Document:

Lease Agreement

 Exhibit 10.43 
  

 LEASE AGREEMENT 
 LIBERTY PROPERTY LIMITED PARTNERSHIP 
 Landlord 
 AND 
 VIRTUAL RADIOLOGIC CORPORATION

 Tenant 
 AT 

 SHADY OAK BUSINESS CENTER C 
 Suite B, 10333 West 70th Street 
 Eden Prairie, MN 55344 
  

 LEASE AGREEMENT 
 INDEX 
  

			
	 § Section
	  	Page
	 1. Basic Lease Terms and Definitions
	  	2
	 2. Premises
	  	3
	 3. Use
	  	3
	 4. Term; Possession
	  	3
	 5. Rent
	  	3
	 6. Operating Expenses
	  	3
	 7. Utilities
	  	3
	 8. Insurance; Waivers; Indemnification
	  	4
	 9. Maintenance and Repairs
	  	4
	 10. Compliance
	  	5
	 11. Signs
	  	5
	 12. Alterations
	  	5
	 13. Mechanics’ Liens
	  	6
	 14. Landlord’s Right of Entry
	  	6
	 15. Damage by Fire or Other Casualty
	  	6
	 16. Condemnation
	  	6
	 17. Quiet Enjoyment
	  	6
	 18. Assignment and Subletting
	  	7
	 19. Subordination; Mortgagee’s Rights
	  	7
	 20. Tenant’s Certificate; Financial Information
	  	7
	 21. Surrender
	  	8
	 22. Defaults - Remedies
	  	8
	 23. Tenant’s Authority
	  	9
	 24. Liability of Landlord
	  	9
	 25. Miscellaneous
	  	9
	 26. Notices
	  	10
	 27. Security Deposit
	  	10
	 28. Automatic Funds Transfer
	  	10
	 29. Early Access
	  	10
	 30. Parking
	  	10

 Additional Provisions: 
  

 i 

 THIS LEASE AGREEMENT is made by and between LIBERTY PROPERTY LIMITED PARTNERSHIP, a
Pennsylvania limited partnership (“Landlord”) and VIRTUAL RADIOLOGIC CORPORATION, a corporation organized under the laws of Delaware (“Tenant”), and is dated as of the date on which this Lease has been fully executed by
Landlord and Tenant. 
 1. Basic Lease Terms and Definitions. 
 (a) Premises: Approximately 10,842 rentable square feet to be known as Suite “B” in Shady Oak Business Center C, as shown on Exhibit “A” 
 (b) Building: “Building” means the 7-building business campus commonly known as the Shady Oak Business Center and consisting of
approximately 304,073 total rentable square feet, as follows: 
  

			
	Shady Oak Business Center A	  	10301-10305 70th Street
		  	Eden Prairie, MN 55344
		
	Shady Oak Business Center B	  	10321 West 70th Street
		  	Eden Prairie, MN 55344
		
	Shady Oak Business Center C	  	10333 West 70th Street
		  	Eden Prairie, MN 55344
		
	Shady Oak Business Center D	  	10349-10357 West 70th Street
		  	Eden Prairie, MN 55344
		
	Shady Oak Business Center E	  	10365-10375 West 70th Street
		  	Eden Prairie, MN 55344
		
	Shady Oak Business Center F	  	10391-10399 West 70th Street
		  	Eden Prairie, MN 55344
		
	Shady Oak Business Center G	  	7078 Shady Oak Road
		  	Eden Prairie, MN 55344

 (c) Term: 16 months (plus any partial month from the Commencement Date until the first day
of the next full calendar month during the Term). 
 (d) Commencement Date: December 1, 2006, or the date Tenant takes possession
of the Premises, if earlier. 
 (e) Expiration Date: March 31, 2008 
 (f) Minimum Annual Rent: $92,157.00, payable in monthly installments of $7,679.75. 
 (g) Annual Operating Expenses: $40,332.24, payable in monthly installments of $3,361.02, subject to adjustment as provided in this Lease.

 (h) Tenant’s Share: 3.57% (also see Definitions) 
 (i) Use: General office 
 (j)
Security Deposit: $11,000.00 
 (k) Addresses For Notices: 
  

							
	Landlord:	  	Liberty Property Limited Partnership	  	Tenant:	  	5995 Opus Parkway
		  	10400 Viking Drive, Suite 130	  		  	Suite 200
		  	Eden Prairie, MN 55344	  		  	Minnetonka, MN 55343
		  	Attn: Vice President/City Manager	  		  	Attn: Jamison Young

  

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 (l) Guarantor: N/A 
 (m) Additional Defined Terms: See Rider 1 for the definitions of other capitalized terms. 
 (n) Contents: The following are attached to and made a part of this Lease: 
  

					
	Rider 1 - Additional Definitions	  	Exhibits:	  	“A” – Plan showing Premises
		  		  	“B” – Building Rules
		  		  	“C” – Estoppel Certificate Form

 2. Premises. Landlord leases to Tenant and Tenant leases from Landlord the Premises,
together with the right in common with others to use the Common Areas. Tenant accepts the Premises, Building and Common Areas “AS IS”, without relying on any representation, covenant or warranty by Landlord other than as expressly set
forth in this Lease. Landlord and Tenant stipulate and agree to the rentable square footage set forth in Section l(a) above without regard to actual measurement. 
 3. Use. Tenant shall occupy and use the Premises only for the Use specified in Section 1 above. Tenant shall not permit any conduct or condition which may endanger, disturb or otherwise interfere
with any other Building occupant’s normal operations or with the management of the Building. Tenant shall not use or permit the use of any portion of the Property for outdoor storage or installations outside of the Premises. Tenant may use all
Common Areas only for their intended purposes. Landlord shall have exclusive control of all Common Areas at all times. 
 4. Term;
Possession. The Term of this Lease shall commence on the Commencement Date and shall end on the Expiration Date, unless sooner terminated in accordance with this Lease. If Landlord is delayed in delivering possession of all or any portion of
the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (but the Expiration Date will not be extended). Landlord shall not be liable
for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. 
 5. Rent. Tenant agrees to pay to Landlord, without demand, deduction or offset, Minimum Annual Rent and Annual Operating Expenses for the
Term. Tenant shall pay the Monthly Rent, in advance, on the first day of each calendar month during the Term, at Landlord’s address designated in Section 1 above unless Landlord designates otherwise; provided that Monthly Rent for the
first full month shall be paid at the signing of this Lease. If the Commencement Date is not the first day of the month, the Monthly Rent for that partial month shall be apportioned on a per diem basis and shall be paid on or before the Commencement
Date. Tenant shall pay Landlord a service and handling charge equal to 5% of any Rent not paid within 5 days after the date due. In addition, any Rent, including such charge, not paid within 5 days after the due date will bear interest at the
Interest Rate from the date due to the date paid. If any taxes, special assessments, fees or other charges are imposed against Landlord by any authority with respect to the Rent, Tenant will pay these amounts to Landlord when due. 
 6. Operating Expenses. The amount of the Annual Operating Expenses set forth in Section l(g) above represents Tenant’s Share of the
estimated Operating Expenses for the calendar year in which the Term commences. Landlord may adjust such amount from time to time if the estimated Annual Operating Expenses increase or decrease; Landlord may also invoice Tenant separately from time
to time for Tenant’s Share of any extraordinary or unanticipated Operating Expenses. By April 30th of each year
(and as soon as practical after the expiration or termination of this Lease or, at Landlord’s option, after a sale of the Property), Landlord shall provide Tenant with a statement of Operating Expenses for the preceding calendar year or part
thereof. Within 30 days after delivery of the statement to Tenant, Landlord or Tenant shall pay to the other the amount of any overpayment or deficiency then due from one to the other or, at Landlord’s option, Landlord may credit Tenant’s
account for any overpayment. If Tenant does not give Landlord notice within 30 days after receiving Landlord’s statement that Tenant disagrees with the statement and specifying the items and amounts in dispute, Tenant shall be deemed to have
waived the right to contest the statement. Landlord’s and Tenant’s obligation to pay any overpayment or deficiency due the other pursuant to this Section shall survive the expiration or termination of this Lease. Notwithstanding any other
provision of this Lease to the contrary, Landlord may, in its reasonable discretion, determine from time to time the method of computing and allocating Operating Expenses, including the method of allocating Operating Expenses to various types of
space within the Building to reflect any disparate levels of services provided to different types of space. If the Building is not fully occupied during any period, Landlord may make a reasonable adjustment based on occupancy in computing the
Operating Expenses for such period so that Operating Expenses are computed as though the Building had been fully occupied. If Landlord should ever elect to treat any of the buildings in the 7-building campus independently for purposes of Operating
Expenses, whether because of a sale of a portion of the campus or otherwise, Tenant’s Share shall be appropriately adjusted to reflect the percentage obtained by dividing the rentable square feet of the Premises by the rentable square feet of
the building or buildings that include the Premises. 
 7. Utilities. Tenant shall pay for water, sewer, gas, electricity,
heat, power, telephone and other communication services and any other utilities supplied to the Premises. Except to the extent Landlord elects to provide any such services and invoice 
  

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Tenant for the cost or include the cost in Operating Expenses, Tenant shall obtain service in its own name and timely pay all charges directly to the
provider. Landlord shall not be responsible or liable for any interruption in such services, nor shall such interruption affect the continuation or validity of this Lease. Landlord shall have the exclusive right to select, and to change, the
companies providing such services to the Building or Premises. Any wiring, cabling or other equipment necessary to connect Tenant’s telecommunications equipment shall be Tenant’s responsibility, and shall be installed in a manner approved
by Landlord. In the event Tenant’s consumption of any utility or other service included in Operating Expenses is excessive when compared with other occupants of the Property, Landlord may invoice Tenant separately for, and Tenant shall pay on
demand, the cost of Tenant’s excessive consumption, as reasonably determined by Landlord. Accompanying any invoice for excessive consumption, Landlord will provide a reasonably detailed written analysis comparing Tenant’s consumption of
relevant utilities to that of other occupants of the Property. 
 8. Insurance; Waivers; Indemnification. 
 (a) Landlord shall maintain insurance against loss or damage to the Building or the Property with coverage for perils as set forth under the
“Causes of Loss-Special Form” or equivalent property insurance policy in an amount equal to the full insurable replacement cost of the Building (excluding coverage of Tenant’s personal property and any Alterations by Tenant), and such
other insurance, including rent loss coverage, as Landlord may reasonably deem appropriate or as any Mortgagee may require. 
 (b)
Tenant, at its expense, shall keep in effect commercial general liability insurance, including blanket contractual liability insurance, covering Tenant’s use of the Property, with such coverages and limits of liability as Landlord may
reasonably require, but not less than a $1,000,000 combined single limit with a $5,000,000 general aggregate limit (which general aggregate limit may be satisfied by an umbrella liability policy) for bodily injury or property damage; however, such
limits shall not limit Tenant’s liability hereunder. The policy shall name Landlord, Liberty Property Trust and any other associated or affiliated entity as their interests may appear and at Landlord’s request, any Mortgagee(s), as
additional insureds, shall be written on an “occurrence” basis and not on a “claims made” basis and shall be endorsed to provide that it is primary to and not contributory to any policies carried by Landlord and to provide that
it shall not be cancelable or reduced without at least 30 days prior notice to Landlord. The insurer shall be authorized to issue such insurance, licensed to do business and admitted in the state in which the Property is located and rated at least A
VII in the most current edition of Best’s Insurance Reports. Tenant shall deliver to Landlord on or before the Commencement Date or any earlier date on which Tenant accesses the Premises, and at least 30 days prior to the date of each
policy renewal, a certificate of insurance evidencing such coverage. 
 (c) Landlord and Tenant each waive, and release each other
from and against, all claims for recovery against the other for any loss or damage to the property of such party arising out of fire or other casualty coverable by a standard “Causes of Loss-Special Form” property insurance policy with, in
the case of Tenant, such endorsements and additional coverages as are considered good business practice in Tenant’s business, even if such loss or damage shall be brought about by the fault or negligence of the other party or its Agents;
provided, however, such waiver by Landlord shall not be effective with respect to Tenant’s liability described in Sections 9(b) and 10(d) below. This waiver and release is effective regardless of whether the releasing party actually maintains
the insurance described above in this subsection and is not limited to the amount of insurance actually carried, or to the actual proceeds received after a loss. Each party shall have its insurance company that issues its property coverage waive any
rights of subrogation, and shall have the insurance company include an endorsement acknowledging this waiver, if necessary. Tenant assumes all risk of damage of Tenant’s property within the Property, including any loss or damage caused by water
leakage, fire, windstorm, explosion, theft, act of any other tenant, or other cause. 
 (d) Tenant shall not be permitted to satisfy
any of its insurance obligations set forth in this Lease through any self- insurance or self-insured retention in excess of $25,000. 
 (e) Subject to subsection (c) above, and except to the extent caused by the negligence or willful misconduct of Landlord or its Agents, Tenant will indemnify, defend, and hold harmless Landlord and its Agents from and against
any and all claims, actions, damages, liability and expense (including fees of attorneys, investigators and experts) which may be asserted against, imposed upon, or incurred by Landlord or its Agents and arising out of or in connection with loss of
life, personal injury or damage to property in or about the Premises or arising out of the occupancy or use of the Property by Tenant or its Agents or occasioned wholly or in part by any act or omission of Tenant or its Agents, whether prior to,
during or after the Term. Tenant’s obligations pursuant to this subsection shall survive the expiration or termination of this Lease. 
 9.
Maintenance and Repairs. 
 (a) Landlord shall Maintain the: (i) Building footings, foundations, structural steel
columns and girders at Landlord’s sole expense; (ii) Building roof and exterior walls; (iii) Building Systems; and (iv) Common Areas. Costs incurred by Landlord under the foregoing subsections (ii), (iii) and (iv) will
be included in Operating Expenses, provided that to the extent 

  

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any heating, ventilation and air conditioning system, or other Building System, equipment or fixture exclusively serves the Premises, Landlord may elect
either to Maintain the same at Tenant’s sole expense and bill Tenant .directly or by notice to Tenant require Tenant to Maintain the same at Tenant’s expense. If Tenant becomes aware of any condition that is Landlord’s responsibility
to repair, Tenant shall promptly notify Landlord of the condition. 
 (b) Except as provided in subsection (a) above, Tenant at
its sole expense shall Maintain the Premises and all fixtures and equipment in the Premises. All repairs and replacements by Tenant shall utilize materials and equipment which are comparable to those originally used in constructing the Building and
Premises. Alterations, repairs and replacements to the Property, including the Premises, made necessary because of Tenant’s Alterations or installations, any use or circumstances special or particular to Tenant, or any act or omission of Tenant
or its Agents shall be made by Landlord or Tenant as set forth above, but at the sole expense of Tenant to the extent not covered by any applicable insurance proceeds paid to Landlord. 
 10. Compliance. 
 (a) Tenant will, at its expense, promptly comply with all Laws now or
subsequently pertaining to the Premises or Tenant’s use or occupancy. Tenant will pay any taxes or other charges by any authority on Tenant’s property or trade fixtures or relating to Tenant’s use of the Premises. Neither Tenant nor
its Agents shall use the Premises in any manner that under any Law would require Landlord to make any Alteration to or in the Building or Common Areas (without limiting the foregoing, Tenant shall not use the Premises in any manner that would cause
the Premises or the Property to be deemed a “place of public accommodation” under the ADA if such use would require any such Alteration). Tenant shall be responsible for compliance with the ADA, and any other Laws regarding accessibility,
with respect to the Premises. 
 (b) Tenant will comply, and will cause its Agents to comply, with the Building Rules. 
 (c) Tenant agrees not to do anything or fail to do anything which will increase the cost of Landlord’s insurance or which will prevent
Landlord from procuring policies (including public liability) from companies and in a form satisfactory to Landlord. If any breach of the preceding sentence by Tenant causes the rate of fire or other insurance to be increased, Tenant shall pay the
amount of such increase as additional Rent within 30 days after being billed. 
 (d) Tenant agrees that (i) no activity will be
conducted on the Premises that will use or produce any Hazardous Materials, except for activities which are part of the ordinary course of Tenant’s business and are conducted in accordance with all Environmental Laws (“Permitted
Activities”); (ii) the Premises will not be used for storage of any Hazardous Materials, except for materials used in the Permitted Activities which are properly stored in a manner and location complying with all Environmental Laws;
(iii) no portion of the Premises or Property will be used by Tenant or Tenant’s Agents for disposal of Hazardous Materials; (iv) Tenant will deliver to Landlord copies of all Material Safety Data Sheets and other written information
prepared by manufacturers, importers or suppliers of any chemical; and (v) Tenant will immediately notify Landlord of any violation by Tenant or Tenant’s Agents of any Environmental Laws or the release or suspected release of Hazardous
Materials in, under or about the Premises, and Tenant shall immediately deliver to Landlord a copy of any notice, filing or permit sent or received by Tenant with respect to the foregoing. If at any time during or after the Term, any portion of the
Property is found to be contaminated by Tenant or Tenant’s Agents or subject to conditions prohibited in this Lease caused by Tenant or Tenant’s Agents, Tenant will indemnify, defend and hold Landlord harmless from all claims, demands,
actions, liabilities, costs, expenses, attorneys’ fees, damages and obligations of any nature arising from or as a result thereof, and Landlord shall have the right to direct remediation activities, all of which shall be performed at
Tenant’s cost. Tenant’s obligations pursuant to this subsection shall survive the expiration or termination of this Lease. 
 11.
Signs. Except as expressly permitted in this Section, Tenant shall not place any signs on the Property without the prior consent of Landlord, other than signs that are located wholly within the interior of the Premises and not visible
from the exterior of the Premises. Tenant may install one exterior identification sign on the main entrance door to the Premises. All Tenant signage shall be installed and maintained at Tenant’s sole cost and expense. The design, size and
location of Tenant’s signage shall be consistent with Landlord’s sign criteria and otherwise subject to Landlord’s approval, which approval shall not be unreasonably withheld. Tenant shall cause all Tenant signage to comply with all
Laws. Tenant shall maintain all signs installed by Tenant in good condition. Tenant shall remove its signs at the termination of this Lease, shall repair any resulting damage, and shall restore the Property to its condition existing prior to the
installation of Tenant’s signs. 
 12. Alterations. Except for non-structural Alterations that (i) do not exceed $5,000 in the
aggregate, (ii) are not visible from the exterior of the Premises, (iii) do not affect any Building System or the structural strength of the Building, (iv) do not require penetrations into the floor, ceiling or walls, and (v) do
not require work within the walls, below the floor or above the ceiling, Tenant shall not make or permit any Alterations in or to the Premises without first obtaining Landlord’s consent, which consent shall not be unreasonably withheld. With
respect to any Alterations made by or on behalf of Tenant (whether or not the Alteration requires Landlord’s consent): (i) not less than 10 days prior to commencing any Alteration, Tenant shall deliver to 

  

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Landlord the plans, specifications and necessary permits for the Alteration, together with certificates evidencing that Tenant’s contractors and
subcontractors have adequate insurance coverage naming Landlord, Liberty Property Trust and any other associated or affiliated entity as their interests may appear as additional insureds, (ii) Tenant shall obtain Landlord’s prior written
approval of any contractor or subcontractor, (iii) the Alteration shall be constructed with new materials, in a good and workmanlike manner, and in compliance with all Laws and the plans and specifications delivered to, and, if required above,
approved by Landlord, (iv) Tenant shall pay Landlord all reasonable costs and expenses in connection with Landlord’s review of Tenant’s plans and specifications, and of any supervision or inspection of the construction Landlord deems
necessary, and (v) upon Landlord’s request Tenant shall, prior to commencing any Alteration, provide Landlord reasonable security against liens arising out of such construction. Any Alteration by Tenant shall be the property of Tenant
until the expiration or termination of this Lease; at that time without payment by Landlord the Alteration shall remain on the Property and become the property of Landlord unless Landlord gives notice to Tenant to remove it, in which event Tenant
will remove it, will repair any resulting damage and will restore the Premises to the condition existing prior to Tenant’s Alteration. At Tenant’s request prior to Tenant making any Alterations, Landlord will notify Tenant whether Tenant
is required to remove the Alterations at the expiration or termination of this Lease. Tenant may install its trade fixtures, furniture and equipment in the Premises, provided that the installation and removal of them will not affect any structural
portion of the Property, any Building System or any other equipment or facilities serving the Building or any occupant. 
 13. Mechanics’
Liens. Tenant promptly shall pay for any labor, services, materials, supplies or equipment furnished to Tenant in or about the Premises. Tenant shall keep the Premises and the Property free from any liens arising out of any labor, services,
materials, supplies or equipment furnished or alleged to have been furnished to Tenant. Tenant shall take all steps permitted by law in order to avoid the imposition of any such lien. Should any such lien or notice of such lien be filed against the
Premises or the Property, Tenant shall discharge the same by bonding or otherwise within 15 days after Tenant has notice that the lien or claim is filed regardless of the validity of such lien or claim. 
 14. Landlord’s Right of Entry. Tenant shall permit Landlord and its Agents to enter the Premises at all reasonable times following reasonable notice
(except in an emergency) to inspect, Maintain, or make Alterations to the Premises or Property, to exhibit the Premises for the purpose of sale or financing, and, during the last 12 months of the Term, to exhibit the Premises to any prospective
tenant. Landlord will make reasonable efforts not to inconvenience Tenant in exercising such rights, but Landlord shall not be liable for any interference with Tenant’s occupancy resulting from Landlord’s entry. 
 15. Damage by Fire or Other Casualty. If the Premises or Common Areas shall be damaged or destroyed by fire or other casualty, Tenant shall promptly notify
Landlord, and Landlord, subject to the conditions set forth in this Section, shall repair such damage and restore the Premises or Common Areas to substantially the same condition in which they were immediately prior to such damage or destruction,
but not including the repair, restoration or replacement of the fixtures, equipment, or Alterations installed by or on behalf of Tenant. Landlord shall notify Tenant, within 30 days after the date of the casualty, if Landlord anticipates that the
restoration will take more than 180 days from the date of the casualty to complete; in such event, either Landlord or Tenant (unless the damage was caused by Tenant) may terminate this Lease effective as of the date of casualty by giving notice to
the other within 10 days after Landlord’s notice. If a casualty occurs during the last 12 months of the Term, Landlord may terminate this Lease unless Tenant has the right to extend the Term for at least 3 more years and does so within 30 days
after the date of the casualty. Moreover, Landlord may terminate this Lease if the loss is not covered by the insurance required to be maintained by Landlord under this Lease. Tenant will receive an abatement of Minimum Annual Rent and Annual
Operating Expenses to the extent the Premises are rendered untenantable as a result of the casualty. 
 16. Condemnation. If (a) all of
the Premises are Taken, (b) any part of the Premises is Taken and the remainder is insufficient in Landlord’s opinion for the reasonable operation of Tenant’s business, or (c) any of the Property is Taken, and, in Landlord’s
opinion, it would be impractical or the condemnation proceeds are insufficient to restore the remainder, then this Lease shall terminate as of the date the condemning authority takes possession. If this Lease is not terminated, Landlord shall
restore the Building to a condition as near as reasonably possible to the condition prior to the Taking, the Minimum Annual Rent shall be abated for the period of time all or a part of the Premises is untenantable in proportion to the square foot
area untenantable, and this Lease shall be amended appropriately. The compensation awarded for a Taking shall belong to Landlord. Except for any relocation benefits to which Tenant may be entitled, Tenant hereby assigns all claims against the
condemning authority to Landlord, including, but not limited to, any claim relating to Tenant’s leasehold estate. 
 17. Quiet Enjoyment.
Landlord covenants that Tenant, upon performing all of its covenants, agreements and conditions of this Lease, shall have quiet and peaceful possession of the Premises as against anyone claiming by or through Landlord, subject, however, to the terms
of this Lease. 
  

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 18. Assignment and Subletting. 
 (a) Except as provided in Section (b) below, Tenant shall not enter into nor permit any Transfer voluntarily or by operation of law, without
the prior consent of Landlord, which consent shall not be unreasonably withheld. Without limitation. Tenant agrees that Landlord’s consent shall not be considered unreasonably withheld if (i) the proposed transferee is an existing tenant
of Landlord or an affiliate of Landlord, (ii) the business, business reputation or creditworthiness of the proposed transferee is unacceptable to Landlord, (iii) Landlord or an affiliate of Landlord has comparable space available for lease
by the proposed transferee or (iv) Tenant is in default under this Lease or any act or omission has occurred which would constitute a default with the giving of notice and/or the passage of time. A consent to one Transfer shall not be deemed to
be a consent to any subsequent Transfer. In no event shall any Transfer relieve Tenant from any obligation under this Lease. Landlord’s acceptance of Rent from any person shall not be deemed to be a waiver by Landlord of any provision of this
Lease or to be a consent to any Transfer. Any Transfer not in conformity with this Section 18 shall be void at the option of Landlord. 
 (b) Landlord’s consent shall not be required in the event of any Transfer by Tenant to an Affiliate provided that (i) the Affiliate has a tangible net worth at least equal to that of Tenant as of the date of this Lease,
(ii) Tenant provides Landlord notice of the Transfer at least 15 days prior to the effective date, together with current financial statements of the Affiliate certified by an executive officer of the Affiliate, and (iii) in the case of an
assignment or sublease, Tenant delivers to Landlord an assumption agreement reasonably acceptable to Landlord executed by Tenant and the Affiliate, together with a certificate of insurance evidencing the Affiliate’s compliance with the
insurance requirements of Tenant under this Lease. 
 (c) The provisions of subsection (a) above notwithstanding, if Tenant
proposes to Transfer all of the Premises (other than to an Affiliate), Landlord may terminate this Lease, either conditioned on execution of a new lease between Landlord and the proposed transferee or without that condition. If Tenant proposes to
enter into a Transfer of less than all of the Premises (other than to an Affiliate), Landlord may amend this Lease to remove the portion of the Premises to be transferred, either conditioned on execution of a new lease between Landlord and the
proposed transferee or without that condition. If this Lease is not so terminated or amended, Tenant shall pay to Landlord, immediately upon receipt, the excess of (i) all compensation received by Tenant for the Transfer over (ii) the Rent
allocable to the Premises transferred. 
 (d) If Tenant requests Landlord’s consent to a Transfer, Tenant shall provide Landlord,
at least 15 days prior to the proposed Transfer, current financial statements of the transferee certified by an executive officer of the transferee, a complete copy of the proposed Transfer documents, and any other information Landlord reasonably
requests. Immediately following any approved assignment or sublease, Tenant shall deliver to Landlord an assumption agreement reasonably acceptable to Landlord executed by Tenant and the transferee, together with a certificate of insurance
evidencing the transferee’s compliance with the insurance requirements of Tenant under this Lease. Tenant agrees to reimburse Landlord for reasonable administrative and attorneys’ fees in connection with the processing and documentation of
any Transfer for which Landlord’s consent is requested. 
 19. Subordination; Mortgagee’s Rights. 
 (a) Tenant accepts this Lease subject and subordinate to any Mortgage now or in the future affecting the Premises, provided that Tenant’s
right of possession of the Premises shall not be disturbed by the Mortgagee so long as Tenant is not in default under this Lease. This clause shall be self-operative, but within 10 days after request, Tenant shall execute and deliver any further
instruments confirming the subordination of this Lease and any further instruments of attornment that the Mortgagee may reasonably request. However, any Mortgagee may at any time subordinate its Mortgage to this Lease, without Tenant’s consent,
by giving notice to Tenant, and this Lease shall then be deemed prior to such Mortgage without regard to their respective dates of execution and delivery; provided that such subordination shall not affect any Mortgagee’s rights with respect to
condemnation awards, casualty insurance proceeds, intervening liens or any right which shall arise between the recording of such Mortgage and the execution of this Lease. 
 (b) No Mortgagee shall be (i) liable for any act or omission of a prior landlord, (ii) subject to any rental offsets or defenses against a prior landlord, (iii) bound by any amendment of this
Lease made without its written consent, or (iv) bound by payment of Monthly Rent more than one month in advance or liable for any other funds paid by Tenant to Landlord unless such funds actually have been transferred to the Mortgagee by
Landlord. 
 (c) The provisions of Sections 15 and 16 above notwithstanding, Landlord’s obligation to restore the Premises after
a casualty or condemnation shall be subject to the consent and prior rights of any Mortgagee. 
 20. Tenant’s Certificate; Financial
Information. Within 10 days after Landlord’s request from time to time, (a) Tenant shall execute, acknowledge and deliver to Landlord, for the benefit of Landlord, Mortgagee, any prospective Mortgagee, and any prospective purchaser
of Landlord’s interest in the Property, an estoppel certificate in the form of attached Exhibit “C” (or other 

  

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form requested by Landlord), modified as necessary to accurately state the facts represented, and (b) Tenant shall furnish to Landlord, Landlord’s
Mortgagee, prospective Mortgagee and/or prospective purchaser reasonably requested financial information. 
 21. Surrender. 
 (a) On the date on which this Lease expires or terminates, Tenant shall return possession of the Premises to Landlord in good condition, except for
ordinary wear and tear, and except for casualty damage or other conditions that Tenant is not required to remedy under this Lease. Prior to the expiration or termination of this Lease, Tenant shall remove from the Property all furniture, trade
fixtures, equipment, wiring and cabling (unless Landlord directs Tenant otherwise), and all other personal property installed by Tenant or its assignees or subtenants. Tenant shall repair any damage resulting from such removal and shall restore the
Property to good order and condition. Any of Tenant’s personal property not removed as required shall be deemed abandoned, and Landlord, at Tenant’s expense, may remove, store, sell or otherwise dispose of such property in such manner as
Landlord may see fit and/or Landlord may retain such property or sale proceeds as its property. If Tenant does not return possession of the Premises to Landlord in the condition required under this Lease, Tenant shall pay Landlord all resulting
damages Landlord may suffer. 
 (b) If Tenant remains in possession of the Premises after the expiration or termination of this Lease,
Tenant’s occupancy of the Premises shall be that of a tenancy at will. Tenant’s occupancy during any holdover period shall otherwise be subject to the provisions of this Lease (unless clearly inapplicable), except that the Monthly Rent
shall be 150% of the Monthly Rent payable for the last full month immediately preceding the holdover. No holdover or payment by Tenant after the expiration or termination of this Lease shall operate to extend the Term or prevent Landlord from
immediate recovery of possession of the Premises by summary proceedings or otherwise. Any provision in this Lease to the contrary notwithstanding, any holdover by Tenant shall constitute a default on the part of Tenant under this Lease entitling
Landlord to exercise, without obligation to provide Tenant any notice or cure period, all of the remedies available to Landlord in the event of a Tenant default, and Tenant shall be liable for all damages, including consequential damages, that
Landlord suffers as a result of the holdover. 
 22. Defaults - Remedies. 
 (a) It shall be an Event of Default: 
 (i) If Tenant does not pay in full when due any and all Rent and, except as provided in Section 22(c) below, Tenant fails to cure such default on or before the date that is 5 days after Landlord gives Tenant notice of default;

 (ii) If Tenant enters into or permits any Transfer in violation of Section 18 above; 
 (iii) If Tenant fails to observe and perform or otherwise breaches any other provision of this Lease, and, except as provided in Section 22(c)
below, Tenant fails to cure the default on or before the date that is 10 days after Landlord gives Tenant notice of default; provided, however, if the default cannot reasonably be cured within 10 days following Landlord’s giving of notice,
Tenant shall be afforded additional reasonable time (not to exceed 30 days following Landlord’s notice) to cure the default if Tenant begins to cure the default within 10 days following Landlord’s notice and continues diligently in good
faith to completely cure the default; or 
 (iv) If Tenant becomes insolvent or makes a general assignment for the benefit of creditors or
offers a settlement to creditors, or if a petition in bankruptcy or for reorganization or for an arrangement with creditors under any federal or state law is filed by or against Tenant, or a bill in equity or other proceeding for the appointment of
a receiver for any of Tenant’s assets is commenced, or if any of the real or personal property of Tenant shall be levied upon; provided that any proceeding brought by anyone other than Landlord or Tenant under any bankruptcy, insolvency,
receivership or similar law shall not constitute an Event of Default until such proceeding has continued unstayed for more than 60 consecutive days. 
 (b) If an Event of Default occurs, Landlord shall have the following rights and remedies: 
 (i)
Landlord, without any obligation to do so, may elect to cure the default on behalf of Tenant, in which event Tenant shall reimburse Landlord upon demand for any sums paid or costs incurred by Landlord (together with an administrative fee of 15%
thereof) in curing the default, plus interest at the Interest Rate from the respective dates of Landlord’s incurring such costs, which sums and costs together with interest at the Interest Rate shall be deemed additional Rent; 
 (ii) To enter and repossess the Premises, by breaking open locked doors if necessary, and remove all persons and all or any property, by action at law or
otherwise, without being liable for prosecution or damages. Landlord may, at 
  

 8 

 
Landlord’s option, make Alterations and repairs in order to relet the Premises and relet all or any part(s) of the Premises for Tenant’s account.
Tenant agrees to pay to Landlord on demand any deficiency (taking into account all costs incurred by Landlord) that may arise by reason of such reletting. In the event of reletting without termination of this Lease, Landlord may at any time
thereafter elect to terminate this Lease for such previous breach; 
 (iii) To accelerate the whole or any part of the Rent for the balance
of the Term, and declare the same to be immediately due and payable; and 
 (iv) To terminate this Lease and the Term without any right on
the part of Tenant to save the forfeiture by payment of any sum due or by other performance of any condition, term or covenant broken. 
 (c) Any provision to the contrary in this Section 22 notwithstanding, (i) Landlord shall not be required to give Tenant the notice and opportunity to cure provided in Section 22(a) above more than twice in any
consecutive 12-month period, and thereafter Landlord may declare an Event of Default without affording Tenant any of the notice and cure rights provided under this Lease, and (ii) Landlord shall not be required to give such notice prior to
exercising its rights under Section 22(b) if Tenant fails to comply with the provisions of Sections 13, 20 or 27 or in an emergency. 
 (d) No waiver by Landlord of any breach by Tenant shall be a waiver of any subsequent breach, nor shall any forbearance by Landlord to seek a remedy for any breach by Tenant be a waiver by Landlord of any rights and remedies with
respect to such or any subsequent breach. Efforts by Landlord to mitigate the damages caused by Tenant’s default shall not constitute a waiver of Landlord’s right to recover damages hereunder. No right or remedy herein conferred upon or
reserved to Landlord is intended to be exclusive of any other right or remedy provided herein or by law, but each shall be cumulative and in addition to every other right or remedy given herein or now or hereafter existing at law or in equity. No
payment by Tenant or receipt or acceptance by Landlord of a lesser amount than the total amount due Landlord .under this Lease shall be deemed to be other than on account, nor shall any endorsement or statement on any check or payment be deemed an
accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of Rent due, or Landlord’s right to pursue any other available remedy. 
 (e) If either party commences an action against the other party arising out of or in connection with this Lease, the prevailing party shall be
entitled to have and recover from the other party attorneys’ fees, costs of suit, investigation expenses and discovery costs, including costs of appeal. 
 (f) Landlord and Tenant waive the right to a trial by jury in any action or proceeding based upon or related to, the subject matter of this Lease. 
 23. Tenant’s Authority. Tenant represents and warrants to Landlord that: (a) Tenant is duly formed, validly existing and in good standing under the laws of the state under which
Tenant is organized, and qualified to do business in the state in which the Property is located, and (b) the person(s) signing this Lease are duly authorized to execute and deliver this Lease on behalf of Tenant. 
 24. Liability of Landlord. The word “Landlord” in this Lease includes the Landlord executing this Lease as well as its successors
and assigns, each of which shall have the same rights, remedies, powers, authorities and privileges as it would have had it originally signed this Lease as Landlord. Any such person or entity, whether or not named in this Lease, shall have no
liability under this Lease after it ceases to hold title to the Premises except for obligations already accrued (and, as to any unapplied portion of Tenant’s Security Deposit, Landlord shall be relieved of all liability upon transfer of such
portion to its successor in interest). Tenant shall look solely to Landlord’s successor in interest for the performance of the covenants and obligations of the Landlord hereunder which subsequently accrue. Landlord shall not be deemed to be in
default under this Lease unless Tenant gives Landlord notice specifying the default and Landlord fails to cure the default within a reasonable period following Tenant’s notice. In no event shall Landlord be liable to Tenant for any loss of
business or profits of Tenant or for consequential, punitive or special damages of any kind. Neither Landlord nor any principal of Landlord nor any owner of the Property, whether disclosed or undisclosed, shall have any personal liability with
respect to any of the provisions of this Lease or the Premises; Tenant shall look solely to the equity of Landlord in the Property for the satisfaction of any claim by Tenant against Landlord. 
 25. Miscellaneous. 
 (a) The captions in
this Lease are for convenience only, are not a part of this Lease and do not in any way define, limit, describe or amplify the terms of this Lease. 
  

 9 

 (b) This Lease represents the entire agreement between the parties hereto and there are no
collateral or oral agreements or understandings between Landlord and Tenant with respect to the Premises or the Property. No rights, easements or licenses are acquired in the Property or any land adjacent to the Property by Tenant by implication or
otherwise except as expressly set forth in this Lease. This Lease shall not be modified in any manner except by an instrument in writing executed by the parties. The masculine (or neuter) pronoun and the singular number shall include the masculine,
feminine and neuter genders and the singular and plural number. The word “including” followed by any specific item(s) is deemed to refer to examples rather than to be words of limitation. The word “person” includes a natural
person, a partnership, a corporation, a limited liability company, an association and any other form of business association or entity. Both parties having participated fully and equally in the negotiation and preparation of this Lease, this Lease
shall not be more strictly construed, nor any ambiguities in this Lease resolved, against either Landlord or Tenant. 
 (c) Each
covenant, agreement, obligation, term, condition or other provision contained in this Lease shall be deemed and construed as a separate and independent covenant of the party bound by, undertaking or making the same, not dependent on any other
provision of this Lease unless otherwise expressly provided. All of the terms and conditions set forth in this Lease shall apply throughout the Term unless otherwise expressly set forth herein. 
 (d) If any provisions of this Lease shall be declared unenforceable in any respect, such unenforceability shall not affect any other provision of
this Lease, and each such provision shall be deemed to be modified, if possible, in such a manner as to render it enforceable and to preserve to the extent possible the intent of the parties as set forth herein. This Lease shall be construed and
enforced in accordance with the laws of the state in which the Property is located. 
 (e) This Lease shall be binding upon and inure
to the benefit of Landlord and Tenant and their: respective heirs, personal representatives and permitted successors and assigns. All persons liable for the obligations of Tenant under this Lease shall be jointly and severally liable for such
obligations. 
 (f) Tenant shall not record this Lease or any memorandum without Landlord’s prior consent. 
 26. Notices. Any notice, consent or other communication under this Lease shall be in writing and addressed to Landlord or Tenant at their respective
addresses specified in Section 1 above (or to such other address as either may designate by notice to the other) with a copy to any Mortgagee or other party designated by Landlord. Each notice or other communication shall be deemed given if
sent by prepaid overnight delivery service or by certified mail, return receipt requested, postage prepaid or in any other manner, with delivery in any case evidenced by a receipt, and shall be deemed to have been given on the day of actual delivery
to the intended recipient or on the business day delivery is refused. The giving of notice by Landlord’s attorneys, representatives and agents under this Section shall be deemed to be the acts of Landlord. 
 27. Security Deposit. At the time of signing this Lease, Tenant shall deposit with Landlord the Security Deposit to be retained by Landlord as cash
security for the faithful performance and observance by Tenant of the provisions of this Lease. Tenant shall not be entitled to any interest on the Security Deposit. Landlord shall have the right to commingle the Security Deposit with its other
funds. Landlord may use the whole or any part of the Security Deposit for the payment of any amount as to which Tenant is in default or to compensate Landlord for any loss or damage it may suffer by reason of Tenant’s default under this Lease.
If Landlord uses all or any portion of the Security Deposit as herein provided, within 10 days after demand, Tenant shall pay Landlord cash in an amount equal to that portion of the Security Deposit used by Landlord. If Tenant complies fully and
faithfully with all of the provisions of this Lease, the Security Deposit shall be returned to Tenant after the Expiration Date and surrender of the Premises to Landlord. 
 28. Automatic Funds Transfer. At Landlord’s option, Monthly Rent payments shall be made automatically via electronic funds transfer to an account designated by Landlord from an account of Tenant
designated by Tenant. 
 29. Early Access. Tenant shall at all reasonable times from and after November 15, 2006 have access to the
Premises, at Tenant’s own risk, expense and responsibility, for purposes of installing Tenant’s furniture, trade fixtures and equipment. In connection with such access prior to the Commencement Date, Tenant shall abide by the terms and
conditions of this Lease including carrying the insurance specified by the Lease, as if the term of this Lease had already commenced, except that Tenant shall have no obligation to pay Monthly Rent until the earlier of (i) the date Tenant
occupies the Premises and begins conducting business therefrom or (ii) the Commencement Date. Tenant shall also pay the charges for all utilities furnished to the Premises during Tenant’s early-access period, as reasonably estimated by
Landlord. 
 30. Parking. Tenant shall be entitled to the use of 5 parking spaces without charge for each 1,000 rentable square feet of the
Premises. Such parking shall be nonexclusive, undesignated and unreserved parking provided as part of the Building’s common area parking facilities. Tenant shall not utilize parking in excess of the ratio afforded Tenant in this lease.

  

 10 

 Landlord and Tenant have executed this Lease on the respective date(s) set forth below. 
  

					
		 	Landlord:
		
		 	LIBERTY PROPERTY LIMITED PARTNERSHIP
		
		 	By: Liberty Property Trust, Sole General Partner
			
	 Date signed:
	 	 By:
	 	 /s/ Robert L. Kiel

	 11/27/06
	 	 Name:
	 	 Robert L. Kiel

		 	 Title:
	 	 Senior Vice President/Regional Director

 

 
  

							
	 Date signed
	 	Tenant:
		
	 November 14, 2006
	 	VIRTUAL RADIOLOGIC CORPORATION
			
	 Attest:
	 		 	
				
	 By:
	 	 /s/ Jamison A Young
	 	 By:
	 	 /s/ Sean Casey,

	 Name:
	 	 Jamison A Young
	 	 Print Name:
	 	 Sean Casey, M. D.

	 Title:
	 	 Controller
	 	 Print Title:
	 	 CEO

  

 11 

 Rider 1 to Lease Agreement 
 (Multi-Tenant Industrial) 
 ADDITIONAL DEFINITIONS 
 “ADA” means the Americans With Disabilities Act of 1990 (42 U.S.C. § 1201 et seq.), as amended and supplemented from time to time. 
 “Affiliate” means (i) any entity controlling, controlled by, or under common control of, Tenant, (ii) any successor to Tenant by merger,
consolidation or reorganization, and (iii) any purchaser of all or substantially all of the assets of Tenant as a going concern. 
 “Agents”
of a party means such party’s employees, agents, representatives, contractors, licensees or invitees. 
 “Alteration” means any addition,
alteration or improvement to the Premises or Property, as the case may be. 
 “Building Rules” means the rules and regulations attached to this
Lease as Exhibit “B” as they may be amended from time to time. 
 “Building Systems” means any electrical, mechanical, structural,
plumbing, heating, ventilating, air conditioning, sprinkler, life safety or security systems serving the Building. 
 “Common Areas” means all
areas and facilities as provided by Landlord from time to time for the use or enjoyment of all tenants in the Building or Property, including, if applicable, driveways, sidewalks, parking, loading and landscaped areas. 
 “Environmental Laws” means all present or future federal, state or local laws, ordinances, rules or regulations (including the rules and regulations of the
federal Environmental Protection Agency and comparable state agency) relating to the protection of human health or the environment. 
 “Event of
Default” means a default described in Section 22(a) of this Lease. 
 “Hazardous Materials” means pollutants, contaminants, toxic or
hazardous wastes or other materials the removal of which is required or the use of which is regulated, restricted, or prohibited by any Environmental Law. 
 “Interest Rate” means interest at the rate of 1 1/2 % per month.

 “Land” means the lot or plot of land on which the Building is situated or the portion thereof allocated by Landlord to the Building.

 “Laws” means all laws, ordinances, rules, orders, regulations, guidelines and other requirements of federal, state or local governmental
authorities or of any private association or contained in any restrictive covenants or other declarations or agreements, now or subsequently pertaining to the Property or the use and occupation of the Property. 
 “Lease Year” means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first Lease Year any partial month
from the Commencement Date until the first day of the first full calendar month) and each successive 12-month period thereafter during the Term. 
 “Maintain” means to provide such maintenance, repair and, to the extent necessary and appropriate, replacement, as may be needed to keep the subject property in good condition and repair. 
 “Monthly Rent” means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under
this Lease. 
  

 Page 1 of 2 

 “Mortgage” means any mortgage, deed of trust or other lien or encumbrance on Landlord’s interest in the
Property or any portion thereof, including without limitation any ground or master lease if Landlord’s interest is or becomes a leasehold estate. 
 “Mortgagee” means the holder of any Mortgage, including any ground or master lessor if Landlord’s interest is or becomes a leasehold estate. 
 “Operating Expenses” means all costs, charges and expenses incurred or charged by Landlord in connection with the ownership, operation, maintenance and repair of, and services provided to, the Property,
including, but not limited to, (i) the charges at standard retail rates for any utilities provided by Landlord pursuant to Section 7 of this Lease, (ii) the cost of insurance carried by Landlord pursuant to Section 8 of this
Lease together with the cost of any deductible paid by Landlord in connection with an insured loss, (iii) Landlord’s cost to Maintain the Property, subject to the provisions of Section 9 of this Lease, (iv) the cost of trash
collection, (v) all levies, taxes (including real estate taxes, sales taxes and gross receipt taxes), assessments, liens, license and permit fees, together with the reasonable cost of contesting any of the foregoing, which are applicable to the
Term, and which are imposed by any authority or under any Law, or pursuant to any recorded covenants or agreements, upon or with respect to the Property, or any improvements thereto, or directly upon this Lease or the Rent or upon amounts payable by
any subtenants or other occupants of the Premises, or against Landlord because of Landlord’s estate or interest in the Property, (vi) the annual amortization (over their estimated economic useful life or payback period, whichever is
shorter) of the costs (including reasonable financing charges) of capital improvements or replacements, (vii) a management and administrative fee, and (viii) a tenant service charge. The foregoing notwithstanding, Operating Expenses will
not include: (i) depreciation on the Building, (ii) financing and refinancing costs (except as provided above), interest on debt or amortization payments on any mortgage, or rental under any ground or underlying lease, (iii) leasing
commissions, advertising expenses, tenant improvements or other costs directly related to the leasing of the Property, or (iv) income, excess profits or corporate capital stock tax imposed or assessed upon Landlord, unless such tax or any
similar tax is levied or assessed in lieu of all or any part of any taxes includable in Operating Expenses above. If Landlord elects to prepay real estate taxes during any discount period, Landlord shall be entitled to the benefit of any such
prepayment. Landlord shall have the right to directly perform (by itself or through an affiliate) any services provided under this Lease provided that the Landlord’s charges included in Operating Expenses for any such services shall not exceed
competitive market rates for comparable services. 
 “Property” means the Land, the Building, the Common Areas, and all appurtenances to them.

 “Rent” means the Minimum Annual Rent, Annual Operating Expenses and any other amounts payable by Tenant to Landlord under this Lease.

 “Taken” or “Taking” means acquisition by a public authority having the power of eminent domain by condemnation or conveyance in lieu
of condemnation. 
 “Tenant’s Share” means the percentage obtained by dividing the rentable square feet of the Premises by the rentable square
feet of the Building, as set forth in Section 1 of this Lease. 
 “Transfer” means (i) any assignment, transfer, pledge or other encumbrance
of all or a portion of Tenant’s interest in this Lease, (ii) any sublease, license or concession of all or a portion of Tenant’s interest in the Premises, or (iii) any transfer of a controlling interest in Tenant. 
  

 Page 2 of 2 

 

 

 EXHIBIT “B” 
 BUILDING RULES 
 1. Any sidewalks, lobbies, passages and stairways shall not be obstructed or used by
Tenant for any purpose other than ingress and egress from and to the Premises. Landlord shall in all cases retain the right to control or prevent access by all persons whose presence, in the judgment of Landlord, shall be prejudicial to the safety,
peace or character of the Property. 
 2. The toilet rooms, toilets, urinals, sinks, faucets, plumbing or other service apparatus of any kind
shall not be used for any purposes other than those for which they were installed, and no sweepings, rubbish, rags, ashes, chemicals or other refuse or injurious substances shall be placed therein or used in connection therewith or left in any
lobbies, passages, elevators or stairways. 
 3. Tenant shall not impair in any way the fire safety system and shall comply with all safety,
fire protection and evacuation procedures and regulations established by Landlord or any governmental agency. No person shall go on the roof without Landlord's prior written permission. 
 4. Skylights, windows, doors and transoms shall not be covered or obstructed by Tenant, and Tenant shall not install any window covering which would
affect the exterior appearance of the Building, except as approved in writing by Landlord. Tenant shall not remove, without Landlord's prior written consent, any shades, blinds or curtains in the Premises. 
 5. Without Landlord's prior written consent, Tenant shall not hang, install, mount, suspend or attach anything from or to any sprinkler, plumbing,
utility or other lines. If Tenant hangs, installs, mounts, suspends or attaches anything from or to any doors, windows, walls, floors or ceilings, Tenant shall spackle and sand all holes and repair any damage caused thereby or by the removal thereof
at or prior to the expiration or termination of the Lease. If Tenant elects to seal the floor, Tenant shall seal the entire unfinished floor area within the Premises. 
 6. Tenant shall not change any locks nor place additional locks upon any doors. 
 7. Tenant shall not use
nor keep in the Building any matter having an offensive odor, nor explosive or highly flammable material, nor shall any animals other than handicap assistance dogs in the company of their masters be brought into or kept in or about the Property.

 8. If Tenant desires to introduce electrical, signaling, telegraphic, telephonic, protective alarm or other wires, apparatus or devices,
Landlord shall direct where and how the same are to be placed, and except as so directed, no installation boring or cutting shall be permitted. Landlord shall have the right to prevent and to cut off the transmission of excessive or dangerous
current of electricity or annoyances into or through the Building or the Premises and to require the changing of wiring connections or layout at Tenant's expense, to the extent that Landlord may deem necessary, and further to require compliance with
such reasonable rules as Landlord may establish relating thereto, and in the event of non-compliance with the requirements or rules, Landlord shall have the right immediately to cut wiring or to do what it considers necessary to remove the danger,
annoyance or electrical interference with apparatus in any part of the Building. All wires installed by Tenant must be clearly tagged at the distributing boards and junction boxes and elsewhere where required by Landlord, with the number of the
office to which said wires lead, and the purpose for which the wires respectively are used, together with the name of the concern, if any, operating same. 
 9. Tenant shall not place weights anywhere beyond the safe carrying capacity of the Building. 
 10. The use
of rooms as sleeping quarters is strictly prohibited at all times. 
 11. Tenant shall have the right, at Tenant's sole risk and
responsibility, to use only Tenant's Share of the parking spaces at the Property as reasonably determined by Landlord. Tenant shall comply with all parking regulations promulgated by Landlord from time to time for the orderly use of the vehicle
parking areas, including without limitation the following: Parking shall be limited to automobiles, passenger or equivalent vans, motorcycles, light four wheel pickup trucks and (in designated areas) bicycles. No vehicles shall be left in the
parking lot overnight without Landlord's prior written approval. Parked vehicles shall not be used for vending or any other business or other activity while parked in the parking areas. Vehicles shall be parked only in striped parking spaces, except
for loading and unloading, which shall occur solely in zones marked for such purpose, and be so conducted as to not unreasonably interfere with traffic flow within the Property or with loading and unloading areas of other tenants. Employee and
tenant vehicles shall not be parked in spaces marked for visitor 

  

 B-1 

 
parking or other specific use. All vehicles entering or parking in the parking areas shall do so at owner's sole risk and Landlord assumes no responsibility
for any damage, destruction, vandalism or theft. Tenant shall cooperate with Landlord in any measures implemented by Landlord to control abuse of the parking areas, including without limitation access control programs, tenant and guest vehicle
identification programs, and validated parking programs, provided that no such validated parking program shall result in Tenant being charged for spaces to which it has a right to free use under its Lease. Each vehicle owner shall promptly respond
to any sounding vehicle alarm or horn, and failure to do so may result in temporary or permanent exclusion of such vehicle from the parking areas. Any vehicle which violates the parking regulations may be cited, towed at the expense of the owner,
temporarily or permanently excluded from the parking areas, or subject to other lawful consequence. 
 12. If Landlord designates the
Building as a non-smoking building, Tenant and its Agents shall not smoke in the Building nor at the Building entrances and exits. 
 13. If
at Tenant's request, Landlord consents to Tenant having a dumpster at the Property, Tenant shall locate the dumpster in the area designated by Landlord and shall keep and maintain the dumpster clean and painted with lids and doors in good working
order and, at Landlord's request, locked. 
 14. Tenant shall provide Landlord with a written identification of any vendors engaged by Tenant
to perform services for Tenant at the Premises (examples: cleaners, security guards/monitors, trash haulers, telecommunications installers/maintenance). 
 15. Tenant shall comply with any move-in/move-out rules provided by Landlord. 
 16. Tenant shall cause all
of Tenant's Agents to comply with these Building Rules. 
 17. Landlord reserves the right to rescind, suspend or modify any rules or
regulations and to make such other rules and regulations as, in Landlord's reasonable judgment, may from time to time be needed for the safety, care, maintenance, operation and cleanliness of the Property. Notice of any action by Landlord referred
to in this section, given to Tenant, shall have the same force and effect as if originally made a part of the foregoing Lease. New rules or regulations will not, however, be unreasonably inconsistent with the proper and rightful enjoyment of the
Premises by Tenant under the Lease. 
 18. These Building Rules are not intended to give Tenant any rights or claims in the event that
Landlord does not enforce any of them against any other tenants or if Landlord does not have the right to enforce them against any other tenants and such nonenforcement will not constitute a waiver as to Tenant. 
  

 B-2 

 EXHIBIT “C”  
 TENANT ESTOPPEL CERTIFICATE 
 Please refer to the documents described in
Schedule 1 hereto, (the “Lease Documents”) including the “Lease” therein described; all defined terms in this Certificate shall have the same meanings as set forth in the Lease unless otherwise expressly set forth herein. The
undersigned Tenant hereby certifies that it is the tenant under the Lease. Tenant hereby further acknowledges that it has been advised that the Lease may be collaterally assigned in connection with a proposed financing secured by the Property and/or
may be assigned in connection with a sale of the Property and certifies both to Landlord and to any and all prospective mortgagees and purchasers of the Property, including any trustee on behalf of any holders of notes or other similar instruments,
any holders from time to time of such notes or other instruments, and their respective successors and assigns (the “Beneficiaries”) that as of the date hereof: 
 1. The information set forth in attached Schedule 1 is true and correct. 
 2. Tenant is in occupancy of the
Premises and the Lease is in full force and effect, and, except by such writings as are identified on Schedule 1, has not been modified, assigned, supplemented or amended since its original execution, nor are there any other agreements between
Landlord and Tenant concerning the Premises, whether oral or written. 
 3. All conditions and agreements under the Lease to be satisfied or
performed by Landlord have been satisfied and performed. 
 4. Tenant is not in default under the Lease Documents, Tenant has not received
any notice of default under the Lease Documents, and, to Tenant's knowledge, there are no events which have occurred that, with the giving of notice and/or the passage of time, would result in a default by Tenant under the Lease Documents.

 5. Tenant has not paid any Rent due under the Lease more than 30 days in advance of the date due under the Lease and Tenant has no rights
of setoff, counterclaim, concession or other rights of diminution of any Rent due and payable under the Lease except as set forth in Schedule 1. 
 6. To Tenant's knowledge, there are no uncured defaults on the part of Landlord under the Lease Documents, Tenant has not sent any notice of default under the Lease Documents to Landlord, and there are no events which have occurred that,
with the giving of notice and/or the passage of time, would result in a default by Landlord thereunder, and that at the present time Tenant has no claim against Landlord under the Lease Documents. 
 7. Except as expressly set forth in Part G of Schedule 1, there are no provisions for any, and Tenant has no, options with respect to the Premises or all
or any portion of the Property. 
 8. No action, voluntary or involuntary, is pending against Tenant under federal or state bankruptcy or
insolvency law. 
 9. The undersigned has the authority to execute and deliver this Certificate on behalf of Tenant and acknowledges that all
Beneficiaries will rely upon this Certificate in purchasing the Property or extending credit to Landlord or its successors in interest. 
 10. This Certificate shall be binding upon the successors, assigns and representatives of Tenant and any party claiming through or under Tenant and shall inure to the benefit of all Beneficiaries. 
 IN WITNESS WHEREOF, Tenant has executed this Certificate this 16th day of November, 2006 
  

			
	VIRTUAL RADIOLOGIC CORPORATION
		
	By:	 	 /s/ Sean O. Casey

	Title:	 	CEO

  

 C-1 

 SCHEDULE 1 TO TENANT ESTOPPEL CERTIFICATE 
 Lease Documents, Lease Terms and Current Status 
  

	A.	Date of Lease: 

  

	B.	Parties: 

  

	 	1.	Landlord: 

  

	 	2.	Tenant: 

  

	C.	Premises: 

  

	D.	Modifications, Assignments, Supplements or Amendments to Lease: 

  

	E.	Commencement Date: 

  

	F.	Expiration of Current Term: 

  

	G.	Option Rights: 

  

	H.	Security Deposit Paid to Landlord: $ 

  

	I.	Current Minimum Annual Rent: $ 

  

	J.	Current Annual Operating Expenses: $ 

  

	K.	Current Total Rent: $ 

  

	L.	Square Feet Demised: 

  

 C-2Employment Agreement - Richard W. Jennings

 Exhibit 10.57 
 EMPLOYMENT AGREEMENT 
 EMPLOYMENT AGREEMENT (this “Agreement”) dated effective as of
April 2, 2007 (the “Effective Date”), between Virtual Radiologic Corporation, a Delaware corporation (the “Company”), and Richard W. Jennings (“Executive”). 
 W I T N E S S E T H 
 WHEREAS, the Company desires to employ Executive as Chief
Technology Officer of the Company; 
 WHEREAS, the Company and Executive desire to enter into the Agreement as to the terms of his employment
by the Company; 
 NOW THEREFORE, in consideration of the foregoing, of the mutual promises contained herein and of other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1.
Position/Duties. 
 (a) During the Employment Term (as defined in Section 2 below), Executive shall serve as the
Chief Technology Officer of the Company. In this capacity Executive shall have such duties, authorities and responsibilities commensurate with the duties, authorities and responsibilities of persons in similar capacities in similarly sized companies
and such other duties and responsibilities as the Chief Executive Officer shall designate that are consistent with Executive’s position as Chief Technology Officer of the Company. Executive shall report to the Chief Executive Officer.

 (b) During the Employment Term, Executive shall devote substantially all of his business time (excluding periods of
vacation and other approved leaves of absence) to the performance of his duties with the Company; provided the foregoing shall not prevent Executive from (i) participating in charitable, civic, educational, professional, community or industry
affairs or, with prior written approval of the Board of Directors of the Company (the “Board”), serving on the board of directors or advisory boards of other companies; and (ii) managing his and his family’s’ personal
investments so long as such activities do not materially interfere with the performance of his duties hereunder or create a potential business conflict or the appearance thereof. If at any time service on any board of directors or advisory board
would, in the good faith judgment of the Board, conflict with Executive’s’ fiduciary duty to the Company or create any appearance thereof, Executive shall promptly resign from such other board of directors or advisory board after notice of
the conflict is received from the Board. 
 (c) Executive further agrees to serve without additional compensation as an
officer and director of any of the Company’s subsidiaries or affiliates, as the same may exist from time to time, and agrees that any amounts received from any such subsidiary or affiliate may be offset against the amounts due hereunder. In
addition, it is agreed that the Company may assign Executive to one of its subsidiaries or affiliates for payroll purposes providing this does not change the Executive’s role as the Chief Technology Officer of the Company 

 2. Employment Term. 
 Executive’s term of employment under this Agreement (such term of employment, as it may be extended or terminated, is herein referred
to as the “Employment Term”) shall be for a term commencing on the Effective Date and, unless terminated earlier as provided in Section 7 hereof, ending on the third anniversary of the Effective Date (the “Original Employment
Term”); provided that the Employment Term shall be automatically extended, subject to earlier termination as provided in Section 7 hereof, for successive additional one (1) year periods (the “Additional Terms”), unless, at
least 30 days prior to the end of the Original Employment Term or the then Additional Term, the Company or Executive has notified the other in writing that the Employment Term shall terminate at the end of the then current term. 
 3. Base Salary. 
 The
Company agrees to pay Executive a base salary (the “Base Salary”) at an annual rate of Three Hundred Thousand Dollars ($300,000), payable in accordance with the regular payroll practices of the Company, but not less frequently than
monthly. Executive’s Base Salary shall be fixed for the Original Employment Term, and thereafter in any Additional Term shall be determined by the Board (or a committee thereof) and may be increased, but not decreased, from time to time by the
Board. The base salary as determined herein from time to time shall constitute “Base Salary” for purposes of this Agreement. 
 4.
Incentive Bonus. 
 During the Employment Term, Executive shall be eligible to participate in the Company’s bonus
and other incentive compensation plans and programs for the Company’s senior executives at a level commensurate with his position. Executive shall have the opportunity to earn an annual target bonus (the “Annual Bonus”) to be
determined by and measured against objective financial criteria to be determined by the Board (or a committee thereof) of up to 50% of Base Salary upon the Company’s achievement of financial and operating metrics to be annually determined by
the Board (or a committee thereof), and upon recommendation of the Chief Executive Officer to be appropriate and reasonably commensurate with the bonus payable to other executives of the Company, and prorated for any partial period for which such
bonuses are calculated during 2007. Such annual incentive bonuses are payable to the Executive no later than 60 days following the close of the fiscal year. 
 5. Equity Incentives. 
 (a) Initial Option Award. The Board or any committee of
the Board (the “Committee”) appointed to administer the Company’s Equity Incentive Plan, as may be amended from time to time (the “Stock Plan”) shall award Executive as of the Effective Date, options to purchase one hundred
thirty thousand (130,000) shares of the Company’s common stock, $0.001 par value per share, having an exercise price equal to the fair market value of one share of the Company’s common stock as of the Effective Date as determined by
the Board or Committee at the earliest practicable time, which options shall be subject to certain restrictions (the “Initial Options Award”). The Initial Options Award shall vest in four (4) equal amounts on the first, second, third
and fourth anniversaries of the Effective Date, provided that Executive is employed 

 
on each vesting date. The Initial Options Award shall be granted pursuant to and shall be subject to all of the terms and conditions imposed upon such awards
granted under the Stock Plan and shall be evidenced by an Incentive Stock Option Agreement in the form approved by the Board or Committee. As a condition to receiving the Initial Options Award, Executive shall become party to the Stockholders
Agreement dated May 2, 2005, as amended from time to time, by and among the Company and certain holders of the Company’s securities, and, if requested, Executive shall also execute and deliver a letter in a form approved by the
Company’s underwriters agreeing not to sell any shares of Company common stock during a customary period following the completion of an initial public offering of the Company’s common stock. 
 (b) Discretionary Grants. In addition to the Initial Options Award contemplated under this Section 5, at the sole discretion
of the Board or the Committee, Executive shall be eligible for grants of stock options and other equity awards of a level commensurate with his position and similar to other Executives of the Company. 
 (c) Notwithstanding any other provision, in the event of a change in control, all equity awards (including, but not limited to, any
options or stock grants made subsequent to the date of this Agreement) shall fully vest and be immediately exercisable. For purposes of this Agreement a change in control shall occur upon (i) any “person” (as such term is used in
Sections 13(d) of the Securities Exchange Act of 1934 (the “Exchange Act”)) first becoming after the Effective Date (a) a “beneficial owner” (as defined in Rule 13(d) under the Exchange Act), directly or indirectly, of
securities of the Corporation representing 50% or more of the combined voting power of the Corporation’s then outstanding securities or (b) able to elect a majority of the Company’s Board of Directors (excepting in each case a person
or group owned by or affiliated with Generation Partners L.P.), or (ii) the sale of all or substantially all of the assets of the Company. 
 (d) Option to Have Company Repurchase Stock and Options. If Executive dies while employed, the Company shall, subject to any restrictions contained in any credit or similar agreements or that exist under the
Delaware General Corporation Law, offer to purchase all of Executive’s stock and any outstanding options which are vested at the time of death. If the representative of the Executive’s estate wishes to accept such offer, he or she shall
request, within six (6) months of death, that the Board determine the fair market value of Executive’s interest in the Company. This value shall be communicated in writing to the representative, and the representative shall have thirty
(30) days to accept or reject the valuation. If the valuation is rejected, the representative shall have no further rights to have the interest repurchased by the Company. If the valuation is accepted, the Company shall pay the amount of the
valuation in three (3) equal annual installments without interest. The initial installment shall be payable within ten days following the Company’s receipt of the representatives written acceptance of the valuation and delivery of the
shares and/or options together with any transfer documentation reasonably requested by the Company. A subsequent installment shall be due on the first and on the second anniversary of the payment date of the initial installment. 

 6. Employee Benefits. 
 (a) Benefit Plans. Executive shall be entitled to participate in all employee benefit plans of the Company including, but not
limited to, equity, pension, thrift, profit sharing, medical coverage, education, or other retirement or welfare benefits that the Company has adopted or may adopt, maintain or contribute to for the benefit of its senior executives at a level
commensurate with his position, subject to satisfying any applicable eligibility requirements. 
 (b) Paid Time Off.
Executive shall be entitled to paid time off in accordance with the Company’s policies applicable to its senior executives, but in no event less than twenty days (as prorated for partial years), which paid time off may be taken at such times as
Executive elects with due regard to the needs of the Company. 
 (c) Perquisites. The Company shall provide to
Executive all perquisites which other senior executives of the Company are generally entitled to receive. 
 (d) Business
and Entertainment Expenses. Upon presentation of appropriate documentation, Executive shall be reimbursed in accordance with the Company’s expense reimbursement policy for all reasonable and necessary business and entertainment expenses
incurred in connection with the performance of his duties hereunder. 
 7. Termination. 
 Executive’s employment and the Employment Term shall terminate on the first of the following to occur: 
 (a) Disability. Upon written notice by the Company to Executive of termination due to Disability. For purposes of this Agreement,
“Disability” shall be defined as the inability of Executive to have performed his material duties hereunder due to a physical or mental injury, infirmity or incapacity for 180 days (including weekends and holidays) in any 365-day period,
with or without reasonable accommodations as defined (and if required) by applicable state and federal disability laws. The existence or nonexistence of a Disability shall be determined by an independent physician selected by the Company and
reasonably acceptable to Executive. 
 (b) Death. Automatically on the date of death of Executive. 
 (c) Cause. Immediately upon written notice by the Company to Executive of a termination for Cause. “Cause” shall mean:

 (i) Executive shall have been indicted for a felony; 
 (ii) Executive shall have been convicted of (or plead “guilty” or “nolo contendre” to or been found guilty and not
convicted of) any misdemeanor or summary offense involving fraud, theft, misrepresentation or moral turpitude or any other misdemeanor or summary offense that will, in the opinion of the Board , determined in good faith, adversely affect in any
material respect the Company’s prospects or 

 
reputation or Executive’s ability to perform his obligations or duties to the Company or any of its subsidiaries; or 
 (iii) The termination is evidenced by a resolution adopted in good faith by the Board concluding that Executive: 
 (A) intentionally and continually failed substantially to perform his reasonably assigned duties with the Company (other than a failure
resulting from Executive’s incapacity due to physical or mental illness or from the assignment to Executive of duties that would constitute Good Reason), which failure has continued for a period of at least 30 days after a written notice of
demand for substantial performance, signed by a duly authorized member of the Board, has been delivered to Executive, 
 (B)
intentionally engaged in conduct which is demonstrably and materially injurious to the Company; provided, however, that no termination of Executive’s employment shall be for Cause as set forth in this subsection (B) until (1) there
shall have been delivered to Executive a copy of a written notice, signed by a duly authorized member of the Board, stating that the Board has determined that Executive has engaged in the conduct set forth in this subsection (B), and
(2) Executive shall have been provided an opportunity to be heard by the Board; 
 (C) willfully or repeatedly engaged
in misconduct or gross negligence in the performance of his duties to the Company or any of its subsidiaries that has a material detrimental effect on the Company; or 
 (D) committed an act of fraud, theft or dishonesty against the Company or any of its subsidiaries or any act or omission intended to
result in the personal enrichment of Executive or his spouse, parents or descendants (whether by blood or adoption and including stepchildren) or the spouses of such individuals in violation of law or of his duty of loyalty to the Company or its
subsidiaries at the expense, directly or indirectly, of the Company or any of its subsidiaries. 
 (iv) Notwithstanding
anything in the foregoing to the contrary, if Executive has been terminated ostensibly for Cause because he has been indicted for a felony, and he is not convicted of, or does not plead guilty or nolo contendere to, such felony or a lesser offense
(based on the same operative facts), such termination shall be deemed to be a termination without Cause as of the date of the termination; provided, however, that, any payments due hereunder shall be only paid after a final determination in such
proceeding is reached. 
 (d) Without Cause. Upon written notice by the Company to Executive of an involuntary
termination without Cause, other than for death or Disability, 
 (e) Good Reason. Upon written notice by
Executive to the Company of a termination for Good Reason, unless such events are corrected in all material respects by the Company within 30 days following written 

 
notification by Executive to the Company that he intends to terminate his employment hereunder for one of the reasons set forth below (so long as such notice
is given within ninety (90) days of the occurrence of such Good Reason). “Good Reason” shall mean, without the consent of Executive, the occurrence of any of the following events: 
 (i) assignment to Executive of any duties inconsistent in any material respect with Executive’s position (including titles and
reporting relationships), authority, duties or responsibilities as contemplated by this Agreement; and 
 (ii) any material
failure by the Company to comply with any of the material provisions regarding Executive’s Base Salary, bonus, equity incentive, benefits and perquisites and other benefits and amounts payable to Executive under this Agreement. 
 (f) Without Good Reason. Upon 30 days’ prior written notice by Executive to the Company of Executive’s voluntary
termination of employment without Good Reason (which the Company may, in its sole discretion, make effective earlier than any notice date). 
 8. Consequences of Termination. 
 Any termination payments made and benefits provided under this Agreement to
Executive shall be in lieu of any termination or severance payments or benefits for which Executive may be eligible under any of the plans, policies or programs of the Company or its affiliates. No termination payments shall be payable hereunder
until Executive shall have returned to the Company all Company property used by Executive including without limitation any automobile, computer or laptop, cell phone, Blackberry or similar device. Subject to Section 9, the following amounts and
benefits shall be due to Executive. 
 (a) Disability. Upon such termination, the Company shall pay or provide
Executive (i) any unpaid Base Salary through the date of termination and any accrued vacation in accordance with Company policy; (ii) any unpaid bonus earned with respect to any fiscal year ending on or preceding the date of termination;
(iii) reimbursement for any unreimbursed expenses incurred through the date of termination; and (iv) all other payments, benefits or fringe benefits to which Executive may be entitled under the terms of any applicable compensation
arrangement or benefit, equity or fringe benefit plan or program or grant or this Agreement (collectively, “Accrued Amounts”). 
 (b) Death. In the event the Employment Term ends on account of Executive’s death, Executive’s estate shall be entitled to any Accrued Amounts. 
 (c) Termination for Cause or Without Good Reason. If Executive’s employment should be terminated (i) by the Company for
Cause, or (ii) by Executive without Good Reason, the Company shall pay to Executive any Accrued Amounts. 
 (d)
Termination Without Cause or for Good Reason. If Executive’s employment by the Company is terminated by the Company other than for Cause (other than a termination for Disability) or by Executive for Good Reason, the Company shall pay or
provide Executive with (i) Accrued Amounts; (ii) a pro-rata portion (determined by multiplying the 

 
amount Executive would have received had employment continued through the end of the performance year by a fraction, the numerator of which is the number of
days during the performance year of termination that Executive is employed by the Company and the denominator of which is 365) of Executive’s Annual Bonus for the performance year in which Executive’s termination occurs at the time that
annual bonuses are paid to other senior executives; provided that the Board determines in good faith that the Company was on plan for Executive to earn such bonus at the time of termination; (iii) continue his then current Base Salary as if his
employment continued for a period of twelve (12) months from the date of termination, subject to the mitigation provisions set forth below; and (iv) subject to Executive’s continued copayment of premiums, continued participation for
twelve (12) months in all health and welfare plans which cover Executive (and eligible dependents) upon the same terms and conditions (except for the requirements of Executive’s continued employment) in effect on the date of termination.
If at any time after Executive’s termination while the Company is obligated hereunder to make such payments of Base Salary or continue such benefits, Executive receives compensation for providing services as an employee or as an independent
contractor from any person or entity, then Executive shall immediately notify the Company of such event and the Company’s obligation to continue to make such payments to Executive shall be reduced by the gross amount of any such payments and
the obligation to continue to provide benefits shall cease at such time as Executive is eligible for health insurance coverage by any successor employer or person or entity, prompt notice of which Executive shall furnish to the Company. Executive
shall use good faith and reasonable efforts to find and secure new employment after any such termination. To the extent such coverage cannot be provided under the Company’s health or welfare plans without jeopardizing the tax status of such
plans, for underwriting reasons or because of the tax impact on Executive, the Company shall pay Executive an amount equal to the amount the Company would have paid for such benefits on behalf of Executive if the benefits were provided to him as an
employee. The continuation of health benefits under this subsection shall reduce and count against Executive’s rights under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). 
 (e) Amounts Payable. The Company reserves the right to set off against amounts payable to Executive hereunder any amounts owed by
Executive to the Company. 
 9. Release. 
 Any and all amounts payable and benefits or additional rights provided pursuant to this Agreement beyond Accrued Amounts shall only be payable if Executive delivers to the Company a general release of all claims of
Executive occurring up to the release date in the form of Exhibit A hereto (with such insertions or changes therein as may be necessary in the reasonable opinion of counsel for the Company to make it valid and encompassing under applicable law)
within 21 days of presentation thereof by the Company to Executive, or such other longer or shorter period as may be permitted or required by then applicable law. 
 10. Restrictive Covenants. 
 (a) Confidentiality. Executive shall not, directly
or indirectly, use, make available, sell, disclose or otherwise communicate to any person, other than in the course of 

 
Executive’s assigned duties and for the benefit of the Company, either during the Employment Term or at any time thereafter, any nonpublic proprietary
or confidential information, knowledge or data relating to the Company or any of its subsidiaries or affiliates that has been obtained by Executive during Executive’s employment by the Company or has been obtained pursuant to any consulting
services provided by Executive to Company prior to Executive’s employment by the Company. For purposes of this Agreement, non-public proprietary information means information proprietary to the Company that is not generally known (including any
“trade secret” within the meaning of the Economic Espionage Act of 1996, Title 18 USC §1839) about the Company’s customers, products, services, personnel, pricing, sales strategy, technology, methods, processes, research,
development, finances, systems, techniques, accounting, purchasing and plans. All information disclosed to Executive or to which he obtains access, whether originated by him or by others, during the period that Executive is an employee of the
Company (such period being referred to as the “Employment Period”) (whether prior to the Effective Date or thereafter), shall be presumed to be non-public proprietary information if it is so treated by the Company or if Executive has a
reasonable basis to believe it to be such. The foregoing shall not apply to information that (i) was known to the public prior to its disclosure to Executive; (ii) becomes known to the public subsequent to disclosure to Executive through
no wrongful act of Executive or any representative of Executive; or (iii) Executive is required to disclose by applicable law, regulation or legal process (provided that Executive provides the Company with prior notice of the contemplated
disclosure and reasonably cooperates with the Company at its expense in seeking a protective order or other appropriate protection of such information). Notwithstanding clauses (i) and (ii) of the preceding sentence, Executive’s
obligation to maintain such disclosed information in confidence shall not terminate where only portions of the information are in the public domain. 
 (b) Nonsolicitation. During the Employment Term and for the two year period thereafter, Executive shall not, directly or indirectly, individually or on behalf of any other person, firm, corporation or other
entity, knowingly solicit, aid or induce (i) any employee of or consultant to the Company or any of its subsidiaries or affiliates to leave such employment or engagement in order to accept employment with or render services to or with any other
person, firm, corporation or other entity unaffiliated with the Company or knowingly take any action to materially assist or aid any other person, firm, corporation or other entity in identifying or hiring any such employee or (ii) any customer
of the Company or any of its subsidiaries or affiliates to purchase goods or services then sold by the Company or any of its subsidiaries or affiliates from another person, firm, corporation or other entity or assist or aid any other persons or
entity in identifying or soliciting any such customer. 
 (c) Noncompetition. Executive acknowledges that he performs
services of a unique nature for the Company that are irreplaceable, and that his performance of such services to a competing business will result in irreparable harm to the Company. Accordingly, during the Employment Term and for the two year period
thereafter, Executive shall not, directly or indirectly, own, manage, operate, control, be employed by (whether as an employee, consultant, independent contractor or otherwise, and whether or not for compensation) or render services to any person,
firm, corporation or other entity, in whatever form, engaged in any business of the same type as any business in which the Company or any of its subsidiaries or affiliates is engaged on the date of termination or in which they have proposed, on or
prior to such date, to be engaged in on or after such date, in any locale of any country in which the Company or its subsidiaries conducts business. This Section 10(c) shall not prevent Executive from owning not 

 
more than one percent of the total shares of all classes of stock outstanding of any publicly held entity engaged in such business, nor will it restrict
Executive from rendering services to charitable organizations, as such term is defined in Section 501(c) of the Internal Revenue Code of 1986, as amended. 
 (d) Nondisparagment. Neither Executive nor the Company (for purposes hereof, the Company shall mean the Company together with its
executive officers and directors and not any other employees) shall make any public statements that disparage the other party, or in the case of the Company, its respective subsidiaries, affiliates, employees, officers, directors, products or
services. Notwithstanding the foregoing, statements made in the course of sworn testimony in administrative, judicial or arbitral proceedings (including, without limitation, depositions in connection with such proceedings) shall not be subject to
this Section 10(d). 
 (e) Equitable Relief and Other Remedies. Executive acknowledges and agrees that the
Company’s remedies at law for a breach or threatened breach of any of the provisions of this Section 10 would be inadequate and, in recognition of this fact, Executive agrees that, in the event of such a breach or threatened breach, in
addition to any remedies at law, the Company, without posting any bond, shall be entitled to obtain equitable relief in the form of specific performance, temporary restraining order, a temporary or permanent injunction or any other equitable remedy
which may then be available. 
 (f) Reformation. If it is determined by a court of competent jurisdiction in any state
or other jurisdiction that any restriction in this Section 10 is excessive in duration or scope or is unreasonable or unenforceable under the laws of that state or jurisdiction, it is the intention of the parties that such restriction may be
modified or amended by the court to render it enforceable to the maximum extent permitted by the law of that state or jurisdiction. 
 (g) Survival of Provisions. The obligations contained in this Section 10 shall survive the termination or expiration of Executive’s employment with the Company and shall be fully enforceable thereafter. 
 11. Inventions and Other Intellectual Property. 
 (a) Assignment of Inventions and Works Limitation of Assignment in Certain Cases. Executive acknowledges that Executive will exercise Executive’s inventive and creative abilities for the benefit of the
Company. Executive therefore assigns and transfers to the Company Executive’s entire right, title and interest in and to all Inventions. Executive agrees that all such Inventions are the sole property of the Company. For purposes of this
Agreement, “Inventions” shall include but not be limited to all ideas, improvements, designs and discoveries whether or not patentable and whether or not reduced to practice, made or conceived by Executive (whether made solely by Executive
or jointly with others) which relate in any manner to the business, work or research and development of the Company, its subsidiaries or affiliates, or result from and are suggested by any task assigned to Executive or any work performed by
Executive for or on behalf of the Company, its predecessors in interest or any related entity. The foregoing definition does not however, include an Invention for which no equipment, supplies, facility, or confidential information of the Company was
used and that was developed entirely on 

 
Executive’s own time and that (i) does not directly relate to the Company’s business, research or development, or (ii) does not result
from any work performed by Executive for the Company. 
 Executive agrees that all Works are the sole property of the Company, and shall, to
the extent possible, be considered works made for hire for Company within the meaning of Title 17 of the United States Code; provided, however, that if Executive is domiciled in California or if any of the Work is created in California, then such
Work shall not be a work made for hire. If for any reason any Work is not deemed to be a work made for hire, then Executive assigns and transfers to the Company Executive’s entire right, title and interest in and to such Work, and Executive
further waives all of his rights under the United States Copyright Act and under any other country’s copyright law, including any rights provided in 17 U.S.C. §§ 106 and 106A, for any and all purposes for which such Work and any
derivative works thereof may be used, and any rights of attribution and integrity or any other “moral rights of authors” with respect to such Work and any derivative works thereof and any uses thereof to the full extent now or hereafter
permitted by the laws of the United States of America or the laws of any other country. For purposes of this Agreement, “Works” shall include but not be limited to all copyrightable works created by Executive (whether solely by Executive
or jointly with others) during the Employment Period, or any time thereafter, which relate in any manner to the business, work or research and development of the Company, its subsidiaries or affiliates, or result from and are suggested by any task
assigned to Executive or any work performed by Executive for or on behalf of the Company, its subsidiaries or affiliates. If any such assignment is invalid or ineffective for any reason, then Executive hereby grants Company a perpetual,
royalty-free, non-exclusive, worldwide license to fully exploit any intellectual property or propriety rights in such Inventions and Works and any patents and copyrights (or other intellectual property or propriety registrations or applications)
resulting there from. 
 (b) Disclosure of Inventions, Works and Patents. Executive agrees that in connection with any
Invention or Work: 
 (i) Executive will disclose such Invention promptly in writing to the President, Chief Executive Officer
or Board of the Company, in order to permit the Company to claim rights to which it may be entitled under this Agreement. Such disclosure shall be received in confidence by the Company or the Board. 
 (ii) Executive will, at the Company’s request, promptly execute a written assignment of title to the Company for any Invention
required to be assigned by this Article (“Assignable Invention”), and Executive will preserve any such Assignable Invention as confidential information of the Company. 
 (iii) Executive will give to the relevant contact person at the Company a copy of such Work. Executive will, at the Company’s
request, promptly execute a written assignment of title to the Company for any such Work. 
 (iv) Upon request, Executive
agrees to assist the Company or its nominee (at its expense) during and at any time subsequent to the Employment Period in every reasonable way to obtain for its own benefit patents and copyrights for such 

 
Assignable Inventions and such Works in any and all countries, which Inventions and Works shall be and remain the sole and exclusive property of the Company
or its nominee whether or not patented or copyrighted. Executive agrees to execute such papers and perform such lawful acts as the Company deems to be necessary to allow it to exercise all right, title and interest in such patents and copyrights.

 (c) Execution of Documents. In connection with this Section 11, Executive further agrees to execute,
acknowledge and deliver to the Company or its nominee upon request (at its expense) all such documents, including applications for patents and copyrights and assignments of inventions, patents and copyrights to be issued therefore, as the Company
may determine necessary or desirable to apply for and obtain letters, patents and copyrights on such Assignable Inventions and such Works in any and all countries and/or to protect the interest of the Company or its nominee in such inventions, such
Works, patents and copyrights, and to vest title thereto in the Company, or its nominee. 
 (d) Maintenance of Records.
Executive agrees to keep and maintain adequate and current written records of all Inventions and Works made or created by Executive (in the form of notes, sketches, drawings and other typical forms), which records shall be available to and remain
the sole property of the Company at all times. 
 (e) Prior Inventions. It is understood that all inventions, if any,
patented or unpatented, which Executive made prior to the Executive’s first day as an employee of or consultant or contractor to the Company, its predecessors in interest or any related entity (and which have not been otherwise assigned or
transferred to the Company) are excluded from the scope of this Agreement. 
 To preclude any possible uncertainty, Executive
has set forth on Exhibit B attached hereto a complete list of all Executive’s prior inventions, if any, including numbers of all patents and patent applications, and a brief description of all unpatented inventions that are not the property of
a previous employer or other person and which have not been otherwise assigned or transferred to the Company. Executive represents and covenants that the list is complete and that, if no items are on the list, Executive has no such prior inventions.
Executive agrees to notify the Company in writing before Executive makes any disclosure or performs any work on behalf of the Company which appears to threaten or conflict with proprietary rights Executive claims in any invention or idea. In the
event of Executive’s failure to give such notice, Executive agrees that Executive will make no claim against the Company with respect to any such inventions or ideas. 
 (f) Covenant. Executive acknowledges that his role and duties as Chief Technology Officer of the Company may entail either use of
the intellectual property identified on Exhibit B or development of new intellectual property that may be an extension of the intellectual property identified on Exhibit B. To the extent that either of such eventualities occurs, Executive covenants
on behalf of himself and on behalf of Assess IT to assert no claim of any kind whatsoever, either for damages or equitable relief, against the Company, or any successor in interest of the Company, that is based upon, arises from or relates to any
intellectual property that was owned or used by the Company during Executive’s tenure as an officer of the Company. The covenant given herein is independent of any other provision in this Agreement; 

 
is irrevocable; shall never lapse or become otherwise ineffective; and shall survive the termination of this Agreement for whatever reason. 
 (g) Trade Secrets and Intellectual Property of Others. Executive represents that Executive’s performance of all the terms of
this Agreement does not and will not breach any noncompetition or nonsolicitation agreement, or any agreement to keep proprietary information, knowledge or data acquired by Executive in confidence or in trust prior to the Employment Period, and
Executive will not disclose to the Company or induce the Company to use any confidential or proprietary information or material belonging to any previous employer or other person. Executive agrees not to enter into any agreement either written or
oral in conflict herewith. 
 (h) Non infringement. Executive represents that the work product that Executive provides
to the Company, including the Inventions and the Works, and Company’s use thereof in their indented manner: (a) do not and will not infringe or violate the copyright or trade secret rights of any other party; and (b) to the best of
Executive’s knowledge, do not and will not infringe or violate the actual or prospective patent or trademark rights of any other party. If at any time during or after the Employment Period, Executive has reason to believe that the foregoing
representation is no longer true, then Executive shall promptly inform Company of such belief and the reasons therefor. 
 (i)
Other Obligations. Executive acknowledges that the Company from time to time may have agreements with other persons or with the U.S. Government or governments of other countries, or agencies thereof, which impose obligations or restrictions
on the Company regarding inventions made during the course of work thereunder or regarding the confidential nature of such work. Executive agrees to be bound by all such obligations and restrictions and to take all action necessary to discharge the
obligations of the Company thereunder. 
 12. Assignments. 
 (a) This Agreement is personal to each of the parties hereto. Except as provided in Section 12(b) below, no party may assign or
delegate any rights or obligations hereunder without first obtaining the written consent of the other party hereto. 
 (b) The
Company may assign this Agreement to any successor to all or substantially all of the business and/or assets of the Company, provided the Company shall require such successor to expressly assume and agree to perform this Agreement in the same manner
and to the same extent that the Company would be required to perform it if no such succession had taken place. 
 13. Notice.

 For the purpose of this Agreement, notices and all other communications provided for in this Agreement shall be in writing
and shall be deemed to have been duly given (i) on the date of delivery if delivered by hand, (ii) on the date of transmission, if delivered by confirmed facsimile, (iii) on the first business day following the date of deposit if
delivered by guaranteed overnight delivery service, or (iv) on the fourth business day following the date delivered or 

 
mailed by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
 If to Executive: 
 At the address (or to the facsimile number) shown on the records of the Company. 
 If to the Company: 

Virtual Radiologic Corporation 
 5995 Opus Parkway, Suite 200 
 Minnetonka, MN 55343 
 Attention: Corporate Secretary 
 Fax: 952/943-2401 
 with copies to: 
 Generation Partners L.P. 
 One Greenwich Office Park 
 Greenwich, CT 06831-5156 
 Attention: Andrew Hertzmark 
 Fax: 203/422-8250 
 or to such other address as either party may have furnished to the other in writing in accordance
herewith, except that notices of change of address shall be effective only upon receipt. 
 14. Section Headings; Inconsistency.

 The section headings used in this Agreement are included solely for convenience and shall not affect, or be used in
connection with, the interpretation of this Agreement. 
 15. Severability. 
 The provisions of this Agreement shall be deemed severable and the invalidity of unenforceability of any provision shall not affect the
validity or enforceability of the other provisions hereof. 
 16. Counterparts. 
 This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will
constitute one and the same instrument. 

 17. Indemnification. 
 The Company hereby agrees to indemnify Executive and hold him harmless to the fullest extent permitted by law and under the bylaws of the
Company against and in respect to any and all actions, suits, proceedings, claims, demands, judgments, costs, expenses (including reasonable attorney’s fees), losses, and damages resulting from Executive’s good faith performance of his
duties and obligations with the Company. 
 18. Governing Law and Venue. 
 The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Minnesota without regard to
its conflicts of law principles. Each party to this Agreement consents to the jurisdiction over it of the courts of the State of Minnesota in the City of Minneapolis, and the United States Courts in the District of Minnesota and agrees that any
personal service of process may be made by registered or certified mail to the notice address as set forth in Section 12 hereof, and as the same may be changed from time to time as provided therein. 
 19. Arbitration. Any dispute or controversy arising under or in connection with this Agreement shall be submitted to arbitration in accordance
with the rules of the American Arbitration Association then in effect in Minneapolis Minnesota before a panel of three (3) arbitrators who shall be knowledgeable in executive employment law, who shall be independent of, and have no ex parte
communications with, the parties or their representatives, and who shall render written findings of fact, conclusions of law and order. In addition to any other inherent powers, arbitrators shall have the express powers to order a party to comply
with or desist from breaching any of the terms of this Agreement. The determination of the arbitrators shall be final and binding upon the parties and may be entered as a final judgment in any court of competent jurisdiction. The parties shall
equally share the costs of arbitration. Nothing herein, however, shall deprive a party of the right to seek equitable relief from the courts to restrain or enjoin the other from a breach this Agreement pending the empanelling of the arbitrators or
their final determination. 
 20. Miscellaneous. 
 No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing
and signed by Executive and such officer or director as may be designated by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be
performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. This Agreement together with all exhibits hereto and the Stock Plan and Stock Option Agreement
sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either
party which are not expressly set forth in this Agreement. Nothing herein, however, is intended to affect the Company’s obligations under a pre-existing agreement between the Company and Assess IT. 

 21. Withholding. 
 The Company may withhold from any and all amounts payable under this Agreement such foreign, federal, state and local taxes as may be
required to be withheld pursuant to any applicable law or regulation. 
 22. Survival. The provisions of Sections 4(e), 9, 10, 11, 13,
19 and 22 shall survive termination of this Agreement for whatever reason. 
 IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the date first written above. 
  

			
	 COMPANY
  
 Virtual Radiologic Corporation

		
	By:	 	/s/ Sean Casey
		 	Name: Sean Casey
		 	Its: Chief Executive Officer
	
	 EXECUTIVE
  
 Richard W. Jennings

		
	By:	 	/s/ Richard W. Jennings    4/2/07

 EXHIBIT A 
 FORM OF RELEASE 
 AGREEMENT AND GENERAL RELEASE 
 Virtual Radiologic Corporation, its affiliates, subsidiaries, divisions, successors and assigns and the current, future and former employees, officers,
directors, trustees and agents thereof (collectively referred to throughout this Agreement as the “Company”) and Richard W. Jennings, his heirs, executors, administrators, successors and assigns (collectively referred to throughout this
Agreement and General Release as “Executive”) agree: 
 1. Last Day of Employment. Executive’s last day
of employment with the Company is [INSERT TERMINATION DATE]. In addition, effective as of [INSERT TERMINATION DATE], Executive resigns from his position as Chief Technology Officer of Virtual Radiologic Corporation and will not be eligible for any
benefits or compensation after [INSERT TERMINATION DATE], other than as specifically provided in the employment agreement between Virtual Radiologic Corporation and Executive dated effective as of DATE (the “Employment Agreement”), subject
to Executive’s executing, delivering and not revoking Appendix 1 hereto. Executive further acknowledges and agrees that, after [INSERT TERMINATION DATE], he will not represent himself as being a director, employee, officer, trustee, agent or
representative of the Company for any purpose and will not make any public statements relating to the Company, other than general statements relating to his position, title or experience with the Company, subject to the confidentiality provision
under Section 10(a) of the Employment Agreement and in no event will Executive make any statements as an agent or representative of the Company. In addition, effective as of [INSERT TERMINATION DATE], Executive resigns from all offices,
directorships, trusteeships, committee memberships and fiduciary capacities held with, or on behalf of, the Company or any benefit plans of the Company. These resignations will become irrevocable as set forth in Section 3 below. 
 2. Consideration. The parties acknowledge that this Agreement and General Release is being executed in accordance with
Section 9 of the Employment Agreement. 
 3. Revocation. Executive may revoke this Agreement and General Release
for a period of                      calendar days following the day he executes this Agreement and General Release. Any revocation within
this period must be submitted, in writing, to Virtual Radiologic Corporation and state, “I hereby revoke my acceptance of our Agreement and General Release.” The revocation must be personally delivered to Sean Casey, Chief Executive
Officer, or his/her designee, or mailed to Virtual Radiologic Corporation at 5995 Opus Parkway, Suite 200, Minnetonka, MN, 55343, or the Company’s then current regular business address, and postmarked within seven (7) calendar days of
execution of this Agreement and General Release. This Agreement and General Release shall not become effective or enforceable until the revocation period has expired. If the last day of the revocation period is a Saturday, Sunday, or legal holiday
in the State of Minnesota, then the revocation period shall not expire until the next following day which is not a Saturday, Sunday, or legal holiday. 

 4. General Release of Claim. Executive knowingly and voluntarily releases and
forever discharges the Company from any and all claims, causes of action, demands, fees and liabilities of any kind whatsoever, whether known and unknown, against the Company, Executive has, has ever had or may have as of the date of execution of
this Agreement and General Release, including, but not limited to, any alleged violation of: 
  

	 	•	 	 The National Labor Relations Act, as amended; 

  

	 	•	 	 Title VII of the Civil Rights Act of 1964, as amended; 

  

	 	•	 	 The Civil Rights Act of 1991; 

  

	 	•	 	 Sections 1981 through 1988 of Title 42 of the United States Code, as amended; 

  

	 	•	 	 The Employee Retirement Income Security Act of 1974, as amended; 

  

	 	•	 	 The Immigration Reform and Control Act, as amended; 

  

	 	•	 	 The Americans with Disabilities Act of 1990, as amended; 

  

	 	•	 	 The Age Discrimination in Employment Act of 1967, as amended; 

  

	 	•	 	 The Older Workers Benefit Protection Act of 1990; 

  

	 	•	 	 The Worker Adjustment and Retraining Notification Act, as amended; 

  

	 	•	 	 The Occupational Safety and Health Act, as amended; 

  

	 	•	 	 The Family and Medical Leave Act of 1993; 

  

	 	•	 	 The Minnesota Civil Rights Act, as amended; 

  

	 	•	 	 The Minnesota Minimum Wage Law, as amended; 

  

	 	•	 	 Equal Pay Law for Minnesota, as amended; 

  

	 	•	 	 Any other foreign, federal, state or local civil or human rights law or any other local, state, federal or foreign law, regulation or ordinance;

  

	 	•	 	 Any public policy, contract, tort, or common law; or 

  

	 	•	 	 Any allegation for costs, fees, or other expenses including attorneys’ fees incurred in these matters. 

 Notwithstanding anything herein to the contrary, the sole matters to which this Agreement and General Release do not apply are: (i) Executive’s rights of
indemnification and directors and officers liability insurance coverage, if any, to which he was entitled immediately prior to 

 
[INSERT TERMINATION DATE] with regard to his service as an officer of the Company; (ii) Executive’s rights under any tax-qualified pension or
claims for accrued vested benefits under any other employee benefit plan, policy or arrangement maintained by the Company or under COBRA; (iii) Executive’s rights under the provisions of the Employment Agreement which are intended to
survive termination of employment; or (iv) Executive’s rights as a stockholder. 
 5. No Claims Permitted.
Executive waives his right to file any charge or complaint against the Company arising out of his employment with or separation from the Company before any foreign, federal, state or local court or any foreign, federal, state or local administrative
agency, except where such waivers are prohibited by law. This Agreement and General Release, however, does not prevent Executive from filing a charge with the Equal Employment Opportunity Commission, any other federal government agency, and/or any
government agency concerning claims of discrimination, although Executive waives his right to recover any damages or other relief in any claim or suit brought by or through the Equal Employment Opportunity Commission or any other state or local
agency on behalf of Executive under the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964 as amended, the Americans with Disabilities Act, or any other federal or state discrimination law, except where such waivers are
prohibited by law. 
 6. Affirmations. Executive affirms he has not filed, has not caused to be filed, and is not
presently a party to, any claim, complaint, or action against the Company in any forum or form. Executive further affirms that he has been paid and/or has received all compensation, wages, bonuses, commissions, and/or benefits to which he may be
entitled and no other compensation, wages, bonuses, commissions and/or benefits are due to him, except as provided in the Employment Agreement. Executive also affirms he has no known workplace injuries. 
 7. Confidentiality; Cooperation; Return of Property. Executive agrees not to disclose any information regarding the circumstances
surrounding the cessation of his employment, or the existence, terms, or conditions of this Agreement and General Release, to any person or entity whatsoever, including without limitation, any members of the media (including, but not limited to,
print journalists, newspapers, radio, television, cable, satellite programs, or Internet media) or any Internet web page or “chat room,” or any other entity or person, with the exception of Executive’s spouse, accountant, tax advisor,
and/or attorneys. Notwithstanding the aforementioned provision, nothing herein shall preclude Executive from divulging any information to any agency of the federal, state, or local government pursuant to an official request by such government agency
or pursuant to court order (provided that Executive provides the Company with prior notice of the contemplated disclosure and reasonably cooperates with the Company at its expense in seeking a protective order or other appropriate protection of such
information). Executive agrees to reasonably cooperate with the Company and its counsel in connection with any investigation, administrative proceeding or litigation relating to any matter that occurred during his employment in which he was involved
or of which he has knowledge. The Company will reimburse Executive for any reasonable pre-approved out-of-pocket travel, delivery or similar expenses incurred in providing such service to the Company. Executive represents that he has returned to the
Company all property belonging to the Company, including but not limited to any leased vehicle, laptop, cell phone, keys, access cards, phone cards and credit cards. 

 8. Governing Law and Interpretation. This Agreement and General Release shall be
governed and conformed in accordance with the laws of the State of Minnesota without regard to its conflict of laws provision. In the event Executive or the Company breaches any provision of this Agreement and General Release, Executive and the
Company affirm either may institute an action to specifically enforce any term or terms of this Agreement and General Release. Should any provision of this Agreement and General Release be declared illegal or unenforceable by any court of competent
jurisdiction and should the provision be incapable of being modified to be enforceable, such provision shall immediately become null and void, leaving the remainder of this Agreement and General Release in full force and effect. Nothing herein,
however, shall operate to void or nullify any general release language contained in the Agreement and General Release. 
 9.
Non-admission of Wrongdoing. Executive agrees neither this Agreement and General Release nor the furnishing of the consideration for this Release shall be deemed or construed at any time for any purpose as an admission by the Company of any
liability or unlawful conduct of any kind. 
 10. Amendment. This Agreement and General Release may not be modified,
altered or changed except upon express written consent of both parties wherein specific reference is made to this Agreement and General Release. 
 11. Entire Agreement. This Agreement and General Release sets forth the entire agreement between the parties hereto and fully supersedes any prior agreements or understandings between the parties; provided,
however, that notwithstanding anything in this Agreement and General Release, the provisions in the Employment Agreement which are intended to survive termination of the Employment Agreement, including but not limited to those contained in
Section 10 thereof, shall survive and continue in full force and effect. Executive acknowledges he has not relied on any representations, promises, or agreements of any kind made to him in connection with his decision to accept this Agreement
and General Release. 
 EXECUTIVE HAS BEEN ADVISED THAT HE HAS UP TO TWENTY-ONE (21) CALENDAR DAYS TO REVIEW THIS AGREEMENT AND GENERAL
RELEASE AND HAS BEEN ADVISED IN WRITING TO CONSULT WITH AN ATTORNEY PRIOR TO EXECUTION OF THIS AGREEMENT AND GENERAL RELEASE. 
 EXECUTIVE
AGREES ANY MODIFICATIONS, MATERIAL OR OTHERWISE, MADE TO THIS AGREEMENT AND GENERAL RELEASE DO NOT RESTART OR AFFECT IN ANY MANNER THE ORIGINAL TWENTY-ONE (21) CALENDAR DAY CONSIDERATION PERIOD. 
 HAVING ELECTED TO EXECUTE THIS AGREEMENT AND GENERAL RELEASE, TO FULFILL THE PROMISES SET FORTH HEREIN, AND TO RECEIVE THE SUMS AND BENEFITS IN SET FORTH
IN THE EMPLOYMENT AGREEMENT, EXECUTIVE FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTERS INTO THIS AGREEMENT AND GENERAL RELEASE INTENDING TO WAIVE, SETTLE AND RELEASE ALL CLAIMS HE HAS OR MIGHT HAVE AGAINST EMPLOYER. 

 IN WITNESS WHEREOF, the parties hereto knowingly and voluntarily executed this Agreement and General
Release as of the date set forth below: 
  

			
	Virtual Radiologic Corporation
		
	By:	 	  

  

			
		
	By:	 	  
		 	Richard W. Jennings
		 	Chief Technology Officer

  

	 	Re:	Agreement and General Release 

 Dear Richard: 
 This letter confirms that on [INSERT DATE], I personally sent to you the enclosed Agreement and General Release. You have until [INSERT DATE] to consider
this Agreement and General Release, in which you waive important rights, including those under the Age Discrimination in Employment Act of 1967. To this end, we advise you to consult with an attorney of your choosing prior to executing this
Agreement and General Release. 
  

	
	Regards,
	
	   
	Name:
	Title:

 APPENDIX 1 
 Sean Casey 
 Chief Executive Officer 
 Virutal
Radiologic Corporation 
 5995 Opus Parkway, Suite 200 
 Minnetonka, MN 55343 
  

	 	Re:	Agreement and General Release 

 Dear Dr. Casey, 
 On [INSERT DATE] I executed an Agreement and General Release between Virtual Radiologic Corporation and me. I was advised by Virtual Radiologic
Corporation, in writing, to consult with an attorney of my choosing, prior to executing this Agreement and General Release. 
 More than
seven (7) calendar days have expired since I executed the above-mentioned Agreement and General Release. I have at no time revoked my acceptance or execution of that Agreement and General Release and hereby reaffirm my acceptance of it.
Therefore, in accordance with the terms of our Agreement and General Release, I request payment of the monies and benefits described in the Employment Agreement (as defined in the Agreement and General Release). 
  

			
	Regards,
		
	Signed:	 	  
		 	Richard W. Jennings

 Exhibit B 
 to 
 Virtual Radiologic Corporation 
 Employment Agreement 
 Executive has indicated on this Exhibit all Inventions
(as defined in the Employment Agreement) in which Executive owned any right or interest prior to time Executive became an employee of the Corporation. Executive agrees that any present or future Inventions not listed in this Appendix are subject to
assignment under the attached Employment Agreement. 
  

					
	 Brief Description of
 Inventions
	  	 	  	 Right, Title or Interest
 and Date Acquired

  

	 	1)	Assess IT—A Technology Assessment Framework copyrighted by Assess IT in 2005 consisting of a methodology, a software tool, quantitative scoring algorithms, graphical works, and
reports. Developed by Assess IT and Executive. 

  

	 	2)	Manage IT—A set of Information Technology Project Management procedures, templates, graphical works, and quantitative scoring algorithms. Developed by Assess IT and Executive
in 2005. 

  

	 	3)	Build IT—A software engineering methodology, templates, and tools used to develop software. Developed by Assess IT and Executive in 2005 

  

	 	4)	Audit IT—An information security Audit tool, graphical works, and documents, based on ISO 17799 used to evaluate a company’s information security. Developed by Assess IT
and Executive in 2005 

  

	 	5)	Sox IT Check—A SOX Information Technology controls review tool, graphical works, and templates developed by Assess IT and Executive during 2006. 

  

	 	6)	Trade Name Assess IT—Service mark registered to Assess IT in 2004. 

  

	 	7)	Www.Assess IT.com—domain name and web site associated with Assess IT 

  

	 	8)	ERP Evaluation Tool—a software tool used to perform detailed evaluation of commercial Enterprise Resource Planning (ERP) software packages. Developed by Assess IT and Executive
in 2006. 

  

	 	9)	Technology Master Plan Tool—a methodology and set of templates for using a company’s business strategy to drive multi-quarters of technology planning for technology
products, platforms, business management systems, and infrastructure. 

 Together with all rights of the following types associated with the items enumerated above owned by Executive or Assess
IT (a trade name of RWJ, Inc. a California corporation): (a) rights associated with works of authorship, including exclusive exploitation rights, copyrights, and moral rights; (b) trademark and trade name rights, service marks, and similar
rights; (c) trade secret rights; (d) patents and industrial property rights; (e) other proprietary rights in intellectual property of every kind and nature; and (f) all registrations, renewals, extensions, continuations,
divisions, or reissues of, and applications for, any of the rights referred to in clauses (a) through (e) above.

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