Document:

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                                                                   Exhibit 10.11

                      COMMERCIAL TENANCY-AT-WILL AGREEMENT

THIS COMMERCIAL TENANCY AT WILL AGREEMENT ("AGREEMENT") is entered into as of
March 14, 2005 by and between 1600 Osgood St., LLC, a Massachusetts Limited
Liability Company, ("LANDLORD") and NxSTAGE Medical, Inc. a Delaware Corporation
("TENANT").

WHEREAS, TENANT, desires to hire the premises as defined below at 1600 Osgood
Street, AND

WHEREAS, the LANDLORD is willing and able to rent the premises,

WHEREAS, in recognition thereof, the parties have agreed to enter into a
Tenancy-at-Will agreement, subject to the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants and conditions
contained herein, the parties agree as follows:

1)    TENANT hereby hires the following premises:

      Approximately 20, 150 net rentable square feet, net rentable equals net
      usable of the first floor of Building 30 in 1600 Osgood Street Commerce
      Center, North Andover, MA. The hired premises are shown via the
      highlighting on the plan of the building attached hereto as Exhibit "A".
      Together with the right to use in common, with others entitled thereto,
      the hallways, stairways, and elevators, necessary for access to said hired
      premises, and necessary for access to shared cafeteria facilities, and
      lavatories nearest thereto.

2)    The First Term of the Rental Period of agreement shall be six months firm
      commencing March 1, 2005. On August 1, 2005, the Rental Period term will
      convert to month-to-month and be known as the Second Term hereunder.

3)    The TENANT shall pay to the LANDLORD rent at the rate of $5,038.00 per
      month, payable in advance subject to proration in the case of any partial
      calendar month. All rent shall be payable without offset or deduction.

4)    Upon the execution of this Agreement, the TENANT shall pay to the LANDLORD
      the amount of $5,038.00 dollars, which shall be held as a security for the
      TENANT's performance as herein provided and refunded to the TENANT at the
      termination of the Agreement, without interest, subject to the TENANT's
      satisfactory compliance with the conditions hereof.

5)    LANDLORD rents to TENANT the premises at the specified rent from rental
      period to rental period. This tenancy may be terminated by a written
      notice given by either party of the other before the first day of any
      rental period and shall be effective on the last day of that rental
      period; provided however, that in the event of any breach by TENANT of the
      AGREEMENT, LANDLORD shall be entitled to pursue any and all remedies
      provided or recognized by applicable law.

6)    This tenancy shall be upon the following conditions:

      a)    CARE OF PREMISES - LANDLORD shall deliver the Premises in broom
            clean condition, with all utilities in good working order. The
            TENANT shall not paint, decorate or otherwise embellish and/or
            change and shall not make nor suffer any additions or alterations to
            be made in or to the premises without the prior written consent of
            the LANDLORD, which shall not be unreasonably withheld, and at
            termination shall deliver up the premises and all property belonging
            to the LANDLORD in good, clean and tenantable order and condition,
            reasonable wear and tear excepted. No air conditioning or space
            heating devices or other like equipment may be installed without the
            prior written consent of the LANDLORD, at LANDLORD's sole
            discretion. Further,

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            TENANT shall not make any structural alterations to the hired
            premises. Any such allowed alterations hereunder shall be at
            TENANT's sole cost and expense and shall be in quality at least
            equal to the present construction. TENANT shall not permit
            mechanics' liens, or similar liens, to remain upon the hired
            premises for labor and material furnished to TENANT or claim to have
            been furnished to TENANT in connection with work of any character
            performed or claimed to have been performed at the direction of
            TENANT, and shall cause any such lien to be released of record
            forthwith without cost to LANDLORD. Any alterations or improvements
            made by TENANT shall become the property of the LANDLORD at the
            termination of occupancy as herein provided, unless LANDLORD
            specifically instructs TENANT to remove such alterations or
            improvements at the termination hereof.

      b)    CLEANLINESS - TENANT shall maintain the premises in a clean
            condition and shall not sweep, throw, or dispose of nor permit to be
            swept, thrown, or disposed of, from said premises nor from any doors
            or other parts of said building, any dirt waste, rubbish, or other
            substance or article into any other parts of said building or the
            land adjacent thereto, except in proper receptacles and except in
            accordance with the rules of the LANDLORD. TENANT agrees to maintain
            the hired premises in good condition, damage by fire and other
            casualty only excepted, and whenever necessary to replace plate
            glass and other glass therein, acknowledging that the hired premises
            are now in good order and the glass whole. The TENANT shall not
            permit the hired premises to be overloaded, damaged, stripped nor
            defaced, nor suffer any waste.

      c)    DISTURBANCE, ILLEGAL USE - Neither the TENANT nor his invitees,
            visitors, or agents shall make or suffer any unlawful, noisy or
            otherwise offensive use of the premises, nor commit or permit any
            nuisance to exist thereon, nor cause damage to the premises, nor
            create any substantial interference with the rights, comfort, safety
            or enjoyment of the LANDLORD or other occupants of the same or any
            other suite, nor make any use whatsoever thereof other than for
            warehousing and order fulfillment. The TENANT shall not permit any
            use of the hired premises which will make voidable any insurance on
            the property of which the hired premises are a part, or on the
            contents on said property or which shall be contrary to any law or
            regulation from time to time established by the New England Fire
            Insurance Rating Association, or any similar body succeeding to its
            powers. TENANT shall on demand reimburse to LANDLORD, and all other
            tenants, all extra insurance premiums caused by the TENANT's use of
            the hired premises.

      d)    HAZARDOUS MATERIALS - TENANT shall not keep in the leased premises
            any inflammable fluids or chemicals, or permit the emission fro the
            leased premises of any objectionable noise or odor; nor dump, flush,
            or in any way introduce any hazardous substances or any other toxic
            substances into the sewage or other waste disposal system serving
            the hired premises or the building; nor generate, store, use or
            dispose of hazardous or toxic substances in or on the hired
            premises, the building or the office park in which they are located
            except as specifically allowed under the terms and conditions
            hereof, and, in any event, at all times in conformance with
            applicable laws, regulations, and ordnances. TENANT shall indemnify,
            defend and hold harmless LANDLORD from and against any damages,
            suits, costs or expense resulting from TENANT's failure to comply
            with the covenants contained in this Section 6.d.. For the purposes
            of the covenants contained herein this section 6.d., TENANT is
            intended and does specifically include all of TENANT's agents,
            employees, licensees, invitees, guests, and any and all other
            persons and/or entities entering onto the leased premises or
            anywhere within building or the office park. "Hazardous substances"
            and "toxic substances" as used herein shall have the same meanings
            as defined an used in the Comprehensive Environmental Response,
            Compensation and Liability Act of 1980, as amended, 42 U.S.C. 9061
            et seq., in the Hazardous Material Transportation Act, 49
            U.S.C.1802; in the Toxic Substances Act, 15 U.S.C. 2601 et seq.; in
            the Resource Conversation and Recovery Act, as amended, 42 U.S.C.
            6921 et seq.; in the Massachusetts Hazardous Waste Management Act,
            as amended; in Massachusetts General Laws Chapter 21; in
            Massachusetts Oil and Hazardous Material Release Prevention and
            Response Act, as amended, in the regulations adopted and
            publications promulgated pursuant to said Acts; and in any other
            applicable laws, rules, regulations and orders.

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      e)    COMMON AREAS - No receptacles or articles of obstructions shall be
            placed in the halls or other common area passageways.

      f)    UTILITIES - The LANDLORD agrees to provide utility service and to
            furnish reasonable hot and cold water and reasonable heat and
            air-conditioning to the hallways, stairways, elevators, and
            lavatories during normal business hours on regulator business days
            of the heating and air-conditioning seasons of each year, to furnish
            elevator service and to light passageways and stairways during
            business hours all subject to interruption due to any accident, to
            the making of repairs, alterations, or improvements, to labor
            difficulties, to trouble in obtaining fuel, electricity, service, or
            supplies fro the sources from which they are usually obtained for
            said building, or to any cause beyond the LANDLORD's control.

            LANDLORD shall have no obligation to provide utilities or equipment
            other than the utilities and equipment within the premises as of the
            commencement date of this agreement, but shall assure that all such
            utilities and equipment are in good working order during the Term of
            this agreement. In the event TENANT requires additional utilities or
            equipment, the installation and maintenance thereof shall be the
            TENANT'S sole obligation provided that such installation shall be
            subject to the written consent of the Landlord. Beginning with the
            Second Term TENANT shall pay, as they become due, all bills for
            electricity and other utilities (whether they are used for
            furnishing heat or other purposes) that are furnished to the hired
            premises and presently separately metered, and all bills for fuel
            furnished to a separate tank servicing the hired premises
            exclusively. With respect to any other utilities serving the hired
            premises, TENANT agrees to reimburse LANDLORD for its proportionate
            share of the costs and expenses of such utilities, and any
            maintenance thereof, incurred by the Landlord, upon such formula as
            LANDLORD may reasonably adopt. All utilities provided hereunder are
            subject to interruption due to any accident, the marking of repairs,
            alterations, or improvements, to labor difficulties, to trouble in
            obtaining fuel, electricity service, or supplies fro the sources
            from which they are usually obtained for said building, or to any
            cause beyond the LANDLORD's control.

            TENANT shall arrange and shall be solely responsible for janitorial,
            cleaning and security services on the hired premises. TENANT shall
            provide and pay for its own telephone and/or cable or other
            communication services.

      g)    PREMISES "AS IS" - TENANT acknowledges that it has inspected the
            hired premises and agreed to accept the hired premised in their "AS
            IS" condition. All exterior doors shall be part of the 1600 Osgood
            Street, LLC Master Key System.

      h)    LOSS OR DAMAGE - TENANT agrees to indemnify and save LANDLORD
            harmless from all liability, loss or damage arising from any
            nuisance made or suffered on the premises by TENANT, visitors,
            agents, or from any carelessness, neglect, or improper conduct of
            any such persons. Subject to the provisions of applicable law,
            LANDLORD shall not be liable for damage to or loss of property of
            any kind while on the hired premises nor to any personal injury,
            unless caused by gross negligence of LANDLORD.

      i)    REPAIRS - TENANT shall at all times keep and maintain the hired
            premises and fixtures therein or used therewith repaired, whole and
            of the same kind, quality and description and in such good repair,
            order and condition as at the commencement of occupancy, or as may
            be put in thereafter, reasonable wear and tear excepted. LANDLORD
            and TENANT agree to comply with any responsibility, which either may
            have under applicable law, to perform repairs upon the hired
            premises. If TENANT fails within a reasonable time to make such
            repairs, then and in any such event, LANDLORD may (but shall not be
            obligated to) make such repairs and TENANT shall reimburse LANDLORD
            for the reasonable cost of such repairs in full, upon demand.

      j)    RIGHT OF ENTRY - The LANDLORD may enter upon the hired premises in
            case of emergency, to make repairs thereto, to inspect the hired
            premises, or to show the premises to prospective tenants,
            purchasers, or mortgagees. The LANDLORD may also enter upon the said
            hired

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            premises if same appear to have been abandoned by the TENANT or as
            otherwise permitted by law.

      k)    OCCUPANCY OF PREMISES - TENANT shall not assign or underlet any part
            or the whole of the hired premises without first obtaining the
            assent in writing of LANDLORD, which may be withheld in LANDLORD's
            sole discretion.

      l)    SUBORDINATION - This tenancy at will shall be subject and
            subordinate to any and all mortgages, deeds of trust, and other
            instruments in the nature of a mortgage, now or at any time
            hereafter, a lien or liens on the property of which the hired
            premises are a part and the TENANT shall, when requested, promptly
            execute and deliver such written instruments as shall be necessary
            to show the subordination of this tenancy at will to said mortgages,
            deeds of trusts, or other instruments in the nature of a mortgage.
            Said subordination shall not be upon the condition that the
            mortgagee, or other interest holder, provides TENANT with any
            agreement concerning non disturbance. In addition, TENANT agrees to
            execute and deliver to LANDLORD within five (5) days of LANDLORD'S
            request therefore, an estoppel certificate in such form as is
            requested any LANDLORD attesting to the status of payments made
            hereunder, security deposits held by LANDLORD, the continued
            effectiveness and enforceability of this tenancy at will, and the
            absence of any defaults on the part of LANDLORD (or indicating the
            nature of any such defaults known by TENANT), and such other matters
            relating to this tenancy at will the hired premises, as LANDLORD may
            reasonably request.

      m)    TENANT's LIABILITY INSURANCE - TENANT shall maintain with respect to
            the hired premises and the property of which the hired premises are
            a part, comprehensive public liability insurance in the amount of
            $1,000,000,00 with property damage insurance in limits of
            replacement cost in responsible companies qualified to do business
            in the Commonwealth of Massachusetts and in good standing therein
            insuring the TENANT against injury to parsons or damage to property
            as provided. TENANT shall deposit with LANDLORD certificates for
            such insurance at or prior to the commencement of term, and
            thereafter within thirty (30) days prior to the expiration of such
            policies. All such insurance certificates shall provide that such
            policies shall not be cancelled without at least ten (10) days prior
            written notice to each insured named therein.

      n)    DEFAULT AND BANKRUPTCY - In the event that TENANT shall default in
            the payment or any installment of rent or other sum herein specified
            beyond the applicable due date hereunder and TENANT shall default in
            the observance of any other of the TENANT's covenants or agreements
            or obligations hereunder. In such default shall not be corrected
            when thirty (30) days after thereof; or the TENANT shall be declared
            bankrupt or insolvent accordingly to law, or, in any assignment
            shall be made of TENANT's property for the benefit of creditors,
            then LANDLORD shall have the right thereafter, while such default
            continues to reenter and take complete possession of the hired
            premises, to declare she tenancy at will ended, remove the TENANT's
            effects without any other remedies which might be available for
            arrears of rent or other sums due hereunder, or for any other
            default. TENANT shall indemnify LANDLORD against all loss of rent
            and other payments which the LANDLORD may incur by reason of such
            termination. If the TENANT shall default in the observance or
            performance of any condition or covenant on TENANT's part to be
            observed or performed under or by virtue of any provision of this
            tenancy at will, LANDLORD may, but without being under any
            obligation to do so and without thereby waiving such result, remedy
            such default for the account and at the expense of TENANT, the cost
            and expense of which, including but not limited to reasonable
            attorneys fees in instituting, prosecuting or defending any such
            action or proceeding, together with interest at the rate of 18% per
            annum, shall be paid by TENANT to LANDLORD as additional rent
            hereunder. Regardless of the provisions hereof, TENANT acknowledges
            and agrees that LANDLORD may terminate this tenancy at will, at any
            time, consistent with paragraph 5 hereof.

      o)    SURRENDER - The TENANT shall at the expiration or other termination
            of this tenancy at will remove of all TENANT's good and effects from
            the hired premises (including, without limiting the provisions
            hereof, all signs and lettering affixed or painted by the TENANT, to
            either inside or

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            outside the hired premises). The TENANT shall deliver to LANDLORD
            the hired premises and all keys, locks thereto, and other fixtures
            connected therewith and all alterations and additions made to or
            upon the hired premises, in good condition, damaged by fire other
            casualty only excepted. In the event of TENANT's failure to remove
            any of TENANT's property from the hired premises, LANDLORD is hereby
            authorized, without liability to TENANT for loss or damage thereto,
            and at the sole risk and expense of TENANT, to remove and store any
            of the property of the TENANT, or retain same under LANDLORD's
            control, or sell at public or private sale, without notice any or
            all of the property not so removed and to apply the net proceeds of
            such sale to the payment of any sum due hereunder, or otherwise
            depose of or destroy such property, it being understood that any
            property remaining at the termination hereof shall be deemed to have
            been abandoned by TENANT.

      p)    FORCE MAJEURE - In the event that LANDLORD is prevented or delayed
            from making any repair of perofring any other covenant hereunder, by
            reason of any cause reasonably beyond the control of LANDLORD,
            LANDLORD shall not be liable to TENANT therefore, nor except as
            expressly otherwise provided in case of casualty or taking, shall
            the TENANT shall be entitled to any abatement or reduction of rent
            by reason thereof, nor shall the same give rise to a claim by the
            TENANT that such failure constitutes actual or constructive eviction
            from the irked premises or any part thereof.

      q)    LATE CHARGE - If rent or any other sum payable hereunder remains
            outstanding for a period of 10 days, TENANT shall pay to LANDLORD at
            a late charge equal to 5% of the amount due for each month or a
            portion thereof during which such arrearage continues.

      r)    LIABILITY OF OWNER - No owner of the property of which the hired
            premises are a part shall be liable hereunder except for breaches of
            the LANDLORD's obligations occurring during the period of such
            LANDLORD's ownership. The obligations of the LANDLORD shall be
            binding upon LANDLORD's interest in said property, but not upon any
            other asset of the LANDLORD, and no individual agent, trustee,
            stockholder, officer, director, manager, employee, member or
            beneficiary of the LANDLORD shall be personally liable for
            performance of the LANDLORD's obligations hereunder.

      s)    NOTICE - Any notice from the LANDLORD to the TENANT relating to the
            leased premises or the occupancy thereof, shall be deemed duly
            serve, if left at the leased premises addressed to the TENANT, or
            mailed to the leased premises, registered or certified mail, return
            receipt request, postage prepaid, addressed to the TENANT. Any
            notice from the TENANT to the LANDLORD relating to the leased
            premises or to the occupancy thereof, shall be deemed duly served,
            if mailed to the LANDLORD by registered or certified mail, return
            receipt requested, postage prepaid, addressed to the LANDLORD at
            such address as the LANDLORD may from time to time advise in
            writing. All rent notices shall be paid and sent to the LANDLORD at
            1600 Osgood Street, LLC, c/o Ozzy Properties, Inc., 3 Dundee Office
            Park, Andover, MA 01810.

      t)    ADDITIONAL PROVISIONS - It is also understood and agreed that:

                  1.    Landlord has agreed to provide industrial fencing/gates
                        sufficient to surround and separate the Premises. Cost
                        to install said fencing is Tenant's responsibility. Upon
                        expiration of this agreement, fencing/gates shall remain
                        the property of Landlord.

                  2.    Landlord has agreed to make a workstation available for
                        Tenant to use on the Premises. Workstation shall consist
                        of cubicle partitioning, a desk and chair. Workstation
                        shall remain the property of Landlord.

                  3.    Landlord has agreed to maintain rodent and insect
                        control programs as required to assure Premises are free
                        from rodent and insect infestation.

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                  4.    Tenant shall have the right house shared shipping docks
                        and product staging areas nearest to hired Premises as
                        required for proper operation of its warehousing and
                        order fulfillment functions.

                  5.    Tenant shall have the right to post identifying signage
                        at the exterior of the shipping dock door area to
                        distinguish the area for appropriate pick-up and
                        delivery services.

IN WITNESS WHEREOF, the said parties hereunto have set their hands on the day
and year first above written.

      1600 Osgood Street, LLC                 NxSTAGE Medical, Inc.

      By: /s/ Orit Goldstein                  By: /s/ Jeffrey H. Burbank
          -------------------------               ------------------------------
          Name: Orit Goldstein                    Name: Jeff Burbank
          Title: Manager                          Title: CEO

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                    MODIFICATION TO TENANCY AT WILL AGREEMENT

This Modification is entered into by and between 1600 Osgood Street, LLC
("LESSOR") and NxStage Medical, Inc. ("LESSEE") with respect to that Commercial
Tenancy-At-Will Agreement dated March 14, 2005 ("AGREEMENT") concerning the
property located in Building 30, 1600 Osgood Street, North Andover, MA 01845.

WHEREAS, the LESSEE desires to lease an additional 4,276 net rentable square
feet of manufacturing space on the first floor of Building 30 at 1600 Osgood
Commerce Center, North Andover, MA, and

WHEREAS, the LESSOR agrees to this expansion, then

WHEREAS, in recognition thereof, the parties have agreed to modify and amend the
LEASE, subject to the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants and conditions
contained herein, the parties agree as follows:

1)    The first sentence of Paragraph 1 shall be amended to read:

            TENANT hereby hires the following premises: Approximately 20,150 net
            rentable Warehouse square feet ("The Warehouse Space"), and 4,276
            net rentable Manufacturing square feet ("The Manufacturing Space")
            for a total of 24,426 net rentable square feet on the first floor of
            building 30 at 1600 Osgood Street Commerce Center, North Andover,
            MA.

2)    Paragraph 2 shall be amended to read as follows:

            The First Term of the rental period of this agreement shall be four
            months commencing March 1, 2005, and include the Warehouse Space
            only. On July 1, 2005, or upon formal approval of the Premises for
            TENANT'S intended use by the Town of North Andover, whichever is
            later, the Premises will be expanded to include the Manufacturing
            Space and be known as the Second Term hereunder. The Second Term
            shall be for 6 months firm. On January 1, 2006, the rental period
            shall convert to a month-to-month and be known as the Third Team
            hereunder.

3)    Paragraph 3 shall be amended to read:

            During the First Term, the TENANT shall pay to the LANDLORD rent at
            the rate of $5,038.00 per month, payable in advance subject to
            pro-ration in the case of any partial calendar month. All rent shall
            be payable without offset or deduction.

            During the Second and Third Terms, the TENANT shall pay to the
            LANDLORD rent at the rate of $6,820.00 per month, payable in advance
            subject to pro-ration in the case of any partial calendar month. All
            rent shall be payable without offset or deduction.

4)    Paragraph 4 shall be amended to include:

            Upon the commencement of the Second Term, Tenant shall pay to
            Landlord the additional amount of $1,782.00, which shall be held as
            a security for the Tenant's performance as herein provided and
            refunded to the Tenant at the termination of the Agreement, without
            interest, subject to the Tenant's

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            satisfactory compliance and with the conditions hereof. This will be
            added to the Deposit paid during the First Term bringing the full
            Security Deposit to $6,820.00.

5)    Tenant agrees to accept the space in its "as is" condition.

Paragraph 6.1 "ADDITIONAL PROVISIONS" shall be amended to include:

-     Landlord has agreed to remove one fabric cubicle from the Manufacturing
      Space in advance of occupancy.

-     Landlord has agreed to provide a means of securing the sliding door of the
      Manufacturing Space to prevent unauthorized access in advance of
      occupancy.

-     Landlord has agreed to clean the floor of the Manufacturing Space in
      advance of occupancy.

-     Landlord has agreed to repair at least one air conditioning unit to
      provide temperature control for employee comfort within the Manufacturing
      Space.

6)    This Agreement contains the entire agreement by and between the parties
      with respect to the modification of LEASE and may not be amended,
      terminated or otherwise modified without the express written consent of
      all parties hereto.

7)    All other terms and provisions as set forth in the LEASE are hereby
      ratified and reaffirmed.

8)    This Modification is entered into this 8th day of July, 2005.

LESSEE:                                                LESSOR:

/s/ Jeffrey H. Burbank                                 /s/ Orit Goldstein
----------------------                                 -------------------------
Jeffrey Burbank                                        Orit Goldstein, Member
President and CEO                                      1600 Osgood Street, LLC

                                       8<PAGE>

                                                                   Exhibit 10.12

                              EMPLOYMENT AGREEMENT

      This Employment Agreement (the "Agreement") is entered into as of March
22, 1999 (the "Effective Date") by and between Qb Medical, Inc., a Delaware
corporation (the `Company" or "Qb Medical"), and Jeffrey H. Burbank, an
individual ("Mr. Burbank"), residing at 18 Sunset Road, Boxford, MA 01921.

                                   WITNESSETH

      WHEREAS, the Company desires to employ Mr. Burbank to provide certain
services to the Company subject to the terms set forth herein; and

      WHEREAS, Mr. Burbank desires to be employed by the Company in return for
certain compensation and benefits.

      NOW, THEREFORE, in consideration of the mutual covenants and agreements
set forth herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

      1. EMPLOYMENT BY THE COMPANY. Subject to the terms and conditions set
forth in this Agreement, the Company agrees to employ Mr. Burbank to render
full-time services to the Company as its Chief Executive Officer. Mr. Burbank
shall perform the duties and have the responsibilities and authorities that are
customarily associated with his then current title, and such other duties of an
executive nature as may be assigned from time to time by the Company's Board of
Directors (the "Board"), consistent with the Bylaws of the Company. In addition,
Mr. Burbank shall serve on the Board for so long as he remains Chief Executive
Officer and shall serve until the first annual meeting of stockholders or until
his successor is elected and qualified. As Chief Executive Officer, and also as
a Director of the Company, Mr. Burbank agrees to devote his best efforts and
substantially all of his business time and attention (except for vacation
periods as set forth herein and reasonable periods of illness or other
incapacities permitted by the Company's general employment policies or, in the
absence of such policies, consistent with the employment policies common to the
industry at large) to the business of the Company and to use the highest degree
of professionalism in performing services for the Company. Notwithstanding the
foregoing, Mr. Burbank may continue to serve on the Board of Directors of VascA,
Inc. ("VascA") and provide consulting services to VascA on terms reasonably
satisfactory to the Board.

      2. COMPENSATION.

            2.1 Salary. During the term of this Agreement, as compensation for
the proper and satisfactory performance of all duties to be performed and
services to be provided under this Agreement, the Company agrees to pay Mr.
Burbank a base salary ("Base Salary") in the amount of Two Hundred Twenty-Five
Thousand Dollars ($225,000) per year of employment, payable on a semi-monthly
basis and in accordance with the Company's standard payroll practices, less
required deductions for state and federal withholding taxes, Social Security and
all

<PAGE>

other employee taxes and payroll deductions (the "Semi-Monthly Base Payment").
Mr. Burbank's base salary shall be reviewed annually by the Board and may be
increased or decreased in the sole discretion of the Board; provided, however,
that if at any time during the Period of Employment Mr. Burbank's Base Salary is
reduced by more than 25%, then Mr. Burbank shall be entitled to terminate his
employment with the Company and such termination shall be considered a Company
initiated termination without cause in accordance with Section 7.3(a) hereof.

            2.2 Equity.

                  (a) As of the Effective Date and subject to the terms of this
Agreement, the Company shall grant to Mr. Burbank an incentive stock option,
exercisable at any time during the Period of Employment (as defined below) and
within ten (10) years after the grant of the option (the "Stock Option"), to
purchase an aggregate of _______ (______) shares of the Company's Common Stock
at a price of _______ ($0.___) per share (the "Shares"). Such number of shares
of Common Stock constitutes six percent (6%) of the fully-diluted shares of
capital stock of the Company as of the anticipated closing of the Company's
Series B Convertible Preferred Stock financing contemplated by the Contribution
Agreement dated as of December 31, 1998 by and among the Company, VascA, Inc.
and certain other parties.

                  (b) The Stock Option shall be immediately exercisable and
Shares acquired upon exercise of the option shall be subject to repurchase by
the Company except to the extent that such shares are "vested." Twenty-five
percent (25%) of the aggregate number of Shares shall vest upon the first
anniversary of the Effective Date, provided that Mr. Burbank has been in the
continuous employment of the Company as an executive officer of the Company from
the Effective Date through and including such anniversary date. The remaining
seventy-five percent (75%) of the Shares shall thereafter vest at the end of
each month at the rate of one thirty-sixth (1/36th) of such remaining shares per
month for so long as Mr. Burbank is employed by the Company in the capacity of
an executive officer and until all remaining Shares have vested or have been
otherwise terminated or canceled pursuant to the terms of this Agreement;
provided, however, that upon a merger or consolidation of the Company with or
into any other corporation or entity (except with or into a wholly-owned
subsidiary or into another corporation which is initially 50% or more owned by
the stockholders of the Company) or a sale of all or substantially all of the
assets of the Company, any previously unvested Shares shall immediately become
fully vested.

                  (c) In the event that Mr. Burbank exercises the Stock Option,
then, upon the death or complete and permanent disability of Mr. Burbank, or
upon the termination of Mr. Burbank's employment for any reason, the Company
shall have the right but not the obligation to repurchase from Mr. Burbank all
Shares subject to such exercise that have not yet vested as of the date of such
death, disability or termination.

      3. ADDITIONAL BENEFITS.

            3.1 Standard Company Benefits. Mr. Burbank shall be entitled to all
rights and benefits for which he would be eligible under the terms and
conditions of the Company's standard benefits package in effect from time to
time for its executive employees, including by

                                       2
<PAGE>

way of illustration only, long-term disability insurance, family health care
insurance, officer and director liability insurance (when provided to the
Company's other officers and/or directors), vacation and sick leave (the "Fringe
Benefits"). The Company agrees to pay Mr. Burbank's monthly COBRA continuation
policy premiums (if any), and the reasonable cost of disability insurance, until
the Company's own health care program is instituted for the Company's employees.
The Company reserves the right to change such Fringe Benefits from time to time
in its sole discretion.

            3.2 Accumulation of Fringe Benefits. Mr. Burbank shall not earn or
accumulate unused vacation or sick leave, or other Fringe Benefits, in excess of
an unused amount equal to the amount of such benefit earned during a one (1)
year period. Furthermore, Mr. Burbank shall not be entitled to receive payments
in lieu of such unused Fringe Benefits, other than for unused vacation earned
and accumulated at the time the employment relationship terminates. All unused
sick leave and other Fringe Benefits earned during the twelve (12) month period
ending on each anniversary of the Commencement Date shall be forfeited if not
used within ninety (90) days following such anniversary date. Notwithstanding
the foregoing, in the event that the Company adopts a more favorable
accumulation policy for its executive officers, Mr. Burbank shall be entitled to
the benefits of such more favorable accumulation policy as of the adoption by
the Company thereof.

      4. OUTSIDE ACTIVITIES. Mr. Burbank agrees that he will not, without first
obtaining the Board's prior written approval, directly or indirectly engage or
prepare to engage in any activity in competition with the Company, provide
services to, or establish a business relationship with, a business or individual
engaged in or preparing to engage in competition with the Company, or accept a
seat on the board of directors or other managing committee or team for any other
business entity, except as otherwise provided herein. For purposes of this
paragraph, the holding of less than one percent (1%) of the outstanding voting
securities of any firm, business or organization in competition with the Company
shall not constitute activities or services precluded by this section.

      5. PROPRIETARY AND CONFIDENTIAL INFORMATION OBLIGATIONS. Mr. Burbank
hereby agrees to execute and acknowledges his obligations pursuant to the
Employee Proprietary Information and Inventions Agreement attached hereto as
Exhibit A (the "Proprietary Information Agreement"), including but not limited
to, the obligation to refrain from using or disclosing the proprietary and
confidential information of the Company. Mr. Burbank further acknowledges that
these obligations shall survive the termination of Mr. Burbank's employment with
the Company.

      6. NONSOLICITATION. While employed by the Company and for one (1) year
thereafter, Mr. Burbank agrees that in order to protect the Company's
confidential and proprietary information from unauthorized use, Mr. Burbank will
not, either directly or through others, solicit or attempt to solicit (i) any
employee, consultant or independent contractor of the Company, other than James
Bruegger, to terminate his or her relationship with the Company in order to
become an employee, consultant or independent contractor to or for any other
person or business entity or (ii) the business of any customer, vendor or
distributor of the Company which, at the time of termination or one (1) year
immediately prior thereto, was listed on the Company's

                                       3
<PAGE>

customer, vendor or distributor list to the extent that the business solicited
relates to products or services which are directly competitive with those of the
Company.

      7. TERM AND TERMINATION OF EMPLOYMENT.

            7.1 Period of Employment. Mr. Burbank's period of employment by the
Company pursuant to this Agreement shall commence on March 22, 1999 (the
"Commencement Date") and shall end upon the date that the employment
relationship is terminated pursuant to this Section 7 (the "Termination Date").
The period of employment commencing on the Commencement Date and ending on the
Termination Date shall be known as the Period of Employment (the "Period of
Employment").

            7.2 Termination at Will. Although Mr. Burbank and the Company
anticipate a long and mutually rewarding employment relationship, Mr. Burbank
and the Company each acknowledge that either party has the right to terminate
Mr. Burbank's employment with the Company at any time for any reason whatsoever,
with or without cause subject, however, to the terms of this Agreement. This
at-will employment relationship cannot be changed except in writing signed by a
duly authorized officer of the Company and Mr. Burbank.

            7.3 Company Initiated Termination.

                  (a) The Company may terminate this employment relationship
immediately without cause upon written notice to Mr. Burbank. In the event the
Company so terminates Mr. Burbank's employment and provided that Mr. Burbank has
executed a release of liability in favor of Qb Medical in a form acceptable to
Qb Medical, Mr. Burbank shall receive a lump sum payment equivalent to his then
accumulated but unused vacation time together with any unpaid benefits through
the date of termination and, as severance, continued payment of his Semi-Monthly
Base Payment for a period of time not to exceed six (6) months after the
Termination Date, or until Mr. Burbank has secured full-time employment or
consulting assignment(s), which ever first occurs (the "Severance Period").

                        i. In the event that, during the Severance Period, Mr.
      Burbank secures full-time employment in which he is paid less per
      semi-monthly period than the amount of the Semi-Monthly Base Payment to be
      received as severance hereunder, then Mr. Burbank shall be entitled to be
      paid reduced severance payments by the Company equal to the difference
      between the amount of the Semi-Monthly Base Payment and the semi-monthly
      compensation to be paid to Mr. Burbank pursuant to such full-time
      employment or consulting assignment(s).

                        ii. In the event that the Company relocates its
      principal place of business to a location more than fifty (50) miles away
      from its current location and Mr. Burbank elects to terminate his
      employment hereunder rather than continue his employment at the new
      location, such termination will be deemed to be a termination by the
      Company without cause and will be subject to the terms of this Section
      7.3(a).

                        iii. IN THE EVENT THAT MR. BURBANK ELECTS TO AND DOES
      RECEIVE ANY OF THE BENEFITS PROVIDED UNDER THIS SUBSECTION 7.3, MR.
      BURBANK AGREES THAT SUCH PAYMENTS SHALL

                                       4
<PAGE>

      CONSTITUTE HIS SOLE AND EXCLUSIVE RIGHTS AND ENTITLEMENTS IN CONNECTION
      WITH HIS EMPLOYMENT BY THE COMPANY, THE TERMINATION OF SUCH EMPLOYMENT AND
      ANY AND ALL MATTERS RELATING TO OR ARISING IN CONNECTION WITH SUCH
      EMPLOYMENT, AND AGREES THAT HIS ACCEPTANCE OF ANY SUCH PAYMENTS SHALL
      RELEASE THE COMPANY AND ANY AND ALL AFFILIATED PERSONS AND ENTITIES
      (INCLUDING ALL DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS) FROM ANY CLAIMS
      THAT MR. BURBANK MAY OTHERWISE HAVE OR ASSERT IN CONNECTION WITH SUCH
      MATTERS. IF MR. BURBANK DESIRES TO PURSUE OR ENFORCE ANY RIGHTS,
      ENTITLEMENTS OR REMEDIES THAT WOULD OTHERWISE BE WAIVED OR RELEASED, THEN
      HE SHALL REFUSE ANY PAYMENTS PROVIDED FOR IN THIS SUBSECTION 7.3. IF MR.
      BURBANK ACCEPTS ANY SUCH SEVERANCE PAYMENT OR PAYMENTS, HE SHALL BE DEEMED
      TO HAVE AGREED TO THE FOREGOING EXCLUSIVITY OF RIGHTS AND WAIVER OF
      CLAIMS.

                  (b) The Company may immediately terminate this employment
relationship with cause upon written notice to Mr. Burbank. In the event Mr.
Burbank's employment is terminated at any time with cause, all of Mr. Burbank's
compensation and benefits will cease immediately, and Mr. Burbank shall not be
entitled to any compensation, severance, acceleration of vesting or other
benefits as of the date of such termination. For purposes of this Agreement,
"cause" shall be limited to the following: (i) Mr. Burbank's willful misconduct
concerning any material responsibility assumed by or reasonably assigned to Mr.
Burbank; (ii) without obtaining the prior written consent of the Company's Board
of Directors, Mr. Burbank's active and intentional performance of services for
any other corporation, business entity or person which competes with the Company
or any of its subsidiaries while Mr. Burbank is employed by the Company or any
of its subsidiaries; (iii) the reasonable determination by the Board of
Directors that Mr. Burbank has stolen or embezzled either funds or property of
the Company or any of its subsidiaries; (iv) Mr. Burbank's conviction by a court
of competent jurisdiction of a felony (other than a traffic or moving violation)
involving moral turpitude or dishonesty; or (v) Mr. Burbank's intentional or
grossly negligent conduct or violation of law which results in either an
improper personal benefit to Mr. Burbank or a material injury to the Company.
Physical or mental disability shall not constitute "cause".

                  (c) Except as expressly provided herein, Mr. Burbank will not
be entitled to any other compensation, severance, pay-in-lieu of notice or any
other such compensation upon the termination of his employment by the Company.
This severance provision does not affect the "at will" nature of Mr. Burbank's
employment.

            7.4 Mr. Burbank Initiated Termination. Mr. Burbank may voluntarily
terminate his employment with the Company at any time by giving the Board thirty
(30) days written notice. In the event Mr. Burbank voluntarily terminates his
employment with the Company, all of Mr. Burbank's compensation and benefits will
cease as of the termination date. Mr. Burbank acknowledges that he will not
receive any severance pay or other benefits upon such voluntary termination,
other than a lump sum payment equivalent to his then accumulated but unused
vacation time together with any unpaid benefits through the date of termination.

                                       5
<PAGE>

            7.5 Exclusive Remedy. The parties agree that the payments and/or
benefits described in subsection 7.3 shall be Mr. Burbank's sole and exclusive
remedy in the event the Company terminates Mr. Burbank's employment, and Mr.
Burbank shall be entitled to no further compensation for any damage or injury
arising out of the termination of his employment by Qb Medical; provided,
however, that nothing contained in this paragraph shall limit Mr. Burbank's
right to be indemnified by Qb Medical for his actions as its officer, employee
or director.

            7.6 Obligations Upon Termination.

                  (a) The obligations of the parties under Sections 5, 6, 7, and
9 shall survive the termination of this Agreement.

                  (b) Upon the end of the Period of Employment, Mr. Burbank
shall promptly deliver to the Company all materials, property, documents, data
and other information belonging to the Company or containing the Company's trade
secrets or other Proprietary Information, as such term is defined in the
Proprietary Information Agreement attached hereto as Exhibit A. Mr. Burbank
shall not take any materials, property, documents or other information, or any
reproduction or excerpt thereof, belonging to the Company or containing any of
the Company's Proprietary Information.

                  (c) Upon termination of the Period of Employment, Mr. Burbank
shall be deemed to have resigned from any and all offices then held with the
Company.

      8. NOTICES. All notices, requests, consents and other communications
required or permitted to be given hereunder shall be in writing and shall be
deemed to have been duly given if personally delivered or delivered by
registered or certified mail (return receipt requested), or private overnight
mail (delivery confirmed by such service) to the address listed below, or to
such other address as either party shall designate by notice in writing to the
other in accordance with the terms hereof:

            If to the Company:

                  Qb Medical, Inc.
                  3 Highwood Drive
                  Tewksbury, Massachusetts 01876
                  Attn: Chairman of the Board

            If to Mr. Burbank:

                  Jeffrey H. Burbank
                  18 Sunset Road
                  Boxford, MA 01921

      9. ARBITRATION/ATTORNEYS' FEES. To ensure rapid and economical resolution
of any and all disputes directly or indirectly arising out of or in any way
connected or related to Mr. Burbank's employment with the Company or the
termination of that employment, with the sole exception of disputes which arise
under Mr. Burbank's Proprietary Information

                                       6
<PAGE>

Agreement (collectively, the "Arbitrable Claims"), the Company and Mr. Burbank
each agree that any and all such disputes, whether of law or fact of any nature
whatsoever, shall, if such dispute cannot be resolved within thirty (30) days
despite good faith negotiation, be resolved by final and binding arbitration by
Judicial Arbitration and Mediation Services, Inc. ("JAMS") in Boston,
Massachusetts. The Arbitrable Claims include, but are not limited to: any and
all such claims related to salary, bonuses, commissions, stock, stock options,
or any other ownership interests in the Company, vacation pay, fringe benefits,
expense reimbursements, severance benefits, or any other form of compensation;
claims pursuant to any federal, state or local law or cause of action including,
but not limited to, the federal Civil Rights Act of 1964, as amended; the
federal Age Discrimination in Employment Act of 1967, as amended; the federal
Americans with Disabilities Act of 1990; tort law; contract law; wrongful
discharge; discrimination; fraud; defamation; emotional distress; and breach of
the implied covenant of good faith and fair dealing. Mr. Burbank and the Company
acknowledge and agree that any and all rights he may otherwise have to resolve
such Arbitrable Claims by jury trial, by a court, or in any forum other than the
JAMS, are hereby expressly waived. If any party to this Agreement brings an
action under this Agreement, the prevailing party will be entitled to recover
his or its attorneys' fees and costs, as well as any, other relief to which that
party may be entitled.

      10. GENERAL.

            10.1 Entire Agreement. This Agreement, and Exhibit A, is the
complete, final and exclusive embodiment of the entire agreement between Mr.
Burbank and the Company with respect to the subject matter hereof. This
Agreement is entered into without reliance upon any promise, warranty or
representation, written or oral, other than those expressly contained herein,
and it supersedes, replaces and substitutes for all prior negotiations,
representations, promises, warranties, or agreements made between Mr. Burbank
and the Company, whether written or oral, concerning the terms and conditions of
Mr. Burbank's employment or the termination of such employment.

            10.2 Severability. If a court of competent jurisdiction determines
that any term or provision of this Agreement is invalid or unenforceable, then
the remaining terms and provisions shall be unimpaired. Such court shall have
the authority to modify or replace the invalid or unenforceable term or
provision with a valid and enforceable term or provision which most accurately
represents the parties' intention with respect to the invalid or unenforceable
term or provision.

            10.3 Successors and Assigns. This Agreement shall bind the heirs,
personal representatives, successors, assigns, executors and administrators of
each party, and inure to the benefit of each party, its heirs, successors and
assigns. However, because of the unique and personal nature of Mr. Burbank's
duties under this Agreement, Mr. Burbank agrees that he shall not be entitled to
delegate the performance of his duties or assign any of his rights or
obligations under this Agreement.

            10.4 Applicable Law. This Agreement shall be deemed to have been
entered into and shall be construed and enforced in accordance with the laws of
the Commonwealth of Massachusetts as applied to contracts made and to be
performed entirely within Massachusetts.

                                       7
<PAGE>

            10.5 Jurisdiction and Venue. In the event that any legal proceedings
are commenced in any court with respect to any matter arising under this
Agreement, Mr. Burbank and the Company specifically consent and agree that the
courts of the Commonwealth of Massachusetts and/or the United States Federal
Courts located in the Commonwealth of Massachusetts shall have exclusive
jurisdiction over each of the parties and such proceedings.

            10.6 Headings. The section headings contained herein are for
reference purposes only and shall not in any way affect the meaning or
interpretation of this Agreement.

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

            10.8 Reimbursement of Attorneys Fees. The Company shall reimburse
Mr. Burbank up to a maximum of three thousand dollars ($3,000) for all
reasonable and necessary attorneys' fees and expenses incurred by him in
connection with the review of this Agreement and the provision of advice in
connection therewith.

                                       8
<PAGE>

      IN WITNESS WHEREOF, the parties have duly authorized and caused this
Agreement to be executed as follows:

JEFFREY H. BURBANK,                        QB MEDICAL, INC.
an individual                              a Delaware corporation

/s/ Jeffrey H. Burbank                     By: /s/ Peter Phildius
------------------------------------           ---------------------------------
                                               Name: Peter Phildius
Date: March 22, 1999                           Title: Chairman of the Board

                                           Date: March 22, 1999

                                        9

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