Document:

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                                                                    Exhibit 10.3

                                     FORM OF

                  MASTER SEPARATION AND DISTRIBUTION AGREEMENT
                                     BETWEEN

                                  E-Z-EM, INC.

                                       AND

                               ANGIODYNAMICS INC.

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                  MASTER SEPARATION AND DISTRIBUTION AGREEMENT

     THIS MASTER SEPARATION AND DISTRIBUTION AGREEMENT (this "Agreement") is
entered into as of May_____, 2004, between E-Z-EM, Inc., a Delaware corporation
("E-Z-EM"), and AngioDynamics, Inc., a Delaware corporation ("AngioDynamics").
Capitalized terms used herein and not otherwise defined shall have the meanings
ascribed to such terms in Section 10 hereof.

                                    RECITALS

     WHEREAS, the Board of Directors of E-Z-EM (the "E-Z-EM Board") has
determined that it is appropriate and desirable for E-Z-EM to separate
AngioDynamics from the E-Z-EM Group in a manner that would permit E-Z-EM to
divest its entire ownership interest in AngioDynamics through a pro-rata
distribution of all of the outstanding shares of common stock, par value $0.01
per share, of AngioDynamics (the "AngioDynamics Common Stock") to the holders of
common stock, par value $0.10 per share, of E-Z-EM (the "E-Z-EM Common Stock"),
pursuant to the terms and subject to the conditions of this Agreement (the
"Distribution");

     WHEREAS, the Distribution is intended to qualify as a tax-free transaction
to E-Z-EM and its shareholders pursuant to Sections 355 and 368(a)(1)(D) of the
Internal Revenue Code of 1986, as amended (the "Code");

     WHEREAS, AngioDynamics has filed a registration statement on Form S-1
(Registration No. 333-113329) (the "IPO Registration Statement") with the
Securities and Exchange Commission (the "Commission"), pursuant to which
AngioDynamics has registered AngioDynamics Common Stock for AngioDynamics'
initial public offering (the "Offering");

     WHEREAS, the parties intend in this Agreement, including the Exhibits
hereto, to set forth the principal arrangements between them regarding the
Distribution;

     NOW, THEREFORE, in consideration of the foregoing and the covenants and
agreements set forth below, the parties hereto agree as follows:

1.   CERTAIN ACTIONS AT OR PRIOR TO THE DISTRIBUTION DATE

     1.1   Treatment of Intercompany Accounts. Prior to or contemporaneously
with the Commission declaring effective the IPO Registration Statement, E-Z-EM
shall cause all of the intercompany long term debt of $16,148,000 owed by
AngioDynamics to E-Z-EM, less three million dollars ($3,000,000), to be
"capitalized" by making an in-kind contribution to AngioDynamics of its rights
in such obligations or otherwise treating such obligations in the manner
reasonably requested by AngioDynamics in order to minimize or eliminate any
adverse income tax effects upon AngioDynamics. Upon the receipt by AngioDynamics
of proceeds of the Offering, AngioDynamics shall promptly (but in no event after
two (2) Business Days after receipt of same) deliver to E-Z-EM in same day funds
the sum of three million dollars ($3,000,000) as payment in full and
satisfaction of the remaining intercompany indebtedness owing to E-Z-EM by
AngioDynamics.

     1.2   Documents to Be Delivered By E-Z-EM and AngioDynamics. On or prior to
the date on which the Commission declares effective the IPO Registration
Statement, E-Z-EM will execute and deliver (and where applicable cause other
members of the E-Z-EM Group to execute and deliver) to AngioDynamics, and
AngioDynamics will execute and deliver to E-Z-EM (and/or to the appropriate
member of the E-Z-EM Group), each of the following agreements (collectively,
together with all agreements and documents contemplated by this Agreement, the
"Ancillary Agreements"):

           1.2.1  a Tax Allocation and Indemnification Agreement substantially
                  in the form attached hereto as Exhibit A (the "Tax
                  Agreement");

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           1.2.2  a Corporate Agreement substantially in the form attached
                  hereto as Exhibit B (the "Corporate Agreement") and

           1.2.3  such other agreements, documents or instruments as the parties
                  may agree are necessary or desirable in order to achieve the
                  purposes hereof.

2    THE DISTRIBUTION

     2.1   The Distribution.

           2.1.1  Cooperation. AngioDynamics shall cooperate with E-Z-EM to
                  accomplish the Distribution and shall, at E-Z-EM's direction,
                  promptly take any and all actions necessary or desirable to
                  effect the Distribution. E-Z-EM may select any investment bank
                  or manager in connection with the Distribution, as well as any
                  financial printer, solicitation and/or exchange agent and
                  financial, legal, accounting and other advisors for E-Z-EM;
                  provided that nothing herein shall prohibit AngioDynamics from
                  engaging (at its own expense) its own financial, legal,
                  accounting and other advisors in connection with the
                  Distribution. AngioDynamics and E-Z-EM, as the case may be,
                  will provide to the distribution or exchange agent to be
                  appointed by E-Z-EM (the "Distribution Agent") all share
                  certificates and any stockholder and other information
                  required in order to complete the Distribution.

           2.1.2  Distribution Mechanics. Unless E-Z-EM and AngioDynamics shall
                  mutually agree on another method of effecting the
                  Distribution:

                  2.1.2.1 Subject to Sections 2.3, 2.4 and 2.6, on or prior to
                  the Payment Date, E-Z-EM will deliver to the Distribution
                  Agent for the benefit of holders of E-Z-EM Common Stock on the
                  Record Date, a single stock certificate, endorsed by E-Z-EM in
                  blank, representing all of the outstanding shares of
                  AngioDynamics Common Stock then owned by E-Z-EM, and shall
                  cause the transfer agent for the E-Z-EM Common Stock to
                  instruct the Distribution Agent to distribute on the Payment
                  Date the appropriate number of such shares of AngioDynamics
                  Common Stock to each such holder or designated transferee or
                  transferees of such holder of E-Z-EM Common Stock. The
                  Distribution shall be deemed binding on E-Z-EM at 11:59 pm New
                  York Time on the Distribution Date.

                  2.1.2.2 Subject to Sections 2.3, 2.4 and 2.6, each holder of
                  E-Z-EM Common Stock on the Record Date (or such holder's
                  designated transferee or transferees) will be entitled to
                  receive in the pro-rata distribution a number of shares of
                  AngioDynamics Common Stock equal to the number of shares of
                  E-Z-EM Common Stock held by such holder on the Record Date
                  multiplied by the distribution ratio determined by the E-Z-EM
                  Board on the Distribution Date.

     2.2   Actions In Connection with the Distribution.

           2.2.1  Registration under the Exchange Act. In connection with the
                  Offering, AngioDynamics shall have filed a registration on
                  Form 8-A under the Exchange Act (the "Exchange Act
                  Registration Statement"), together with such amendments and
                  supplements thereto as may have been necessary to cause the
                  same to become effective and as may otherwise be required by
                  the Commission or federal, state or foreign securities Laws.
                  AngioDynamics and E-Z-EM shall coordinate the mailing to the
                  holders of E-Z-EM Common Stock, at such time on or prior to
                  the Distribution Date as E-Z-EM shall determine, such
                  information concerning the Distribution and related matters as
                  may be required under applicable federal securities laws, as
                  well as any other information concerning AngioDynamics, its
                  business, operations and

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                  management, the Distribution and such other matters as E-Z-EM
                  shall reasonably determine are necessary (collectively, the
                  "Information Package").

           2.2.2  Other Documentation. E-Z-EM and AngioDynamics shall also
                  cooperate in preparing, filing with the Commission and causing
                  to become effective registration statements or amendments
                  thereto (including registration statements on Form S-8) that
                  are required to reflect the establishment of, or amendments
                  to, any employee benefit, stock option and other plans
                  necessary or appropriate in connection with the Distribution
                  or other transactions contemplated by this Agreement and the
                  Ancillary Agreements.

           2.2.3  Blue Sky. Upon receiving a reasonable request from E-Z-EM to
                  do so, AngioDynamics shall take all such actions (if any) as
                  may be necessary or appropriate under the securities (or "blue
                  sky") laws of the United States (and any comparable Laws under
                  any foreign jurisdiction) in connection with the Distribution.

           2.2.4  Nasdaq Listing. Promptly after receiving a request to do so
                  from E-Z-EM, AngioDynamics shall prepare and file, and shall
                  use its reasonable commercial efforts to have approved and
                  made effective (to the extent not included in the initial
                  application by AngioDynamics in connection with the Offering),
                  an application for the listing on Nasdaq of the AngioDynamics
                  Common Stock to be distributed in the Distribution, subject to
                  official notice of distribution.

           2.2.5  Conditions. AngioDynamics shall take all reasonable steps
                  necessary and appropriate to cause the conditions set forth in
                  Section 2.4 to be satisfied and to effect the Distribution, or
                  any portion thereof, on the terms, in the manner and on the
                  Distribution Date.

     2.3   Sole Discretion of E-Z-EM. E-Z-EM shall, in its sole and absolute
           discretion, determine the date of the consummation of the
           Distribution and all terms of the Distribution, including, without
           limitation, the distribution ratio and the form, structure and terms
           of any transaction(s) to effect the Distribution and the timing of
           and conditions to the consummation thereof. In addition, E-Z-EM may
           at any time and from time to time until the completion of the
           Distribution decide to abandon the Distribution or modify or change
           the terms of the Distribution, including, without limitation, by
           accelerating or delaying the timing of the completion of all or part
           of the Distribution.

     2.4   Conditions To Distribution. Subject to Section 2.3, the following are
           conditions to the consummation of any part of the Distribution. The
           conditions are for the sole benefit of E-Z-EM and shall not give rise
           to or create any duty on the part of E-Z-EM or the E-Z-EM Board to
           waive or not waive any such condition.

           2.4.1  Effective Exchange Act Registration Statement; Periodic
                  Filings. The Exchange Act Registration Statement shall have
                  remained effective under the Exchange Act and AngioDynamics
                  shall be current with its periodic filings under the Exchange
                  Act. There shall be no stop order with respect to any
                  prospectus or registration statement filed by AngioDynamics,
                  nor any stop trading order in effect relating to the
                  AngioDynamics Common Stock.

           2.4.2  Blue Sky Laws. The actions and filings, if any, with regard to
                  state securities and blue sky laws of the United States (and
                  any comparable Laws under any foreign jurisdictions) described
                  in Section 2.2.3 shall have been taken and, where applicable,
                  have become effective or been accepted.

           2.4.3  Nasdaq Listing. The AngioDynamics Common Stock to be delivered
                  in the Distribution shall have been approved for listing on
                  Nasdaq, subject to official notice of issuance.

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           2.4.4  IRS Ruling/Tax Opinion. If the Distribution has not taken
                  place on or prior to February 5, 2005, then E-Z-EM shall have
                  received an opinion from its tax counsel to the effect that
                  the Distribution qualifies as a tax-free spin-off both to
                  E-Z-EM and the holders of E-Z-EM Common Stock who receive
                  AngioDynamics Common Stock in the Distribution (resulting in
                  no recognition of gain or loss or other realization of
                  income).

           2.4.5  Charter and Bylaws. AngioDynamics' Amended and Restated
                  Certificate of Incorporation and Amended and Restated Bylaws
                  in substantially the forms in effect on the closing of the
                  Offering shall remain in effect.

           2.4.6  Ancillary Agreements. Each of the Ancillary Agreements shall
                  have been duly executed and delivered by the parties thereto
                  and shall be in full force and effect.

           2.4.7  Payment of Intercompany Indebtedness to E-Z-EM. E-Z-EM shall
                  have received the three million dollar ($3,000,000) payment
                  required under (and at the time set forth in) Section 1.1
                  hereof.

           2.4.8  Governmental Approvals. Any material Governmental Approvals
                  necessary to consummate the Distribution or any portion
                  thereof shall have been obtained and be in full force and
                  effect.

           2.4.9  No Legal Restraints. No order, injunction or decree issued by
                  any court or agency of competent jurisdiction or other legal
                  restraint or prohibition preventing the consummation of all or
                  any portion of the Distribution shall be in effect, and no
                  other event outside the control of E-Z-EM shall have occurred
                  or failed to occur that prevents the consummation of all or
                  any portion of the Distribution.

           2.4.10 No Inadvisable Event. In addition to, and not in lieu of the
                  provisions of Section 2.3, the E-Z-EM Board shall have
                  approved the Distribution and shall have not determined that
                  any events or developments shall have occurred that make it
                  inadvisable to effect the Distribution.

     2.5   E-Z-EM agrees that if, after the Offering, the E-Z-EM Board decides
           not to complete the Distribution or waives a material condition to
           the Distribution set forth in Section 2.4, E-Z-EM will issue a press
           release to disclose the change in intent or waiver, as applicable, or
           file a report on Form 8-K with the Commission.

     2.6   Fractional Shares. No certificates representing fractional shares of
           AngioDynamics Common Stock will be distributed in the Distribution.
           Instead, on the Payment Date, E-Z-EM shall direct the Distribution
           Agent (i) to determine, based on the Distribution ratio, the amount
           of the fractional share of AngioDynamics Common Stock allocable to
           each holder of record or beneficial owner of E-Z-EM Common Stock and
           to aggregate all such fractional shares into whole shares; (ii) to
           sell the resulting number of whole shares, at the direction of
           E-Z-EM, in open market transactions or otherwise, at the then
           prevailing trading prices, and (iii) to cause to be distributed to
           each such holder or for the benefit of each such beneficial owner to
           which a fractional share shall be allocable such holder or owner's
           ratable share of the proceeds of such sale, after making appropriate
           deductions for any amount required to be withheld for United States
           federal income tax purposes and to repay expenses reasonably incurred
           by the Distribution Agent, including all brokerage charges,
           commissions and transfer taxes, in connection with such sale. E-Z-EM
           and the Distribution Agent shall use their reasonable commercial
           efforts to aggregate the shares of E-Z-EM Common Stock that may be
           held by any beneficial owner thereof through more than one account in
           determining the fractional share allocable to such beneficial owner.

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3    COVENANTS AND OTHER MATTERS

     3.1   Release of E-Z-EM from Credit Support Arrangements. Each party
           acknowledges that, to the best of its knowledge, E-Z-EM has not
           provided or issued, for the benefit of AngioDynamics, any guarantee,
           letter of credit, keepwell or support agreement or other credit
           support document, instrument or other similar arrangement (the
           "Credit Support Arrangements"), other than Credit Support
           Arrangements that have been released or waived, or terminate in
           accordance with their respective terms upon the completion of the
           Offering. In the event that the parties become aware of pre-Offering
           Credit Support Arrangements in the future, AngioDynamics (i) shall
           use all commercially reasonable efforts to cause the obligations of
           members of the E-Z-EM Group to be unconditionally released as of the
           Payment Date or as promptly as practicable thereafter, (ii) shall
           execute and deliver any and all such instruments of substitution and
           such other instruments or agreements as shall be necessary in
           connection with the discharge by AngioDynamics of its obligations
           under this sentence, and (iii) shall not modify or renew, or amend
           the terms of any agreement, instrument or obligation underlying any
           of the Credit Support Arrangements in any manner that could increase,
           extend or give rise to liability of a member of the E-Z-EM Group
           under any such Credit Support Arrangements.

     3.2   Further Assurances and Agreements. In addition to the actions
           specifically provided for elsewhere in this Agreement and the
           Ancillary Agreements, each of E-Z-EM and AngioDynamics shall use its
           reasonable efforts, prior to, on and after the Distribution Date, to
           take, or cause to be taken, all actions, and do, or cause to be done,
           all things, and agree to execute, or cause to be executed, by the
           appropriate parties and deliver, as appropriate, such other
           agreements, instruments and other documents, as such action, thing,
           agreement, instrument or other document may be necessary or desirable
           in order to consummate and make effective the transactions
           contemplated by this Agreement and the Ancillary Agreements.

     3.3   Further Filings by E-Z-EM at the U.S. Patent and Trademark Office.
           Each of E-Z-EM (on behalf of the applicable members of the E-Z-EM
           Group), as transferor, and AngioDynamics, without further
           consideration, agrees (i) to execute and deliver (and E-Z-EM will
           cause any applicable E-Z-EM Group member to execute and deliver) such
           instruments of transfer, conveyance, assignment, substitution and
           confirmation, and to cause same to be filed and/or recorded with the
           U.S. Patent and Trademark Office prior to the date that is six (6)
           months after the completion of the Offering so as to fully effect the
           contributions and transfers to AngioDynamics by E-Z-EM pursuant to
           that certain Contribution Agreement dated as of June 1, 1996 (the
           "Contribution Agreement") and (ii) to take such action as
           AngioDynamics may reasonably deem necessary or desirable in order
           more effectively to transfer, convey and assign to AngioDynamics and
           confirm AngioDynamics' title to all of the assets, rights and other
           things of value contemplated to be transferred or allocated to it
           pursuant to the Contribution Agreement.

     3.4   Manufacturing Arrangements. AngioDynamics agrees that it will
           continue to manufacture the products currently being manufactured for
           E-Z-EM at the respective prices currently charged for such products.
           E-Z-EM agrees to use all commercially reasonable efforts to engage a
           new manufacturer for such products (or comparable products) on or
           prior to December 31, 2004, and AngioDynamics agrees to assist and
           cooperate (at E-Z-EM's expense) with E-Z-EM's change in manufacturer
           for the aforementioned products. If the change in manufacturer for
           the products has not occurred by December 31, 2004, then E-Z-EM and
           AngioDynamics hereby agree that the prices for such products shall be
           increased so as to result in AngioDynamics achieving a gross margin
           of 50% on each such product. Ordering quantities shall be at the sole
           discretion of E-Z-EM; however, unless E-Z-EM orders lesser amounts of
           such products, AngioDynamics shall manufacture for E-Z-EM an amount
           of such products sufficient to sell to E-Z-EM an amount of such
           products consistent with (but subject to normal yearly variances) the
           amount sold to E-Z-EM in calendar 2003. The obligations of
           AngioDynamics hereunder shall terminate upon the earlier of either
           (i) 60 days after E-Z-EM gives notice to AngioDynamics that E-Z-EM no
           longer requires such manufacturing services or (ii) in the absence of
           a mutual agreement to the contrary, December 31, 2005.

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           3.4.1  Upon any termination of the above described manufacturing
                  arrangements by E-Z-EM, E-Z-EM agrees to purchase any finished
                  materials at the agreed upon prices therefor and to acquire
                  from AngioDynamics, at AngioDynamics' cost, such raw materials
                  and components of final products as AngioDynamics was
                  reasonably required to maintain in inventory or as supplies to
                  meet the reasonably anticipated demand by E-Z-EM for
                  AngioDynamics' completed products. For purposes of the
                  preceding sentence, inventory and supplies shall be deemed to
                  be "reasonable" if they do not exceed that required by E-Z-EM
                  over a typical three-month period. AngioDynamics will continue
                  to fulfill E-Z-EM's orders until the effective date of the
                  termination.

           3.4.2  E-Z-EM's unperformed payment obligations and AngioDynamics
                  unperformed manufacturing obligations under the arrangements
                  in this Section 3.4 shall survive the termination of the
                  above-described manufacturing arrangements.

           3.4.3  AngioDynamics shall be liable to E-Z-EM, and shall indemnify
                  and hold E-Z-EM harmless from and against any Claims to the
                  extent caused by the negligence, gross negligence or willful
                  misconduct of AngioDynamics (or those performing the
                  manufacturing services on behalf of AngioDynamics) in
                  performing its obligations under this Section 3.4. E-Z-EM
                  shall be liable to AngioDynamics, and shall indemnify and hold
                  AngioDynamics harmless from and against any Claims to the
                  extent caused by E-Z-EM's modifications, if any, to the
                  products manufactured by AngioDynamics, or product defects
                  that resulted from product specifications provided by E-Z-EM
                  to AngioDynamics.

           3.4.4  Nothing set forth herein shall require E-Z-EM to engage
                  AngioDynamics' to manufacture for any products. E-Z-EM agrees
                  that its obligation to acquire inventory and supplies as set
                  forth in Section 3.4.1 includes inventory and supplies
                  existing on the date hereof to be used by AngioDynamics on the
                  production of products for E-Z-EM.

     3.5   Distribution Arrangements. The parties agree that, if negotiations
           are not completed before the Offering, they will continue to
           negotiate (or, in the case of E-Z-EM, will cause its United Kingdom
           and Canadian subsidiaries to negotiate) in good faith the terms of
           distribution agreements relating to AngioDynamics' products in the
           United Kingdom and Canada. Although subject to the terms of
           definitive agreements, the parties agree that (in the absence of an
           agreement to the contrary) each such agreement will be for three
           years on an exclusive basis, and shall such other terms and
           conditions as AngioDynamics has typically agreed to in contracts with
           unrelated parties. Furthermore, effective May 31, 2004, the parties
           acknowledge that no E-Z-EM subsidiary is continuing as a distributor
           of AngioDynamics' products in Belgium, The Netherlands and
           Luxembourg.

     3.6   Confidentiality and Agreement for the Exchange of Information.

           3.6.1  Confidentiality.

                  3.6.1.1 Except as set forth below and in any Ancillary
                  Agreement with respect to the matters specified therein, upon
                  the completion of the Offering, each of AngioDynamics and
                  E-Z-EM agree that it shall not, except with the prior written
                  consent of the other, at any time within six years of the
                  closing of the Offering, directly or indirectly, disclose,
                  divulge, reveal, report, publish, transfer or use, for any
                  purpose whatsoever, any Confidential Information.
                  Notwithstanding the foregoing, each Party may disclose
                  Confidential Information to its directors, officers,
                  shareholders and employees, but only on a bona fide "need to
                  know" basis, and only if the relevant other person(s) or
                  entity(ies) agree to be bound by this Agreement. Each party
                  shall be responsible for the breach by any such other person
                  of his or her confidentiality obligations to the same extent
                  as if such breach was made by such party. Without limiting the
                  foregoing

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                  obligations, each party agrees to use all reasonable
                  precautions (including taking legal action if necessary or
                  appropriate) to prevent the unauthorized disclosure of the
                  Confidential Information, which precautions shall in no event
                  be less than such party's treatment of its own Confidential
                  Information of a similar nature.

                  3.6.1.2 Disclosure of Confidential Information shall not be
                  prohibited if such disclosure is directly pursuant to the
                  disclosure obligations under the NASD Rules, the rules and
                  regulations of the American Stock Exchange, the Securities Act
                  and/or the Exchange Act, or a valid and existing order of a
                  court or other governmental body or agency of competent
                  jurisdiction; provided in each case, however, that, if
                  practicable in light of filing or other notification
                  requirements under the applicable regulatory scheme, (i) each
                  party shall first have given prompt notice to the other of any
                  such possible or prospective order (or proceeding pursuant to
                  which any such order may result), (ii) the other Party shall
                  have been afforded a reasonable opportunity to review such
                  disclosure and to prevent or limit any such disclosure and
                  (iii) each party shall use its best efforts to prevent or
                  limit any such disclosure by means of a protective order or a
                  request for confidential treatment.

           3.6.2  Provision of Information. Each of E-Z-EM (on behalf of the
                  E-Z-EM Group) and AngioDynamics agrees to provide, or cause to
                  be provided, to the other, as soon as reasonably practicable
                  after written request therefor, any Information in the
                  possession or under the control of the other that the
                  requesting party requests (i) to comply with reporting,
                  disclosure, filing or other requirements imposed on the
                  requesting party (including under applicable securities or tax
                  Laws) by a Governmental Authority having jurisdiction over the
                  requesting party, (ii) for use in connection with any other
                  judicial, regulatory, administrative, tax or other proceeding
                  or in order to satisfy audit, accounting, claims, regulatory,
                  litigation, tax or other similar requirements, in each case
                  other than claims or allegations that one party to this
                  Agreement has against the other, (iii) subject to the
                  foregoing clause (ii) above, to comply with its obligations
                  under this Agreement or any Ancillary Agreement, or (iv) in
                  connection with the ongoing businesses of E-Z-EM or
                  AngioDynamics as it relates to the conduct of such businesses
                  prior to the Payment Date, as the case may be; provided,
                  however, that in the event that any party determines that any
                  such provision of Information could be commercially
                  detrimental, violate any Law or agreement, or waive any
                  attorney-client privilege, the parties shall take all
                  reasonable measures to permit the compliance with such
                  obligations in a manner that avoids any such harm or
                  consequence.

           3.6.3  Internal Accounting Controls. In addition to the accounting
                  and audit-related provisions in the Corporate Agreement, after
                  the Distribution Date, each of E-Z-EM (on behalf of the E-Z-EM
                  Group) and AngioDynamics shall maintain in effect, at its own
                  cost and expense, adequate systems and controls for its
                  business, to the extent necessary to enable the other to
                  satisfy their respective reporting, accounting, audit and
                  other obligations.

           3.6.4  Ownership of Information. Any Information owned by E-Z-EM (or
                  any member of the E-Z-EM Group) or AngioDynamics that is
                  provided to AngioDynamics or E-Z-EM, as applicable, pursuant
                  to this Section 3.6 shall be deemed to remain the property of
                  the party providing such Information. Unless specifically set
                  forth herein, nothing contained in this Agreement shall be
                  construed as granting or conferring rights of license or
                  otherwise in any such Information.

           3.6.5  Record Retention. To facilitate the possible exchange of
                  Information pursuant to this Section 3.6 and other provisions
                  of this Agreement after the Distribution Date, each party
                  agrees to use its reasonable commercial efforts to retain all
                  Information in its respective possession or control on the
                  Distribution Date substantially in accordance with its
                  policies as in effect on the Distribution Date. AngioDynamics
                  shall not amend its record retention policies (or establish
                  such policies for a Subsidiary that is different from that of
                  AngioDynamics on the

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                  date hereof) prior to the Distribution Date without the
                  consent of E-Z-EM. AngioDynamics shall retain, in a manner
                  allowing for reasonable access, Information constituting audit
                  work papers and work papers from internal audits, in each case
                  relating to periods prior to the Distribution Date for at
                  least six years thereafter. Except as set forth in any
                  Ancillary Agreement, at any time after the Distribution Date,
                  each party may amend its respective record retention policies
                  at such party's discretion, but in the case of AngioDynamics,
                  subject to the immediately preceding sentence; provided,
                  however, that if a party desires to effect the amendment
                  within three (3) years after the Distribution Date, the
                  amending party must give thirty (30) days prior written notice
                  of such change in the policy to the other party to this
                  Agreement. No party will destroy, or permit any of its present
                  or future Subsidiaries to destroy, any Information that exists
                  on the Distribution Date (other than Information that is
                  permitted to be destroyed under the current record retention
                  policy of such party) without first using its reasonable
                  commercial efforts to notify the other party of the proposed
                  destruction and giving the other party the opportunity to take
                  possession of such Information prior to such destruction.

           3.6.6  Limitation of Liability. No party shall have any liability to
                  any other party in the event that any Information exchanged or
                  provided pursuant to this Section 3.6 is found to be
                  inaccurate, in the absence of willful misconduct by the party
                  providing such Information. No party shall have any liability
                  to any other party if any Information is destroyed or lost
                  after reasonable commercial efforts by such party to comply
                  with the provisions of Section 3.6.5.

           3.6.7  Other Agreements Providing For Exchange of Information. With
                  respect to the specific issues covered by the Ancillary
                  Agreements, the rights and obligations granted under this
                  Section 3.6 are subject to the more specific limitations,
                  qualifications or additional provisions, if any, on the
                  sharing, exchange or confidential treatment of Information set
                  forth in the applicable Ancillary Agreement.

           3.6.8  Production of Witnesses; Records; Cooperation. After the
                  Distribution Date, each of E-Z-EM (on behalf of the E-Z-EM
                  Group) and AngioDynamics agrees to use reasonable commercial
                  efforts to make available to the other, upon written request,
                  their former, current and future officers, employees, other
                  personnel and agents as witnesses and any books, records or
                  other documents within its control or which it otherwise has
                  the ability to make available, to the extent that any such
                  person (giving consideration to business demands of such
                  officers, employees, other personnel and agents) or books,
                  records or other documents may reasonably be required in
                  connection with any legal, regulatory, administrative or other
                  proceeding in which the requesting party may from time to time
                  be involved, regardless of whether such legal, regulatory,
                  administrative or other proceeding is a matter with respect to
                  which indemnification may be sought hereunder. The requesting
                  party shall bear all reasonable costs and expenses of the
                  other party in connection with the latter party's compliance
                  with the foregoing requests.

     3.7   Expenses. Except as otherwise provided in this Agreement and/or the
           Ancillary Agreements, all out-of-pocket costs and expenses of the
           parties in connection with the Distribution shall be the
           responsibility of E-Z-EM.

     3.8   Governmental Approvals. The parties acknowledge that certain of the
           transactions contemplated by this Agreement and the Ancillary
           Agreements may be subject to certain conditions established by
           applicable regulations, orders, and approvals of Governmental
           Authorities ("Existing Authority"). The parties intend to implement
           this Agreement, the Ancillary Agreements and the transactions
           contemplated hereby and thereby consistent with and to the extent
           permitted by applicable Existing Authority and to cooperate toward
           obtaining and maintaining in effect such Governmental Approvals as
           may be required in order to implement this Agreement and each of the
           Ancillary Agreements as fully as possible in accordance with their
           respective terms. To the extent that any of the transactions

                                        8

<PAGE>

           contemplated by this Agreement or any Ancillary Agreement require any
           Governmental Approvals, the parties will use their reasonable
           commercial efforts to obtain any such Governmental Approvals.

     3.9   Non-Competition.

           3.9.1  Except as permitted under Sections 3.9.2 and 3.9.3, for a
                  period of two years from the completion of the Offering, (i)
                  AngioDynamics shall not engage in any activities or lines of
                  business included within the E-Z-EM Business and (ii) E-Z-EM
                  shall not engage in any activities or lines of business
                  included within the AngioDynamics Business. (For purposes of
                  this Section 3.9, the business of the other party is
                  hereinafter referred to as "Prohibited Activities" of a
                  party.) Solely as between AngioDynamics and E-Z-EM, to the
                  maximum extent permitted under Section 122(17) of the Delaware
                  General Corporation Law, each of AngioDynamics and E-Z-EM
                  hereby renounces an interest or expectancy in being offered an
                  opportunity to participate in business opportunities that are
                  Prohibited Activities during the above-referenced two-year
                  period.

           3.9.2  Notwithstanding anything in this Agreement to the contrary,
                  E-Z-EM and, subject to Articles 1 and 6 of the Corporate
                  Agreement, AngioDynamics shall be permitted to make
                  acquisitions of and investments in any entity engaged in
                  Prohibited Activities; provided, that, the aggregate of all
                  Prohibited Activities will have represented in such entity's
                  most recently completed fiscal year not more than 20% of the
                  consolidated revenues or net income of such entity being
                  acquired or in which the investment is being made.

           3.9.3  Notwithstanding anything in this Agreement to the contrary,
                  this Section 3.9 shall not apply to (i) any Person (an
                  "Acquiror") who becomes an Affiliate of AngioDynamics or
                  E-Z-EM, as applicable, after the completion of the Offering as
                  a result of an acquisition of Equity Securities, or (ii) any
                  Person who was an Affiliate of such Acquiror prior to such
                  acquisition. Nothing herein shall be deemed as limiting the
                  restrictions on issuances of Equity Securities under the
                  Corporate Agreement or any other Ancillary Agreement.

     3.10  Use of Other Party's Name and Marks. AngioDynamics acknowledges that
           E-Z-EM shall own all rights in the "E-Z-EM" name and logo and related
           tradenames and marks, and E-Z-EM acknowledges that AngioDynamics
           shall own all rights in the name "AngioDynamics" and AngioDynamics's
           logo and related tradenames and marks. Subject to the final sentence
           of this Section 3.10, within thirty (30) days following the
           Distribution Date, each party shall (x) cease, and shall cause each
           of its Subsidiaries, if any, to cease, to all use of the other
           parties name or any variation thereof as part of its corporate or
           organizational name, including by causing all licenses,
           certifications and authorizations issued to its respective personnel,
           the name of which includes or included the name of the other party or
           any variation thereof, to be reissued or amended, to the extent
           necessary, to remove from such licenses, certifications and
           authorizations any references to the other party's name or any
           variation thereof in the names of the holders thereof that may be
           reflected on such licenses, certifications and authorizations (or any
           related documentation). Subject to the final sentence of this Section
           3.10, within sixty (60) days following the Distribution Date, each
           party shall cease, and shall cause all of its personnel and
           Subsidiaries, if any, to cease all other use of the other party's
           name and any variation thereof (including in the URL of any website,
           unless the other party consents thereto in writing), and the other
           party's logo and related tradenames and marks. A party may use such
           names, logos and marks of the other during such 60-day period only to
           the extent (if any) that it is not practical to change or replace any
           existing signs, letterheads, business cards, invoices or other
           business forms, telephone directory listings or promotional material,
           provided that each party shall maintain, and shall cause its
           respective personnel and Subsidiaries, if any, to maintain the same
           standards of quality with respect to such names, logos and marks as
           previously exercised. Notwithstanding anything in this Section 3.10
           to the contrary, each party may continue, up to and including the
           later of (i) December 31, 2004 or (ii) six months after the Payment
           Date, to distribute in the ordinary course of business promotional
           materials that contain references to the other's name and related
           tradenames, marks and

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<PAGE>

           logos. Furthermore, prior to the Payment Date, each party may use the
           other party's name in press releases to the extent beneficial in
           making such press releases not misleading at the time released.

4    OPTION PLANS

     4.1   E-Z-EM Option Plans. Prior to the Payment Date, E-Z-EM will take all
           action necessary and appropriate to effect amendments to the E-Z-EM
           Option Plans such that (i) the Distribution will not be deemed a
           "termination" of the employment of any AngioDynamics Employee for the
           purposes of such Plans, and (ii) following the Distribution,
           termination of employment of any AngioDynamics Employee for the
           purposes of such Plans will be determined by reference to employment
           by AngioDynamics or any of its Subsidiaries. Following the
           Distribution, E-Z-EM shall continue the E-Z-EM Option Plans, as so
           amended, and shall continue to reserve those shares of E-Z-EM Common
           Stock already reserved for issuance thereunder.

     4.2   Existing AngioDynamics Option Plans. Prior to the completion of the
           Offering, AngioDynamics shall take all action necessary and
           appropriate to present to E-Z-EM all, if any, of AngioDynamics' stock
           option plans that have not yet been approved by E-Z-EM, in its
           capacity as the sole stockholder of AngioDynamics, and E-Z-EM hereby
           agrees to approve same. The provisions of clauses (i) and (ii) of
           Section 4.1 shall apply to AngioDynamics mutatis mutandis.
           AngioDynamics hereby agrees to continue to reserve at least those
           shares of AngioDynamics Common Stock already reserved for issuance
           thereunder.

     4.3   AngioDynamics Adjustment Plans. Prior to the completion of the
           Offering, AngioDynamics shall take, or cause to be taken, all action
           necessary and appropriate (i) to ratify the adoption of all necessary
           AngioDynamics Adjustment Plans, and (ii) to present the AngioDynamics
           Adjustment Plans to E-Z-EM, as the sole stockholder of AngioDynamics,
           for approval. To the extent authorized by E-Z-EM prior to the
           completion of the Offering, AngioDynamics shall reserve for issuance
           under each AngioDynamics Adjustment Plan such number of shares of
           AngioDynamics Common Stock necessary to grant Options pursuant to
           Section 4.4.2 hereof. Any shares reserved for issuance under an
           AngioDynamics Adjustment Plan that are not used to grant
           AngioDynamics Options under Section 4.4.2 will not be available for
           future awards thereunder.

     4.4   Treatment of Existing E-Z-EM Options. After the Distribution Date and
           prior to the Payment Date, each Existing E-Z-EM Option will be
           converted into an Adjusted E-Z-EM Option and will entitle the grantee
           to receive a grant of a AngioDynamics Option, as follows:

           4.4.1  Following the Payment Date, each Existing E-Z-EM Option will
                  survive as an Adjusted E-Z-EM Option in accordance with the
                  terms of the Existing Option and the terms of (i) the relevant
                  non-plan grant, or (ii) E-Z-EM Option Plan, as amended
                  pursuant to Section 4.1 hereof, as the case may be, except
                  that the exercise price of, and number of shares of E-Z-EM
                  Common Stock subject to the Adjusted E-Z-EM Option will be
                  determined as provided in Section 4.6 hereof. E-Z-EM shall use
                  all commercially reasonable efforts to enter into new option
                  agreements with each grantee of an Adjusted E-Z-EM Option,
                  reflecting the modifications required by this Section 4.

           4.4.2  After the Distribution Date and prior to the Payment Date,
                  AngioDynamics shall grant, to each grantee of an Existing
                  E-Z-EM Option, an AngioDynamics Option, under the appropriate
                  AngioDynamics Adjustment Plan, Existing AngioDynamics Option
                  Plan or pursuant to a non-plan grant, as the case may be,
                  which option will be subject to the same terms and conditions
                  of the Existing E-Z-EM Option, except that (i) the option will
                  be exercisable to purchase shares of AngioDynamics Common
                  Stock and the exercise price of, and number of shares of
                  AngioDynamics Common Stock subject to, the AngioDynamics
                  Options shall be determined as provided in Section 4.5 below,
                  and (ii) the vesting and lapsing thereof shall be adjusted as
                  set forth in Section 4.6 below. AngioDynamics shall use all

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<PAGE>

                  commercially reasonable efforts to enter into new option
                  agreements with each grantee of an option to acquire
                  AngioDynamics Common Stock under this Section 4.4.2, which
                  agreements will reflect the modifications required by this
                  Section 4.

     4.5   Adjustment and Setting of Number of Shares and Exercise Prices.

           4.5.1  The number of shares of E-Z-EM Common Stock subject to each
                  Adjusted E-Z-EM Option will equal the number of shares of
                  E-Z-EM Common Stock subject to the Existing E-Z-EM Option that
                  survives as the applicable Adjusted E-Z-EM Option. Subject to
                  Section 4.5.2, AngioDynamics and E-Z-EM agree to establish (y)
                  the ratio of the exercise price of the AngioDynamics Options
                  to the market price of the AngioDynamics Common Stock equal to
                  (z) the ratio of the exercise price of the Adjusted E-Z-EM
                  Options to the market price of the E-Z-EM Common Stock. In no
                  event will options to purchase any fractional shares of E-Z-EM
                  Common Stock or AngioDynamics Common Stock be issued, nor will
                  any cash be paid in lieu thereof. Options will be issued for
                  whole shares only, determined by rounding down.

           4.5.2  The number of shares of E-Z-EM Common Stock and AngioDynamics
                  Common Stock subject to options and the adjusted exercise
                  price of each Adjusted E-Z-EM Option and of the related
                  AngioDynamics Option shall be determined in such a manner so
                  that the aggregate "intrinsic value" of the Adjusted E-Z-EM
                  Option and the AngioDynamics Option together will equal the
                  intrinsic value of the Existing E-Z-EM Stock Option to which
                  such options relate. For the purposes of this Section 4.5.2,
                  "intrinsic value" means:

                  4.5.2.1 with respect to each Existing E-Z-EM Stock Option, the
                  difference between the exercise price and the last reported
                  sale price of E-Z-EM Common Stock on the last date on which
                  E-Z-EM Common Stock trades as though E-Z-EM still owns
                  AngioDynamics (i.e., the last date on which E-Z-EM trades on
                  an "on dividend" basis), as reported by the American Stock
                  Exchange, multiplied by the number of shares of E-Z-EM Common
                  Stock covered by such option;

                  4.5.2.2 with respect to each Adjusted E-Z-EM Option, the
                  difference between the exercise price and the average of the
                  last reported sales prices of E-Z-EM Common Stock on the date
                  immediately after the Payment Date, as reported by the
                  American Stock Exchange, multiplied by the number of shares of
                  E-Z-EM Common Stock covered by such option; and

                  4.5.2.3 with respect to each AngioDynamics Option granted
                  pursuant to Section 4.4.2, the difference between the exercise
                  price and the average of the last reported sales prices of
                  AngioDynamics Common Stock on date immediately after the
                  Payment Date, as reported by the Nasdaq National Market,
                  multiplied by the number of shares of AngioDynamics Common
                  Stock covered by such option.

     4.6   Vesting and Lapsing of AngioDynamics Options. The AngioDynamics
           Options granted under Section 4.4.2 will vest and become exercisable
           in accordance with the terms of the Existing E-Z-EM Options to which
           they relate, but will expire on the earlier of (i) the date on which
           the Existing E-Z-EM Option would have expired (subject to Section
           4.1) or (ii) the date calculated as follows:

           4.6.1  For officers and directors of AngioDynamics,

                  4.6.1.1 One-half of the AngioDynamics Options will expire upon
                  the later of (i) 12 months after one-half of the options
                  become exercisable in full and (ii) 12 months after expiration
                  of the 180-day lock-up period described in the "Underwriting"
                  section of the IPO Registration Statement.

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<PAGE>

                  4.6.1.2 The remaining one-half of the options will expire upon
                  the later of (i) 24 months after the remaining one-half of the
                  options become exercisable in full and (ii) 24 months after
                  expiration of the 180-day lock-up period described in Section
                  4.6.1.1.

           4.6.2  For all other options recipients,

                  4.6.2.1 One-half of their options will expire upon the later
                  of (i) 12 months after one-half of the options become
                  exercisable in full and (ii) 12 months from the Payment Date.

                  4.6.2.2 The remaining one-half of their options will expire
                  upon the later of (i) 24 months after the remaining one-half
                  of the options become exercisable in full and (ii) 24 months
                  from the Payment Date.

     4.7   Employment Taxes. Upon the exercise of AngioDynamics Options granted
           under any AngioDynamics Adjustment Plan, AngioDynamics, as agent for
           E-Z-EM, shall collect and timely remit to E-Z-EM the employee's share
           of all required employment taxes (including federal and state income
           taxes required to be withheld and the employee's share of FICA taxes)
           relating to such exercises, and shall otherwise cooperate in such
           fashion, provide such information and take such action as E-Z-EM may
           request to assure that proper and timely employment tax remittance
           and reporting is made by E-Z-EM with respect to such exercises and to
           establish E-Z-EM's entitlement to deduct on its income tax returns
           the compensation expense arising from such exercises, pursuant to
           Treas. Reg. Section 1.83-6. Provided that AngioDynamics fulfills its
           obligations under this Section 4.7, AngioDynamics shall be entitled
           to receive and retain the aggregate exercise price payable to
           AngioDynamics upon such exercises.

     4.8   Communication Regarding Termination Of Employment and Effect on
           Outstanding Options. E-Z-EM shall promptly notify AngioDynamics of
           the termination of employment of any E-Z-EM Employee holding
           AngioDynamics Options. AngioDynamics shall promptly notify E-Z-EM of
           the termination of employment of any AngioDynamics Employee holding
           an E-Z-EM Option. Such notices with respect to termination shall
           specify the date of termination, the reason for termination (e.g. for
           cause, without cause, upon a change of control, etc.), whether the
           termination is with or without written consent and the effect that
           such termination has on any outstanding grant or award of options.

     4.9   Determination of Consent to Termination of Employment Plans. Each
           party agrees that the giving or withholding of consent to the
           termination of employment of any E-Z-EM Employee or AngioDynamics
           Employee, as the case may be, shall be as determined by the party
           employing such person and stated in the notice of termination as
           required by Section 4.8 hereof.

5    BENEFIT PLANS

     5.1   Benefit Matters Generally.

           5.1.1  Subject to the other terms and conditions of this Section 5
                  (including without limitation the termination provisions of
                  Section 5.10), after the Offering, E-Z-EM shall maintain and
                  administer the existing E-Z-EM Plans through the earlier of
                  (i) the Payment Date and (ii) the next anniversary date of the
                  applicable E-Z-EM Plan.

           5.1.2  E-Z-EM and AngioDynamics acknowledge and agree that
                  AngioDynamics has previously established its own medical,
                  dental and short-term disability Plans separate and apart from
                  any Employee Welfare Plans of E-Z-EM, and that AngioDynamics
                  is solely responsible for the funding, administration and all
                  other matters related thereto (which shall be unaffected by
                  this Agreement). Additionally, each party is responsible for
                  the funding of E-Z-EM Plans for its own Employees prior to the
                  termination of E-Z-EM's obligations to maintain such

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<PAGE>

                  E-Z-EM Plans under this Section 5. AngioDynamics hereby agrees
                  to use all reasonable commercial efforts to establish, prior
                  to the Payment Date, AngioDynamics' Employee Welfare Plans and
                  business insurance policies separate and apart from any
                  applicable E-Z-EM "master policy" and other E-Z-EM Plans;
                  provided, however, that AngioDynamics shall obtain its own
                  directors and officers insurance prior to the completion of
                  the Offering and E-Z-EM's obligations with respect thereto
                  shall terminate upon the completion of the Offering.
                  Furthermore, and regardless of when the Payment Date occurs
                  (if at all), after the termination of E-Z-EM's obligations to
                  maintain a particular E-Z-EM Plan, each party shall fund and
                  maintain its own separate corresponding Plan. Accordingly, any
                  Claims or Proceedings by or on behalf of Employees or any
                  federal, state or local government agency for alleged
                  underfunding of, or failure to make payments to, health and
                  welfare funds based on acts or omissions will be the sole
                  responsibility of each party as to its own Employees and the
                  responsible party will indemnify, defend, and hold harmless
                  the other from any such Claims.

           5.1.3  Effective immediately prior to the termination of E-Z-EM's
                  obligations under this Section 5 with respect to a particular
                  Plan, AngioDynamics hereby assumes (i) the complete
                  responsibility for providing coverage under Employee Welfare
                  Plans to the AngioDynamics Employees and administering such
                  Employee Welfare Plans, and (ii) the associated liabilities
                  and accrued obligations of and relating to all AngioDynamics
                  Employees (and their eligible dependents and beneficiaries
                  under the terms of the aforementioned Plans) who participate
                  in the AngioDynamics Employee Welfare Plans. Nothing contained
                  in the preceding sentence limits the obligations of
                  AngioDynamics to make the contributions and other payments to
                  E-Z-EM required under the balance of this Section 5.

           5.1.4  Refunds. In the event that subsequent to the date on which
                  AngioDynamics is covered under its own Employee Welfare Plans
                  (the "AngioDynamics Plan Commencement Date"), refunds are
                  received from, or additional premium adjustments become
                  payable to, carriers providing health or medical insurance
                  where such amounts are the result of actual experience
                  differing from that used to compute premiums for any periods
                  prior to the AngioDynamics Plan Commencement Date, such
                  refunds or obligations will be shared between E-Z-EM and
                  AngioDynamics based on the relative percentages of
                  AngioDynamics employees and E-Z-EM employees to the total of
                  all such employees based on the average number of employees
                  during the period to which the refund or obligation relates.

           5.1.5  Service Credits. If Service Credits for all or any
                  AngioDynamics Employees are reflected in, or determined by
                  reference to, the E-Z-EM payroll system records, then for
                  purposes of determining Service Credits under any Plans,
                  AngioDynamics shall credit each AngioDynamics Employee with
                  such Employee's Service Credits and original hire date as may
                  be reflected in the E-Z-EM payroll system records as of the
                  Payment Date. Such Service Credits and hire date shall
                  continue to be maintained as described herein for as long as
                  the Employee is not terminated. Subject to the provisions of
                  ERISA, AngioDynamics may, in its sole discretion, make such
                  decisions as it deems appropriate with respect to determining
                  Service Credits for AngioDynamics Employees whose employment
                  with AngioDynamics is terminated following the Payment Date
                  but who are subsequently re-employed by AngioDynamics.

           5.1.6  Preservation Of Right To Amend Or Terminate Plans. Except as
                  otherwise expressly provided herein, no provision of this
                  Agreement, including, without limitation, the agreement of
                  E-Z-EM or AngioDynamics to make a contribution or payment to
                  or under any Plan for any period, shall be construed as a
                  limitation on the right of E-Z-EM or AngioDynamics to amend
                  such Plan or terminate its participation therein. No provision
                  of this Agreement shall be construed to create any additional
                  rights in any Employee, or dependent or beneficiary of such
                  Employee, under a Plan. AngioDynamics may request changes in
                  the applicable terms

                                       13

<PAGE>

                  of the E-Z-EM Plans; however, the approval of changes in the
                  terms of any of the E-Z-EM Plans shall be in the sole
                  discretion of E-Z-EM, and may be withheld for any or no
                  reason.

     5.2   Benefit Services.

           5.2.1  For so long as E-Z-EM is required to maintain the E-Z-EM Plans
                  under Section 5.1.1, E-Z-EM agrees to provide the same
                  Benefits Services (as defined in Section 5.2.2) to and in
                  respect of the officers, directors and employees and agents of
                  AngioDynamics under the Welfare Benefit Plans that were
                  provided prior to the date hereof.

           5.2.2  The parties acknowledge that the costs, if any, payable by
                  AngioDynamics for Intercompany Services relating to
                  administering the life insurance policy, travel life insurance
                  policy, long-term disability policy and workers compensation
                  policy under E-Z-EM's "master policy" (such subset of
                  Intercompany Services are collectively referred to as the
                  "Benefits Services") are covered in Section 8.1 and Exhibit C
                  as accounting administration services. The parties agree that
                  all fees payable to insurers for such policies shall continue
                  to be invoiced directly from the relevant insurer(s) to
                  AngioDynamics as is the practice on the date hereof, and that
                  any deductions from payroll to pay for such policies shall be
                  administered by AngioDynamics.

           5.2.3  E-Z-EM and AngioDynamics agree to cooperate fully with each
                  other in the administration and coordination of regulatory and
                  administrative requirements associated with the E-Z-EM Plans
                  and any successor Plans adopted by AngioDynamics. Such
                  coordination, upon request, will include (but is not limited
                  to) the following: sharing payroll data for determination of
                  highly compensated associates, providing census information
                  (including accrued benefits) for purposes of running
                  discrimination tests, providing actuarial reports for purposes
                  of determining the funded status of any plan, review and
                  coordination of insurance and other independent third party
                  contracts, and providing for review of all summary plan
                  descriptions, requests for determination letters, insurance
                  contracts, Forms 5500, financial statement disclosure and plan
                  documents.

     5.3   Invoicing and Settlement of Funding and Related Costs.

           5.3.1  After the date the Offering is completed, E-Z-EM will invoice
                  or notify AngioDynamics on a monthly basis of the out of
                  pocket costs, fees, funding contributions and policy premiums
                  incurred in connection with maintaining and funding, as
                  applicable, the E-Z-EM Plans (other than those paid directly
                  by AngioDynamics, as set forth in the first sentence of
                  Section 5.2.2). Such notice shall be consistent with the
                  notices used in connection with costs incurred on behalf of
                  AngioDynamics or other E-Z-EM Subsidiaries on the date hereof
                  (except as otherwise agreed), which reflect the
                  "cross-charges" among E-Z-EM and its Subsidiaries. In
                  connection with the invoicing and notices described in this
                  Section 5.3.1, E-Z-EM will provide to AngioDynamics a
                  reasonable level of billing data and detail. Within 30 days of
                  receipt of any such invoice from E-Z-EM (each, a "Plan Payment
                  Date"), AngioDynamics shall pay E-Z-EM the respective amount
                  set forth therein.

           5.3.2  Except as otherwise agreed by the parties, AngioDynamics shall
                  take such action as is necessary to fund all medical,
                  retirement and other benefit claims payable to or on behalf of
                  AngioDynamics personnel and their dependents to the extent not
                  covered by third party insurance. Benefit claims processing
                  activities performed by E-Z-EM or its subcontractors shall be
                  coordinated to facilitate payments. Following prior written
                  notice of not less than 15 business days, E-Z-EM shall be
                  relieved of any obligation to deliver Benefit Services under
                  this Section 5 at any time when AngioDynamics fails to fund
                  the payment of a properly presented claim, unless
                  AngioDynamics should deliver the required funds within such 15
                  day period.

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<PAGE>

     5.4   401(k) Retirement Plan. On or prior to the Payment Date,
           AngioDynamics shall cause all (if any) references to E-Z-EM to be
           removed from AngioDynamics' 401(k) Plan and shall cause the 401(k)
           Plans to be completely independent. Without limiting the foregoing
           sentence, AngioDynamics shall take such actions as are reasonably
           necessary to exclude E-Z-EM (because of a deemed "control group" or
           otherwise) from the testing or analysis of AngioDynamics' 401(k)
           Plan.

     5.5   Delegation. AngioDynamics hereby delegates to E-Z-EM final, binding
           and exclusive authority, responsibility, and discretion to interpret
           and construe the provisions of any E-Z-EM-administered Employee
           Welfare Plan in which AngioDynamics is participating under this
           Agreement (being those set forth in the first sentence of Section
           5.2.2). E-Z-EM may further delegate such authority to plan
           administrators to:

           5.5.1  provide administrative and other services;
           5.5.2  reach factually supported conclusions consistent with the
                  terms of the Employee Welfare Plans;
           5.5.3  make a full and fair review of each claim denial and decision
                  related to the provision of benefits provided or arranged for
                  under the Employee Welfare Plans, pursuant to the requirements
                  of ERISA, if within sixty days after the receipt of the notice
                  of denial, a claimant requests in writing a review for
                  reconsideration of such decisions. Any such administrator
                  shall notify the claimant in writing of its decision on
                  review, and such notice shall satisfy all ERISA requirements
                  relating thereto; and
           5.5.4  notify the claimant in writing of its decision to review.

     5.6   Limitation of Liability. AngioDynamics agrees that none of E-Z-EM or
           any E-Z-EM Indemnified Person shall have any liability, whether
           direct or indirect, in contract or tort or otherwise, to
           AngioDynamics for or in connection with the payment of the
           out-of-pocket costs, fees, funding contributions and policy premiums
           required hereunder, except for damages which have resulted from the
           gross negligence or willful misconduct of E-Z-EM or such Indemnified
           Person in connection with any such actions or inactions.

     5.7   Reports. E-Z-EM shall provide or shall cause to be provided to
           AngioDynamics data or reports requested by AngioDynamics relating to
           (i) benefits paid to or on behalf of AngioDynamics personnel under
           the E-Z-EM Plans, including but not limited to financial statements,
           claims history, and census information, and (ii) other information
           relating to the E-Z-EM Plans that is required to satisfy any
           reporting or disclosure requirements of ERISA or the Code. E-Z-EM
           will provide such information within a reasonable period of time
           after it is requested. The costs for reports which are prepared by
           E-Z-EM or on behalf of E-Z-EM generally for its business shall be
           billed as part of the amounts payable under this Section 5.

     5.8   Notice. Unless otherwise agreed in writing by the parties,
           AngioDynamics agrees to provide E-Z-EM with at least one month prior
           written notice of any material change in the eligible AngioDynamics
           personnel covered by the E-Z-EM Plans. Notwithstanding the preceding
           sentence, if AngioDynamics provides E-Z-EM with less than one month
           notice of any such change and E-Z-EM is nonetheless able, with
           reasonable efforts, to effectuate such change with such shorter
           notice, then E-Z-EM shall implement the requested change.

     5.9   Self Insured Retention; Increased Insurance Rates. AngioDynamics
           acknowledges that E-Z-EM's business insurance is subject to a
           "self-insured retention" of $500,000 per claim. In connection with a
           third party claim against E-Z-EM based upon the business activities
           and operations of AngioDynamics, AngioDynamics will indemnify and
           hold E-Z-EM harmless with respect to any out-of-pocket payments made
           up to the limit of E-Z-EM's self-insured retention (i.e., repayment
           in full for all amounts paid by E-Z-EM before payments are received
           from a provider under an E-Z-EM Plan). Additionally, if the insurance
           premium charged by the applicable provider to E-Z-EM increases as a

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<PAGE>

           result of the payments by such provider relating to the business and
           operations of AngioDynamics, then (i) the parties shall negotiate in
           good faith the allocation of the increase in the insurance premium
           resulting from the claim based on AngioDynamics' business and
           operations, and shall all commercially reasonable efforts obtain from
           the provider of coverage under such E-Z-EM Plan the hypothetical
           insurance premium had there been no such claim based on
           AngioDynamics' business and operations, and (ii) AngioDynamics shall
           pay E-Z-EM an amount equal to five (5) times the increase in the
           insurance premiums resulting from the claim based upon AngioDynamics'
           business and operations described in clause (i). The parties
           acknowledge that the amount paid in clause (ii) is a reasonable
           estimate of the effect of the increase in aggregate premiums over
           time, and is not a penalty. This provision shall survive this
           Agreement. E-Z-EM shall use commercially reasonable efforts to
           mitigate any damages, including without limitation out-of-pocket
           expenses, to be indemnified by AngioDynamics pursuant to this Section
           5.9. Such efforts include seeking comparable insurance from other
           providers at rates and on other terms more favorable than the
           proposed rates and terms of the then-current insurance provider (as
           modified after the AngioDynamics-related claim).

     5.10  Term and Termination.

           5.10.1 The obligations of the parties under this Section 5 may be
                  terminated by AngioDynamics upon giving E-Z-EM at least 60
                  days prior written notice. E-Z-EM shall deliver to
                  AngioDynamics upon receipt of same (or as soon thereafter as
                  practicable) any refunds or rebates received allocable to the
                  AngioDynamics Employees for periods in which AngioDynamics
                  participated in a Plan, in connection with the reduction in
                  coverage under the E-Z-EM Plans.

           5.10.2 Subject to Section 5.3.2, E-Z-EM may terminate AngioDynamics
                  participation in an E-Z-EM Plan at any time if (i)
                  AngioDynamics shall have failed to perform any of its material
                  obligations under this Agreement relating to such E-Z-EM Plan,
                  (ii) E-Z-EM has notified AngioDynamics in writing of such
                  failure, and (iii) such failure shall have continued for a
                  period of 30 days after receipt of AngioDynamics of notice of
                  such failure. E-Z-EM agrees that after a failure by
                  AngioDynamics to perform its obligations under this Section 5
                  and prior to exercising its termination rights under this
                  Section 5, E-Z-EM will consult for a reasonable period with
                  AngioDynamics in advance of such termination as to its
                  implementation.

           5.10.3 Effect of Termination. Other than as required by law, upon
                  termination of the agreements under this Section 5 in
                  accordance with its terms or the unilateral termination
                  thereof by a party hereto, E-Z-EM will have no further
                  obligation to include AngioDynamics or any of its personnel
                  under the E-Z-EM Plans and AngioDynamics will have no
                  obligation to pay any fees relating the E-Z-EM Plans or make
                  any other payments hereunder; provided that notwithstanding
                  such termination, but subject to the second sentence of
                  Section 5.10.1, AngioDynamics shall remain liable to E-Z-EM
                  for (i) out of pocket costs, fees, funding contributions and
                  policy premiums incurred prior to the effective date of the
                  termination, and (ii) administrative and program costs
                  relating to benefits paid after but incurred prior to the
                  termination of the obligations under this Section 5.

                                       16

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6    INDEMNIFICATION

     6.1   Indemnification by AngioDynamics. AngioDynamics shall indemnify and
           hold harmless E-Z-EM and its officers, directors, stockholders,
           employees or other representatives (for each party, each such Person
           is sometimes referred to as an "Indemnified Person") from and against
           any losses, claims, damages or liabilities, joint and/or several (or
           actions in respect thereof) (collectively, "Claims"), to which E-Z-EM
           or such Indemnified Person may become subject arising out of or due
           to any of the following:

           6.1.1  the failure of AngioDynamics to pay, perform or discharge in
                  due course the liabilities, if any, assumed by AngioDynamics
                  in connection with the Distribution or the separation from
                  E-Z-EM;

           6.1.2  the failure of AngioDynamics to comply with the terms of this
                  Agreement or any of the Ancillary Agreements,

           6.1.3  without limiting Section 6.1.2 above, the tax ramifications
                  set forth in (i) through (iv) below (collectively, the
                  "Adverse Tax Results"), if suffered by E-Z-EM and its
                  stockholders, resulting primarily from action or inaction by
                  AngioDynamics, its transfer agent(s) or any other agent or
                  representative of AngioDynamics, to the extent E-Z-EM or its
                  stockholders are adversely affected: (i) a gain being
                  recognized (or an amount being included in the income of) the
                  stockholders of E-Z-EM upon the receipt of AngioDynamics
                  Common Stock in the Distribution; (ii) a gain or loss being
                  recognized to E-Z-EM upon the completion of the Distribution;
                  (iii) the failure of the basis of the AngioDynamics Common
                  Stock and the E-Z-EM Common Stock in the hands of the
                  stockholders of E-Z-EM after the Distribution to be, in each
                  instance, the same as the aggregate basis of the E-Z-EM
                  stockholders in the E-Z-EM Common Stock immediately before the
                  Distribution (allocated in proportion to the fair market value
                  of each), and/or (iv) the failure of the holding period of the
                  AngioDynamics Common Stock received by the stockholders of
                  E-Z-EM as a result of the Distribution to include the holding
                  period of the E-Z-EM Common Stock with respect to which the
                  AngioDynamics Common Stock was received, provided that such
                  E-Z-EM Common Stock is held as a capital asset on the date of
                  the Distribution. Bases for AngioDynamics becoming obligated
                  to indemnify and hold harmless the applicable Indemnified
                  Persons include, without limitation, if (within the prescribed
                  period under the Code) (y) a sufficient number of shares of
                  AngioDynamics Common Stock is held by new stockholders such
                  that there is a change in ownership of 50% or greater in
                  either the voting power or value of AngioDynamics Common Stock
                  (which may include changes in ownership occurring as a result
                  of the Offering) under the Code, or (y) E-Z-EM's share
                  ownership in AngioDynamics decreases below 80.0% and such
                  decrease results in one of the Adverse Tax Results. E-Z-EM
                  acknowledges that changes in the ownership of E-Z-EM Common
                  Stock that cause such Adverse Tax Results shall not be events
                  for which AngioDynamics shall be required to indemnify E-Z-EM
                  or any Person deriving rights through E-Z-EM;

           6.1.4  any investigating, preparing, pursuing or defending any
                  Proceeding (as defined in Section 6.4) or investigation
                  arising out of or in connection with the funding and other
                  payment obligations of AngioDynamics under Section 5; provided
                  that AngioDynamics will not be responsible for any damages of
                  E-Z-EM or any E-Z-EM Indemnified Person that have resulted
                  from his or its gross negligence or willful misconduct in
                  connection therewith;

           6.1.5  any pre-Offering Credit Support Arrangements;

           6.1.6  the business operations of AngioDynamics prior to the
                  Distribution in which E-Z-EM is a defendant solely because
                  E-Z-EM was the sole stockholder of AngioDynamics;

                                       17

<PAGE>

           6.1.7  without duplication of Section 6.1.4, any Claims for which
                  AngioDynamics is responsible under Section 7.3;

           6.1.8  Claims with respect to Intercompany Services provided under
                  Section 8.1, to the extent that such Claims result from or are
                  attributable to the gross negligence or willful misconduct of
                  AngioDynamics;

           6.1.9  Claims under Sections 3.4 and 5.9, in each case to the extent
                  set forth therein;

           6.1.10 Claims based on any untrue statement of a material fact or
                  material omission (i) in the IPO Registration Statement or any
                  similar document relating to the Offering, other than
                  information provided by (or not provided, as applicable) and
                  relating to E-Z-EM, or (ii) in any document related to the
                  Distribution, to the extent such information is provided (or
                  not provided, as applicable) by AngioDynamics with respect to
                  its own business and operations; and

           6.1.11 any taxes, interest, fines, or penalties assessed by any
                  Governmental Authority against E-Z-EM, plus any fees and
                  expenses incurred by E-Z-EM in connection with any such
                  assessment, as a result of AngioDynamic's failure to discharge
                  its obligations under Section 4.7.

     6.2   Indemnification by E-Z-EM. E-Z-EM shall indemnify and hold harmless
           AngioDynamics and its "Indemnified Persons" from and against any and
           all Claims suffered by AngioDynamics or such Indemnified Person
           arising out of or due to any of the following:

           6.2.1  E-Z-EM's failure to pay, perform or discharge in due course
                  E-Z-EM's liabilities that are not assumed by AngioDynamics in
                  connection with the Distribution or the separation from
                  AngioDynamics;

           6.2.2  any investigating, preparing, pursuing or defending any Claim
                  or Proceeding arising out the gross negligence or willful
                  misconduct of E-Z-EM or any E-Z-EM Indemnified Person with
                  respect to its obligations under Section 5;

           6.2.3  the occurrence of any Adverse Tax Results (as defined in
                  Section 6.1.3 above) with respect to AngioDynamics or
                  AngioDynamics' stockholders as a result of the action or
                  inaction of E-Z-EM, including by way of example (i) transfers
                  of E-Z-EM Common Stock and (ii) plans or agreements to which
                  E-Z-EM is a party (other than the Distribution and plans and
                  agreements to which AngioDynamics is a party) for the
                  transfers of E-Z-EM Common Stock or AngioDynamics Common
                  Stock;

           6.2.4  any Claims for which E-Z-EM is responsible under Section 7.3;

           6.2.5  Claims with respect to Intercompany Services provided under
                  Section 8.1, to the extent that such Claims result from or are
                  attributable to the gross negligence or willful misconduct of
                  E-Z-EM;

           6.2.6  Claims based on any untrue statement of a material fact or
                  material omission (i) in the IPO Registration Statement or any
                  similar document relating to the Offering provided by (or not
                  provided, as applicable) and relating to E-Z-EM, or (ii) in
                  any document related to the Distribution, unless provided (or
                  not provided, as applicable) by AngioDynamics with respect to
                  its own business and operations; and

           6.2.7  E-Z-EM's failure to comply with the terms of this Agreement or
                  any of the other Ancillary Agreements; and

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<PAGE>

           6.2.8  any taxes, interest, fines, or penalties assessed by any
                  Governmental Authority against AngioDynamics, plus any fees
                  and expenses incurred by AngioDynamics in connection with any
                  such assessment, as a result of the discharge by AngioDynamics
                  of its obligations under Section 4.7.

     6.3   Limitations upon Indemnification Provisions in this Agreement.

           6.3.1  The indemnification obligations in Sections 6.1 and 6.2 are
                  subject to the more specific indemnification obligations set
                  forth in the Ancillary Agreements, including by way of example
                  only Article 4 of the Corporate Agreement. To the extent that
                  any indemnification obligation set forth herein is covered by
                  or inconsistent with more specific provisions of one of the
                  Ancillary Agreements, the indemnification obligations set
                  forth in such Ancillary Agreement shall govern and this
                  Agreement shall be interpreted so as to be consistent with the
                  applicable Ancillary Agreement.

           6.3.2  All indemnification amounts will be reduced by any insurance
                  proceeds and other offsetting amounts actually recovered by
                  the party entitled to indemnification.

     6.4   Procedure for Indemnification. Promptly after receipt by any
           Indemnified Person under Section 6.1 or Section 6.2 hereof of notice
           of the commencement of any action, claim or proceeding (each, a
           "Proceeding"), such Indemnified Person shall, if a Claim in respect
           thereof is sought against an AngioDynamics or E-Z-EM, respectively
           (for purposes of this Section 6.4, an "Indemnitor"), notify such
           Indemnitor in writing of the commencement thereof, but any omission
           or delay in notifying the Indemnitor shall not relieve it from any
           liability which it may have to any Indemnified Person except to the
           extent of any actual prejudice. In case any such action shall be
           brought against any Indemnified Person, it shall notify an Indemnitor
           of the commencement thereof, such Indemnitor shall be entitled to
           participate therein and, to the extent that it shall wish, jointly
           with any other Indemnitor similarly notified, to assume the defense
           thereof, with counsel reasonably satisfactory to such Indemnified
           Person, and, after notice from the Indemnitor to such Indemnified
           Person of its election so to assume the defense thereof, such
           Indemnitor shall not be liable to such Indemnified Person under this
           Section 6 for any legal expenses of other counsel or any other
           expenses, in each case subsequently incurred by such Indemnified
           Person, in connection with the defense thereof. No Indemnitor shall,
           without the prior written consent of the applicable Indemnified
           Person, effect the settlement or compromise of, or consent to the
           entry of any judgment with respect to, any pending or threatened
           Proceeding in respect of which indemnification may be sought
           hereunder (whether or not the Indemnified Person is an actual or
           potential party to such action or claim) unless such settlement,
           compromise or judgment (i) includes an unconditional release of the
           Indemnified Person from all Claims arising out of such Proceeding and
           (ii) does not include a statement as to, or an admission of, fault,
           culpability or a failure to act, by or on behalf of any Indemnified
           Person. Notwithstanding the foregoing, an Indemnified Person shall
           have the right to employ separate counsel reasonably acceptable to
           the Indemnitor in any such proceeding and to participate in (but not
           control, other than with respect to (3) below) the defense thereof,
           but the fees and expenses of such counsel shall be at the expense of
           such Indemnified Person unless (1) the Indemnitor has agreed to pay
           such fees and expenses; (2) the Indemnitor shall have failed after
           notice to assume the defense of such Proceeding; or (3) the named
           parties to any such Proceeding (including any impleaded parties)
           include both such Indemnified Person and the Indemnitor, and a
           conflict of interest may reasonably be expected to exist if such
           counsel represents such Indemnified Person and the Indemnitor. In the
           case of clause (3), the Indemnified Person shall have the right to
           control the Indemnified Person's defense and, for each of clauses
           (1)-(3), if such Indemnified Person notifies the Indemnitor in
           writing that it elects to employ separate counsel, the reasonable
           fees and expenses of such counsel shall be at the expense of the
           Indemnitor; provided, however, that the Indemnitor shall not, in
           connection with any one such Proceeding or separate but substantially
           similar or related Proceedings in the same jurisdiction, arising out
           of the same general allegations or circumstances, be liable for the
           reasonable fees and

                                       19

<PAGE>

           expenses of more than one separate firm of attorneys (together with
           appropriate local counsel) at any time for all such Indemnified
           Persons. An Indemnitor shall not be liable for any settlement of an
           action effected without its written consent.

7    EMPLOYMENT MATTERS

Notwithstanding any other provision of this Agreement or any Ancillary Agreement
to the contrary, E-Z-EM and AngioDynamics acknowledge and agree that:

     7.1   Separate Employers. After the Payment Date, E-Z-EM and AngioDynamics
           will be separate and independent employers for all purposes. Except
           as otherwise provided in this Agreement or in any Ancillary Agreement
           and without in any way limiting Sections 4.1 and 4.2, the preceding
           sentence shall not, of itself, constitute a severance or a
           termination of employment under any Plan (including severance
           agreements) maintained by E-Z-EM or AngioDynamics, and to the maximum
           extent permitted by applicable law, no severance, separation or
           termination shall be deemed to occur by reason of the Distribution.

     7.2   Employment Policies And Practices. Further to Section 5.1.6, E-Z-EM
           and AngioDynamics may adopt, continue, modify or terminate such
           employment policies, compensation practices, Employee Welfare Plans,
           and other plans or policies of any kind or description, as each may
           determine, in its sole discretion, are necessary and appropriate.

     7.3   Claims.

           7.3.1  This Section 7.3 is intended to allocate all liabilities for
                  employment-related claims involving E-Z-EM or AngioDynamics
                  including, but not limited to, claims against either or both
                  E-Z-EM and AngioDynamics and their respective officers,
                  directors, agents and employees, or against or by their
                  respective employee benefit plans and plan administrators and
                  fiduciaries, except to the extent covered under Section 5 of
                  this Agreement.

           7.3.2  An employment-related claim shall include any actual or
                  threatened lawsuit, arbitration, ERISA claim, or federal,
                  state or local judicial or administrative proceeding of
                  whatever kind involving a demand by or on behalf of or
                  relating to E-Z-EM Employees or AngioDynamics Employees, or by
                  or relating to any federal, state or local government agency
                  alleging liability against E-Z-EM or AngioDynamics, or (except
                  to the extent covered by Section 5 of this Agreement) against
                  any employee health, welfare, deferred compensation or other
                  benefit plan and/or their respective officers, directors,
                  agents, employees, administrators, trustees and fiduciaries.

           7.3.3  The duty of a party to indemnify, defend and hold harmless the
                  other party under this Section 7.3 shall include such duties,
                  and be subject to such procedures, as set forth in Section 6
                  of this Agreement, as modified in this Section 7.3.

           7.3.4  With respect to pre-Distribution claims:

                  7.3.4.1 E-Z-EM shall indemnify, defend and hold harmless
                  AngioDynamics from any employment-related claims of an E-Z-EM
                  Employee arising from acts occurring before the Payment Date.

                  7.3.4.2 AngioDynamics shall indemnify, defend and hold
                  harmless E-Z-EM from any employment-related claims of a
                  AngioDynamics Employee arising from acts before the Payment
                  Date.

                                       20

<PAGE>

           7.3.5  Where employment-related claims alleging or involving joint
                  and several liability asserted against E-Z-EM and
                  AngioDynamics are not separately traceable to liabilities
                  relating to E-Z-EM Employees or AngioDynamics Employees, any
                  liability shall be appointed between E-Z-EM and AngioDynamics
                  in accordance with the percentage that each party's Employees
                  represents of the combined total number of Employees of both
                  parties, as described below. The percentage of the liability
                  assumed by E-Z-EM shall equal the ratio of (i) the total
                  number of E-Z-EM Employees on the Distribution Date to (ii)
                  the combined total number of E-Z-EM Employees and
                  AngioDynamics Employees on such date. The percentage of the
                  liability assumed by AngioDynamics shall equal the ratio of
                  (i) the total number of AngioDynamics Employees on the
                  Distribution Date, to (ii) the combined total number of E-Z-EM
                  Employees and AngioDynamics Employees on such date. Each party
                  will indemnify, defend and hold harmless the other to the
                  extent of the indemnifying party's apportioned percentage
                  determined in accordance herewith.

           7.3.6  Employment related claims arising from acts occurring on and
                  after the Payment Date and not relating to, arising from, or
                  in connection with the Distribution will be the sole
                  responsibility of E-Z-EM as to E-Z-EM Employees and of
                  AngioDynamics as to AngioDynamics Employees and each will
                  indemnify, defend, and hold harmless the other from
                  employment-related claims of the other company.

8    SERVICES AGREEMENT

     8.1   Intercompany Services and Intercompany Charges. Legal, professional,
           administrative, clerical, consulting and/or support services (the
           "Intercompany Services") provided to one party by personnel of the
           other party, upon the request of the first party or when such
           services are otherwise required by this Agreement, shall be charged
           to the party receiving such services on terms that reflect arm's
           length negotiation (the "Intercompany Charges").

           8.1.1  The parties acknowledge and agree that the Intercompany
                  Services and the Intercompany Charges are expected to be those
                  set forth on Exhibit C, but that Exhibit C is neither binding
                  (except where the Intercompany Charges are set forth as a
                  fixed percentage) nor reflective of additional services (or
                  their cost) that may be provided as mutually agreed by the
                  persons named or described therein.

           8.1.2  With respect to the amounts on Exhibit C relating to payments
                  to Howard Stern, AngioDynamics hereby assumes E-Z-EM's payment
                  obligations under E-Z-EM's agreement with Howard Stern dated
                  as of January 1, 2002, to the extent set forth on Exhibit C,
                  and only from the date hereof through December 2004, as
                  indicated in the right-most column of Exhibit C.

     8.2   Payment. E-Z-EM and AngioDynamics agree to pay the amount invoiced by
           the other (absent manifest error) for the Intercompany Services
           within ten (10) days of the end of the month in which the respective
           Intercompany Services are provided. With respect to those
           Intercompany Costs that are ascertainable in advance or remain
           relatively constant, such as contributions for the respective
           salaries and benefits set forth on Exhibit C, the parties agree to
           negotiate in good faith a more frequent payment schedule if requested
           by the party who employs or has engaged the personnel providing such
           Intercompany Services.

     8.3   Termination. The obligation to perform the Intercompany Services
           shall terminate on December 31, 2004; provided that (i) in the case
           of a payment default, the party providing the applicable Intercompany
           Services may terminate providing same upon 15 days prior written
           notice (unless such payment default is cured within such 15-day
           period) and (ii) nothing set forth in this Section 8 shall require
           either party use or pay for Intercompany Services from the other. The
           payment obligations

                                       21

<PAGE>

           under Section 8.2 and the applicable indemnification obligations
           under Section 6 shall survive any termination of the obligations
           under this Section 8.

     8.4   Return of Property. Upon the termination of the parties' obligations
           under this Section 8, each party shall return to the other any and
           all items of the other's property, if any, utilized in performing the
           services contemplated above.

     8.5   Limitation on Applicability. This Section 8 shall not apply to (i)
           manufacturing or production services provided by AngioDynamics to
           E-Z-EM, which shall be governed by Section 3.4 of this Agreement,
           (ii) Benefit Services (which shall be governed by Section 5), (iii)
           tax allocations and any related services covered in the Tax
           Agreement, and (iv) any other services specifically covered in
           another provision of this Agreement or an Ancillary Agreement.

9    MISCELLANEOUS

     9.1   Entire Agreement. This Agreement, the Ancillary Agreements and the
           Exhibits and Schedules referenced or attached hereto and thereto,
           constitute the entire agreement between the parties with respect to
           the subject matter hereof and thereof and shall supersede all prior
           written and oral and all contemporaneous oral agreements and
           understandings, negotiations, discussions, writings, commitments and
           conversations with respect to the subject matter hereof and thereof,
           and there are no agreements or understandings between the parties
           other than those set forth or referred to herein or therein.

     9.2   Governing Law; Consent to Jurisdiction. This Agreement shall be
           governed by and construed in accordance with the laws of the State of
           New York (without giving effect to any conflict of laws principles).
           The parties hereto unconditionally and irrevocably agree and consent
           to the exclusive jurisdiction of the United States District Court and
           the courts of the State of New York located in the County of New
           York, State of New York, and waive any objection with respect
           thereto, for the purpose of any action, suit or proceeding arising
           out of or relating to this Agreement or the transactions contemplated
           hereby and further agree not to commence any such action, suit or
           proceeding except in any such court. Each party irrevocably waives
           any objections or immunities to jurisdiction to which it may
           otherwise be entitled or become entitled (including sovereign
           immunity, immunity to pre-judgment attachment, post-judgment
           attachment and execution) in any legal suit, action or proceeding
           against it arising out of or relating to this Agreement or the
           transactions contemplated hereby which is instituted in any such
           court.

     9.3   Termination. Notwithstanding the specific termination provisions in
           any Section hereof, this Agreement and all Ancillary Agreements may
           be terminated at any time prior to the sale of shares of
           AngioDynamics Common Stock to the underwriters in the Offering by and
           in the sole discretion of E-Z-EM without the approval of either
           AngioDynamics or the stockholders of E-Z-EM. Thereafter, this
           Agreement may only be terminated in a written agreement executed by
           AngioDynamics and E-Z-EM, although portions of this Agreement may be
           terminated unilaterally as specifically provided in such sections. In
           the event of termination pursuant to this Section 9.3, no party shall
           have any liability of any kind to the other party or any other
           Person, except to the extent agreed herein, in the Ancillary
           Agreements or otherwise by the parties.

     9.4   Notices. All notices and other communications required or permitted
           to be given by either party pursuant to the terms of this Agreement
           shall be in writing to and shall be deemed to have been duly given
           when delivered in person, by express or overnight mail delivery by a
           nationally recognized courier (delivery charges prepaid), or by
           registered or certified mail (postage prepaid, return receipt
           requested), as follows:

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<PAGE>

           if to E-Z-EM:

                1111 Marcus Avenue, Suite LL-26
                Lake Success, NY 11042
                Attention: General Counsel

           if to AngioDynamics:

                603 Queensbury Avenue
                Queensbury, New York 12804
                Attention: Chief Executive Officer

           or to such other address as the party to whom notice is given may
           have previously furnished to the other in writing in the manner set
           forth above. All notices and other communication shall be deemed to
           have been given and received on the date of actual delivery.

     9.5   Counterparts. This Agreement and each Ancillary Agreement, may be
           executed in counterparts, each of which shall be deemed to be an
           original but all of which shall constitute one and the same
           agreement, and shall become effective when one or more counterparts
           have been signed by each of the parties and delivered to the other
           party.

     9.6   Binding Effect; Assignment; Third-Party Beneficiaries. AngioDynamics
           may not, directly or indirectly, in whole or in part, whether by
           operation of Law or otherwise, assign or transfer this Agreement or
           its rights hereunder, without E-Z-EM's prior written consent and,
           except as otherwise permitted hereby, any attempted assignment,
           transfer or delegation without such prior written consent shall be
           voidable at the sole option of E-Z-EM. Nothing in this Agreement
           shall restrict any transfer of this Agreement by E-Z-EM, whether by
           operation of Law or otherwise, in connection with a transfer of
           AngioDynamics Common Stock in a non-public transaction; otherwise,
           the prior written consent of AngioDynamics shall be required. Without
           limiting the foregoing, this Agreement shall be binding upon and
           inure to the benefit of the parties hereto and their permitted
           successors and assigns. Except for Indemnified Persons (who are
           intended third party beneficiaries of this Agreement, but solely to
           the extent set forth in Section 6) and as otherwise expressly
           provided herein, this Agreement shall be binding upon and inure
           solely to the benefit of each party hereto and its legal
           representatives and successors and assigns and nothing in this
           Agreement, express or implied, is intended to confer upon any other
           Person any rights or remedies of any nature whatsoever under or by
           reason of this Agreement.

     9.7   Severability. If any term or other provision of this Agreement is
           determined by a court or administrative agency of competent
           jurisdiction or arbitrator in any binding arbitration, to be invalid,
           illegal or incapable of being enforced by any rule of Law or public
           policy, all other conditions and provisions of this Agreement will
           nevertheless remain in full force and effect so long as the economic
           or legal substance of the transactions contemplated hereby is not
           affected in any manner materially adverse to any party hereto. Upon
           such determination that any term or other provision is invalid,
           illegal or incapable of being enforced, the parties hereto shall
           negotiate in good faith to modify this Agreement so as to effect the
           original intent of the parties hereto as closely as possible in an
           acceptable manner to the end that transactions contemplated hereby
           are fulfilled to the fullest extent possible.

     9.8   Failure or Indulgence Not Waiver; Remedies Cumulative. No failure or
           delay on the part of either party hereto in the exercise of any right
           hereunder shall impair such right or be construed to be a waiver of,
           or acquiescence in, any breach of any representation, warranty or
           agreement herein, nor shall any single or partial exercise of any
           such right preclude other or further exercise thereof or of any other
           right. All rights and remedies existing under this Agreement or the
           Exhibits attached hereto

                                       23

<PAGE>

           (and under the Ancillary Agreements and the Schedules and Exhibits
           thereto) are cumulative to, and not exclusive of, any rights or
           remedies otherwise available.

     9.9   Amendment. This Agreement may not be amended by any custom of trade,
           course of dealing or otherwise, except by an instrument in writing
           signed on behalf of each of the parties to such agreement.

     9.10  Authority. Each of the parties hereto represents to the other that
           (a) it has the requisite corporate power and authority to execute,
           deliver and perform this Agreement and each Ancillary Agreement, (b)
           the execution, delivery and performance by it of this Agreement and
           each Ancillary Agreement have been duly authorized by all necessary
           corporate or other actions, (c) it has duly and validly executed and
           delivered this Agreement and each Ancillary Agreement, and (d) this
           Agreement and each Ancillary Agreement is a legal, valid and binding
           obligation, enforceable against it in accordance with its terms
           subject to applicable bankruptcy, insolvency, reorganization,
           moratorium or other similar Laws affecting creditors' rights
           generally and general equity principles.

     9.11  Conflicting Agreements. In the event of conflict between this
           Agreement and any Ancillary Agreement or other agreement executed in
           connection herewith, the provisions of this Agreement shall prevail.
           However, to the extent that any Ancillary Agreement addresses an
           issue more specifically than such issue is addressed herein, the
           terms of such Ancillary Agreement shall prevail to the extent they
           are not in conflict with this Agreement.

     9.12  Specific Performance and Other Equitable Rights. Each of the parties
           hereto recognizes and acknowledges that a breach by a party or by any
           assignee thereof of any covenants or other commitments contained in
           this Agreement will cause the other party to sustain injury for which
           it would not have an adequate remedy at law for money damages.
           Therefore, each of the parties hereto agrees that in the event of any
           such breach, the aggrieved party shall be entitled to the remedy of
           injunctive and other equitable relief in addition to any other remedy
           to which it may be entitled, at law or in equity, and the parties
           hereto further agree to waive any requirement for the securing or
           posting of any bond in connection with the obtaining of any such
           injunctive or other equitable relief.

     9.13  Attorney-Client Privilege. The provisions herein requiring either
           party to this Agreement to cooperate shall not be deemed to be a
           waiver of the attorney/client privilege for either party or shall it
           require either party to waive its attorney/client privilege.

     9.14  Independent Status. The relationship of AngioDynamics and E-Z-EM
           hereunder with respect to manufacturing (Section 3.4), distribution
           (Section 3.5) and other services hereunder (including without
           limitation Section 8) shall be that of independent contractors.
           Nothing in this Agreement with respect to services is intended to, or
           shall be construed to constitute E-Z-EM or any of E-Z-EM's employees,
           salepersons or agents, an agent, employee or partner of AngioDynamics
           (and vice-versa), except to the extent an agent for purposes of sales
           and marketing purposes.

10   DEFINITIONS

     10.1  Interpretation. The headings contained in this Agreement, in any
           Exhibit or Schedule hereto and in the table of contents to this
           Agreement are for reference purposes only and shall not affect in any
           way the meaning or interpretation of this Agreement. Any capitalized
           term used in any Schedule or Exhibit but not otherwise defined
           therein shall have the meaning assigned to such term in this
           Agreement. When a reference is made in this Agreement to a Section,
           Exhibit or Schedule, such reference shall be to a Section of, or an
           Exhibit or Schedule to, this Agreement unless otherwise indicated.
           Any reference in this Agreement to another agreement or instrument
           shall be deemed to include such agreement or instrument as it may be
           amended, modified, restated and/or supplemented from time to time.
           References in this Agreement to any legislation (including for
           purposes of (i) below rules and regulations) shall be deemed to
           include, unless the context indicates to the contrary,

                                       24

<PAGE>

           (i) any amendments or supplemental or substitute legislation from
           time to time, and (ii) any "rules or regulations" promulgated under
           such legislation. References to the plural shall also be deemed to be
           a reference to the singular, and vice-versa, as the context may
           dictate.

     10.2  As used herein, the following terms have the respective definitions
           set forth below:

           "401(k) Retirement Plan" means a defined contribution plan maintained
           pursuant to Section 401(k) or 401(a) of the Code for Employees and
           their beneficiaries.

           "Acquiror" has the meaning set forth in Section 3.9.3.

           "Adjusted E-Z-EM Option" means an Existing E-Z-EM Option adjusted in
           the manner set forth in Section 4.

           "Affiliate" or "Affiliates" as applied to any Person, means any other
           Person directly or indirectly controlling, controlled by, or under
           common control with that Person. For the purposes of this definition,
           "control" (including with correlative meanings, the terms
           "controlling," "controlled by" and "under common control with"), as
           applied to any Person, means the possession, directly or indirectly,
           of the power to direct or cause the direction of the management and
           policies of that Person, whether through the ownership of voting
           securities, by contract or otherwise.

           "Ancillary Agreements" has the meaning set forth in Section 1.2
           hereof.

           "AngioDynamics Adjustment Plans" means, collectively, any (i)
           non-plan grants and/or (ii) stock option plans (which shall be deemed
           to include "mirror plans" and AngioDynamics 2004 Stock and Incentive
           Award Plan) to be adopted by AngioDynamics in furtherance of Section
           4.3 hereof, to enable AngioDynamics to grant options to purchase
           AngioDynamics Common Stock to the holders of Existing E-Z-EM Options
           granted under the E-Z-EM Option Plans. For greater certainty, each
           AngioDynamics Adjustment Plan will "mirror" the material provisions
           of the corresponding E-Z-EM Option Plan or related Existing E-Z-EM
           Option, except that each AngioDynamics Adjustment Plan will provide
           that: (i) the Distribution will not be deemed a "termination" of the
           employment of any E-Z-EM Employee for the purposes of the Plan, (ii)
           following the Distribution, termination of employment of any E-Z-EM
           Employee for the purposes of the Plan will be determined by reference
           to employment by E-Z-EM or any of its subsidiaries, and (iii) the
           expiration date of such option shall be modified as set forth in
           Section 4.6 hereof.

           "AngioDynamics Business" means the business of AngioDynamics as
           conducted consistent with practices in place prior to the
           Distribution Date and as expected to be conducted in the future (as
           described in the IPO Registration Statement).

           "AngioDynamics Option" means an option to acquire AngioDynamics
           Common Stock granted under any currently existing Plans of
           AngioDynamics, the AngioDynamics Adjustment Plans or any non-plan
           grant.

           "AngioDynamics Plan Commencement Date" has the meaning set forth in
           Section 5.1.4.

           "Benefits Services" has the meaning ascribed thereto in Section
           5.2.2.

           "Business Day" means a day other than a Saturday, a Sunday or a day
           on which banking institutions located in the State of New York are
           authorized or obligated by Law or executive order to close.

           "Code" has the meaning set forth in the Recitals hereof.

           "Commission" has the meaning set forth in the Recitals hereof.

                                       25

<PAGE>

           "Confidential Information" shall mean:

           (a) all information concerning a party and its business constituting
           a trade secret, except for such information as is described below,
           whether or not reduced to writing, marked as confidential, patentable
           or protectible by copyright, patent or trademark, that the other
           Party receives or receives access to, directly or indirectly,
           including, without limitation:

               (i)   financial information relating to a Party;
               (ii)  application, operating system, data base, communication and
           other computer software, whether now or hereafter existing, all
           modifications, enhancements and versions and all options available
           with respect thereto, and all future products developed or derived
           therefrom;
               (iii) source and object codes, flowcharts, algorithms, coding
           sheets, routines, sub-routines, compilers, assemblers, design
           concepts and related documentation and manuals;
               (iv)  processes, marketing techniques and arrangements, mailing
           lists, purchasing information, pricing policies, quoting procedures,
           customer and prospect names and requirements, employee, customer,
           supplier and distributor data and other materials or information
           relating to the party's business and activities and the manner in
           which the party does business;
               (v)   discoveries, concepts, and ideas including, without
           limitation, the nature and results of research and development
           activities, processes, formulas, formulations, protocols, inventions,
           computer-related equipment or technology, techniques, data,
           "know-how", designs, drawings, prototypes, diagrams, schematics,
           descriptions, trade secrets, records, proposals, reports and methods
           and specifications;
               (vi)  any other materials or information related to the business
           or activities of the party that are not generally known to others
           engaged in similar businesses or activities; and
               (vii) all ideas that are derived from or relate to the other
           party's access to or knowledge of any of the above enumerated
           materials and information.

           (b) For purposes of this Agreement, the term "Confidential
           Information" shall not include information that is disclosed pursuant
           to the order of a court or Governmental Authority having competent
           jurisdiction, or that becomes publicly available without breach of
           either (i) this Agreement or (ii) any other agreement or instrument
           to which the applicable party is a party or a beneficiary; provided,
           however, that each party hereby acknowledges and agrees that if it
           shall seek to disclose, divulge, reveal, report, publish, transfer or
           use, for any purpose whatsoever, any Confidential Information, it
           shall bear the burden of proving that any such information has become
           publicly available without any such breach.

           "Credit Support Arrangements" has the meaning set forth in Section
           3.1 hereof.

           "Distribution" has the meaning set forth in the Recitals hereof.

           "Distribution Agent" has the meaning set forth in Section 2.1.1
           hereof.

           "Distribution Date" means the date as so determined by E-Z-EM in its
           sole and absolute discretion in accordance with Section 2 hereof on
           which the Distribution is declared (which date shall not necessarily
           be the same as the Payment Date).

           "E-Z-EM Board" has the meaning set forth in the Recitals hereof.

           "E-Z-EM Business" means the development, manufacture, and marketing
           of medical products used by radiologists, gastroenterologists and
           speech language pathologists for diagnostic imaging of diseases and
           disorders of the GI tract, as well as manufacturing barium sulfate
           suspensions, defense decontaminants, mining of barium sulfate, and
           acting as distributors for E-Z-EM's gastrointestinal products, but in
           no case may the E-Z-EM Business include any such activities if
           related to the AngioDynamics Business.

                                       26

<PAGE>

           "E-Z-EM Common Stock" has the meaning set forth in the Recitals
           hereof.

           "E-Z-EM Group" means E-Z-EM and each Subsidiary and Affiliate of
           E-Z-EM immediately after the Distribution Date and each Person that
           becomes a Subsidiary or an Affiliate of E-Z-EM (other than
           AngioDynamics and its Subsidiaries, if any) after the Distribution
           Date.

           "E-Z-EM Option Plans" means the stock option plans currently in
           effect for E-Z-EM.

           "E-Z-EM Plans" means (i) with the exceptions of the AngioDynamics
           Plans referred to in the first sentence of Section 5.1.2, every plan,
           policy, arrangement, contract or agreement providing compensation or
           benefits for any group of Employees or for any individual Employee or
           the dependents or beneficiaries of any such Employee, including
           without limitation Employee Welfare Plans, whether formal or informal
           or written or unwritten, and including, without limitation, any
           means, whether or not legally required, pursuant to which any benefit
           is provided by an employer to any Employee or the beneficiaries of
           any such Employee, and (ii) to the extent the context does not
           indicate to the contrary, other insurance policies currently in
           effect insuring E-Z-EM and AngioDynamics and their employees,
           directors and officers, including without limitation (A) directors
           and officers insurance and any other "fiduciary"-based insurance
           policies, (B) product liability insurance, (C) property (real or
           personal) insurance, and (D) business, casualty, general and/or
           umbrella liability insurance policies. The term "Plan" as used in
           this Agreement does not include any contract, agreement or
           understanding entered into by E-Z-EM or AngioDynamics relating to
           settlement of actual or potential employee-related litigation claims.

           "Employee" means an individual who, on the Payment Date, is
           identified as being in any of the following categories.

           E-Z-EM Categories of Employees (which shall for all purposes exclude
           AngioDynamics Employees):

               (i)   E-Z-EM Terminee. Any individual formerly employed in the
               E-Z-EM Business whose employment was terminated prior to the
               Payment Date.

               (ii)  E-Z-EM Employee. Any individual who is an Employee of
               E-Z-EM on the Payment Date.

           AngioDynamics Categories of Employees:

               (i)   AngioDynamics Terminee. Any individual formerly employed in
               the AngioDynamics Business whose employment was terminated prior
               to the Payment Date.

               (ii)  AngioDynamics Employee. Any individual who is an Employee
               of AngioDynamics on the Payment Date.

           "Employee Welfare Plans" means any Plan that provides medical,
           health, disability, accident, life insurance, death, dental or any
           other welfare benefit, including, without limitation, any
           post-employment benefit.

           "Equity Securities" means all classes of equity securities of
           AngioDynamics, and any options, instruments or other securities of
           AngioDynamics or any other issuer exercisable for, convertible into
           or exchangeable for AngioDynamics' equity securities.

           "ERISA" means the Employee Retirement Income Security Act of 1974.

           "Exchange Act" means the Securities and Exchange Act of 1934.

                                       27

<PAGE>

           "Exchange Act Registration Statement" shall have the meaning set
           forth in Section 2.2.1.

           "Existing Authority" has the meaning set forth in Section 3.8 hereof.

           "Existing E-Z-EM Stock Option" means each unexercised option to
           purchase E-Z-EM Common Stock outstanding as of the Record Date,
           issued pursuant to any of the E-Z-EM Option Plans or non-plan grant.

           "Governmental Approvals" means any notices, reports or other filings
           to be made, or any consents, registrations, approvals, permits or
           authorizations to be obtained from, any Governmental Authority.

           "Governmental Authority" shall mean any federal, state, local,
           foreign or international court, government, department, commission,
           board, bureau, agency, official or other regulatory, administrative
           or governmental authority.

           "Indemnified Person" has the meaning set forth in Section 6.1.

           "Information" means information, whether or not patentable or
           copyrightable, in written, oral, electronic or other tangible or
           intangible forms, stored in any medium, including studies, reports,
           records, books, audit work papers, work papers from internal audits,
           contracts, instruments, surveys, discoveries, ideas, concepts,
           know-how, techniques, designs, specifications, drawings, blueprints,
           diagrams, models, prototypes, samples, flow charts, data, computer
           data, disks, diskettes, tapes, computer programs or other software,
           marketing plans, customer names, communications by or to attorneys
           (including attorney-client privileged communications), memos and
           other materials prepared by attorneys or under their direction
           (including attorney work product), and other technical, financial,
           employee or business information or data.

           "Information Package" has the meaning set forth in Section 2.2.1
           hereof.

           "Intercompany Services" and "Intercompany Charges" shall have the
           meaning set forth in Section 8.1.

           "Law" means any applicable federal, state, local or foreign law,
           statute, ordinance, directive, rule, regulation, judgment, order,
           injunction, decree, arbitration award, agency requirement, license or
           permit of any Governmental Authority.

           "IPO Registration Statement" has the meaning set forth in the
           Recitals hereof.

           "Nasdaq" means the Nasdaq National Market of the Nasdaq Stock Market,
           Inc.

           "Payment Date" means the date of the delivery date of the
           AngioDynamics Common Stock distributed in the Distribution.

           "Person" means an individual, a partnership, a corporation, a limited
           liability company, an association, a joint stock company, a trust, a
           joint venture, an unincorporated organization and a governmental
           entity or any department, agency or political subdivision thereof.

           "Plan Payment Date" has the meaning ascribed thereto in Section
           5.3.1.

           "Prohibited Activities" has the meaning set forth in Section 3.9.1
           hereof.

           "Record Date" means the close of business on the date to be
           determined by the E-Z-EM Board as the record date for determining the
           shareholders of E-Z-EM entitled to receive shares of AngioDynamics

                                       28

<PAGE>

           Common Stock pursuant to a pro-rata distribution of shares of
           AngioDynamics Common Stock as part of the Distribution.

           "Service Credit" means the period taken into account under any Plan
           for purposes of determining length of service or plan participation
           to satisfy eligibility, vesting, benefit accrual and similar
           requirements under such Plan.

           "Subsidiary" means with respect to any specified Person, corporation,
           limited liability company, partnership or other legal entity of which
           such Person or its Subsidiaries owns, directly or indirectly, more
           than 50% of the stock or other equity interest entitled to vote on
           the election of the members of the board of directors or similar
           governing body.

           "Tax Agreement" has the meaning set forth in Section 1.2.1 hereof.

              [The remainder of this page intentionally left blank]

                                       29

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have signed this Distribution
Agreement effective as of the date first set forth above.

E-Z-EM, INC                             ANGIODYNAMICS, INC.

By:  /s/ Anthony Lombardo               By:  /s/ Eamonn Hobbs
    -------------------------------         ------------------------------------
Name: Anthony Lombardo                  Name: Eamonn Hobbs
      President and Chief Executive           President and Chief Executive
       Officer                                 Officer

                                       30

<PAGE>

                                    EXHIBIT C

                 Intercompany Services and Intercompany Charges

<TABLE>
<CAPTION>
                                          MONTHLY (EST.)  Termination
                                          --------------  ------------------------------
E-Z-EM CHARGES TO ANGIODYNAMICS      %           $
---------------------------------
<S>                                  <C>  <C>             <C>
Financial Consulting Services         20%          4,600  Fiscal year end - May 29, 2004
Accounting - Salary plus benefits                  1,300  Fiscal year end - May 29, 2004
Howard S. Stern - Consulting          35%          7,300  December 31, 2004
Howard S. Stern - Expenses            35%          2,300  December 31, 2004
Foreign Sales Management              45%          6,300  December 31, 2004
In-house Legal                        40%          8,400  Fiscal year end - May 29, 2004
                                          --------------
                                          $       30,200
Commissions (Foreign Sales of
AngioDynamics Products)              100%                 December 31, 2004

Miscellaneous Invoices                     (de minimis)

ANGIODYNAMICS (NON-MANUFACTURING)
CHARGES TO E-Z-EM
---------------------------------

Miscellaneous Invoices                     (de minimis)
</TABLE>

                                       31<PAGE>

                                                                    Exhibit 10.5
                               CORPORATE AGREEMENT

     THIS CORPORATE AGREEMENT, dated as of _____________, 2004 (this
"Agreement"), is by and between E-Z-EM, Inc., a Delaware corporation ("E-Z-EM"),
and AngioDynamics, Inc. (the "Company"). Certain capitalized terms used herein
are defined in ARTICLE 8 hereof.

     WHEREAS, the Company is currently a wholly-owned subsidiary of E-Z-EM, and
E-Z-EM and the Company contemplate that the Company will make an initial public
offering (the "IPO") of a portion of its common stock pursuant to a registration
statement on Form S-1 filed under the Securities Act;

     WHEREAS, on the date on which the IPO is completed (the "IPO Closing
Date"), E-Z-EM will own at least than 80% of the shares of Common Stock, par
value $.01 per share ("Common Stock"), of the Company outstanding on a Fully
Diluted Basis; and

     WHEREAS, in connection with the IPO and the subsequent Distribution, the
parties desire to enter into this Agreement, inter alia, to provide E-Z-EM with
certain continuing stockholder rights with respect to the Company following the
IPO and to assure compliance by the Company with certain corporate governance
requirements;

     NOW, THEREFORE, in consideration of the above premises and mutual
agreements set forth in this Agreement and subject to the terms and conditions
stated herein, the parties hereby agree as follows:

                                    ARTICLE 1

                                  CONSENT RIGHT

1.1  Defintions used in this ARTICLE 1.

     (a)  As used in Section 1.2, "Spinoff Event" means any event that (i)
          results in E-Z-EM's voting rights, ownership percentage in the voting
          stock of the Company and/or ownership of any other class of securities
          in the Company, as calculated under the applicable rules and
          regulations under the Code, decreasing below 80% on a Fully-Diluted
          Basis (other than Excluded Options), or (ii) would otherwise be the
          primary cause of the Distribution by E-Z-EM's and any applicable
          E-Z-EM Entities failing to be a tax-free transaction under the Code.

     (b)  As used in Section 1.1(a), "Excluded Options" means options granted
          for compensatory or other purposes that are not included in
          calculations relevant to determining whether a spinoff has remained a
          tax-free transaction under Section 355 of the Code (including
          calculations as to changes in share ownership and voting power and
          determining the availability of safe harbors).

1.2  E-Z-EM Consent Right. Without the prior written consent of E-Z-EM, which
     may be withheld or conditioned by E-Z-EM in its sole discretion, the
     Company agrees that it will not

     (a)  offer, sell, issue or acquire any Equity Securities,
     (b)  enter into any agreement to do any of the foregoing, or

<PAGE>

     (c)  sell or dispose of any assets other than in the ordinary course of
          business ("ordinary course" to be read as including the disposition of
          obsolete, non-performing and/or immaterial assets),

     if such action would result in, or be the primary cause of, a Spinoff
     Event.

1.3  Notice. In requesting the consent of E-Z-EM, the Company shall provide
     E-Z-EM with not fewer than 20 Business Days prior written notice of the
     date of the intended offer, sale, issuance, acquisition and/or non-ordinary
     course sale of assets, and all other information material to E-Z-EM or
     reasonably requested by E-Z-EM, including without limitation the intended
     date and the proposed size of the offer, intended sale, issuance,
     acquisition or non-ordinary course sale of assets, as well as the
     characteristics of the Equity Securities (as applicable). The failure of
     E-Z-EM to respond to such request shall be deemed conclusively to be a
     denial of E-Z-EM of the consent required under Section 1.2 above.

1.4  Without limiting the introductory language in Section 1.2, as a condition
     to E-Z-EM's providing its consent, E-Z-EM may condition the issuance of
     Equity Securities upon the issuance (at the same per unit or per share
     cost) to E-Z-EM of a sufficient number of shares of the applicable Equity
     Securities as would enable the E-Z-EM Entities to own at least 80% of the
     Company's outstanding equity and voting power on a Fully Diluted Basis
     (other than Excluded Options). This Section 1.4 shall inure solely to the
     benefit of E-Z-EM and the E-Z-EM Entities, and the Company shall have no
     rights to compel E-Z-EM or the E-Z-EM Entities to acquire any Equity
     Securities at any time.

1.5  Termination of Consent Right. The consent right granted under this ARTICLE
     1 shall terminate upon the earliest to occur of

     (a)  E-Z-EM granting its consent to the offer, sale, issuance or
          acquisition of Equity Securities where such event is expected by
          E-Z-EM to result, and did result, in a Spinoff Event,

     (b)  E-Z-EM giving notice to the Company that it is abandoning the
          Distribution,

     (c)  the completion of the Distribution by E-Z-EM and any applicable E-Z-EM
          Entities, or

     (d)  February 5, 2005, the one year anniversary of the receipt by E-Z-EM
          and the Company of the favorable private letter ruling from the
          Internal Revenue Service with respect to the Distribution and the
          application submitted on behalf of E-Z-EM and the Company by Caplin
          and Drysdale, Chartered, dated August 7, 2003 (as amended and
          supplemented, the "PLR Application"). If, prior to February 5, 2005,
          E-Z-EM obtains an opinion of tax counsel that the completion of the
          Distribution after the aforementioned one-year period will not result
          in any of the adverse tax effects set forth in the "Rulings Requested"
          portion of the PLR Application, then consent right shall terminate on
          August 5, 2005 and not February 5, 2005.

                                        2

<PAGE>

                                    ARTICLE 2

                               REGISTRATION RIGHTS

2.1  Demand Registration.

     (a)  E-Z-EM shall have the right, exercisable on multiple occasions from
          time to time during the term of this Agreement, but together with
          Unregistered Demands (as defined in Section 3.1(a) below) no more
          frequently than once during any twelve-month period, to require the
          Company to register for offer and sale under the Securities Act (a
          "Demand") all or a portion of the Common Stock held by the E-Z-EM
          Entities, subject to the restrictions set forth herein; provided that
          E-Z-EM shall not be entitled to make a Demand hereunder unless (i) the
          Common Stock subject to such Demand represents at least 5% of the
          aggregate shares of Common Stock then issued and outstanding, (ii) at
          least six months have passed since the completion of the IPO and (iii)
          at least six months have passed since the completion of the last
          offering pursuant to a Demand or Unregistered Demand under Section
          3.1. As promptly as practicable (but in no event later than 45 days)
          after the Company receives from E-Z-EM a notice pursuant to this
          Section 2.1(a) (a "Demand Notice"), demanding that the Company
          register part or all of the Common Stock held by the E-Z-EM Entities
          for offer and sale under the Securities Act, subject to Section
          2.1(b), the Company shall (i) file with the Commission a Registration
          Statement relating to the offer and sale of the Applicable Securities
          on such form as E-Z-EM may reasonably deem appropriate and (ii) after
          such filing, use reasonable best efforts to cause such Registration
          Statement to be declared effective under the Securities Act. Subject
          to Section 2.1(b), the Company shall use reasonable best efforts to
          keep each Registration Statement continuously effective in order to
          permit E-Z-EM to use the Prospectus forming a part thereof for resales
          of the Applicable Securities for a period ending on the earlier of (i)
          120 days from the Effective Time of such Registration Statement and
          (ii) such time as all of such securities have been disposed of by
          E-Z-EM. Subject to Section 2.1(b), the Company shall use reasonable
          best efforts to prepare and file with the Commission such amendments,
          post-effective amendments and supplements to the Registration
          Statement as may be necessary to maintain the effectiveness of the
          Registration Statement for such period and to cause the Prospectus
          forming a part thereof (and any amendments or supplements thereto) to
          be filed pursuant to Rules 424 and 430A under the Securities Act; and
          comply with the provisions of the Securities Act with respect to the
          disposition of all Applicable Securities covered by such Registration
          Statement during the applicable period in accordance with the intended
          method or methods of distribution thereof, as specified in writing by
          E-Z-EM.

     (b)  The Company shall have the right to postpone the filing, or delay the
          effectiveness, of a Registration Statement, or fail to keep such
          Registration Statement continuously effective or not amend or
          supplement the Registration Statement or included Prospectus, if the
          Board of Directors of the Company determines in good faith that (i)
          based upon the advice of counsel, filing such Registration Statement
          or causing the Registration Statement to go effective

                                        3

<PAGE>

          would require disclosure of material nonpublic information concerning
          a planned or proposed financing, acquisition, disposition, business
          combination or other similar transaction or other material event
          involving the Company or its Subsidiaries and (ii) disclosure at such
          time would be adverse to the Company or its stockholders; provided
          that no such postponement shall exceed 90 days and there shall be no
          more than one such postponement in any 12-month period. Any such
          postponement shall terminate immediately upon public disclosure by the
          Company or public admission by the Company of such material nonpublic
          information. The Company shall advise E-Z-EM of any such determination
          as promptly as practicable after such determination.

     (c)  E-Z-EM shall have the right to withdraw any Demand at any time. Any
          such withdrawn Demand after a Registration Statement has been filed
          shall still be counted as a Demand for determining the number or
          frequency of Demands under Section 2.1(a), unless E-Z-EM shall
          reimburse or pay the costs and fees incurred in connection therewith.

     (d)  In the event that any Registration pursuant to this Section 2.1 shall
          involve, in whole or in part, an underwritten offering, the lead
          managing underwriter (book runner) shall be selected by E-Z-EM and
          shall be reasonably acceptable to the Company, and, if the shares
          covered by the Registration have an aggregate value exceeding $20
          million, a the Company may select a co-managing underwriter reasonably
          acceptable to E-Z-EM.

2.2  Piggy-back Registration.

     (a)  If at any time the Company intends to file on its behalf or on behalf
          of any of its securityholders a Registration Statement in connection
          with a public offering of any securities of the Company on a form and
          in a manner that would permit the registration for offer and sale of
          Common Stock held by the E-Z-EM Entities, other than a registration
          statement on Form S-8 or Form S-4, then the Company shall give written
          notice (an "Intended Offering Notice") of such intention to E-Z-EM at
          least 20 Business Days prior to the anticipated filing date of such
          Registration Statement. Such Intended Offering Notice shall offer to
          include in such Registration Statement for offer to the public such
          number of shares of Common Stock as E-Z-EM may request, subject to the
          conditions set forth herein, and shall specify, to the extent then
          known, the number and class of securities proposed to be registered,
          the proposed date of filing of such Registration Statement, any
          proposed means of distribution of such securities, any proposed
          managing underwriter or underwriters of such securities and a good
          faith estimate by the Company of the proposed maximum offering price
          of such securities, as such price is proposed to appear on the facing
          page of such Registration Statement. E-Z-EM shall advise the Company
          in writing (such written notice being a "Piggy-back Notice") not later
          than 10 Business Days after the Company's delivery to E-Z-EM of the
          Intended Offering Notice, if E-Z-EM desires to participate in such
          offering. The Piggy-back Notice shall set forth the number of shares
          of Common Stock E-Z-EM desires to have included in the Registration
          Statement and offered to the public. Upon the request of the Company,
          E-Z-EM shall enter into such underwriting, custody and other
          agreements as are customary in connection with registered secondary
          offerings or necessary or appropriate in connection with the offering.

                                        4

<PAGE>

     (b)  In connection with an underwritten offering pursuant to this Section
          2.2, if the managing underwriter or underwriters advise the Company
          and E-Z-EM in writing that in its or their opinion the number of
          securities proposed to be registered exceeds the number that can be
          sold in such offering, the Company shall include in such Registration
          the number of securities that, in the opinion of such managing
          underwriter or underwriters, can be sold as follows: (i) first, the
          securities that the Company proposes to sell, (ii) second, Applicable
          Securities requested to be included in such Registration by E-Z-EM and
          (iii) third, other securities requested to be included in such
          Registration.

     (c)  The rights of E-Z-EM pursuant to Section 2.1 hereof and this Section
          2.2 are cumulative, and the exercise of rights under one such section
          shall not exclude the subsequent exercise of rights under the other
          section (except to the extent expressly provided otherwise herein).
          Notwithstanding anything herein to the contrary, the Company may
          abandon and/or withdraw any Registration as to which any right under
          Section 2.2 may exist at any time and for any reason without liability
          hereunder. In such event, the Company shall notify E-Z-EM (if E-Z-EM
          has delivered a Piggy-back Notice to the Company to participate
          therein).

     (d)  Nothing contained in this Section 2.2 shall be deemed to eliminate the
          requirements of obtaining E-Z-EM's consent under ARTICLE 1.

2.3  Registration Procedures. In connection with a Registration Statement, the
     following provisions shall apply:

     (a)  Before filing a Registration Statement or the Prospectus included
          therein, the Company will furnish to E-Z-EM and the managing
          underwriter or underwriters, if any, draft copies of all such
          documents proposed to be filed at least three (3) days prior to such
          filing, which documents will be subject to the reasonable review of
          E-Z-EM and the managing underwriter or underwriters, if any, and their
          respective agents and representatives and (x) the Company will not
          include in any Registration Statement information concerning or
          relating to E-Z-EM to which E-Z-EM shall reasonably object (unless the
          inclusion of such information is required by applicable law or the
          regulations of any securities exchange or automated quotation system
          to which the Company may be subject), and (y) the Company will not
          file any Registration Statement pursuant to Section 2.1, any amendment
          thereto, or any Prospectus or any supplement thereto to which E-Z-EM
          shall reasonably object.

     (b)  The Company shall furnish to E-Z-EM, prior to the time the
          Registration Statement has been declared effective, a copy of the
          Registration Statement as initially filed with the Commission, and
          each amendment thereto and each amendment or supplement, if any, to
          the Prospectus included therein.

     (c)  Subject to Section 2.1(b) and in respect of a Registration Statement
          under Section 2.1, the Company shall use reasonable best efforts to
          take promptly such action as may be necessary so that (i) each of the
          Registration Statement and any amendment thereto and the Prospectus
          forming part thereof and any amendment or supplement thereto (and each
          report or other document incorporated therein by

                                        5

<PAGE>

          reference in each case), when it becomes effective, complies in all
          material respects with the Securities Act and the Exchange Act, (ii)
          each of the Registration Statement and any amendment thereto does not,
          when it becomes effective, contain an untrue statement of a material
          fact or omit to state a material fact required to be stated therein or
          necessary to make the statements therein not misleading and (iii) each
          of the Prospectus forming part of the Registration Statement, and any
          amendment or supplement to such Prospectus, does not at any time
          during the period during which the Company is required to use
          reasonable best efforts to keep a Registration Statement effective
          under Section 2.1(a) include an untrue statement of a material fact or
          omit to state a material fact necessary in order to make the
          statements therein, in the light of the circumstances under which they
          were made, not misleading.

     (d)  The Company shall, promptly upon learning thereof, advise E-Z-EM and
          the managing underwriter or underwriters, if any, thereof, of the
          following, and shall confirm such advice in writing if so requested:

          (i)   when a Registration Statement and any amendment thereto has been
                filed with the Commission and when the Registration Statement or
                any post-effective amendment thereto has become effective;

          (ii)  of any request by the Commission for amendments or supplements
                to the Registration Statement or the Prospectus included therein
                or for additional information with respect to the Registration
                Statement and Prospectus;

          (iii) of the issuance by the Commission of any stop order suspending
                the effectiveness of the Registration Statement or the
                initiation of any proceedings for such purpose;

          (iv)  of the receipt by the Company of any notification with respect
                to the suspension of the qualification of the securities
                included in the Registration Statement for sale in any
                jurisdiction or the initiation of any proceeding for such
                purpose; and

          (v)   following the effectiveness of any Registration Statement, of
                the happening of any event or the existence of any state of
                facts that requires the making of any changes in the
                Registration Statement or the Prospectus included therein so
                that, as of such date, such Registration Statement and
                Prospectus do not contain an untrue statement of a material fact
                and do not omit to state a material fact required to be stated
                therein or necessary to make the statements therein (in the case
                of the Prospectus, in light of the circumstances under which
                they were made) not misleading (which advice shall be
                accompanied by an instruction to E-Z-EM to suspend the use of
                the Prospectus until the requisite changes have been made, which
                instruction E-Z-EM agrees to follow).

     (e)  In respect of a Registration Statement under Section 2.1 (and not
          Section 2.2), the Company shall use reasonable best efforts to prevent
          the issuance, and if issued to obtain the withdrawal, of any stop
          order suspending the effectiveness of the Registration Statement at
          the earliest possible time.

                                        6

<PAGE>

     (f)  The Company shall furnish to E-Z-EM, without charge, at least one copy
          of the Registration Statement and all post-effective amendments
          thereto, including financial statements and schedules, and, if E-Z-EM
          so requests in writing, all reports, other documents and exhibits that
          are filed with or incorporated by reference in the Registration
          Statement.

     (g)  The Company shall, during the period during which it is required to
          use reasonable best efforts to keep a Registration Statement
          continuously effective under Section 2.1(a) or elects to keep a
          Registration Statement effective under Section 2.2, deliver to E-Z-EM
          without charge, as many copies of the Prospectus (including each
          preliminary Prospectus) included in the Registration Statement and any
          amendment or supplement thereto as E-Z-EM may reasonably request, and
          the Company consents (except during the continuance of any event
          described in Section 2.1(b) or Section 2.3(d)(v) hereof) to the use of
          the Prospectus, with any amendment or supplement thereto, by E-Z-EM in
          connection with the offering and sale of the Applicable Securities
          covered by the Prospectus and any amendment or supplement thereto
          during such period.

     (h)  In connection with the rights provided by this ARTICLE 2, the Company
          shall, except during any permitted postponement pursuant to Section
          2.1(b), make available for inspection by E-Z-EM or by any attorney,
          accountant or other agent retained by E-Z-EM (collectively, the
          "Inspectors") financial and other records and pertinent corporate
          documents of the Company (collectively, the "Records"), provide the
          Inspectors with opportunities to discuss the business of the Company
          with its officers, and provide opportunities to discuss the business
          of the Company with the independent public accountants who have
          certified its most recent annual financial statements, in each case to
          the extent but only to the extent reasonably necessary to enable
          E-Z-EM to conduct a "reasonable investigation" for purposes of Section
          11(a) of the Securities Act. Records that the Company determines, in
          good faith, to be confidential and with respect to which the Company
          notifies the Inspectors as to the confidential nature thereof shall
          not be disclosed by the Inspectors unless (i) the disclosure of such
          Records is necessary to avoid or correct a misstatement of a material
          fact or omission to state a material fact in the Registration
          Statement, (ii) the disclosure of such Records is required by any
          court or governmental body with jurisdiction over E-Z-EM or the
          Inspectors or (iii) all of the information contained in such Records
          has been made generally available to the public. E-Z-EM agrees that it
          will, upon learning that disclosure of such Records is sought in a
          court of competent jurisdiction or by any governmental body, promptly
          give prior notice to the Company and allow the Company, at the
          Company's expense, to undertake appropriate action to prevent
          disclosure of those Records deemed confidential.

     (i)  Prior to any offering of Applicable Securities pursuant to the
          Registration Statement, the Company shall use reasonable best efforts
          to (i) register or qualify or cooperate with E-Z-EM and its counsel in
          connection with the registration or qualification of such Applicable
          Securities for offer and sale under the securities (or "blue sky")
          laws of such jurisdictions within the United States as E-Z-EM may
          reasonably request, (ii) keep such registrations or qualifications in
          effect and comply with such laws so as to permit the continuance of
          offers and sales in such jurisdictions for the period during which the
          Company is required to use

                                        7

<PAGE>

          reasonable best efforts to keep a Registration Statement continuously
          effective under Section 2.1(a), and (iii) take any and all other
          reasonable actions requested by E-Z-EM which are necessary to enable
          the disposition in such jurisdictions of such Applicable Securities;
          provided, however, that in no event shall the Company be obligated to
          (1) qualify as a foreign corporation or as an issuer of or dealer in
          securities in any jurisdiction where it would not otherwise be
          required to so qualify but for this Agreement or (2) file any general
          consent to service of process or subject itself to tax in any
          jurisdiction where it is not so subject.

     (j)  The Company shall cooperate with E-Z-EM to facilitate the timely
          preparation and delivery of certificates representing Applicable
          Securities to be sold pursuant to the Registration Statement, which
          certificates shall comply with the requirements of any United States
          securities exchange upon which any Applicable Securities are listed
          (provided that nothing herein shall require the Company to list any
          Applicable Securities on any securities exchange or with any quotation
          system on which they are not currently listed or quoted, as
          applicable) or the NASD Rules, as applicable, and which certificates
          shall be free of any restrictive legends and in such permitted
          denominations and registered in such names as E-Z-EM may request in
          connection with the sale of Applicable Securities pursuant to the
          Registration Statement.

     (k)  The Company shall:

          (i)   make such reasonable representations and warranties in the
                applicable underwriting agreement to the underwriters, in form,
                substance and scope as are customary and as are consistent with
                the representations and warranties made in the underwriting
                agreement related to the IPO;

          (ii)  in connection with any underwritten offering, use reasonable
                best efforts to obtain opinions of counsel to the Company (which
                counsel and opinions, in form, scope and substance, shall be
                reasonably satisfactory to the underwriters) addressed to the
                underwriters, covering such matters as are customary to the
                extent reasonably required by the applicable underwriting
                agreement;

          (iii) in connection with any underwritten offering, use reasonable
                best efforts to obtain "cold comfort" letters and updates
                thereof from the independent public accountants of the Company
                (and, if necessary, from the independent public accountants of
                any subsidiary of the Company or of any business acquired by the
                Company for which financial statements and financial data are,
                or are required to be, included in the Registration Statement),
                addressed to E-Z-EM and the underwriters, in customary form and
                covering matters of the type customarily covered in "cold
                comfort" letters in connection with secondary underwritten
                offerings of equity securities;

          (iv)  in connection with any underwritten offering, use reasonable
                best efforts to deliver such documents and certificates as may
                be reasonably requested by E-Z-EM and the underwriters, if any,
                including, without limitation, certificates to evidence
                compliance with any conditions

                                        8

<PAGE>

                contained in the underwriting agreement or other agreements
                entered into by the Company; and

          (v)   undertake such obligations relating to expense reimbursement,
                indemnification and contribution as provided in Section 2.4 and
                ARTICLE 4 hereof.

     (l)  The Company shall comply with all applicable rules and regulations of
          the Commission and make available to its security holders an earnings
          statement, as soon as reasonably practicable but in no event later
          than 90 days after the end of the twelve month period commencing on
          the first day of any fiscal quarter after the date hereof following
          each sale by E-Z-EM of Applicable Securities, which earnings statement
          shall cover such twelve-month period and shall satisfy the
          requirements under the Securities Act.

     (m)  In respect of a Registration Statement under Section 2.1 (and not
          Section 2.2), the Company shall use reasonable best efforts to take
          all other steps reasonably necessary to effect the timely
          registration, offering and sale of the Applicable Securities covered
          by the Registration Statements contemplated hereby.

2.4  Registration Expenses. The Company shall bear the Registration Expenses in
     connection with the performance of its obligations under Section 2.1,
     Section 2.2 and Section 2.3. E-Z-EM shall bear all of the fees and expenses
     of counsel to E-Z-EM, any applicable underwriting discounts or commissions,
     and registration or filing fees with respect to the Applicable Securities
     being sold by E-Z-EM.

2.5  Registrable Securities. The registration rights granted under this ARTICLE
     2 relate only to the following securities: (i) the shares of the Company's
     common stock held by E-Z-EM or the E-Z-EM Entities on the date of the
     Distribution, (ii) shares of the Company's common stock acquired by E-Z-EM
     or another E-Z-EM Entity as a condition to granting a consent under ARTICLE
     1 hereof (including without limitation as set forth in Section 1.4), and
     (iii) securities constituting proceeds of the foregoing (other than
     securities acquired with cash dividends), whether received through stock
     dividends, stock splits, share consolidations/reverse splits, mergers or
     otherwise (as contemplated in Section 7.6 hereof.

2.6  Other Provisions; Cooperation; Filing of Reports.

     (a)  The respective agreements and other provisions set forth in this
          ARTICLE 2 or made pursuant to this ARTICLE 2 shall remain in full
          force and effect, regardless of any investigation (or any statement as
          to the results thereof) made by or on behalf of E-Z-EM, any director,
          officer or partner of E-Z-EM, any agent or underwriter, any director,
          officer or partner of such agent or underwriter, or any Affiliate of
          any of the foregoing, and shall survive the registration, offering and
          sale of the Applicable Securities.

     (b)  E-Z-EM shall cooperate with respect to any Registration effected under
          this Agreement and shall provide such information, documents, and
          instruments as may be reasonably requested in connection therewith.

                                        9

<PAGE>

     (c)  The Company shall use reasonable best efforts to file all reports
          required to be filed with respect to the Company under Section 13 or
          Section 15(d) of the Exchange Act during such time as E-Z-EM has
          rights remaining under this ARTICLE 2.

                                    ARTICLE 3

                             UNREGISTERED OFFERINGS

3.1  Unregistered Demand.

     (a)  E-Z-EM shall have the right, exercisable on multiple occasions from
          time to time during the term of this Agreement, but together with any
          Demand no more frequently than once during any twelve-month period, to
          require (in an "Unregistered Demand") that the Company prepare an
          offering memorandum or similar document (each, an "Offering
          Memorandum") in connection with any offer or sale of Common Stock held
          by the E-Z-EM Entities, subject to the restrictions set forth herein,
          that is not registered under the Securities Act (each, an
          "Unregistered Offering"); provided that E-Z-EM shall not be entitled
          to make an Unregistered Demand hereunder unless (i) the Common Stock
          subject to such Unregistered Demand represents at least 5% of the
          aggregate shares of Common Stock then issued and outstanding, (ii) at
          least six months have passed since the completion of the IPO and (iii)
          at least six months have passed since the completion of the last
          offering pursuant to a Demand under Section 2.1 or sale pursuant to an
          Unregistered Demand. As promptly as practicable (but in no event later
          than 30 days) after the Company receives from E-Z-EM a notice pursuant
          to this Section 3.1(a) (an "Unregistered Notice"), demanding that the
          Company prepare an Offering Memorandum with respect to part or all of
          the Common Stock held by the E-Z-EM Entities for offer and sale,
          subject to Section 3.1(b), the Company shall prepare such Offering
          Memorandum.

     (b)  The Company shall have the right to postpone the preparation or
          distribution of an Offering Memorandum if the Board of Directors of
          the Company determines in good faith that (i) based upon the advice of
          counsel, distributing such Offering Memorandum would require
          disclosure in the Offering Memorandum of material nonpublic
          information concerning a planned or proposed financing, acquisition,
          disposition, business combination or similar transaction or other
          material event involving the Company and (ii) disclosure at such time
          would be adverse to the Company or its stockholders; provided that no
          one such postponement shall exceed 90 days and the Company may only
          postpone preparation or distribution of the Offering Memorandum one
          time in any 12-month period. Any such postponement shall terminate
          immediately upon public disclosure by the Company or public admission
          by the Company of such material nonpublic information. The Company
          shall advise E-Z-EM of any such determination as promptly as
          practicable after such determination.

     (c)  Anything in this Agreement to the contrary notwithstanding, the
          Company shall not be obligated to prepare any Offering Memorandum or
          may postpone and delay the preparation and distribution of any
          Offering Memorandum if the Company shall determine, based on advice of
          recognized U.S. securities counsel

                                       10

<PAGE>

          which counsel shall be available to the E-Z-EM to discuss the basis of
          such advice, that the proposed offer and sale of Applicable Securities
          in E-Z-EM's intended method of distribution would require that the
          Company register the securities under the Securities Act. In making
          such determination, the Company shall be entitled to take into account
          any offerings or anticipated offerings by it of its securities that
          may be deemed a part of the Unregistered Offering. In such event, such
          proposed Unregistered Offering shall not be counted as an Unregistered
          Demand for determining the frequency of Unregistered Demands under
          Section 3.1. In addition, E-Z-EM shall be entitled to exercise any
          Piggy-Back Registration rights subject to the terms and conditions of
          Section 2.2, or alternatively, to require the Company to undertake a
          Demand subject to the terms and conditions of Section 2.1.

     (d)  E-Z-EM shall have the right to withdraw any Unregistered Demand at any
          time, provided that any such withdrawn Unregistered Demand shall still
          be counted as an Unregistered Demand for determining the frequency of
          Unregistered Demands under Section 3.1(a) unless E-Z-EM shall
          reimburse or pay the costs and fees incurred in connection therewith.

3.2  Unregistered Offering Procedures. In connection with an Offering
     Memorandum, the following provisions shall apply:

     (a)  Before distributing an Offering Memorandum or any amendments or
          supplements thereto, the Company will furnish to E-Z-EM, and the
          placement agent or agents, if any, for the Applicable Securities,
          draft copies of all such documents proposed to be distributed at least
          three (3) days prior to such distribution, which documents will be
          subject to the reasonable review of E-Z-EM, the placement agent or
          agents, if any, for the Applicable Securities, and their respective
          agents and representatives and (x) the Company will not include in any
          Offering Memorandum information concerning or relating to E-Z-EM to
          which E-Z-EM shall reasonably object (unless the inclusion of such
          information is required by applicable law or the regulations of any
          securities exchange to which the Company may be subject), and (y) the
          Company will not distribute any Offering Memorandum pursuant to
          Section 3.1 or any amendment thereto or any supplement thereto to
          which E-Z-EM shall reasonably object;

     (b)  Subject to Section 3.1(b) and in respect of an Offering Memorandum
          under Section 3.1, the Company shall use reasonable best efforts to
          take promptly such action as may be necessary so that each of the
          Offering Memorandum and any amendment thereto does not contain an
          untrue statement of a material fact or omit to state a material fact
          necessary in order to make the statements therein, in light of the
          circumstances under which they were made, not misleading.

     (c)  The Company shall, promptly upon learning thereof, advise E-Z-EM of
          the following, and shall confirm such advice in writing if so
          requested:

          (i)   the issuance by the Commission of any stop order suspending the
                use of any Offering Memorandum or the initiation of any
                proceedings for such purpose;

                                       11

<PAGE>

          (ii)  the receipt by the Company of any notification with respect to
                the suspension of the qualification of the Applicable Securities
                for sale in any jurisdiction or the initiation of any proceeding
                for such purpose; and

          (iii) the happening of any event or the existence of any state of
                facts that requires the making of any changes in the Offering
                Memorandum so that such Offering Memorandum does not contain an
                untrue statement of a material fact and does not omit to state a
                material fact required to be stated therein or necessary to make
                the statements therein not misleading (which advice shall be
                accompanied by an instruction to E-Z-EM to suspend the use of
                the Offering Memorandum until the requisite changes have been
                made, which instruction E-Z-EM agrees to follow).

     (d)  The Company shall furnish to E-Z-EM, without charge, at least one copy
          of the Offering Memorandum and all amendments and supplements thereto,
          including financial statements and schedules, and, if E-Z-EM so
          requests in writing, all reports, other documents and exhibits that
          are filed with or incorporated by reference in the Offering
          Memorandum.

     (e)  During the distribution of the Offering Memorandum pursuant to Section
          3.1, the Company shall deliver to E-Z-EM without charge as many copies
          of the Offering Memorandum and any amendment or supplement thereto as
          E-Z-EM may reasonably request, and the Company consents (except during
          the continuance of any event described in Section 3.1(b), Section
          3.1(c) or Section 3.2(c)(iii) hereof) to the use of the Offering
          Memorandum, with any amendment or supplement thereto, by E-Z-EM in
          connection with the offering and sale of the Applicable Securities
          covered by the Offering Memorandum and any amendment or supplement
          thereto during such distribution period.

     (f)  Prior to any offering of Applicable Securities pursuant to the
          Offering Memorandum, the Company shall use reasonable best efforts to
          (i) qualify or cooperate with E-Z-EM and its counsel in connection
          with the qualification of such Applicable Securities for offer and
          sale under the securities (or "blue sky") laws of such jurisdictions
          in the United States as E-Z-EM may reasonably request, (ii) keep such
          qualifications in effect and comply with such laws so as to permit the
          continuance of offers and sales in such jurisdictions for the period
          during which the Company is required to use reasonable best efforts to
          prepare an Offering Memorandum under Section 3.1(a), and (iii) take
          any and all other reasonable actions requested by E-Z-EM that are
          necessary to enable the disposition in such jurisdictions of such
          Applicable Securities; provided, however, that in no event shall the
          Company be obligated to (1) qualify as a foreign corporation or as a
          dealer in securities in any jurisdiction where it would not otherwise
          be required to so qualify but for this Agreement or (2) file any
          general consent to service of process or subject itself to tax in any
          jurisdiction where it is not so subject.

     (g)  The Company shall cooperate with E-Z-EM to facilitate the timely
          preparation and delivery of certificates representing Applicable
          Securities to be sold pursuant to the Offering Memorandum, which
          certificates shall comply with the requirements of any United States
          securities exchange which any Applicable Securities are listed
          (provided that nothing herein shall require the Company to

                                       12

<PAGE>

          list any Applicable Securities on any securities exchange or with any
          quotation system on which they are not currently listed or quoted) or
          the NASD Rules, as applicable, and which certificates shall contain
          customary legends and be in such permitted denominations and
          registered in such names as E-Z-EM may request in connection with the
          sale of Applicable Securities pursuant to the Offering Memorandum.

     (h)  The Company shall use reasonable best efforts to make such reasonable
          representations and warranties in the applicable placement agency
          agreement to the placement agents, in form, substance and scope as are
          customary.

     (i)  In connection with any Unregistered Offering pursuant to Rule 144A
          under the Securities Act, the Company shall, to the extent customary
          in connection with transactions comparable to such Unregistered
          Offering, undertake to enter into a registration rights agreement
          containing customary terms and conditions with the purchasers in such
          Unregistered Offering.

     (j)  In respect of an Offering Memorandum under Section 3.1, the Company
          shall use reasonable best efforts to take all other steps reasonably
          necessary to effect the timely distribution, offering and sale of the
          Applicable Securities covered by the Offering Memorandum contemplated
          hereby.

3.3  Other Provisions; Cooperation.

     (a)  The respective agreements and other provisions set forth in this
          ARTICLE 3 or made pursuant to this ARTICLE 3 shall remain in full
          force and effect, regardless of any investigation (or any statement as
          to the results thereof) made by or on behalf of E-Z-EM, any director,
          officer or partner of E-Z-EM, any placement agent, any director,
          officer or partner of such placement agent, or any Affiliate of any of
          the foregoing, and shall survive the distribution, offering and sale
          of the Applicable Securities.

     (b)  E-Z-EM shall cooperate with respect to any Offering Memorandum
          effected under this Agreement and shall provide such information,
          documents, and instruments as may be reasonably requested in
          connection therewith.

3.4  Private Sales to which Applicable. The obligations to prepare and
     distribute an offering memorandum and other obligations set forth in this
     ARTICLE 3 relate only to the sale, transfer and/or assignment by E-Z-EM of
     the following securities: (i) the shares of the Company's common stock held
     by E-Z-EM or the E-Z-EM Entities on the date of the Distribution, (ii)
     shares of the Company's common stock acquired by E-Z-EM or another E-Z-EM
     Entity as a condition to granting a consent under ARTICLE 1 hereof
     (including without limitation as set forth in Section 1.4), and (iii)
     securities constituting proceeds of the foregoing (other than securities
     acquired with cash dividends), whether received through stock dividends,
     stock splits, share consolidations/reverse splits, mergers or otherwise.

                                       13

<PAGE>

                                    ARTICLE 4

                        INDEMNIFICATION AND CONTRIBUTION

4.1  Indemnification by the Company. Upon the effectiveness of the Registration
     of Applicable Securities pursuant to Section 2.1 or Section 2.2, or the
     distribution of the Offering Memorandum pursuant to Section 3.1, the
     Company shall indemnify and hold harmless E-Z-EM and each underwriter,
     selling agent or placement agent, and their respective officers and
     directors and each Person who controls E-Z-EM or such underwriter, selling
     agent or placement agent within the meaning of Section 15 of the Securities
     Act or Section 20 of the Exchange Act (each such Person being sometimes
     referred to as an "Indemnified Person") from and against any losses,
     claims, damages or liabilities, joint or several (or actions in respect
     thereof), to which such Indemnified Person may become subject under the
     Securities Act, the Exchange Act or otherwise, insofar as such losses,
     claims, damages or liabilities (or actions in respect thereof) arise out of
     or are based upon an untrue statement or alleged untrue statement of a
     material fact contained in any Registration Statement (or any Prospectus
     contained therein) or Offering Memorandum, as the case may be, under which
     such Applicable Securities are registered under the Securities Act or
     distributed, respectively, or furnished by the Company to any Indemnified
     Person, or any amendment or supplement thereto in each case relating to the
     sale of Applicable Securities, or arise out of or are based upon the
     omission or alleged omission to state therein a material fact required to
     be stated therein or necessary to make the statements therein not
     misleading, and the Company hereby agrees to reimburse such Indemnified
     Person for any reasonable legal or other expenses reasonably incurred by it
     in connection with investigating or defending any such loss, claim, damage
     or liability (or action in respect thereof) as such expenses are incurred;
     provided, however, that (i) the Company shall not be liable to any such
     Indemnified Person in any such case to the extent that any such loss,
     claim, damage or liability arises out of or is based upon an untrue
     statement or alleged untrue statement or omission or alleged omission made
     in such Registration Statement, Prospectus or Offering Memorandum, or
     amendment or supplement, in reliance upon and in conformity with written
     information furnished to the Company by such Indemnified Person expressly
     for use therein; (ii) the Company shall not be liable to the extent that
     any loss, claim, damage, liability (or action or proceeding in respect
     thereof) or expense arises out of or is based upon (a) the use of any
     Prospectus after such time as the obligation of the Company to keep the
     same effective and current has expired, or (b) the use of any Prospectus
     after such time as the Company has advised E-Z-EM in writing that a
     post-effective amendment or supplement thereto is required, except such
     Prospectus as so amended or supplemented.

4.2  Indemnification by E-Z-EM. E-Z-EM agrees, as a consequence of the inclusion
     of Applicable Securities in such Registration Statement or Offering
     Memorandum, to (i) indemnify and hold harmless the Company and its
     directors and officers and each Person, if any, who controls the Company,
     within the meaning of either Section 15 of the Securities Act or Section 20
     of the Exchange Act, against any losses, claims, damages or liabilities (or
     actions in respect thereof) to which the Company or such other Persons may
     become subject, under the Securities Act, the Exchange Act or otherwise,
     insofar as such losses, claims, damages or liabilities (or actions in
     respect thereof) arise out of or are based upon an untrue statement or
     alleged untrue statement of a material fact contained in such Registration
     Statement, Prospectus or Offering Memorandum, or any amendment or
     supplement thereto, or arise out of or are based upon the omission or
     alleged omission to state therein a material fact required to be stated
     therein or necessary to make the

                                       14

<PAGE>

     statements therein not misleading, in each case to the extent, but only to
     the extent, that such untrue statement or alleged untrue statement or
     omission or alleged omission was made in reliance upon and in conformity
     with written information furnished to the Company by E-Z-EM expressly for
     use therein, and (ii) subject to the limitation set forth immediately
     preceding this clause (ii), reimburse the Company for any legal or other
     expenses reasonably incurred by it in connection with investigating or
     defending any such action or claim as such expenses are incurred.

4.3  Procedure for Indemnification. Promptly after receipt by any Person
     entitled to indemnity (an "Indemnitee") under Section 4.1 or Section 4.2
     hereof of notice of the commencement of any action or claim, such
     Indemnitee shall, if a claim in respect thereof is to be made against an
     indemnitor (an "Indemnitor") under this ARTICLE 4, notify such Indemnitor
     in writing of the commencement thereof, but any omission or delay in
     notifying the Indemnitor shall not relieve it from any liability which it
     may have to any Indemnitee except to the extent of any actual prejudice. In
     case any such action shall be brought against any Indemnitee, it shall
     notify an Indemnitor of the commencement thereof, such Indemnitor shall be
     entitled to participate therein and, to the extent that it shall wish,
     jointly with any other Indemnitor similarly notified, to assume the defense
     thereof, with counsel reasonably satisfactory to such Indemnitee, and,
     after notice from the Indemnitor to such Indemnitee of its election so to
     assume the defense thereof, such Indemnitor shall not be liable to such
     Indemnitee under this ARTICLE 4 for any legal expenses of other counsel or
     any other expenses, in each case subsequently incurred by such Indemnitee,
     in connection with the defense thereof. No Indemnitor shall, without the
     prior written consent of the Indemnitee, effect the settlement or
     compromise of, or consent to the entry of any judgment with respect to, any
     pending or threatened action or claim in respect of which indemnification
     or contribution may be sought hereunder (whether or not the Indemnitee is
     an actual or potential party to such action or claim) unless such
     settlement, compromise or judgment (i) includes an unconditional release of
     the Indemnitee from all liability arising out of such action or claim and
     (ii) does not include a statement as to, or an admission of, fault,
     culpability or a failure to act, by or on behalf of any Indemnitee.
     Notwithstanding the foregoing, an Indemnitee shall have the right to employ
     separate counsel reasonably acceptable to the Indemnitor in any such
     proceeding and to participate in (but not control, other than as provided
     in (3) below) the defense thereof, but the fees and expenses of such
     counsel shall be at the expense of such Indemnitee unless (1) the
     Indemnitor has agreed to pay such fees and expenses; (2) the Indemnitor
     shall have failed after notice to assume the defense of such proceeding; or
     (3) the named parties to any such proceeding (including any impleaded
     parties) include both such Indemnitee and the Indemnitor or any of its
     Affiliates or controlling persons, and a conflict of interest may
     reasonably be expected to exist if such counsel represents such Indemnitee
     and the Indemnitor (or such Affiliate or controlling person) and in the
     case of (3), the Indemnitee shall have the right to control the
     Indemnitee's defense and in each of the cases, if such Indemnitee notifies
     the Indemnitor in writing that it elects to employ separate counsel, the
     reasonable fees and expenses of such counsel shall be at the expense of the
     Indemnitor; it being understood, however, that the Indemnitor shall not, in
     connection with any one such proceeding or separate but substantially
     similar or related proceedings in the same jurisdiction, arising out of the
     same general allegations or circumstances, be liable for the reasonable
     fees and expenses of more than one separate firm of attorneys (together
     with appropriate local counsel) at any time for all such Indemnitees, which
     firm shall be designated by the Indemnitee that had the largest number of
     shares included in the applicable Registration

                                       15

<PAGE>

     Statement. An Indemnitor shall not be liable for any settlement of an
     action effected without its written consent.

4.4  Contribution. If the indemnification provided for in this ARTICLE 4 is
     unavailable to or insufficient to hold harmless an Indemnitee under Section
     4.1 or Section 4.2 hereof in respect of any losses, claims, damages or
     liabilities (or actions in respect thereof) referred to therein, then each
     Indemnitor shall contribute to the amount paid or payable by such
     Indemnitee as a result of such losses, claims, damages or liabilities (or
     actions in respect thereof) in such proportion as is appropriate to reflect
     the relative fault of the Indemnitor and the Indemnitee in connection with
     the statements or omissions which resulted in such losses, claims, damages
     or liabilities (or actions in respect thereof), as well as any other
     relevant equitable considerations. The relative fault of such Indemnitor
     and Indemnitee shall be determined by reference to, among other things,
     whether the untrue or alleged untrue statement of a material fact or
     omission or alleged omission to state a material fact relates to
     information supplied by such Indemnitor or by such Indemnitee, and the
     parties' relative intent, knowledge, access to information and opportunity
     to correct or prevent such statement or omission. The parties hereto agree
     that it would not be just and equitable if contribution pursuant to this
     Section 4.4 were determined solely by pro rata allocation (even if E-Z-EM
     or any underwriters, selling agents or placement agents or all of them were
     treated as one entity for such purpose) or by any other method of
     allocation which does not take account of the equitable considerations
     referred to in this Section 4.4. The amount paid or payable by an
     Indemnitee as a result of the losses, claims, damages or liabilities (or
     actions in respect thereof) referred to above shall be deemed to include
     any legal or other fees or expenses reasonably incurred by such Indemnitee
     in connection with investigating or defending any such action or claim. No
     Person guilty of fraudulent misrepresentation (within the meaning of
     Section 11(f) of the Securities Act) shall be entitled to contribution from
     any Person who was not guilty of such fraudulent misrepresentation. The
     obligations of E-Z-EM, the Company and any underwriters, selling agents or
     placement agents in this Section 4.4. to contribute shall be several in
     proportion to the number of Applicable Securities registered or
     underwritten or sold, as the case may be, by them and not joint.
     Notwithstanding any other provision of this Section 4.4, E-Z-EM shall not
     be required to contribute any amount in excess of the amount by which the
     net proceeds received by E-Z-EM from the sale of Common Stock pursuant to a
     Registration Statement or Offering Memorandum exceeds the amount of damages
     which E-Z-EM has otherwise been required to pay by reason of such untrue or
     alleged untrue statement or omission or alleged omission.

4.5  Other Provisions.

     (a)  The obligations of the Company under this ARTICLE 4 shall be in
          addition to any liability that it may otherwise have and shall extend,
          upon the same terms and conditions, to each Indemnified Person; and
          the obligations of E-Z-EM and any agents or underwriters contemplated
          by this ARTICLE 4 shall be in addition to any liability that E-Z-EM or
          its respective agent or underwriter may otherwise have and shall
          extend, upon the same terms and conditions, to each officer and
          director of the Company and to each Person, if any, who controls the
          Company within the meaning of either Section 15 of the Securities Act
          or Section 20 of the Exchange Act.

     (b)  The indemnities set forth in this ARTICLE 4 or made pursuant to this
          ARTICLE 4 shall remain in full force and effect, regardless of any
          investigation

                                       16

<PAGE>

          (or any statement as to the results thereof) made by or on behalf of
          E-Z-EM, any director, officer or partner of E-Z-EM, any agent or
          underwriter, any director, officer or partner of such agent or
          underwriter, or any Affiliate of any of the foregoing, and shall
          survive the registration, offering and sale of the Applicable
          Securities.

                                    ARTICLE 5

                               AUDITING PRACTICES

For so long as E-Z-EM is required or permitted in accordance with U.S. generally
accepted accounting principles to consolidate the Company's results of
operations and financial position in E-Z-EM's financial statements, the parties
agree as follows:

5.1  Selection of Auditors. Subject to requirements of law, the Company shall
     select the same firm as is selected by E-Z-EM to serve as the Company's
     (and its Subsidiaries', if any) independent certified public accountants
     (the "Company Auditors") for purposes of providing an opinion or report on
     its financial statements, unless E-Z-EM's shall provide a prior written
     consent to a change in the Company Auditors.

5.2  Date of Auditors' Opinion and Quarterly Reviews. The Company shall use its
     reasonable best efforts to enable the Company Auditors to complete their
     audit such that they will date their opinion or report on the Company's
     audited annual financial statements on the same date that E-Z-EM's
     independent certified public accountants (the "E-Z-EM Auditors") date their
     opinion on E-Z-EM's audited annual financial statements, and to enable
     E-Z-EM to meet its timetable for the printing, filing and public
     dissemination of E-Z-EM's annual financial statements. The Company shall
     use its reasonable best efforts to enable the Company Auditors to complete
     their quarterly review procedures on the Company's quarterly financial
     statements on the same date that the E-Z-EM Auditors complete their
     quarterly review procedures on E-Z-EM's quarterly financial statements.

5.3  Annual and Quarterly Financial Statements. The Company shall provide to
     E-Z-EM on a timely basis all information that E-Z-EM reasonably requires to
     meet its schedule for the preparation, printing, filing, and public
     dissemination of E-Z-EM's annual and quarterly financial statements.
     Without limiting the generality of the foregoing, the Company will provide
     all required financial information with respect to the Company and its
     Subsidiaries, if any, to the E-Z-EM Auditors in a sufficient and reasonable
     time and in sufficient detail to permit the Company Auditors to take all
     steps and perform all reviews necessary to provide sufficient assistance to
     the E-Z-EM Auditors with respect to financial information to be included or
     contained in E-Z-EM's annual and quarterly financial statements.

5.4  Identity of Personnel Performing the Annual Audit and Quarterly Reviews.
     The Company shall authorize the Company Auditors to make available to the
     E-Z-EM Auditors both the personnel who performed or will perform the annual
     audits and quarterly reviews of the Company's financial statements and work
     papers and other underlying documents related to the annual audits and
     quarterly reviews of the Company's financial statements, in all cases
     within a reasonable time prior to the Company Auditors' opinion date, so
     that the Company Auditors are able to assure the

                                       17

<PAGE>

     coordination of their activities with those of the E-Z-EM Auditors in order
     to achieve a proper review of matters affecting the consolidating or
     combining of accounts in E-Z-EM's financial statements, all within
     sufficient time to enable E-Z-EM to meet its timetable for the printing,
     filing and public dissemination of E-Z-EM's annual and quarterly
     statements.

5.5  Access to Books and Records. The Company shall provide E-Z-EM's internal
     auditors and their designees access to the Company's and its Subsidiaries'
     (if any) books and records so that E-Z-EM may conduct reasonable audits
     relating to the financial statements provided by the Company pursuant
     hereto as well as to the internal accounting controls and operations of the
     Company and such Subsidiaries. The Company shall also provide to E-Z-EM
     copies of all periodic reports and related documents the Company intends to
     file with the Securities and Exchange Commission prior to the Company
     causing such filings (as well as final copies upon filing).

5.6  No Change in Accounting Principles or Policies. The Company will not change
     its significant accounting policies for periods in which its financial
     results are included in E-Z-EM's consolidated financial statements unless
     the Company is required to do so to comply, in all material respects, with
     generally accepted accounting principles or SEC requirements from those in
     effect on the Payment Date (as defined in the Separation Agreement). In the
     event of any such change, the Company will consult with E-Z-EM and, if
     requested by E-Z-EM, the E-Z-EM Auditors with respect thereto.

5.7  Press Releases. The Company agrees to consult with E-Z-EM regarding the
     timing and content of its earnings releases.

                                    ARTICLE 6

                         OTHER COVENANTS OF THE PARTIES

6.1  No Discrimination. The Company hereby covenants and agrees that, for so
     long as the E-Z-EM Entities own at least 50% of the outstanding shares of
     Common Stock, the Company shall not, without the prior written consent of
     E-Z-EM (which it may withhold in its sole discretion), take, or cause to be
     taken, directly or indirectly, any action, including making or failing to
     make any election under the law of any state, which has the effect,
     directly or indirectly, of restricting or limiting the ability of E-Z-EM to
     freely sell, transfer, assign, pledge or otherwise dispose of Equity
     Securities or would restrict or limit the rights of any transferee of
     E-Z-EM as a holder of Equity Securities. Without limiting the generality of
     the foregoing, the Company shall not, without the prior written consent of
     E-Z-EM (which it may withhold in its sole discretion), (i) adopt or
     thereafter amend, supplement, restate, modify or alter any stockholder
     rights plan in any manner that would result in (a) the ownership of Equity
     Securities by E-Z-EM causing the rights thereunder to detach or become
     exercisable and/or (b) E-Z-EM and its transferees not being entitled to the
     same rights thereunder as other holders of the applicable Equity Securities
     or (ii) take any action, or take any action to recommend to its
     stockholders any action, which would among other things, limit the legal
     rights of, or deny any benefit to, E-Z-EM as a stockholder of the Company
     in a manner not applicable to the Company's stockholders generally without
     regard to the number of shares of Common Stock held by such stockholders.

                                       18

<PAGE>

6.2  Limitations on Subsequent Registration Rights. The Company shall not enter
     into any agreement with any holder or prospective holder of any Equity
     Securities of the Company that would allow such holder or prospective
     holder to include such Equity Securities in any Registration Station filed
     pursuant to Section 2.1 hereof, unless, under the terms of such agreement,
     such holder or prospective holder may include such Equity Securities in any
     such Registration Statement only to the extent that their inclusion would
     not reduce the amount of the Applicable Securities of E-Z-EM included
     therein.

6.3  Voting by E-Z-EM. E-Z-EM agrees that it will not vote its Equity Securities
     in the Company, and agrees to use all commercially reasonable efforts to
     cause all of the E-Z-EM Entities and E-Z-EM's other Subsidiaries to not
     vote their respective Equity Securities in the Company, whether at meetings
     of stockholders or, if permitted after an amendment to the Company's
     organizational documents, by written consent, so as to cause the Company to
     fail to (i) meet the eligibility standards for listing securities under the
     NASD Rules and the rules and regulations promulgated by the Commission and,
     without limiting the foregoing, (ii) to the extent required under the NASD
     Rules and the rules and regulations promulgated by the Commission, (A) have
     a majority of its Board of Directors comprised of "independent directors"
     and (B) have at least one independent director who satisfies the criteria
     for a "financial expert".

6.4  Additional E-Z-EM Consent Right. During the two year period following the
     Payment Date (as defined in the Separation Agreement), if any action or
     agreement being considered by the Company would reasonably be expected to
     result in an Adverse Tax Result (as defined in Section 6.1.3 of the
     Separation Agreement), then the written consent of E-Z-EM shall be required
     prior to the Company taking such action or entering into such agreement.

                                    ARTICLE 7

                                  MISCELLANEOUS

7.1  Termination. The term of ARTICLE 2 and ARTICLE 3 shall extend from the date
     hereof to the first date on which either (i) E-Z-EM and the other E-Z-EM
     Entities cease to hold in the aggregate at least 5% of Company's
     outstanding equity and voting power on a Fully Diluted Basis, excluding any
     securities acquired by them after the date hereof other than those acquired
     under ARTICLE 1 hereof or securities acquired as proceeds of the shares of
     common stock held by E-Z-EM and the other E-Z-EM Entities on the date
     hereof, or (ii) E-Z-EM and the other E-Z-EM Entities are permitted under
     Rule 144 under the Securities Act to sell all of their (collective) Equity
     Securities in the Company during one three-month period. The terms of
     ARTICLE 5 shall terminate at such time as E-Z-EM shall not be permitted to
     consolidate the Company within its financial statements in accordance with
     generally accepted accounting principles. This Agreement may not be
     terminated prior to such date without the consent of the parties hereto.

7.2  Specific Performance and Other Equitable Rights. Each of the parties hereto
     recognizes and acknowledges that a breach by a party or by any assignee
     thereof of any covenants or other commitments contained in this Agreement
     will cause the other party to sustain injury for which it would not have an
     adequate remedy at law for money damages. Therefore, each of the parties
     hereto agrees that in the event of any such breach,

                                       19

<PAGE>

     the aggrieved party shall be entitled to the remedy of injunctive and other
     equitable relief in addition to any other remedy to which it may be
     entitled, at law or in equity, and the parties hereto further agree to
     waive any requirement for the securing or posting of any bond in connection
     with the obtaining of any such injunctive or other equitable relief.

7.3  Assignment. No party to this Agreement may assign this Agreement, nor any
     of its rights or obligations under this Agreement, without the prior
     written consent of the other parties hereto, and any such purported
     assignment shall be null and void, except that the rights and obligations
     of E-Z-EM under this Agreement may be assigned by E-Z-EM without the
     consent of the Company to an E-Z-EM Entity. For greater certainty, the
     rights granted under ARTICLE 2 and ARTICLE 3 are not transferred upon the
     sale of the equity securities, but are separate contractual rights
     transferable to E-Z-EM Entities only, and only when the applicable E-Z-EM
     Entity receives Equity Securities in the Company.

7.4  Further Assurances. Each party shall provide (at the expense of the
     requesting party) such further documents or instruments reasonably
     requested by any other party as may be necessary or desirable to effect the
     purpose and intention of this Agreement and carry out its provisions.

7.5  Notices. All notices, requests, claims, demands and other communications
     hereunder shall be given in accordance with Section 7.4 of the Separation
     Agreement, except as otherwise expressly provided in this Agreement.

7.6  Reclassification, Reorganization, Merger, Etc. The rights and restrictions
     contained in this Agreement with respect to the Company's Common Stock
     apply to all of such Common Stock held on the date hereof by E-Z-EM and any
     Common Stock acquired in the future by any E-Z-EM Entity as proceeds of an
     exchange, reclassification, reorganization, stock split, dividend or any
     other change in the Company's capital structure.

7.7  Waivers and Amendments; Non-Contractual Remedies; Preservation of Remedies.
     This Agreement may be amended, superseded, cancelled, renewed or extended,
     and the terms hereof may be waived only by a written instrument signed by
     the parties or in the case of a waiver, by the party waiving compliance. No
     delay on the part of any party in exercising any right, power or privilege
     hereunder shall operate as a waiver thereof except as expressly provided
     herein. No waiver on the part of any party of any right, power or
     privilege, nor any single or partial exercise of any such right, power or
     privilege, shall preclude any further exercise thereof or the exercise of
     any other such right, power or privilege. The rights and remedies herein
     provided are cumulative and are not exclusive of any rights or remedies
     that any party may otherwise have at law or in equity.

7.8  Governing Law; Consent to Jurisdiction. This Agreement shall be governed by
     and construed in accordance with the laws of the State of New York (without
     giving effect to any conflict of laws principles). The parties hereto
     unconditionally and irrevocably agree and consent to the exclusive
     jurisdiction of the United States District Court and the courts of the
     State of New York located in the County of New York, State of New York, and
     waive any objection with respect thereto, for the purpose of any action,
     suit or proceeding arising out of or relating to this Agreement or the
     transactions contemplated hereby and further agree not to commence any such
     action, suit or proceeding except in any such court. Each party irrevocably
     waives any objections or immunities to jurisdiction to

                                       20

<PAGE>

     which it may otherwise be entitled or become entitled (including sovereign
     immunity, immunity to pre-judgment attachment, post-judgment attachment and
     execution) in any legal suit, action or proceeding against it arising out
     of or relating to this Agreement or the transactions contemplated hereby
     which is instituted in any such court.

7.9  No Third Party Beneficiaries; Binding Effect. Except for Indemnified
     Persons (who are intended third party beneficiaries of this Agreement) and
     as otherwise expressly provided herein, there shall be no third party
     beneficiaries hereto. all the terms and provisions of this Agreement shall
     be binding upon, shall inure to the benefit of and shall be enforceable by
     the respective legal successors and permitted assigns of the parties
     hereto.

7.10 Counterparts. This Agreement may be executed by the parties in separate
     counterparts, each of which when so executed and delivered shall be an
     original, but all such counterparts shall together constitute one and the
     same instrument. Each counterpart may consist of a number of copies hereof
     each signed by less than all, but together signed by all of the parties.

7.11 Headings. The headings in the Agreement are for reference only, and shall
     not affect the interpretation of this Agreement.

7.12 Severability. It is the intention of the parties that if any portion of
     this Agreement shall be deemed unenforceable, the remaining portions shall
     be valid and enforceable.

7.13 Time of Essence. Time is of the essence for each and every provision of
     this Agreement.

                                    ARTICLE 8

                                   DEFINITIONS

8.1  Definitions. Any capitalized terms that are used in this Agreement but not
     defined herein shall have the meanings set forth in the Separation
     Agreement, and, as used herein, the following terms shall have the
     following meanings:

     (a)  "Affiliate" or "Affiliates" has the meaning set forth in the
          Separation Agreement.

     (b)  "Applicable Securities" means in relation to a Registration Statement
          the Common Stock identified in the related Demand Notice or Piggy-back
          Notice and, in relation to an Offering Memorandum, the Common Stock
          identified in the related Unregistered Demand Notice.

     (c)  "Business Day" means any day other than a Saturday, a Sunday or a day
          on which banking institutions located in the State of New York are
          authorized or obligated by law or executive order to close.

     (d)  "Code" means the Internal Revenue Code of 1986.

     (e)  "Commission" means the Securities and Exchange Commission.

     (f)  "Distribution" has the meaning set forth in the Separation Agreement.

                                       21

<PAGE>

     (g)  "E-Z-EM Entities" means, collectively, every entity that is (i) a
          wholly-owned Subsidiary of E-Z-EM (other than the Company and its
          Subsidiaries, if any), (ii) an entity owning all of the capital stock
          of E-Z-EM or (iii) a wholly-owned Subsidiary of an entity owning all
          of the capital stock of E-Z-EM (other than the Company and its
          Subsidiaries, if any). "E-Z-EM Entity" refers to any one of the
          foregoing.

     (h)  "Equity Securities" means all classes of equity securities of the
          Company, and any options or other instruments or securities issued by
          the Company or any other Person that are exercisable for, convertible
          into or exchangeable for the Company's equity securities.

     (i)  "Exchange Act" means the Securities Exchange Act of 1934, as amended.

     (j)  "Fully Diluted Basis" means the number of shares of all classes of
          equity securities of the Company that would be outstanding assuming
          the exercise, conversion or exchange of all outstanding options and
          securities exercisable for, convertible into or exchangeable for the
          Company's equity securities.

     (k)  "Indemnified Person" has the meaning set forth in Section 4.1 hereof.

     (l)  "NASD Rules" means the rules and regulations promulgated by the
          National Association of Securities Dealers, Inc. and its affiliated
          companies, as well as any other rules and regulations governing
          Nasdaq. For purposes of this definition, "Nasdaq" means the Nasdaq
          Stock Market, except that with respect to the Company's remaining in
          compliance with listing standards, "Nasdaq" means the Nasdaq National
          Market.

     (m)  "Person" means and includes natural persons, corporations, limited
          partnerships, LLCs, general partnerships, joint stock companies, joint
          ventures, associations, companies, trusts or other organizations,
          whether or not legal entities, and governments and agencies and
          political subdivisions thereof.

     (n)  "Prospectus" means the prospectus (including, without limitation, any
          preliminary prospectus, any final prospectus and any prospectus that
          discloses information previously omitted from a prospectus filed as
          part of an effective Registration Statement in reliance upon Rule 430A
          under the Securities Act or any successor rule thereto) included in a
          Registration Statement, as amended or supplemented by any prospectus
          supplement with respect to the terms of the offering of any portion of
          the Applicable Securities covered by a Registration Statement and by
          all other amendments and supplements to such prospectus, including all
          material incorporated by reference in such prospectus and all
          documents filed after the date of such prospectus by the Company under
          the Exchange Act and incorporated by reference therein.

     (o)  "Registration" means a registration under the Securities Act effected
          pursuant to Section 2.1 or Section 2.2.

     (p)  "Registration Expenses" means all expenses incident to the
          Registration of Common Stock pursuant to this Agreement, including,
          without limitation,

                                       22

<PAGE>

          National Association of Securities Dealers, Inc. fees, all fees and
          expenses of complying with securities or blue sky laws, all word
          processing, duplicating and printing expenses, messenger and delivery
          expenses, the fees and disbursements of counsel for the Company and of
          its independent public accountants, including the expenses of any
          special audits or "comfort" letters required by or incident to such
          performance and compliance, premiums and other costs of policies of
          insurance obtained by the Company against liabilities arising out of
          the public offering of Common Stock being registered, but excluding
          fees and disbursements of counsel retained by E-Z-EM, premiums and
          other costs of policies of insurance obtained by E-Z-EM or its agents
          or underwriter against liabilities arising out of the public offering
          of the Common Stock being registered, all underwriting discounts and
          commissions and transfer taxes, if any, and registration and filing
          fees relating to the Common Stock being registered.

     (q)  "Registration Statement" means a registration statement filed under
          the Securities Act by the Company pursuant to the provisions of
          Section 2.1 or Section 2.2, including the Prospectus contained
          therein, any amendments and supplements to such registration
          statement, including post-effective amendments, all exhibits and all
          material incorporated by reference in such registration statement.

     (r)  "Securities Act" means the Securities Act of 1933, as amended.

     (s)  "Separation Agreement" means that certain Master Separation and
          Distribution Agreement dated the date hereof by and between E-Z-EM and
          the Company.

     (t)  "Subsidiary" means any corporation, association partnership, limited
          partnership, limited liability partnership, limited liability company,
          business trust or other business entity of which 50% or more of the
          total voting power of shares of stock entitled to vote in the election
          of directors, managers or trustees thereof is at the time owned or
          controlled, directly or indirectly, by the Company or one or more of
          the other Subsidiaries of the Company or a combination thereof.

8.2  Construction of Defined Terms Generally. In the event of a conflict between
     any provision of this Agreement and the Separation Agreement, the terms of
     the Separation Agreement shall govern. Any reference in this Agreement to
     another agreement or instrument shall be deemed to include such agreement
     or instrument as it may be amended, modified, restated and/or supplemented
     from time to time. References in this Agreement to any legislation
     (including for purposes of (i) below rules and regulations) shall be deemed
     to include, unless the context indicates to the contrary, (i) any
     amendments or supplemental or substitute legislation from time to time, and
     (ii) any "rules or regulations" promulgated under such legislation.
     References to the plural shall also be deemed to be a reference to the
     singular, and vice-versa, as the context may dictate.

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                                       23

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed on the date first above written.

     ANGIODYNAMICS, INC.

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

     E-Z-EM, INC.

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

                                       24

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