee be
terminated pursuant to this Section 7(d), Employee shall be entitled to
Termination Payments as provided for in Section 7(g).

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            (e) Termination by the Employee without Good Reason. This Agreement
may be terminated by Employee upon sixty (60) days' written notice given to
Employer. The sixtieth (60th) day after giving of such notice shall be the
Employee's Termination Date. In the event of termination by Employee without
Good Reason, Employee shall receive any and all accrued but unpaid base salary
compensation (including accrued paid time off, as applicable) due to Employee as
of the Termination Date.

            (f) Termination by Employee for Good Reason. This Agreement may be
terminated by Employee at any time for Good Reason. For purposes of this
Agreement, "Good Reason" shall mean (i) any material breach of this Agreement by
Employer (where Employer fails to cure such breach within ten (10) business days
after being notified in writing by Employee of such breach); (ii) the
diminution, without Employee's written consent, of Employee's position, title,
authority, duties or responsibilities as indicated in this Agreement; or (iii)
the Company requiring the Employee, without Employee's written consent, to be
based at any office or location or to relocate to any location other than within
20 miles of Employee's then current location. Termination by Employee hereunder
in this Section 7(f) shall not abrogate the rights and remedies of Employee in
respect of the breach giving rise to such termination.

            (g) Termination Payments.

                  A. If Employee's employment is terminated pursuant to Section
7(a) (Employee's Death), 7(b) (by Employer for Employee's Disability), 7(d) (by
Employer without Cause) or 7(f) (by Employee for Good Reason) (each of the
circumstances in this Section 7(g)(A) being known as a "Termination Event"),
Employer shall provide Employee (or, in the case of his death, his estate, heirs
or legal representatives) the following (collectively, the "Termination
Payments"):

                  (i) any and all accrued but unpaid base salary compensation
                  (including accrued paid time off, as applicable) due to
                  Employee as of the date on which the Employment Period ends
                  (the "Termination Date"), which shall be paid on the
                  Termination Date; and

                  (ii) Employee's full base salary (payable bi-monthly at the
                  same time Employee would otherwise receive such base salary if
                  Employee were still employed by Employer) for twelve (12)
                  months after the Termination Date; and

                  (iii) health benefits for twelve (12) months after the
                  Termination Date pursuant to COBRA coverage (reimbursed by
                  Employer for the first twelve (12) months) under Employer's
                  health benefit plan under which Employee was receiving
                  coverage during the Employment Period.

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                  B. If a Termination Event (other than the death of Employee as
specified in Section 7(a)) occurs within twelve months after a Change in
Control, then Employee is entitled to the Termination Payments as stated in
Section 7(g)(A)(i) (ii) and (iii) above, except that the period for which salary
and benefits are provided in Sections 7(g)(A)(ii) and (iii) shall be twenty-four
(24) months, and all payments to be made pursuant to those sections shall be
paid to Employee in a lump sum within fifteen (15) days after the Termination
Event. For purposes of this Section and this Agreement, "Change in Control"
shall mean: (i) the sale of all or substantially all of the assets of PRA
International; or (ii) the consummation of a merger or consolidation of PRA
International with any other corporation other than (A) a merger or
consolidation which would result in the voting securities of PRA International
outstanding immediately prior thereto continuing to represent more than fifty
percent (50%) of the combined voting power of the voting securities of PRA
International, or such surviving entity, outstanding immediately after such
merger or consolidation, or (B) a merger or consolidation effected to implement
a recapitalization of PRA International (or similar transaction) in which no
"person" (as defined below) acquires more than thirty percent (30%) of the
combined voting power of PRA International's then-outstanding securities; or
(iii) any "person," as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended (the "Exchange Act") (other than (1)
PRA International or (2) any corporation owned, directly or indirectly, by PRA
International or the shareholders of PRA International in substantially the same
proportions as their ownership of stock in PRA International), becomes after the
Effective Date the "beneficial owner" (as defined in Rule 13d-3 under the
Exchange Act), directly or indirectly, of securities of PRA International
representing thirty percent (30%) or more of the combined voting power of PRA
International's then outstanding securities.

                  C. Employer's obligation to make any Termination Payments
provided in Section 7(g)(A) and (B) above is conditioned upon Employee's
execution and non-recision of a general release in the reasonable form provided
by Employer.

                  (h) Tax Provisions. In the event that any payments under this
Agreement or any other compensation, benefit or other amount from Employer for
the benefit of Employee are subject to the tax imposed by Section 4999 of the
Internal Revenue Code of 1986, as amended (the "Code") (including any applicable
interest and penalties, the "Excise Tax"), no such payment ("Parachute Payment")
shall be reduced (except for required tax withholdings) and Employer shall pay
to Employee by the earlier of the date such Excise Tax is withheld from payments
made to Employee or the date such Excise Tax becomes due and payable by
Employee, an additional amount (the "Gross-Up Payment") such that the net amount
retained by Employee (after deduction of any Excise Tax on the Parachute
Payments, taxes based upon the Tax Rate (as defined below) upon the payment
provided for by this Section 7(h) and Excise Tax upon the payment provided for
by this Section 7(h)), shall be equal to the amount Employee would have received
if no Excise Tax had been imposed. A tax counsel chosen by the Employer's
independent auditors, provided such person is reasonably acceptable to the

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Employee ("Tax Counsel"), shall determine in good faith whether any of the
Parachute Payments are subject to the Excise Tax and the amount of any Excise
Tax, and Tax Counsel shall promptly notify Employee of its determination.
Employer and Employee shall file all tax returns and reports regarding such
Parachute Payments in a manner consistent with Employer's reasonable good faith
determination. For purposes of determining the amount of the Gross-Up Payment,
Employee shall be deemed to pay taxes at the Tax Rate applicable at the time of
the Gross-Up Payment. In the event that the Excise Tax is subsequently
determined to be less than the amount taken into account hereunder at the time a
Parachute Payment is made, Employee shall repay to Employer promptly following
the date that the amount of such reduction in Excise Tax is finally determined
the portion of the Gross-Up Payment attributable to such reduction (without
interest). In the event that the Excise Tax is determined to exceed the amount
taken into account hereunder at the time a Parachute Payment is made (including
by reason of any payment the existence or amount of which cannot be determined
at the time of the Gross-Up Payment), Employer shall pay the Employee an
additional amount with respect to the Gross-Up Payment in respect of such excess
(plus any interest or penalties payable in respect of such excess) at the time
that the amount of such excess is finally determined. Employer shall reimburse
Employee for all reasonable fees, expenses, and costs related to determining the
reasonableness of Employer's position in connection with this paragraph and
preparation of any tax return or other filing that is affected by any matter
addressed in this paragraph, and any audit, litigation or other proceeding that
is affected by any matter addressed in this Section 7(h) and an amount equal to
the tax on such amounts at Employee's Tax Rate. For the purposes of the
foregoing, "Tax Rate" means the Employee's effective tax rate based upon the
combined federal and state and local income, earnings, Medicare and any other
tax rates applicable to Employee, all at the highest marginal rate of taxation
in the country and state of Employee's residence on the date of determination,
net of the reduction in federal income taxes which could be obtained by
deduction of such state and local taxes.

                  8. Survival of Sections of this Agreement. Without regard to
the reason for termination of this Agreement or the employment of Employee, and
notwithstanding anything contained in this Agreement to the contrary, it is
expressly understood and agreed that Employee's obligations under Sections 9,
10, 11 and 12 of this Agreement shall survive termination of this Agreement in
any and all events.

                  9. Confidential Information and Certain Property Matters.

                    (a) Employee recognizes that information, knowledge,
contacts and experience relating to the businesses, operations, properties,
assets, liabilities and financial condition of Employer and the markets and
industries in which it operates, including, without limitation, information
relating to business plans and ideas, trade secrets, intellectual property,
know-how, formulas, processes, research and development, methods, policies,
materials, results of operations, financial and statistical data, personnel data
and customers in and related to the markets and industries in which Employer
operates ("Confidential Information"), is considered by Employer to be valuable,
secret, confidential and proprietary. Employee hereby acknowledges and agrees
that the

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Confidential Information is valuable, secret, confidential and proprietary to
Employer, and further agrees that he shall not, at any time (whether during or
after the Employment Period), make public, disclose, divulge, furnish, release,
transfer, sell or otherwise make available to any person any of the Confidential
Information, or otherwise use or disclose any of the same or allow any of the
same to be used or disclosed for any purpose, other than as may be permitted to
Employee under this Agreement. Notwithstanding the foregoing, Employee may,
without violating this Section 9(a), disclose Confidential Information if (i)
such disclosure is required to comply with a valid court order or any
administrative law order or decree; (ii) Employee gives Employer advance written
notice of the required disclosure so that Employer may, if it wishes, seek an
appropriate protective order; and (iii) Employee, in any event, requests that
any disclosed information be afforded confidential treatment, to the greatest
extent possible.

                    (b) Employee shall fully disclose to Employer all Inventions
made or conceived by him during the Employment Period that would be deemed
applicable, useful or otherwise beneficial to or in respect of the current
business of Employer, in whole or in part. "Inventions" include, but are not
limited to, customer list compilations, machinery, apparatus, products,
processes, results of research and development (including without limitation
results that constitute trade secrets, ideas and writings), computer hardware,
information systems, software (including without limitation source code, object
code, documentation, diagrams and flow charts) and any other discoveries,
concepts and ideas, whether patentable or not (including without limitation
processes, methods, formulas, and techniques, as well as improvements thereof or
know-how related thereto, concerning any present or prospective business
activities of Employer). Any and all Inventions shall be the absolute property
of Employer or its designees, and Employee acknowledges that he shall have no
interest whatsoever in such Inventions. At the request of Employer and without
additional compensation, Employee (i) shall make application in due form for
United States letters patent and foreign letters patent on such Inventions, and
shall assign to Employer all his right, title and interest in such Inventions;
(ii) shall execute any and all instruments and do any and all acts necessary or
desirable in connection with any such application for letters patent or in order
to establish and perfect in Employer the entire right, title and interest in
such Inventions, patent applications or patents; and (iii) shall execute any
instruments necessary or desirable in connection with any continuations,
renewals or reissues thereof or in the conduct of any related proceedings or
litigation. Except as authorized by Employer in writing, Employee shall not
disclose, directly or indirectly, to any person other than Employer, any
information relating to any Invention or any patent application relating
thereto.

                    (c) Employee hereby acknowledges and agrees that the work
performed by Employee pursuant to his employment by Employer will be
specifically ordered or commissioned by Employer, and that such work shall be
considered a "work for hire" as defined in the Copyright Revision Act of 1976
(the "Act"), granting Employer full ownership to the work and all rights
comprised therein. In addition, Employee hereby waives in favor of Employer any
and all moral rights in the work

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contemplated by this Section 9(c) that Employer now has or in the future may
have. Should any work not fall within the definition of a "work for hire" as set
forth in such Act, Employee hereby transfers and assigns to Employer full
ownership of the copyright to the work and all rights comprised therein.
Employee shall sign all applications for registration of such copyright as are
requested by Employer, and shall sign all other writings and instruments and
perform all other acts necessary or desirable to carry out the terms of this
Agreement.

                  10. Non-Competition and Non-Solicitation

                    (a) Employee agrees that during the Employment Period and
for a period of twelve (12) months after Employee's employment with Employer
ceases, for whatever reason (the "Noncompetition Period"), Employee will not,
within the country where Employee's office with Employer was located at the
Termination Date, whether as owner, manager, officer, director, employee,
consultant or otherwise, be engaged or employed by a Competing CRO to provide
Customer Services that are the same or substantially similar to the Customer
Services that Employee performed for Employer at any time during the twenty-four
(24) months prior to the Termination Date.

Employer acknowledges and agrees that ownership by Employee of not more than one
percent (1.0%) of the shares of any corporation having a class of equity
securities actively traded on a national securities exchange or on the Nasdaq
Stock Market shall not be deemed, in and of itself, to violate the prohibitions
set forth in this section.

For the purposes of this Agreement, the term "CUSTOMER SERVICES" means any
product or service provided by Employer to a third party for remuneration,
including, but not limited to, on a contract or outsourced basis, assisting
pharmaceutical or biotechnology companies in developing and taking drug
compounds, biologics, and drug delivery devices through appropriate regulatory
approval processes, (i) during the Employment Period or (ii) about which
Employee has material knowledge and that Employee knows Employer will provide or
has contracted to provide to third parties during the twelve (12) months
following the Employment Period. "CUSTOMER" means any person or legal entity
(and its subsidiaries, agents, employees and representatives) about whom
Employee has acquired material information based on employment with Employer and
as to whom Employee has been informed that Employer provides or will provide
Customer Services. "COMPETING CRO" means any of the following entities and their
affiliates and successors to the extent that and for so long as those said
entities, affiliates, and successors directly compete with Employer in the
provision of Customer Services to Customers: Charles River Laboratories
International, Inc., Covance Inc., ICON plc, Kendle International Inc., MDS
Pharma Services, PAREXEL International Corporation, Pharmaceutical Product
Development, Inc., PharmaNet, Quintiles Transnational Corp., and United
HealthCare Corporation.

                    (b) Employee agrees that he shall not, during the
Noncompetition Period, directly or indirectly, whether as owner, manager,
officer, director, employee, consultant or otherwise, solicit the business of,
or accept business

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from any Customer of Employer at the Termination Date, unless the business being
solicited or accepted is not in competition with or substantially similar to
Employer's Customer Services.

                    (c) Employee agrees that he shall not, during the
Noncompetition Period, directly or indirectly, solicit or induce (or attempt to
solicit or induce) to leave the employ of Employer or any of its affiliates for
any reason whatsoever any person employed by Employer or any of its affiliates
at the time of the act of solicitation or inducement.

                    (d) During and after the Employment Period, Employee agrees
not to disparage Employer or any of its affiliates. During and after the
Employment Period, the officers with whom Employer worked in any twenty four
(24) months prior to the Termination Date agree not to disparage the character
of Employee.

                    (e) Employee hereby specifically acknowledges and agrees
that the provisions of this Section 10 are reasonable and necessary to protect
the legitimate interests of Employer, and that Employee desires to agree to the
provisions of this Section 10. In the event that any of the provisions of this
Section 10 should ever be held to exceed the time, scope or geographic
limitations permitted by applicable law, it is hereby declared to be the
intention of the parties hereto that such provision be reformed to reflect the
maximum time, scope and geographic limitations that are permitted by such law.

                    (f) Employee hereby acknowledges and agrees that, owing to
the special, unique and extraordinary nature of the matters covered by this
Section 10, in the event of any breach or threatened breach by Employee of any
of the provisions hereof, Employer would suffer substantial and irreparable
injury, which could not be fully compensated by monetary award alone, and
Employer would not have adequate remedy at law. Therefore, Employee agrees that,
in such event, Employer shall be entitled to temporary and/or permanent
injunctive relief against Employee, without the necessity of proving actual
damages or of posting bond to enforce any of the provisions of this Section 10,
and Employee hereby waives the defenses, claims, or arguments that the matters
are not special, unique, and extraordinary, that Employer must prove actual
damages, and that Employer has an adequate remedy at law.

                    (g) Employee further agrees that the rights and remedies
described in this Section 10 are cumulative and shall be in addition to and not
in lieu of any other rights and remedies otherwise available under this
Agreement, or at law or in equity, including but not limited to monetary
damages.

                    (h) Notwithstanding any other provision of this Agreement,
Employee further agrees that in the event of any breach by Employee of any of
the provisions of this Section 10, all obligations and liabilities of Employer
under this

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Agreement (including, but not limited to, Sections 6 and 7 hereof) shall
immediately terminate and be extinguished.

                    (i) Employee agrees that Employer shall have the right to
disclose this Agreement or its contents to any future employer of Employee for
the purpose of providing notice of the post-employment restrictions contained
herein. Employer shall provide Employee with written notice if and when Employer
discloses the existence of this Agreement to any future employer of Employee.

                  11. Records. Upon termination of this Agreement for any
reason, Employee shall promptly deliver to Employer all property of Employer
then in Employee's possession or under his control, including but not limited
to: (i) any and all correspondence, mailing lists, drawings, blueprints,
manuals, letters, records, notes, notebooks, reports, flow-charts, programs,
proposals, computer tapes, discs and diskettes; (ii) any and all documents
concerning or relating to Employer's business, clients, customers, investors or
lenders, or concerning products, processes or technologies used by Employer; and
(iii) any and all documents or materials containing or constituting Confidential
Information.

                  12. Arbitration. Except with respect to any attempt to obtain
preliminary injunctive relief to enforce the post-employment restrictive
provisions of this Agreement (in which case any such matter may be brought
initially in a court of competent jurisdiction for purposes of resolving any
request for preliminary injunctive relief), all disputes between Employer and
Employee hereunder, or otherwise arising out of the employment or termination of
employment of Employee, including but not limited to disputes arising under any
state or federal employment discrimination law, shall be settled by arbitration
pursuant to the rules of the American Arbitration Association, in Washington,
D.C. Arbitration hereunder shall be by a single arbitrator appointed by mutual
agreement of the parties. The single arbitrator shall have the authority to
summarily dismiss any claim or claims brought in arbitration prior to a hearing
on the merits. The award rendered by the arbitrator shall be conclusive and
binding upon the parties hereto. Each party shall pay its own expenses of
arbitration and the expenses of the arbitrator shall be equally shared.

                  13. Full Settlement; Mitigation, Costs after a Change in
Control. In no event shall Employee be obligated to seek other employment or
take any other action by way of mitigation of the amounts (including amounts for
damages for breach) payable to Employee under any of the provisions of this
Agreement, and such amounts shall not be reduced whether Employee obtains other
employment. In addition, following a Change in Control only, Employer's
obligation to make the payments provided for in this Agreement and otherwise to
perform its obligations hereunder shall not be affected by any set-off,
counterclaim, recoupment, defense or other claim, right or action which Employer
may have against Employee or others. Notwithstanding any other provisions in
this Agreement to the contrary, in the event that, following a Change in
Control, any successor in interest to Employer unsuccessfully contests and/or
challenges any of

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Employer's rights under this Agreement, then the successor in interest to
Employer shall pay Employee's reasonable attorney's fees and costs incurred in
such contest or challenge.

                  14. Entire Agreement. This Agreement (together with Exhibits
A, B, and C hereto) supersedes and terminates any and all prior agreements or
contracts, written or oral, entered into between Employer and Employee with
regard to the subject matter hereof. Employee acknowledges and agrees that
Employee is not entitled to any salary, bonus, benefits, severance, deferred
compensation or similar payments from Employer or any of its affiliates except
as expressly set forth herein. This instrument contains the entire agreement
between Employer and Employee regarding the employment of Employee by Employer,
and any representation, promise or condition in connection therewith not in
writing shall not be binding upon either party. No amendment, alteration or
modification of this Agreement shall be valid unless in each instance such
amendment, alteration or modification is expressed in a written instrument duly
executed in the name of the party or parties making such amendment, alteration
or modification.

                  15. Severability. The provisions of this Agreement shall be
deemed severable, and if any part of any provision is held to be illegal, void,
voidable, invalid, nonbinding or unenforceable in its entirety or partially or
as to any party, for any reason, such provision may be changed, consistent with
the intent of the parties hereto, to the extent reasonably necessary to make the
provision, as so changed, legal, valid, binding and enforceable. If any
provision of this Agreement is held to be illegal, void, voidable, invalid,
nonbinding or unenforceable in its entirety or partially or as to any party, for
any reason, and if such provision cannot be changed consistent with the intent
of the parties hereto to make it fully legal, valid, binding and enforceable,
then such provision shall be stricken from this Agreement, and the remaining
provisions of this Agreement shall not in any way be affected or impaired, but
shall remain in full force and effect.

                  16. Governing Law. This Agreement is to be governed by and
interpreted under the laws of the state of Delaware, without regard to the
conflicts of laws provisions or rules of such State's law.

                  17. Headings; Form of Words. The headings contained in this
Agreement have been inserted for the convenience of reference only, and neither
such headings nor the placement of any term hereof under any particular heading
shall in any way restrict or modify any of the terms or provisions hereof. Terms
used in the singular shall be read in the plural, and vice versa, and terms used
in the masculine gender shall be read in the feminine or neuter gender when the
context so requires. The term "person" as used herein refers to a natural
person, a corporation, a limited liability company, a partnership, a joint
venture, or other entity or association, as the context requires.

                  18. Notices. All notices, requests, consents, payments,
demands and other communications required or contemplated under this Agreement
("Notices") shall

                                       12
<PAGE>

be in writing and (a) personally delivered; (b) deposited in the United States
mail, registered or certified mail, return receipt requested, with postage
prepaid; or (c) sent by Federal Express or other internationally recognized
overnight delivery service (for next business day delivery), shipping prepaid,
as follows:

                  If to Employer, to:

                  Pharmaceutical Research Associates, Inc.
                  8300 Greensboro Drive, Suite 400
                  McLean, VA  22102
                  Attn:    President and Chief Executive Officer

                  With a copy (which shall not constitute notice) to:

                  The Chairman of the Board at that person's then current
                  business address

                  If to Employee, to:

                  James C. Powers
                  1260 Inglecress Drive
                  Charlottesville, Virginia  22901

or such other persons or address as any party may request by notice given as
aforesaid. Notices shall be deemed given and received at the time of personal
delivery or, if sent by U.S. mail, five (5) business days after the date mailed
in the manner set forth in this Section 18, or, if sent by Federal Express or
other nationally recognized overnight delivery service, one business day after
such sending.

                  19. Counterparts. This Agreement may be executed in any number
of counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

                  20. Successors and Assigns. This Agreement shall be binding
upon and inure to the benefit of Employee and Employee's heirs and legal
representatives and Employer and its successors and assigns. Employee's rights
and obligations under this Agreement are personal to Employee and shall not be
assignable or transferable by Employee (except that Employee's rights may be
transferred upon his death by will, trust, or the laws of intestacy). Employer
shall require any successor (whether direct or indirect, by purchase, merger,
consolidation, share exchange or otherwise) to all or substantially all of the
business and/or assets of Employer to expressly assume in writing and agree to
perform this Agreement in the same manner and to the same extent that Employer
would be required to perform it if no such succession had taken place, except
that no such assumption and agreement will be required if the successor is bound
by operation of law to perform this Agreement. In this Agreement, the term
"Employer"

                                       13
<PAGE>

shall include any successor to Employer's business and assets that assumes and
agrees to perform this Agreement (either by agreement or by operation of law).

                  21. Cooperation. Each party to this Agreement agrees to
cooperate with the other party hereto to carry out the purpose and intent of
this Agreement, including without limitation the execution and delivery to the
appropriate party of all such further documents as may reasonably be required in
order to carry out the terms of this Agreement.

                  22. Waiver. Any waiver of any provision hereof (or in any
related document or instrument) shall not be effective unless made expressly and
in a writing executed in the name of the party sought to be charged. The failure
of any party to insist, in any one or more instances, on performance of any of
the terms or conditions of this Agreement shall not be construed as a waiver or
relinquishment of any rights granted hereunder or of the future performance of
any such term, covenant or condition, but the obligations of the parties with
respect thereto shall continue in full force and effect.

                  23. Indemnification. Employee shall be entitled to be
indemnified by Employer to the fullest extent permitted by the applicable state
law and consistent with Employer's Articles of Incorporation. Employer further
agrees to indemnify Employee to the extent permitted under applicable law for
all actions taken in good faith within the scope, and in the course, of
Employee's employment under this Agreement during the Employment Period for the
life of any claim.

                           [Signature Page to Follow]

                                       14
<PAGE>

                  IN WITNESS WHEREOF, the parties have executed this Agreement
the day and year first above written.

Employer:                                       PHARMACEUTICAL RESEARCH
                                                ASSOCIATES, INC.

                                                By:/s/ Patrick K. Donnelly
                                                --------------------------------
                                                Print Name: Patrick K. Donnelly
                                                Print Title:  President and CEO

Employee:                                       /s/ James C. Powers
                                                --------------------------------
Print Name                                      James C. Powers

                                       15
<PAGE>

                                    EXHIBIT A

  Positions and Boards of Directors on which Employee Serves as of the Date of
                                 this Agreement

                                       16
<PAGE>

                                    EXHIBIT B

                              Incentive Award Plan

         Employee is eligible to participate, at Employee's election, in the
Incentive Award Plan as follows:

         First, upon the initial public offering ("IPO") being effective and
following a 4-1 stock split, Employee will be granted 50,000 PRA International
stock options at the IPO effective strike price. All matters involving the PRA
International stock options, including but not limited to their vesting, their
exercise, and their termination will be governed by the terms of the Incentive
Award Plan and an option agreement to be entered into by Employee in a form
provided by PRA International.

         Second, upon the IPO becoming effective and beginning in 2005 under the
PRA International Management Stock Purchase Plan ("MSPP"), Employee will be
provided the opportunity to purchase PRA International stock in the form of
Restricted Stock Units ("RSUs") with Employer matching in additional stock 100%
of the purchase amount. As part of the MSPP, Employee has the opportunity to
voluntarily purchase RSUs on a pre-tax basis by allocating and deferring a
portion of Employee's annual final cash bonus into the plan in advance of the
plan year. The deferral amount would be capped at a maximum of 50%. All matters
involving the MSPP will be governed by the terms of the MSPP plan documents.

                                       17
<PAGE>
                                   EXHIBIT C

                               Additional Benefits
                               -------------------

Annual Car Allowance:                       USD$10,800
Annual Club Membership:                     USD$1,200

                                       18<PAGE>
                                                                   Exhibit 10.11

                          SECURITIES PURCHASE AGREEMENT

         This Securities Purchase Agreement (this "Agreement"), dated as of June
26, 2001, is by and among GENSTAR CAPITAL PARTNERS III, L.P., a Delaware limited
partnership ("Genstar"), STARGEN III, L.P., a Delaware limited partnership
("Stargen," and, together with Genstar, the "Purchasers," and each, a
"Purchaser") and PRA HOLDINGS, INC., a Delaware corporation (the "Company").

                                    RECITALS

         On or about the date hereof, Virginia Merger Sub, Inc., a Delaware
corporation and an indirect wholly owned subsidiary of the Company ("Merger
Sub") is merging with and into PRA International, Inc., a Delaware corporation
("PRA, Inc.") pursuant to an Agreement and Plan of Merger dated as of May 16,
2001 (the "Merger Agreement") by and among the Company, PRA Sub, Inc., a
Delaware corporation and a wholly owned subsidiary of the Company, Merger Sub,
PRA, Inc. and the other persons listed on the signatures pages thereto.

         Subject to the terms and conditions of this Agreement, each Purchaser
is willing to purchase, and the Company is willing to issue and sell to such
Purchaser, the number of shares of Common Stock (defined hereunder) set forth
opposite the name of such Purchaser on Schedule 1 hereto.

         It is anticipated that on or about the date hereof, pursuant to the
Merger Agreement, among other things (i) the Merger (as defined in the Merger
Agreement) will be consummated, (ii) the Company and certain other purchasers
(the "Other Purchasers") will enter into one or more Subscription Agreements,
(iii) the Company, the Purchasers and the Other Purchasers will enter into a
Stockholders Agreement substantially in the form attached hereto as Exhibit A,
and (iv) the Company and the Purchasers will enter into the Registration Rights
Agreement substantially in the form attached hereto as Exhibit B.

                                    AGREEMENT

         In consideration of the foregoing, and the representations, warranties,
covenants and conditions set forth below, the parties hereto hereby agree as
follows:

         1.       Purchase of Securities, etc.

                  (a)      Purchase of Securities. Subject to all of the terms
 and conditions of this Agreement, each Purchaser hereby agrees to purchase from
the Company, and the Company hereby agrees to sell to each Purchaser, the number
of shares of its common stock, par value $.01 per share (the "Common Stock"),
set forth opposite the name of such Purchaser on Schedule 1 hereto at the
respective purchase prices set forth on Schedule 1. The Common Stock is referred
to in this Agreement as the "Securities," and the aggregate of the purchase
price for the Securities is referred to as the "Purchase Price."

                  (b)      Delivery of Funds and Certificates. The closing of
the purchase and sale of the Securities (the "Closing") shall take place at a
time and place to be designated by the
<PAGE>
Company on at least 24 hours' notice. At the Closing, the Company will deliver
to each Purchaser a duly executed stock certificate, registered in each
Purchaser's name and representing the Common Stock, against payment of the
Purchase Price therefor by delivery to the Company by wire transfer of
immediately available funds in the amount of the Purchase Price representing
payment in full for the Securities.

                  (c)      Legend. The certificate (or certificates)
representing the Common Stock shall bear a legend in substantially the following
form:

                  "THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
                  A STOCKHOLDERS AGREEMENT DATED AS OF JUNE 27, 2001 AMONG PRA
                  HOLDINGS, INC. (THE "COMPANY") AND CERTAIN OF THE COMPANY'S
                  STOCKHOLDERS, AS AMENDED AND MODIFIED FROM TIME TO TIME. A
                  COPY OF SUCH STOCKHOLDERS AGREEMENT SHALL BE FURNISHED WITHOUT
                  CHARGE BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN
                  REQUEST.

                  THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
                  REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
                  "SECURITIES ACT"), OR ANY STATE SECURITIES LAWS AND MAY NOT BE
                  TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO
                  AN EFFECTIVE REGISTRATION UNDER THE SECURITIES ACT OR PURSUANT
                  TO AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY, TO THE
                  EFFECT THAT AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE."

                  (d)      Management Rights. After the Closing and so long as
each Purchaser owns any shares of the Common Stock of the Company, each
Purchaser shall have the right to elect at least one Director to the Company's
Board of Directors in order to substantially participate in and substantially
influence the conduct of the management of the Company and its business.

         2.       Representations and Warranties of the Purchasers. Each
Purchaser individually (but not on behalf of any other Purchaser) represents and
warrants that:

                  (a)      Such Purchaser has full legal capacity, power and
authority to execute and deliver this Agreement, the Stockholders Agreement and
the Registration Rights Agreement and to perform its obligations hereunder and
thereunder. This Agreement has been, and on or before the Closing the
Stockholders Agreement and the Registration Rights Agreement will be, duly
authorized, executed and delivered by each Purchaser and this Agreement is, and
on and after the Closing the Stockholders Agreement and the Registration Rights
Agreement will be, the legal, valid and binding obligation of such Purchaser,
enforceable against it in accordance with the terms hereof and thereof, subject
to (i) the effect of bankruptcy, insolvency, reorganization,

                                       2
<PAGE>

moratorium, fraudulent conveyance, fraudulent transfer, preferential transfer or
distribution laws and other similar laws now or hereafter in effect relating to
or affecting the rights of creditors generally; and (ii) the effect of (A)
general principles of equity, including without limitation concepts of
materiality, reasonableness, good faith and fair dealing and the possible
unavailability of specific performance or injunctive relief, regardless of
whether considered in a proceeding in equity or at law and (B) the discretion of
any court in which an action is brought.

                  (b)      Such Purchaser has been advised that the Securities
have not been registered under the Securities Act of 1933, as amended (the
"Securities Act") or any state securities laws and, therefore, cannot be resold
unless they are registered under the Securities Act and applicable state
securities laws or unless an exemption from such registration requirement is
available. Such Purchaser is purchasing the Securities to be acquired by such
Purchaser hereunder for its own account and not with a view to, or for resale in
connection with, the distribution thereof in violation of the Securities Act.
Such Purchaser is aware that the Company is under no obligation to effect any
such registration with respect to the Securities (except solely to the extent,
if any, provided in the Registration Rights Agreement) or to file for or comply
with any exemption from registration. Such Purchaser is purchasing the
Securities to be acquired by such Purchaser hereunder for its own account and
not with a view to, or for resale in connection with, the distribution thereof
in violation of the Securities Act.

                  (c)      Such Purchaser has such knowledge and experience in
financial and business matters that such Purchaser is capable of evaluating the
merits and risks of such investment, is able to incur a complete loss of such
investment and is able to bear the economic risk of such investment for an
indefinite period of time. Such Purchaser has had the opportunity to ask
questions of the Company with respect to the Company, the Securities, the Merger
and related transactions and to receive such information from the Company
regarding such matters as it deems necessary in making its decision to purchase
the Securities. Such Purchaser is an "accredited investor" as that term is
defined in Regulation D under the Securities Act.

         3.       Representations and Warranties of the Company. The Company
represents and warrants to each Purchaser that:

                  (a)      The Company is duly organized, validly existing and
in good standing under the laws of the State of Delaware. The Company has full
corporate power and authority to carry on the businesses in which it is engaged
and to own, lease and use the properties owned, leased and used by it.

                  (b)      The Company has or prior to the Closing will have
taken all corporate action required to authorize the execution and delivery of
this Agreement, the Stockholders Agreement and the Registration Rights Agreement
and the issuance of the Securities.

                  (c)      The Securities, when issued and upon payment of the
purchase price therefor, will be duly authorized, validly issued, fully paid and
non-assessable.

                  (d)      This Agreement has been, and on or before the Closing
the Stockholders Agreement and the Registration Rights Agreement will be, duly
authorized, executed and delivered by the Company and this Agreement is, and on
and after the Closing the Stockholders

                                       3
<PAGE>

Agreement and the Registration Rights Agreement will be, a legal, valid and
binding obligation of the Company, enforceable against it in accordance with its
respective terms, subject to (a) the effect of bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance, fraudulent transfer,
preferential transfer or distribution laws and other similar laws now or
hereafter in effect relating to or affecting the rights of creditors generally;
and (b) the effect of (i) general principles of equity, including without
limitation concepts of materiality, reasonableness, good faith and fair dealing
and the possible unavailability of specific performance or injunctive relief,
regardless of whether considered in a proceeding in equity or at law and (ii)
the discretion of any court in which an action is brought.

         4.       Restrictions on Transfer. All certificates representing
Securities shall bear legends in the form required under the Stockholders
Agreement until such time as they may be removed as provided therein.

         5.       Conditions to Issuance of Securities. The Company's obligation
to issue and sell the Securities to any Purchaser shall be subject to the
satisfaction of the following conditions:

                  (a)      All representations and warranties of such Purchaser
contained in this Agreement shall be true and correct as of the Closing, and
consummation of the purchases contemplated hereby shall constitute a
reaffirmation by each Purchaser that all representations and warranties of such
Purchaser contained in this Agreement are true and correct as of the Closing.

                  (b)      On or before the Closing, substantially
contemporaneously with the issuance and sale of the Securities hereunder, each
Purchaser shall have duly executed and delivered to the Company a counterpart of
the Stockholders Agreement, the Registration Rights Agreement and such other
documents as the Company may reasonably request in connection with the
transactions contemplated hereby (and the execution of this Agreement
constitutes the agreement of the Purchaser to so execute such documents).

         6.       Miscellaneous.

                  (a)      Notices. All notices and other communications
required or permitted to be given under this Agreement shall be in writing and
shall be deemed to have been given if delivered personally or sent by certified
mail, return receipt requested, postage prepaid, to the parties to this
Agreement at the following address or to such other address as a party to this
Agreement shall specify by notice to the other parties hereto:

         if to either Purchaser:

                  c/o Genstar Capital, L.P.
                  555 California Street, Suite 4850
                  San Francisco, CA 94104
                  Attention:  Jean-Pierre L. Conte
                  Telecopy No.:  (415) 834-2383

                                       4
<PAGE>

         with copies (which shall not constitute notice) to:

                  Latham & Watkins
                  505 Montgomery Street, Suite 1900
                  San Francisco, CA 94111
                  Attention:  Scott Haber
                  Telecopy No.:  (415) 395-8095

         if to the Company:

                  PRA Holdings, Inc.
                  8300 Greensboro Drive, Suite 400
                  McLean, VA 22102
                  Attention:  President
                  Telecopy No.: (703) 748-5199

All such notices and communications shall be deemed to have been received on the
date of delivery or on the third business day after the mailing thereof.

                  (b)      Binding Effect; No Assignment; Benefits. This
Agreement shall be binding upon and inure to the benefit of the parties to this
Agreement and their respective successors and assigns; provided that neither
this Agreement nor any right, remedy, obligation or liability arising hereunder
or by reason hereof shall be assignable by either the Company or any Purchaser
without the prior written consent of the other party. Nothing in this Agreement,
express or implied, is intended or shall be construed to give any person other
than the parties to this Agreement or their respective successors or assigns any
legal or equitable right, remedy or claim under or in respect of any agreement
or any provision contained herein.

                  (c)      Survival. All covenants, agreements, representations
and warranties made herein shall survive the execution and delivery hereof and
transfer of any Securities.

                  (d)      Waiver. Either party hereto may by written notice to
the other (a) extend the time for the performance of any of the obligations or
other actions of the other under this Agreement; (b) waive compliance with any
of the conditions or covenants of the other contained in this Agreement; and (c)
waive or modify performance of any of the obligations of the other under this
Agreement. Except as provided in the preceding sentence, no action taken
pursuant to this Agreement, including, without limitation, any investigation by
or on behalf of any party, shall be deemed to constitute a waiver by the party
taking such action of compliance with any representations, warranties, covenants
or agreements contained herein. The waiver by any party hereto of a breach of
any provision of this Agreement shall not operate or be construed as a waiver of
any preceding or succeeding breach and no failure by either party to exercise
any right or privilege hereunder shall be deemed a waiver of such party's rights
or privileges hereunder or shall be deemed a waiver of such party's rights to
exercise the same at any subsequent time or times hereunder.

                  (e)      Amendment. This Agreement may be amended, modified or
supplemented only by a written instrument executed by each Purchaser and the
Company.

                                       5
<PAGE>

                  (f)      Expenses. The Company agrees that, whether or not the
transactions contemplated by this Agreement are consummated, the Company will
pay or cause to be paid all costs and expenses arising in connection with the
preparation, execution, administration and enforcement of, and the preservation
of rights under, this Agreement, including without limitation:

                           (1)      all taxes (other than taxes based on
income), fees or other charges which may be payable in connection with the sale
or purchase of the Securities pursuant to this Agreement;

                           (2)      all expenses incurred by each Purchaser in
connection with the maintenance of its books and records, preparation of tax
returns and delivery of tax information to its partners;

                           (3)      all expenses incurred by each Purchaser in
connection with its organization, including, without limitation, legal fees;

                           (4)      all reasonable expenses relating to any
amendment or modification of, or any waiver or consent under, any agreement
pertaining to the Merger to which each Purchaser is a party; and

                           (5)      all reasonable travel and other
out-of-pocket expenses of the general partner of each Purchaser incurred in
connection with the operation and business of such Purchaser and such
Purchaser's ownership of the Securities.

                  (g)      Indemnification. Whether or not the transactions
contemplated hereby are consummated, the Company agrees to indemnify and hold
harmless each Purchaser and all limited and general partners of each Purchaser
from and against any liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, claims, costs, attorneys' fees, expenses and
disbursements of any kind which may be imposed upon, incurred by or asserted
against either Purchaser (or any partner thereof) in any manner relating to or
arising out of (i) each Purchaser's purchase and/or ownership of the Securities,
(ii) the Merger, or (iii) any litigation to which either Purchaser (or any of
its partners) is made a party in its capacity as a stockholder or owner of the
Securities (or a partner of a stockholder or owner of such Securities) of the
Company.

                  (h)      Limited Liability of Partners and Members.
Notwithstanding any other provision of this Agreement, neither the general
partner nor the limited partners nor any future general or limited partner of
each Purchaser, and no member, partner or shareholder of any such general
partner or limited partner, shall have any personal liability for performance of
any obligation of such Purchaser under this Agreement in excess of the
respective capital contribution of such general partner and limited partners to
such Purchaser.

                  (i)      Applicable Law. This Agreement shall be governed by
and construed in accordance with the laws of New York, without giving effect to
any choice or conflict of law provision or rule that would cause the application
of the domestic substantive laws of any other jurisdiction.

                                       6
<PAGE>

                  (j)      Section and Other Headings. The section and other
headings contained in this Agreement are for reference purposes only and shall
not affect the meaning or interpretation of this Agreement.

                  (k)      Counterparts. This Agreement may be executed in any
number of counterparts, each of which shall be deemed to be an original and all
of which together shall be deemed to be one and the same instrument.

                  [Remainder of Page Intentionally Left Blank]

                                       7
<PAGE>

         IN WITNESS WHEREOF, the Company and each Purchaser have executed this
Agreement as of the day and year first above written.

                                             PRA HOLDINGS, INC.

                                             By: /s/ JEAN-PIERRE L. CONTE
                                                 -------------------------------
                                                 Name: Jean-Pierre L. Conte
                                                      --------------------------
                                                 Its: President
                                                     ---------------------------

                                             GENSTAR CAPITAL PARTNERS III, L.P.

                                                By:   Genstar Capital III, L.P.
                                                Its:  General Partner

                                                      By:   Genstar III GP LLC
                                                      Its:  General Partner

                                             By: /s/ JEAN-PIERRE L. CONTE
                                                 -------------------------------
                                                 Name: Jean-Pierre L. Conte
                                                      --------------------------
                                                 Its: Managing Director
                                                     ---------------------------

                                             STARGEN III, L.P.

                                                By:   Genstar Capital III, L.P.
                                                Its:  General Partner

                                                      By:   Genstar III GP LLC
                                                      Its:  General Partner

                                             By: /s/ JEAN-PIERRE L. CONTE
                                                 -------------------------------
                                                 Name: Jean-Pierre L. Conte
                                                      --------------------------
                                                 Its: Managing Director
                                                     ---------------------------

                 [Securities Purchase Agreement signature page]

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