Document:

EXHIBIT 10.5

                                                                  EXECUTION COPY

                                  $200,000,000

                               Chemed Corporation

                1.875% Convertible Senior Notes due May 15, 2014

                          REGISTRATION RIGHTS AGREEMENT

                                                                    May 14, 2007

J.P. Morgan Securities Inc.
277 Park Avenue
9th Floor
New York, New York 10172

Citigroup Global Markets Inc.
390 Greenwich Street
New York, New York 10013

Ladies and Gentlemen:

         This Registration Rights Agreement (the "AGREEMENT") is made and
entered into as of May 14, 2007, by and among Chemed Corporation, a Delaware
corporation (the "COMPANY"), the Guarantors (as defined below) and J.P. Morgan
Securities Inc. and Citigroup Global Markets Inc. (the "REPRESENTATIVES"), as
the Representatives of the initial purchasers (the "INITIAL PURCHASERS") listed
on Schedule 1 to the purchase agreement dated as of May 8, 2007 among the
Company, the Guarantors and the Initial Purchasers (the "PURCHASE AGREEMENT").

         As an inducement to the Initial Purchasers to enter into the Purchase
Agreement and in satisfaction of a condition to the obligations of the Initial
Purchasers thereunder, the Company agrees with the Initial Purchasers, for the
benefit of the holders (including the Initial Purchasers) of the Notes and the
Shares (as defined below) (collectively, the "HOLDERS"), as follows:

1.       CERTAIN DEFINITIONS.

         For purposes of this Registration Rights Agreement, the following terms
shall have the following meanings:

     (a) "Additional Interest" has the meaning assigned thereto in Section 2(d).

     (b) "Additional Interest Payment Date" has the meaning assigned thereto in
Section 2(d).
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     (c) "Agreement" means this Registration Rights Agreement, as the same may
be amended from time to time pursuant to the terms hereof.

     (d) "Closing Date" means the date on which any Notes are initially issued.

     (e) "Commission" means the Securities and Exchange Commission, or any other
federal agency at the time administering the Exchange Act or the Securities Act,
whichever is the relevant statute for the particular purpose.

     (f) "Company" has the meaning specified in the first paragraph of this
Agreement.

     (g) "Deferral Notice" has the meaning assigned thereto in Section 3(b).

     (h) "Deferral Period" has the meaning assigned thereto in Section 3(b).

     (i) "Effective Period" has the meaning assigned thereto in Section 2(a).

     (j) "Exchange Act" means the  Securities  Exchange Act of 1934, as amended,
and the rules and regulations promulgated thereunder.

     (k) "Guarantors" means all of the domestic subsidiaries of the Company that
are signatories hereto and all of the direct and indirect future domestic
subsidiaries of the Company who execute a supplemental indenture in order to
become Guarantors in accordance with the terms of the Indenture.

     (l) "Guarantees" means the full and unconditional unsecured unsubordinated
guarantees by the Guarantors of the Notes in accordance with the terms of the
Indenture.

     (m) "Holder" means each holder, from time to time, of Registrable
Securities (including the Initial Purchasers).

     (n) "Indenture" means the Indenture dated as of May 14, 2007 among the
Company, the Guarantors and LaSalle Bank National Association, as Trustee,
pursuant to which the Notes are being issued.

     (o) "Initial Purchasers" has the meaning specified in the first paragraph
of this Agreement.

     (p) "Material Event" has the meaning assigned thereto in Section 3(a)(iv).

     (q) "Majority Holders" shall mean, on any date, holders of the majority of
the Shares constituting Registrable Securities; for the purposes of this
definition, Holders of Notes constituting Registrable Securities shall be deemed
to be the Holders of the number of Shares into which such Notes are or would be
convertible as of such date.

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<PAGE>

     (r) "NASD" shall mean the National Association of Securities Dealers, Inc.

     (s) "NASD Rules" shall mean the Conduct Rules and the By-Laws of the NASD.

     (t) "Notes" mean the 1.875% Convertible Senior Notes due May 15, 2014, to
be issued under the Indenture and sold by the Company to the Initial Purchasers.

     (u) "Notice and Questionnaire" means a written notice delivered to the
Company containing substantially the information called for by the Form of
Selling Securityholder Notice and Questionnaire attached as Annex A to the
Offering Memorandum.

     (v) "Notice Holder" means, on any date, any Holder that has delivered a
Notice and Questionnaire to the Company on or prior to such date.

     (w) "Offering Memorandum" means the Offering Memorandum dated May 8, 2007
relating to the offer and sale of the Securities.

     (x) "Person" means a corporation, association, partnership, organization,
business, individual, government or political subdivision thereof or
governmental agency.

     (y) "Prospectus" means the prospectus included in any Shelf Registration
Statement, as amended or supplemented by any amendment or prospectus supplement,
including post-effective amendments, and all materials incorporated by reference
or explicitly deemed to be incorporated by reference in such Prospectus.

     (z) "Purchase Agreement" has the meaning specified in the first paragraph
of this Agreement.

     (aa) "Registrable Securities" means

               (a)  the Notes, including the Guarantees, until the earliest of
                    (i) their effective registration under the Securities Act
                    and the resale of all such Notes in accordance with the
                    Shelf Registration Statement, (ii) the expiration of the
                    holding period applicable to Notes held by persons who are
                    not affiliates of the Company under Rule 144(k) or any
                    successor provision or similar provisions then in effect,
                    (iii) the date on which all such Notes are freely
                    transferable by persons who are not affiliates of the
                    Company without registration under the Securities Act or
                    (iv) the date on which all such Notes have been converted or
                    otherwise cease to be outstanding;

               (b)  the Shares, if any, issuable upon conversion of the Notes,
                    until the earliest of (i) their effective registration under
                    the Securities Act and the resale of all such Shares in
                    accordance with the Shelf Registration Statement, (ii) the
                    expiration of the holding period applicable to Shares held
                    by persons who are not affiliates of the Company under Rule
                    144(k), (iii) the date on which all such Shares are freely
                    transferable by persons who are not affiliates of the
                    Company without registration under the Securities Act or
                    (iv) the date on which all such Shares cease to be
                    outstanding.

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<PAGE>

     (bb) "Registration Default" has the meaning assigned thereto in Section
          2(d).

     (cc) "Registration Expenses" has the meaning assigned thereto in Section 5.

     (dd) "Rule 144," "Rule 405" and "Rule 415" mean, in each case, such rule as
          promulgated under the Securities Act.

     (ee) "Securities" means, collectively, the Notes, the Guarantees and the
          Shares.

     (ff) "Securities Act" means the Securities Act of 1933, as amended, and the
          rules and regulations promulgated thereunder.

     (gg) "Shares" means the shares of capital stock of the Company, par value
          $1.00 per share, into which the Notes are convertible or that have
          been issued upon any conversion from Notes into capital stock of the
          Company.

     (hh) "Shelf Registration Statement" means the shelf registration statement
          referred to in Section 2(a), as amended or supplemented by any
          amendment or supplement, including post-effective amendments, and all
          materials incorporated by reference or explicitly deemed to be
          incorporated by reference in such Shelf Registration Statement.

          (ii) "Special Counsel" shall have the meaning assigned thereto in
               Section 5.

          (jj) "Trust Indenture Act" means the Trust Indenture Act of 1939, as
               amended, or any successor thereto, and the rules, regulations and
               forms promulgated thereunder, all as the same shall be amended
               from time to time.

          (kk) "Trustee" shall have the meaning assigned such term in the
               Indenture.

         Unless the context otherwise requires, any reference herein to a
"Section" or "clause" refers to a Section or clause, as the case may be, of this
Agreement, and the words "herein," "hereof" and "hereunder" and other words of
similar import refer to this Agreement as a whole and not to any particular
Section or other subdivision. Unless the context otherwise requires, any
reference to a statute, rule or regulation refers to the same (including any
successor statute, rule or regulation thereto) as it may be amended from time to
time.

2. REGISTRATION UNDER THE SECURITIES ACT.

               (a) The Company and the Guarantors agree to file under the
          Securities Act, or otherwise designate an existing registration
          statement previously filed with the Commission, within 120 days after
          the Closing Date a shelf registration statement providing for the
          registration of, and the sale on a continuous or delayed basis by the
          Holders of, all of the Registrable Securities, and, if necessary by
          the Company of all of the Shares, pursuant to Rule 415 or any similar
          rule that may be adopted by the Commission. The Company and the
          Guarantors agree to use their commercially reasonable efforts to cause
          the Shelf Registration Statement to become or be declared effective
          within 180 days after the Closing Date (unless such Shelf Registration
          Statement is a previously filed registration statement that is
          effective at the time it is so designated) and to keep such Shelf
          Registration Statement continuously effective until each of the
          Registrable Securities covered by the Shelf Registration Statement
          ceases to be a Registrable Security (the "Effective Period"). None of
          the Company's or any Guarantor's securityholders (other than Holders
          of Registrable Securities) shall have the right to include any of the
          Company's securities in the Shelf Registration Statement.

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<PAGE>

               (b) The Company and each Guarantor further agrees that they shall
          cause the Shelf Registration Statement and the related Prospectus and
          any amendment or supplement thereto, as of the effective date of the
          Shelf Registration Statement or such amendment or supplement, (i) to
          comply in all material respects with the applicable requirements of
          the Securities Act; and (ii) not to contain any untrue statement of a
          material fact or omit to state a material fact required to be stated
          therein or necessary in order to make the statements therein (in the
          case of the Prospectus, in the light of the circumstances under which
          they were made) not misleading, and the Company agrees to furnish to
          the Holders of the Registrable Securities copies of any supplement or
          amendment prior to its being used or promptly following its filing
          with the Commission; PROVIDED, HOWEVER, that the Company shall have no
          obligation to deliver to Holders of Registrable Securities copies of
          any amendment consisting exclusively of an Exchange Act report or
          other Exchange Act filing otherwise publicly available on the
          Company's website. If the Shelf Registration Statement, as amended or
          supplemented from time to time, ceases to be effective for any reason
          at any time during the Effective Period (other than because all
          Registrable Securities registered thereunder shall have been sold
          pursuant thereto or shall have otherwise ceased to be Registrable
          Securities), the Company and each Guarantor shall use their
          commercially reasonable efforts to obtain the prompt withdrawal of any
          order suspending the effectiveness (or designation) thereof.

               (c) Each Holder of Registrable Securities agrees that if such
          Holder wishes to sell Registrable Securities pursuant to the Shelf
          Registration Statement and related Prospectus, it will do so only in
          accordance with this Section 2(c) and Section 3(b). From and after the
          date the Shelf Registration Statement is declared effective (or
          designated if such Shelf Registration Statement is effective at the
          time it is so designated), the Company and each Guarantor shall, as
          promptly as is practicable after the date a Notice and Questionnaire
          is delivered, and in any event within five (5) Business Days after
          such date,

                    (i) if required by applicable law, file with the Commission
               a post-effective amendment to the Shelf Registration Statement or
               prepare and, if required by applicable law, file a supplement to
               the related Prospectus or a supplement or amendment to any
               document incorporated therein by reference or file any other
               required document so that the Holder delivering such Notice and
               Questionnaire is named as a selling security holder in the Shelf
               Registration Statement and the related Prospectus in such a
               manner as to permit such Holder to deliver such Prospectus to
               purchasers of the Registrable Securities in accordance with
               applicable law and, if the Company and each Guarantor shall file
               a post-effective amendment to the Shelf Registration Statement,
               use their commercially reasonable efforts to cause such
               post-effective amendment to be declared effective under the
               Securities Act as promptly as is practicable;

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<PAGE>

                    (ii) provide such Holder copies of any documents filed
               pursuant to Section 2(c)(i); and

                    (iii) notify such Holder as promptly as practicable after
               the effectiveness (or designation) under the Securities Act of
               any post-effective amendment filed pursuant to Section 2(c)(i);

         PROVIDED, that if such Notice and Questionnaire is delivered during a
         Deferral Period, the Company shall so inform the Holder delivering such
         Notice and Questionnaire and shall take the actions set forth in
         clauses (i), (ii) and (iii) above within 5 days after expiration of the
         Deferral Period in accordance with Section 3(b). Notwithstanding the
         foregoing, the Company will not be required to file more than one
         post-effective amendment or supplement to the related prospectus during
         any 30-day period. Notwithstanding anything contained herein to the
         contrary, the Company shall be under no obligation to name any Holder
         that is not a Notice Holder as a selling securityholder in any Shelf
         Registration Statement or related Prospectus; PROVIDED, HOWEVER, that
         any Holder that becomes a Notice Holder pursuant to the provisions of
         this Section 2(c) (whether or not such Holder was a Notice Holder at
         the time the Shelf Registration Statement was declared effective) shall
         be named as a selling securityholder in the Shelf Registration
         Statement or related Prospectus in accordance with the requirements of
         this Section 2(c).

               (d) If any of the following events (any such event a
          "Registration Default") shall occur, then additional interest (the
          "Additional Interest") shall become payable by the Company and each
          Guarantor to Holders in respect of the Notes as follows:

                    (i) if the Shelf Registration Statement is not filed with
               the Commission or an existing Shelf Registration Statement is not
               designated within 120 days following the Closing Date, then
               commencing on the 121st day after the Closing Date, Additional
               Interest shall accrue on the principal amount of the outstanding
               Notes that are Registrable Securities at a rate of 0.25% per
               annum for the first 90 days following such 121st day and at a
               rate of 0.5% per annum thereafter; or

                    (ii) if the Shelf Registration Statement is not declared
               effective by the Commission or an existing effective Shelf
               Registration Statement is not designated within 180 days
               following the Closing Date, then commencing on the 181st day
               after the Closing Date, Additional Interest shall accrue on the
               principal amount of the outstanding Notes that are Registrable
               Securities at a rate of 0.25% per annum for the first 90 days
               following such 181st day and at a rate of 0.5% per annum
               thereafter; or

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<PAGE>

                    (iii) if the Shelf Registration Statement has been declared
               effective but such Shelf Registration Statement ceases to be
               effective at any time during the Effective Period (other than
               pursuant to Section 3(b) hereof), then commencing on the day such
               Shelf Registration Statement ceases to be effective, Additional
               Interest shall accrue on the principal amount of the outstanding
               Notes that are Registrable Securities at a rate of 0.25% per
               annum for the first 90 days following such date on which the
               Shelf Registration Statement ceases to be effective and at a rate
               of 0.5% per annum thereafter; or

                    (iv) if the aggregate duration of Deferral Periods in any
               period exceeds the number of days permitted in respect of such
               period pursuant to Section 3(b) hereof, then commencing on the
               day the aggregate duration of Deferral Periods in any period
               exceeds the number of days permitted in respect of such period
               (and again on the first day of any subsequent Deferral Period
               during such period), Additional Interest shall accrue on the
               principal amount of the outstanding Notes that are Registrable
               Securities at a rate of 0.25% per annum for the first 90 days and
               at a rate of 0.5% per annum thereafter;

PROVIDED, HOWEVER, that the Additional Interest rate on the Notes shall not
exceed in the aggregate 0.5% per annum and shall not be payable under more than
one clause above for any given period of time, except that if Additional
Interest would be payable under more than one clause above, but at a rate of
0.25% per annum under one clause and at a rate of 0.5% per annum under the
other, then the Additional Interest rate shall be the higher rate of 0.5% per
annum; PROVIDED FURTHER, however, that (1) upon the filing or designation of the
Shelf Registration Statement (in the case of clause (i) above), (2) upon the
effectiveness (or designation) of the Shelf Registration Statement (in the case
of clause (ii) above), (3) upon the effectiveness (or designation) of the Shelf
Registration Statement which had ceased to remain effective (in the case of
clause (iii) above), (4) upon the termination of the Deferral Period that caused
the limit on the aggregate duration of Deferral Periods in a period set forth in
Section 3(b) to be exceeded (in the case of clause (iv) above), (5) upon the
termination of certain transfer restrictions on the Notes as a result of the
application of Rule 144(k) or any successor provision, (6) for any period after
the second anniversary from the Closing Date, or (7) at the time the Notes cease
to be Registrable Securities, Additional Interest on the Notes as a result of
such clause, as the case may be, shall cease to accrue.

     Notwithstanding the foregoing, no Additional Interest or other amounts will
be payable in respect of Shares in the event of a Registration Default, even if
such Shares are Registrable Securities.

     Additional Interest on the Notes, if any, will be payable in cash on May 15
and November 15 of each year (the "Additional Interest Payment Date") to holders
of record of outstanding Notes that are Registrable Securities at the close of
business on May 1 or November 1, as the case may be, immediately preceding the
relevant interest payment date, PROVIDED that any Additional Interest accrued
with respect to any Notes or portion thereof called for redemption on a
redemption date or converted into Shares on a conversion date prior to an
Additional Interest Payment Date shall, in any such event, be paid instead to
the Holder who submitted such Notes or portion thereof for redemption or
conversion on the applicable redemption date or conversion date, as the case may
be, on such date (or promptly following the conversion date, in the case of
conversion). Following the cure of all Registration Defaults requiring the
payment of Additional Interest to the Holders of Notes that are Registrable
Securities pursuant to this Section, the accrual of Additional Interest will
cease (without in any way limiting the effect of any subsequent Registration
Default requiring the payment of Additional Interest).

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<PAGE>

     The Company shall notify the Trustee immediately upon the happening of each
and every Registration Default. The Trustee shall be entitled, on behalf of
Holders of Securities, to seek any available remedy for the enforcement of this
Agreement, including for the payment of any Additional Interest. Notwithstanding
the foregoing, the parties agree that the sole monetary damages payable for a
violation of the terms of this Agreement with respect to which additional
monetary amounts are expressly provided shall be as set forth in this Section
2(d). Nothing shall preclude a Notice Holder or Holder of Registrable Securities
from pursuing specific performance or other equitable relief with respect to
this Agreement.

          (e) Although the Company is required by this Agreement to register the
     Registrable Securities, including Shares issued upon conversion of the
     Notes, for resale, the Company will not be required to issue registered
     shares upon conversion of the Notes.

3. REGISTRATION PROCEDURES.

     The following provisions shall apply to the Shelf Registration Statement
filed pursuant to Section 2:

     (a) The Company and each Guarantor shall:

          (i) prepare and file with the Commission a registration statement with
     respect to the shelf registration on any form which may be utilized by the
     Company or designate an existing effective registration statement and
     which, in each case, shall permit the disposition of the Registrable
     Securities in accordance with the intended method or methods thereof, as
     specified in writing by the Holders of the Registrable Securities, and use
     commercially reasonable efforts to cause such registration statement to
     become effective in accordance with Section 2(a) above;

          (ii) before filing or designating any Shelf Registration Statement or
     Prospectus or any amendments or supplements thereto with the Commission,
     furnish to each Initial Purchaser copies of all such documents proposed to
     be filed and use commercially reasonable efforts to reflect in each such
     document when so filed with the Commission such comments as such Initial
     Purchaser reasonably shall propose within three (3) Business Days of the
     delivery of such copies to such Initial Purchaser;

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<PAGE>

          (iii) use its commercially reasonable efforts to prepare and file with
     the Commission such amendments and post-effective amendments to the Shelf
     Registration Statement and file with the Commission any other required
     document as may be necessary to keep such Shelf Registration Statement
     continuously effective until the expiration of the Effective Period; cause
     the related Prospectus to be supplemented by any required prospectus
     supplement, and as so supplemented to be filed pursuant to Rule 424 (or any
     similar provisions then in force) under the Securities Act; and comply with
     the provisions of the Securities Act applicable to it with respect to the
     disposition of all Securities covered by such Shelf Registration Statement
     during the Effective Period in accordance with the intended methods of
     disposition by the sellers thereof set forth in such Shelf Registration
     Statement as so amended or such Prospectus as so supplemented;

          (iv) promptly notify the Notice Holders of Registrable Securities (A)
     when such Shelf Registration Statement or the Prospectus included therein
     or any amendment or supplement to the Prospectus or post-effective
     amendment has been filed with the Commission or designated, and, with
     respect to such Shelf Registration Statement or any post-effective
     amendment, when the same has become effective, (B) of any request,
     following the effectiveness (or designation) of the Shelf Registration
     Statement, by the Commission or any other Federal or state governmental
     authority for amendments or supplements to the Shelf Registration Statement
     or related Prospectus or for additional information, (C) of the issuance by
     the Commission of any stop order suspending the effectiveness of such Shelf
     Registration Statement or the initiation or written threat of any
     proceedings for that purpose, (D) of the receipt by the Company or any
     Guarantor of any notification with respect to the suspension of the
     qualification of the Registrable Securities for sale in any jurisdiction or
     the initiation or written threat of any proceeding for such purpose, (E) of
     the occurrence of (but not the nature of or details concerning) any event
     or the existence of any fact (a "Material Event") as a result of which any
     Shelf Registration Statement shall contain any untrue statement of a
     material fact or omit to state any material fact required to be stated
     therein or necessary to make the statements therein not misleading, or any
     Prospectus shall contain any untrue statement of a material fact or omit to
     state any material fact required to be stated therein or necessary to make
     the statements therein, in the light of the circumstances under which they
     were made, not misleading (PROVIDED, HOWEVER, that no notice by the Company
     shall be required pursuant to this clause (E) in the event that the Company
     either promptly files a prospectus supplement to update the Prospectus or a
     Form 8-K or other appropriate Exchange Act report that is incorporated by
     reference into the Shelf Registration Statement, which, in either case,
     contains the requisite information with respect to such Material Event that
     results in such Shelf Registration Statement no longer containing any
     untrue statement of material fact or omitting to state a material fact
     necessary to make the statements contained therein not misleading), (F) of
     the determination by the Company that a post-effective amendment to the
     Shelf Registration Statement will be filed with the Commission, which
     notice may, at the discretion of the Company (or as required pursuant to
     Section 3(b)), state that it constitutes a Deferral Notice, in which event
     the provisions of Section 3(b) shall apply or (G) at any time when a
     Prospectus is required to be delivered under the Securities Act, that the
     Shelf Registration Statement, Prospectus, Prospectus amendment or
     supplement or post-effective amendment does not conform in all material
     respects to the applicable requirements of the Securities Act and the Trust
     Indenture Act and the rules and regulations of the Commission thereunder;

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          (v) prior to any public offering of the Registrable Securities
     pursuant to the Shelf Registration Statement, use its commercially
     reasonable efforts to register or qualify, or cooperate with the Notice
     Holders of Securities included therein and their respective counsel in
     connection with the registration or qualification of, such Securities for
     offer and sale under the securities or blue sky laws of such jurisdictions
     within the United States as any such Notice Holders reasonably requests in
     writing and do any and all other acts or things necessary or advisable to
     enable the offer and sale in such jurisdictions of the Securities covered
     by the Shelf Registration Statement; prior to any public offering of the
     Registrable Securities pursuant to the Shelf Registration Statement, use
     its commercially reasonable efforts to keep each such registration or
     qualification (or exemption therefrom) effective during the Effective
     Period in connection with such Notice Holder's offer and sale of
     Registrable Securities pursuant to such registration or qualification (or
     exemption therefrom) and do any and all other acts or things necessary or
     advisable to enable the disposition in such jurisdictions of such
     Registrable Securities in the manner set forth in the Shelf Registration
     Statement and the related Prospectus; PROVIDED that the Company will not be
     required to qualify generally to do business in any jurisdiction where it
     is not then so qualified or to take any action which would subject it to
     general service of process or to taxation in any such jurisdiction where it
     is not then so subject;

          (vi) use its commercially reasonable efforts to prevent the issuance
     of, and if issued, to obtain the withdrawal of any order suspending the
     effectiveness of the Shelf Registration Statement or any post-effective
     amendment thereto, and to lift any suspension of the qualification of any
     of the Registrable Securities for sale in any jurisdiction in which they
     have been qualified for sale, in each case at the earliest practicable
     date;

          (vii) upon reasonable notice, for a reasonable period prior to the
     filing or designation of the Shelf Registration Statement, and throughout
     the Effective Period, (i) make reasonably available for inspection by a
     representative of, and Special Counsel acting for, Majority Holders of the
     Securities being sold and any underwriter (and its counsel) participating
     in any disposition of Securities pursuant to such Shelf Registration
     Statement, all relevant financial and other records, pertinent corporate
     documents and properties of the Company and its subsidiaries and (ii) use
     commercially reasonable efforts to have their officers, directors,
     employees, accountants and counsel supply all relevant information
     reasonably requested by such representative, Special Counsel or any such
     underwriter in connection with such Shelf Registration Statement;

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<PAGE>

          (viii) in connection with an underwritten offering pursuant to the
     Shelf Registration Statement with an aggregate public offering price of at
     least $20 million, if requested by Majority Holders of the Securities being
     sold in such underwriting, its Special Counsel or the managing
     underwriters, use its commercially reasonable efforts to cause (i) its
     counsel to deliver an opinion relating to the Shelf Registration Statement
     and the Securities in customary form, (ii) its officers to execute and
     deliver all customary documents and certificates reasonably requested by
     the Majority Holders of the Securities being sold, their Special Counsel or
     the managing underwriters (if any) and (iii) its independent public
     accountants to provide a comfort letter or letters in customary form,
     subject to receipt of appropriate documentation as contemplated, and only
     if permitted, by Statement of Auditing Standards No. 72; PROVIDED, that
     such underwritten offering is subject to the consent of the Company, such
     consent not to be unreasonably withheld;

          (ix) if reasonably requested by any Initial Purchaser or any Notice
     Holder, promptly incorporate in a prospectus supplement or post-effective
     amendment to the Shelf Registration Statement such information as such
     Initial Purchaser or such Notice Holder shall, on the basis of a written
     opinion of nationally-recognized counsel experienced in such matters,
     determine to be required to be included therein by applicable law and make
     any required filings of such prospectus supplement or such post-effective
     amendment; PROVIDED, that the Company shall not be required to take any
     actions under this Section 3(a)(ix) that are not, in the reasonable opinion
     of counsel for the Company, in compliance with applicable law;

          (x) promptly furnish to each Notice Holder and each Initial Purchaser,
     upon their request and without charge, at least one (1) conformed copy of
     the Shelf Registration Statement and any amendments thereto, including
     financial statements but excluding schedules, all documents incorporated or
     deemed to be incorporated therein by reference and all exhibits; PROVIDED,
     HOWEVER, that the Company shall have no obligation to deliver to Notice
     Holders or the Initial Purchasers a copy of any amendment publicly
     available on the Company's website;

          (xi) during the Effective Period, deliver to each Notice Holder in
     connection with any sale of Registrable Securities pursuant to the Shelf
     Registration Statement, without charge, as many copies of the Prospectus
     relating to such Registrable Securities (including each preliminary
     prospectus) and any amendment or supplement thereto as such Notice Holder
     may reasonably request; and the Company hereby consents (except during such
     periods that a Deferral Notice is outstanding and has not been revoked) to
     the use of such Prospectus or each amendment or supplement thereto by each
     Notice Holder in connection with any offering and sale of the Registrable
     Securities covered by such Prospectus or any amendment or supplement
     thereto in the manner set forth therein; and

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<PAGE>

          (xii) cooperate with the Notice Holders of Securities to facilitate
     the timely preparation and delivery of certificates representing Securities
     to be sold pursuant to the Shelf Registration Statement free of any
     restrictive legends and in such denominations and registered in such names
     as the Holders thereof may request in writing at least two business days
     prior to sales of Securities pursuant to such Shelf Registration Statement.

     (b) Upon (A) the issuance by the Commission of a stop order suspending the
effectiveness of the Shelf Registration Statement or the initiation of
proceedings with respect to the Shelf Registration Statement under Section 8(d)
or 8(e) of the Securities Act, (B) the occurrence of any event or the existence
of any Material Event as a result of which the Shelf Registration Statement
shall contain any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the statements
therein not misleading, or any Prospectus shall contain any untrue statement of
a material fact or omit to state any material fact required to be stated therein
or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading, or (C) the occurrence or existence
of any corporate development that, in the discretion of the Company, makes it
appropriate to suspend the availability of the Shelf Registration Statement and
the related Prospectus, the Company will (i) in the case of clause (B) above,
subject to the third sentence of this provision, as promptly as practicable
prepare and file a post-effective amendment to such Shelf Registration Statement
or a supplement to the related Prospectus or any document incorporated therein
by reference or file any other required document that would be incorporated by
reference into such Shelf Registration Statement and Prospectus so that such
Shelf Registration Statement does not contain any untrue statement of a material
fact or omit to state any material fact required to be stated therein or
necessary to make the statements therein not misleading, and such Prospectus
does not contain any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made, not
misleading, as thereafter delivered to the purchasers of the Registrable
Securities being sold thereunder, and, in the case of a post-effective amendment
to the Shelf Registration Statement, subject to the third sentence of this
provision, use commercially reasonable efforts to cause it to be declared
effective as promptly as is practicable, and (ii) give notice to the Notice
Holders that the availability of the Shelf Registration Statement is suspended
(a "Deferral Notice"). Upon receipt of any Deferral Notice, each Notice Holder
agrees not to sell any Registrable Securities pursuant to the Shelf Registration
Statement until such Notice Holder's receipt of copies of the supplemented or
amended Prospectus provided for in clause (i) above, or until it is advised in
writing by the Company that the Prospectus may be used, and has received copies
of any additional or supplemental filings that are incorporated or deemed
incorporated by reference in such Prospectus. The Company and each Guarantor
will use its commercially reasonable efforts to ensure that the use of the
Prospectus may be resumed (x) in the case of clause (A) above, as promptly as
practicable, (y) in the case of clause (B) above, as soon as, in the sole
judgment of the Company, public disclosure of such Material Event would not be
prejudicial to or contrary to the interests of the Company or, if necessary to
avoid unreasonable burden or expense, as soon as practicable thereafter and (z)
in the case of clause (C) above, as soon as, in the discretion of the Company,
such suspension is no longer appropriate; PROVIDED that the period during which
the availability of the Shelf Registration Statement and any Prospectus is
suspended (the "Deferral Period"), without the Company incurring any obligation
to pay Additional Interest pursuant to Section 2(d), shall not exceed thirty
(30) days in the aggregate in any fiscal quarter or ninety (90) days in the
aggregate in any twelve (12) month period.

                                       12
<PAGE>

     (c) Each Holder of Registrable Securities agrees that upon receipt of any
Deferral Notice from the Company, such Holder shall forthwith discontinue (and
cause any placement or sales agent or underwriters acting on their behalf to
discontinue) the disposition of Registrable Securities pursuant to the
registration statement applicable to such Registrable Securities until such
Holder (i) shall have received copies of such amended or supplemented Prospectus
and, if so directed by the Company, such Holder shall deliver to the Company (at
the Company's expense) all copies, other than permanent file copies, then in
such Holder's possession of the Prospectus covering such Registrable Securities
at the time of receipt of such notice or (ii) shall have received notice from
the Company that the disposition of Registrable Securities pursuant to the Shelf
Registration may continue.

     (d) The Company may require each Holder of Registrable Securities as to
which any registration pursuant to Section 2(a) is being effected to furnish to
the Company such information regarding such Holder and such Holder's intended
method of distribution of such Registrable Securities as the Company may from
time to time reasonably request in writing, but only to the extent that such
information is required in order to comply with the Securities Act. Each such
Holder agrees to notify the Company as promptly as practicable of any inaccuracy
or change in information previously furnished by such Holder to the Company or
of the occurrence of any event in either case as a result of which any
Prospectus relating to such registration contains or would contain an untrue
statement of a material fact regarding such Holder or such Holder's intended
method of disposition of such Registrable Securities or omits to state any
material fact regarding such Holder or such Holder's intended method of
disposition of such Registrable Securities required to be stated therein or
necessary to make the statements therein not misleading, and promptly to furnish
to the Company any additional information required to correct and update any
previously furnished information or required so that such Prospectus shall not
contain, with respect to such Holder or the disposition of such Registrable
Securities, an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein
not misleading.

     (e) The Company and each Guarantor shall comply with all applicable rules
and regulations of the Commission and make generally available to its
securityholders earning statements (which need not be audited) satisfying the
provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or
any similar rule promulgated under the Securities Act) no later than 40 days
after the end of any 12-month period (or 75 days after the end of any 12-month
period if such period is a fiscal year) commencing on the first day of the first
fiscal quarter of the Company commencing after the effective date of the Shelf
Registration Statement, which statements shall cover said 12-month periods.

                                       13
<PAGE>

     (f) The Company shall provide a CUSIP number for all Registrable Securities
covered by the Shelf Registration Statement not later than the effective date of
such Shelf Registration Statement and provide the Trustee for the Notes and the
transfer agent for the Shares with printed certificates for the Registrable
Securities that are in a form eligible for deposit with The Depository Trust
Company.

     (g) The Company and each Guarantor shall use its commercially reasonable
efforts to provide such information as is required for any filings required to
be made with the National Association of Securities Dealers, Inc.

     (h) Until the expiration of the Effectiveness Period, the Company will not,
and will not permit any of its controlled "affiliates" (as defined in Rule 144)
to, resell any of the Securities that have been reacquired by any of them except
pursuant to an effective registration statement under the Securities Act.

     (i) The Company and each of the Guarantors shall cause the Indenture to be
qualified under the Trust Indenture Act in a timely manner.

4. HOLDER'S OBLIGATIONS.

         Each Holder agrees, by acquisition of the Registrable Securities, that
no Holder of Registrable Securities shall be entitled to sell any of such
Registrable Securities pursuant to the Shelf Registration Statement or to
receive a Prospectus relating thereto, unless such Holder has furnished the
Company with a Notice and Questionnaire as required pursuant to Section 2(c)
hereof (including the information required to be included in such Notice and
Questionnaire) and the information set forth in the next sentence. Each Notice
Holder agrees promptly to furnish to the Company all information required to be
disclosed in order to make the information previously furnished to the Company
by such Notice Holder not misleading and any other information regarding such
Notice Holder and the distribution of such Registrable Securities as may be
required to be disclosed in the Shelf Registration Statement under applicable
law or pursuant to Commission comments. Each Holder further agrees not to sell
any Registrable Securities pursuant to the Shelf Registration Statement without
delivering, or causing to be delivered, a Prospectus to the purchaser thereof
and, following termination of the Effective Period, to notify the Company,
within 10 Business Days of a request by the Company, of the amount of
Registrable Securities sold pursuant to the Shelf Registration Statement and, in
the absence of a response, the Company may assume that all of the Holder's
Registrable Securities were so sold.

5. REGISTRATION EXPENSES.

         The Company and each Guarantor agrees to bear and to pay or cause to be
paid promptly upon request being made therefor all expenses incident to the
Company's performance of or compliance with this Agreement, including, but not
limited to, (a) all Commission and any NASD registration and filing fees and
expenses, (b) all fees and expenses in connection with the qualification of the
Securities for offering and sale under the State securities and Blue Sky laws
referred to in Section 3(a)(v) hereof, including reasonable fees and
disbursements of one counsel for the placement agent or underwriters, if any, in
connection with such qualifications, (c) all expenses relating to the
preparation, printing, distribution and reproduction of the Shelf Registration
Statement, the related Prospectus, each amendment or supplement to each of the
foregoing, the certificates representing the Securities and all other documents
relating hereto, (d) fees and expenses of the Trustee under the Indenture, any
escrow agent or custodian, and of the registrar and transfer agent for the
Shares, (e) fees, disbursements and expenses of counsel and independent
certified public accountants of the Company (including the expenses of any
reports required by the Securities Act or the rules and regulations thereunder
to be included or incorporated by reference in the Shelf Registration Statement
or "cold comfort" letters required by or incident to such performance and
compliance) and (f) reasonable fees, disbursements and expenses of one counsel
for the Holders of Registrable Securities retained in connection with the Shelf
Registration Statement, as selected by the Company (unless reasonably objected
to by the Majority Holders of the Registrable Securities being registered, in
which case the Majority Holders shall select such counsel for the
Holders)("Special Counsel"), and fees, expenses and disbursements of any other
Persons, including special experts, retained by the Company in connection with
such registration (collectively, the "Registration Expenses"). To the extent
that any Registration Expenses are incurred, assumed or paid by any Holder of
Registrable Securities or any underwriter or placement agent therefor, the
Company shall reimburse such Person for the full amount of the Registration
Expenses so incurred, assumed or paid promptly after receipt of a documented
request therefor. Notwithstanding the foregoing, the Holders of the Registrable
Securities being registered shall pay all underwriting discounts and commissions
and placement agent fees and commissions attributable to the sale of such
Registrable Securities and the fees and disbursements of any counsel or other
advisors or experts retained by such Holders (severally or jointly), other than
the counsel and experts specifically referred to above.

                                       14
<PAGE>

6. INDEMNIFICATION.

          (a) The Company and each Guarantor agrees to indemnify and hold
     harmless each Holder (including, without limitation, each Initial
     Purchaser), the directors, officers, employees and affiliates of each
     Initial Purchaser and each person who controls such Holder within the
     meaning of either the Act or the Exchange Act against any and all losses,
     claims, damages or liabilities, joint or several, to which they or any of
     them may become subject under the Act, the Exchange Act or other federal or
     state statutory law or regulation, at common law or otherwise, insofar as
     such losses, claims, damages or liabilities (or actions in respect thereof)
     arise out of or are based upon any untrue statement or alleged untrue
     statement of a material fact contained in any such Registration Statement
     or any prospectus forming part thereof or in any amendment or supplement
     thereto, or arise out of or are based upon the omission or alleged omission
     to state therein a material fact required to be stated therein or necessary
     to make the statements therein, in the light of the circumstances under
     which they were made, not misleading, and agrees to reimburse each such
     indemnified party, as incurred, for any legal or other expenses reasonably
     incurred by it in connection with investigating or defending any such loss,
     claim, damage, liability or action; PROVIDED, HOWEVER, that neither the
     Company nor any Guarantor will be liable in any such case to the extent
     that any such loss, claim, damage or liability arises out of or is based
     upon any such untrue statement or alleged untrue statement or omission or
     alleged omission from any such document, in reliance upon and in conformity
     with written information provided by a Holder in its most recent Notice and
     Questionnaire; PROVIDED FURTHER, that with respect to any untrue statement
     or omission of material fact from any related preliminary prospectus, the
     indemnity agreement contained in this Section 6(a) shall not inure to the
     benefit of any Holder from whom the Person asserting any such loss, claim,
     damage or liability purchased the securities concerned, to the extent that
     any such loss, claim, damage or liability of such Holder occurs under the
     circumstance that (y) the untrue statement or omission of a material fact
     from the related preliminary prospectus was corrected in the final
     prospectus unless, in either case, such failure to deliver the final
     Prospectus was a result of non-compliance by the Company with Section 3 and
     (z) there was not sent or given to such Person, at or prior to the written
     confirmation of the sale of such securities to such Person, a copy of the
     final prospectus. This indemnity agreement will be in addition to any
     liability that the Company or any Guarantor may otherwise have.

                                       15
<PAGE>

          (b) Each Holder agrees to indemnify and hold harmless the Company,
     each Guarantor, each of its directors, each of its officers, and each
     person, if any, who controls the Company or any Guarantor within the
     meaning of either the Act or the Exchange Act, against any and all losses,
     claims, damages or liabilities, joint or several, to which the Company or
     any Guarantor may become subject under the Act, the Exchange Act or other
     federal or state statutory law or regulation, at common law or otherwise,
     insofar as such losses, claims, damages or liabilities (or actions in
     respect thereof) arise out of or are based upon any untrue statement or
     alleged untrue statement of a material fact contained in any such
     Registration Statement or any prospectus forming part thereof or in any
     amendment or supplement thereto, or arise out of or are based upon the
     omission or alleged omission to state therein a material fact required to
     be stated therein or necessary to make the statements therein, in the light
     of the circumstances under which they were made, not misleading, but in
     each case only to the extent that the untrue statement or alleged untrue
     statement or omission or alleged omission was made in reliance upon and in
     conformity with any information furnished to the Company by such Holder in
     its most recent Notice and Questionnaire, and agrees to reimburse the
     Company, as incurred, for any legal or other expenses reasonably incurred
     by it in connection with investigating or defending any such loss, claim,
     damage, liability or action PROVIDED, HOWEVER, that no such Holder shall be
     liable for any indemnity claims hereunder in excess of the amount of net
     proceeds received by such Holder from the sale of Securities pursuant to
     such Shelf Registration Statement. This indemnity agreement will be in
     addition to any liability which any such Holder may otherwise have.

          (c) Promptly after receipt by an indemnified party under this Section
     6 of notice of the commencement of any action, such indemnified party will,
     if a claim in respect thereof is to be made against the indemnifying party
     under this Section 6, notify the indemnifying party in writing of the
     commencement thereof; but the failure so to notify the indemnifying party
     (i) will not relieve it from liability under paragraph (a) or (b) above

                                       16
<PAGE>

     unless and to the extent it has been materially prejudiced through the
     forfeiture by the indemnifying party of substantial rights and defenses and
     (ii) will not, in any event, relieve the indemnifying party from any
     obligations to any indemnified party other than the indemnification
     obligation provided in paragraph (a) or (b). If any action shall be brought
     against an indemnified party and it shall have notified the indemnifying
     party thereof, the indemnifying party shall be entitled to appoint counsel
     (including local counsel) of the indemnifying party's choice at the
     indemnifying party's expense to represent the indemnified party in any
     action for which indemnification is sought (in which case the indemnifying
     party shall not thereafter be responsible for the fees and expenses of any
     separate counsel, other than local counsel if not appointed by the
     indemnifying party, retained by the indemnified party or parties except as
     set forth below); PROVIDED, HOWEVER, that such counsel shall be reasonably
     satisfactory to the indemnified party. Notwithstanding the indemnifying
     party's election to appoint counsel (including local counsel) to represent
     the indemnified party in an action, the indemnified party shall have the
     right to employ separate counsel (including local counsel), and the
     indemnifying party shall bear the reasonable fees, costs and expenses of
     such separate counsel if (i) the use of counsel chosen by the indemnifying
     party to represent the indemnified party would present such counsel with a
     conflict of interest; (ii) the actual or potential defendants in, or
     targets of, any such action include both the indemnified party and the
     indemnifying party and the indemnified party shall have reasonably
     concluded that there may be legal defenses available to it and/or other
     indemnified parties that are different from or additional to those
     available to the indemnifying party; (iii) the indemnifying party shall not
     have employed counsel reasonably satisfactory to the indemnified party to
     represent the indemnified party within a reasonable time after notice of
     the institution of such action; or (iv) the indemnifying party shall
     authorize the indemnified party to employ separate counsel at the expense
     of the indemnifying party. An indemnifying party will not, without the
     prior written consent of the indemnified parties, settle or compromise or
     consent to the entry of any judgment with respect to any pending or
     threatened claim, action, suit or proceeding in respect of which
     indemnification or contribution may be sought hereunder (whether or not the
     indemnified parties are actual or potential parties to such claim or
     action) unless such settlement, compromise or consent includes an
     unconditional release of each indemnified party from all liability arising
     out of such claim, action, suit or proceeding and does not include an
     admission of fault, culpability or a failure to act, by or on behalf of
     such indemnified party.

          (d) The provisions of this Section 6 and Section 7 shall remain in
     full force and effect, regardless of any investigation made by or on behalf
     of any Holder, the Company, or any of the indemnified Persons referred to
     in this Section 6 and Section 7, and shall survive the sale by a Holder of
     securities covered by the Shelf Registration Statement.

7. CONTRIBUTION.

         If the indemnification provided for in Section 6 is unavailable or
insufficient to hold harmless an indemnified party under Section 6(a) or 6(b),
then each indemnifying party shall, in lieu of indemnifying such indemnified
party, contribute to the amount paid or payable by such indemnified party as a
result of such loss, claim, damage or liability, or action in respect thereof,
(i) in such proportion as shall be appropriate to reflect the relative benefits

                                       17
<PAGE>

received by the Company from the offering and sale of the Notes, on the one
hand, and a Holder with respect to the sale by such Holder of Securities, on the
other, or (ii) if the allocation provided by clause (i) above is not permitted
by applicable law, in such proportion as is appropriate to reflect not only the
relative benefits referred to in clause (i) above but also the relative fault of
the Company and the Guarantors on the one hand and such Holder on the other with
respect to the statements or omissions that resulted in such loss, claim, damage
or liability, or action in respect thereof, as well as any other relevant
equitable considerations. The relative benefits received by the Company and the
Guarantors on the one hand and a Holder on the other with respect to such
offering and such sale shall be deemed to be in the same proportion as the total
net proceeds from such offering (excluding discounts and commissions, but before
deducting expenses) received by or on behalf of the Company and the Guarantors,
on the one hand, and the total net proceeds (excluding discounts and
commissions, but before deducting expenses) received by such Holder, on the
other, bear to the total gross proceeds from the sale all Securities pursuant to
the Shelf Registration Statement in the offering of the Securities from which
the contribution claim arises. The relative fault shall be determined by
reference to, among other things, whether the untrue or alleged untrue statement
of a material fact or the omission or alleged omission to state a material fact
relates to the Company and the Guarantors or information supplied by the Company
and the Guarantors on the one hand or to any information contained in the
relevant Notice and Questionnaire supplied by such Holder on the other, the
intent of the parties and their relative knowledge, access to information and
opportunity to correct or prevent such untrue statement or omission. The parties
hereto agree that it would not be just and equitable if contributions pursuant
to this Section 7 were to be determined by PRO RATA allocation or by any other
method of allocation that does not take into account the equitable
considerations referred to herein. The amount paid or payable by an indemnified
party as a result of the loss, claim, damage or liability, or action in respect
thereof, referred to above in this Section 7 shall be deemed to include, for
purposes of this Section 7, any legal or other expenses reasonably incurred by
such indemnified party in connection with investigating or defending or
preparing to defend any such action or claim. Notwithstanding the provisions of
this Section 7, an indemnifying party that is a Holder of Securities shall not
be required to contribute any amount in excess of the amount by which the total
price at which the Securities sold by such indemnifying party to any purchaser
exceeds the amount of any damages which such indemnifying party has otherwise
paid or become liable to pay by reason of any untrue or alleged untrue statement
or omission or alleged omission. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation.

8. RULE 144A AND RULE 144.

         So long as any Registrable Securities remain outstanding, the Company
and each of the Guarantors shall use its commercially reasonable efforts to file
the reports required to be filed by it under Rule 144A(d)(4) under the Exchange
Act in a timely manner and, if at any time the Company and each of the
Guarantors is not required to file such reports, it will, upon the written
request of any Holder of Restricted Securities, make publicly available other
information so long as necessary to permit sales of such Holder's securities
pursuant to Rules 144 and 144A. The Company and each of the Guarantors covenants
that it will take such further action as any Holder of Restricted Securities may
reasonably request, all to the extent required from time to time to enable such
Holder to sell Registrable Securities without registration under the Securities
Act within the limitation of the exemptions provided by Rules 144 and 144A
(including, without limitation, the requirements of Rule 144A(d)(4)). Upon the
written request of any Holder of Registrable Securities, the Company shall
deliver to such Holder a written statement as to whether it and each of the
Guarantors has complied with such requirements. Notwithstanding the foregoing,
nothing in this Section 8 shall be deemed to require the Company or any of the
Guarantors to register any of its securities pursuant to the Exchange Act.

                                       18
<PAGE>

9. MISCELLANEOUS.

          (a) AMENDMENTS AND WAIVERS. The provisions of this Agreement may not
     be amended, modified or supplemented, and waivers or consents to departures
     from the provisions hereof may not be given, unless the Company has
     obtained the written consent of the Majority Holders. Notwithstanding the
     foregoing, a waiver or consent to depart from the provisions hereof with
     respect to a matter that relates exclusively to the rights of Holders whose
     Securities are being sold pursuant to the Shelf Registration Statement and
     that does not directly or indirectly affect the rights of other Holders may
     be given by Holders of a majority in aggregate amount of the Securities
     being sold by such Holders pursuant to the Shelf Registration Statement.

          (b) NOTICES. All notices and other communications provided for or
     permitted hereunder shall be made in writing by hand-delivery, first-class
     mail, telecopier or air courier guaranteeing next-day delivery:

               (1)  If to the Company, initially at the address set forth in the
                    Purchase Agreement;

               (2)  If to the Representatives, initially at the address set
                    forth in the Purchase Agreement; and

               (3)  If to a Holder, to the address of such Holder set forth in
                    the security register, the Notice and Questionnaire or other
                    records of the Company.

                  All such notices and communications shall be deemed to have
been duly given: when delivered by hand, if personally delivered; one business
day after being delivered to a next-day air courier; five business days after
being deposited in the mail; and when receipt is acknowledged by the recipient's
telecopier machine, if sent by telecopier.

     (c) SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon the
Company, each Guarantor and each of their respective successors and assigns.

     (d) COUNTERPARTS. This Agreement may be executed in any number of
counterparts (which may be delivered in original form or by telecopier) and by
the parties hereto in separate counterparts, each of which when so executed
shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement.

                                       19
<PAGE>

     (e) DEFINITION OF TERMS. For purposes of this Agreement, (a) the term
"business day" means any day on which the New York Stock Exchange, Inc. is open
for trading, (b) the term "subsidiary" has the meaning set forth in Rule 405
under the Securities Act and (c) except where otherwise expressly provided, the
term "affiliate" has the meaning set forth in Rule 405 under the Securities Act.

     (f) HEADINGS. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

     (g) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

     (h) REMEDIES. In the event of a breach by the Company or by any Holder of
any of their respective obligations under this Agreement, each Holder or the
Company, as the case may be, in addition to being entitled to exercise all
rights granted by law, including recovery of damages (other than the recovery of
damages for a breach by the Company of its obligations under Section 3 hereof
for which Additional Interest have been paid pursuant to Section 2 hereof), will
be entitled to specific performance of its rights under this Agreement. The
Company and each Holder agree that monetary damages would not be adequate
compensation for any loss incurred by reason of a breach by it of any of the
provisions of this Agreement (other than the recovery of damages for a breach by
the Company of its obligations under Section 3 hereof for which Additional
Interest have been paid pursuant to Section 2 hereof), and hereby further agree
that, in the event of any action for specific performance in respect of such
breach, it shall waive the defense that a remedy at law would be adequate.

     (i) NO INCONSISTENT AGREEMENTS. The Company and each of the Guarantors
represents, warrants and agrees that (i) it has not entered into, shall not, on
or after the date of this Agreement, enter into any agreement that is
inconsistent with the rights granted to the Holders in this Agreement or
otherwise conflicts with the provisions hereof, (ii) it has not previously
entered into any agreement which remains in effect granting any registration
rights with respect to any of its debt securities to any person and (iii)
without limiting the generality of the foregoing, without the written consent of
the Majority Holders, it shall not grant to any Person the right to request the
Company to register any securities of the Company under the Securities Act
unless the rights so granted are not in conflict or inconsistent with the
provisions of this Agreement.

     (j) NO PIGGYBACK ON REGISTRATIONS. Neither the Company nor any of its
security holders (other than the Holders of Restricted Securities in such
capacity) shall have the right to include any securities of the Company in any
Shelf Registration Statement other than Registrable Securities.

     (k) SEVERABILITY. The remedies provided herein are cumulative and not
exclusive of any remedies provided by law. If any term, provision, covenant or
restriction of this Agreement is held by a court of competent jurisdiction to be
invalid, illegal, void or unenforceable, the remainder of the terms, provisions,
covenants and restrictions set forth herein shall remain in full force and
effect and shall in no way be affected, impaired or invalidated, and the parties
hereto shall use their commercially reasonable efforts to find and employ an
alternative means to achieve the same or substantially the same result as that
contemplated by such term, provision, covenant or restriction. It is hereby
stipulated and declared to be the intention of the parties that they would have
executed the remaining terms, provisions, covenants and restrictions without
including any of such that may be hereafter declared invalid, illegal, void or
unenforceable.

                                       20
<PAGE>

     (l) SURVIVAL. The respective indemnities, agreements, representations,
warranties and each other provision set forth in this Agreement or made pursuant
hereto shall remain in full force and effect regardless of any investigation (or
statement as to the results thereof) made by or on behalf of any Holder of
Registrable Securities, any director, officer or partner of such Holder, any
agent or underwriter or any director, officer or partner thereof, or any
controlling person of any of the foregoing, and shall survive delivery of and
payment for the Registrable Securities pursuant to the Purchase Agreement and
the transfer and registration of Registrable Securities by such Holder.

     (m) SECURITIES HELD BY THE COMPANY, ETC. Whenever the consent or approval
of Holders of a specified percentage of Securities is required hereunder,
Securities held by the Company or its affiliates (other than subsequent Holders
of Securities if such subsequent Holders are deemed to be affiliates solely by
reason of their holdings of such Securities) shall not be counted in determining
whether such consent or approval was given by the Holders of such required
percentage.

                                       21
<PAGE>

                  If the foregoing is in accordance with your understanding of
our agreement, kindly sign and return to us a counterpart hereof, whereupon this
instrument will become a binding agreement among the Company, the Guarantors and
the Initial Purchasers in accordance with its terms.

Very truly yours,

                               CHEMED CORPORATION

By  /s/ David P. Williams
-----------------------------------------
     Name:   David P. Williams
     Title:  Vice President and CFO

THE GUARANTORS

COMFORT CARE HOLDINGS, CO.
JET RESOURCE, INC.
ROTO-ROOTER CORPORATION
ROTO-ROOTER SERVICES COMPANY
NUROTOCO OF MASSACHUSETTS, INC.
CONSOLIDATED HVAC, INC.
ROTO-ROOTER GROUP, INC.
R.R. UK, INC.
ROTO-ROOTER DEVELOPMENT COMPANY
VITAS HEALTHCARE CORPORATION
VITAS HEALTHCARE CORPORATION OF CALIFORNIA
VITAS HEALTHCARE CORPORATION OF CENTRAL FLORIDA
VITAS HEALTHCARE CORPORATION OF FLORIDA
VITAS HEALTHCARE CORPORATION OF ILLINOIS
VITAS HEALTHCARE CORPORATION OF OHIO
VITAS HEALTHCARE CORPORATION ATLANTIC
VITAS HEALTHCARE CORPORATION MIDWEST
VITAS HME SOLUTIONS, INC.
VITAS HOLDINGS CORPORATION
HOSPICE CARE INCORPORATED
VITAS HOSPICE SERVICES, L.L.C.
VITAS HEALTHCARE OF TEXAS, L.P.
VITAS HEALTHCARE CORPORATION OF GEORGIA
VITAS HEALTHCARE CORPORATION OF ARIZONA
VITAS CARE SOLUTIONS, INC.

By /s/ David P. Williams
-------------------------------------------
     Name:  David P. Williams
     Title: Vice President

<PAGE>

Accepted: May 14, 2007

For itself and on behalf of the several Initial Purchasers listed on Schedule 1
 to the Purchase Agreement.

J.P. MORGAN SECURITIES INC.

By /s/ Sudheer Tegulapalle
--------------------------------------
Name: Sudheer Tegulapalle
Authorized Signatory

CITIGROUP GLOBAL MARKETS INC.

By /s/ Dung Nguyen
--------------------------------------
Name:  Dung Nguyen
Authorized SignatoryEXHIBIT 10.1

AGREEMENT

 

This AGREEMENT (“Agreement”) entered into at Lake Success, New York, on the 14th day of May, 2007.

 

	
            BY AND BETWEEN:
 	
            E-Z-EM, Inc., with an office at 1111 Marcus Avenue, Suite LL-26, Lake Success, New York 11042 (herein called the “Employer”)
 

 

	
            AND:
 	
            Mr. Dennis J. Curtin, residing at 5 Gene Place, White Plains, NY, New York 10605 (herein called the “Employee”)
 

 

WHEREAS, the Employee is employed by the Employer;

 

WHEREAS, by mutual consent, the parties agree that the Employer’s employment of the Employee was permanently and irrevocably severed effective as of the 11th day of May, 2007 (the “Effective Date”);

 

WHEREAS the parties hereto are desirous to settle amicably the severance of the Employer’s employment of the Employee and to provide certain special severance benefits to the Employee.

 

WHEREOF, THE PARTIES AGREE AS FOLLOWS:

 

	
            1.
 	
            The foregoing preamble shall form an integral part of this Agreement and shall serve for the purpose of its interpretation.
 

 

	
            2.
 	
            The Employee and the Employer agree that the Employee’s employment by the Employer is severed effective as of the Effective Date and that neither the Employer nor the Employee shall have any further rights or claims thereunder or with respect thereto, except as may arise under this Agreement.  
 

 

	
            3.
 	
            (a)          The Employer shall pay to the Employee an amount equal to Four Hundred Fifty One Thousand Eight Hundred Dollars ($451,800) as a severance payment, which amount shall be paid to the Employee in equal monthly installments commencing in the month of June 2007 and terminating seven (7) months thereafter. In addition, Employer shall pay to Employee a prorata (342/364 days) bonus for fiscal year 2007 in the event such a bonus is declared in accordance with the Employer’s Annual Incentive Plan (AIP).  Such pro rata bonus to be paid at the time as other employees receive their AIP payments.  Employee acknowledges that Employer has made no representations that a bonus will be paid, and, in the event a bonus is not declared, Employee shall have no further rights to any pro rata bonus.  Employee
acknowledges receipt of the Employer’s AIP Plan document.  All severance payments made pursuant to this Agreement shall be subject to all applicable Federal, State and Local taxes and deductions, including without limitation FICA, Federal, State and Local withholding.  The Employee acknowledges that the 
 

 

severance provided pursuant to this paragraph 3(a), 3(c), and 3(f) is something to which he is not otherwise entitled in the absence of this Agreement.

 

(b)   As of the Effective Date, Employee has the following options to purchase shares of the Employer’s common stock (“Stock Options”):

 

	
             
  	
            1.
 	
            Stock Option Agreements dated November 15, 2004 to purchase 35,000 shares of the Employer’s common stock at $14.225 per share;
 

	
             
  	
            2.
 	
            Stock Option Agreements dated  June 2, 2005 to purchase 13,000 shares of the Employer’s common stock at $14.475 per share;
 

	
             
  	
            3.
 	
            A Stock Option Agreement dated May 16, 2006 to purchase 15,000 shares of the Employer’s common stock at $17.490 per share.
 

 

Employee acknowledges and agrees that the options listed above in this Section 3(b) are the only outstanding options existing as of the Effective Date. 

 

Employer and Employee acknowledge and agree that Employee shall have one hundred eighty (180) days from the Effective Date to exercise the Stock Options set forth above.  

 

Any vested Stock Options which the Employee does not exercise on or before the date which is one hundred eighty (180) day from the Effective Date shall automatically terminate and Employee shall have no further rights with respect thereto and shall return all documentation evidencing such Stock Options to Employer. In the event Employee elects to exercise any or all of his vested Stock Options during the applicable time period set forth above, Employee shall comply with Employer’s policy and procedures regarding the exercise of such Stock Options.

 

All stock options owned by the Employee that have not yet vested are hereby terminated and the Employee shall return to the Employer any documentation evidencing such options. 

 

(c)    The Employee shall continue to be covered under the Employer’s current health insurance plan, or a comparable plan if Employer changes health care providers, at the sole expense of Employer for a period commencing on the Effective Date and terminating fifteen (15) months thereafter. Provided, however, that these insurance payments shall be deemed COBRA (as hereinafter defined) payments on behalf of the Employee with a qualifying event date of the Effective Date.  In the event Employee decides not to continue coverage under the Employer’s health insurance plan, the Employer shall pay to employee its monthly cost to provide coverage for the Employee for the remaining unused balance of the fifteen (15) months, beginning with the first month to start following receipt of written notice from Employee that he is
discontinuing and waiving coverage.

 

The Employee acknowledges receipt of information concerning his rights under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”).  The Employee shall be entitled to such benefits as the Employer is required to provide to the Employee 

 

 

2

 

under COBRA.  The Effective Date of this Agreement shall be considered the qualifying event for COBRA purposes.   

 

(d)          Employee acknowledges and agrees that as of January 1, 2008 the present value of the Employee’s account in the Employer’s 1985 Income Deferral Program (“IDP”) is Four Hundred Fifty Six Thousand Two Hundred Five Dollars and Seventy Cents ($456,205.70). Under the terms of the IDP,  as of January 1, 2008 and based upon the current projections, Employee is entitled to receive one hundred eighty (180) equal monthly payments of Four Thousand Eight Hundred Sixty One Dollars and Eighty Nine Cents  ($4,861.89).  Notwithstanding anything contained in the IDP, Employee understands and agrees that such monthly payments shall not commence until January 2008.  This monthly payment is calculated using the current interest rate of ten percent (10%) as of December 31, 2006.  Under the terms of the IDP, the interest rate is
subject to change on annual basis and therefore the monthly payment is subject to change accordingly.  Employee acknowledges that this is the accurate amount due him from the Employer’s Income Deferral Program. This distribution is subject to all applicable taxes.  Nothing in this Agreement  shall effect the survivorship rights or any other rights of Employee under the IDP or any rights of Employee under Section 3.4 of the Agreement for Trust Under the E-Z-EM, Inc. Deferred Compensation Plan dated September 17, 1986. 

 

(e)          As of the Effective Date, Employee acknowledges that he is no longer a beneficiary in the 2003 Death Benefit Plan, a successor arrangement to the Split Dollar Life Insurance Agreement. Employer references the “Termination Agreement” of the Split Dollar Life Insurance Agreement duly executed by Employee on July 18, 2003.

 

(f)          The Employer further agrees to provide Employee with the monies needed for Employee to purchase his current Company motor vehicle, a 2005 BMW 330Ci, bearing the Vehicle Identification Number WBABW53445PJ96555 (the “Motor Vehicle”)  within thirty (30) days of the date the Employee executes this Agreement. Employee understands and acknowledges that the payment of monies made by Employer to Employee to effectuate such purchase and title transfer of the Motor Vehicle shall be considered W-2 taxable income for the Employee in 2007.  

 

	
            4 
 	
            (a)          From the date hereof and for a period of twenty-four (24) months following the Effective Date, the Employee agrees that he shall not directly or indirectly own, manage, operate, control, be employed by, be a shareholder of, be a director of, be an officer of, be a partner or co-venturer of, be a participant in, contract with or be connected in any capacity or any manner with any of the following entities, whether directly or indirectly (whether through related companies or otherwise, including without limitation American and foreign subsidiaries and affiliates):  Bracco, s.p.a. and Bracco Diagnostics, Inc.;  Guerbet;  General Electric Company; Berlex Laboratories, Inc., Medrad, Inc. and Tyco International, Ltd., including without limitation Tyco International, Inc., Mallinkrodt, Inc., and Lafayette
Pharmaceuticals.  For the same period of time following the Effective date, the Employee agrees that he shall not directly or indirectly solicit the employment of, or directly or indirectly hire any employee, director, or officer of the Employer on 
 

 

 

3

 

behalf of himself or of any other person, firm, corporation, or entity which manufacturs, markets, or sells products or services which compete with the Employer’s products or services, or otherwise interfere with the relationship between the Employer and any of its employees, officers, or directors.  

 

(b)          Employee acknowledges, reaffirms and agrees to comply fully with all of his common law fiduciary obligations to the Employer, and, without any limitation intended, will not, directly or indirectly, use, disclose, or otherwise reveal any of the Employer’s confidential, trade secret and/or proprietary information. 

 

Confidential and proprietary information shall include but not be limited to sales information, trade secrets, product information, operations information, financial information, manufacturing information, administration information, research information, technical information, and any other information that is confidential or proprietary to the Employer or its affiliates or subsidiaries (whether or not wholly-owned) according to industry and/or Employer practice, whether such information is in written, oral or other form.  Provided, however, that the Employee may comply with any subpoena or other legal process so long as the Employee gives immediate written notice to the Employer that he has received such subpoena or other legal process and provides the Employer with a copy of such subpoena or other legal process.  Such information shall include, without limitation, data, specifications,
lists, plans, methods, devices, reports, compositions, computer programs, research, techniques, resource or development projects or results, trade secrets, inventions, customer lists, supplier lists, dealer lists, or any information relating to past, present or prospective customers, suppliers or dealers, but there shall be specifically excluded from the information covered by this paragraph any information generally known in the industry.  The Employee agrees that upon the execution of this Agreement, he shall return to the Employer or destroy (as elected by the Employer) all information of the type described above in whatever medium or format such information may be kept (written and printed copy, computer disk and hard drive, recording, and any other medium or format), including any copies thereof, within his possession or within his power to control.

 

All developments, including inventions, whether patentable or otherwise, trade secrets, discoveries, improvements, ideas and writings which either directly or indirectly relate to or may be useful in the design, manufacture or marketing of Employer’s products or otherwise in the business of the Employer (“the Developments”) which Employee either by himself or in conjunction with any other person or persons conceived, made developed, acquired or acquired knowledge of during the employment relationship, shall become and remain the sole and exclusive property of the Employer.  Employee hereby assigns, transfers and conveys, and agrees to assign, transfer and convey, all of his right, title and interest in and to any and all such Developments and to fully disclose as soon as practicable all such Developments to the Employer.  Employee agrees that he will execute and deliver any
and all instruments, documents and papers, give evidence and do any and all other acts which, in the opinion of counsel for the Employer, are or may be necessary or desirable to document such transfer or to enable the Employer to file and prosecute applications for and to acquire, maintain and enforce any and all patents, 

 

 

4

 

trademark registrations or copyrights under United States or foreign law with respect to any such Developments or to obtain any extension, validation, reissue, continuance or renewal of any such patent, trademark or copyright.  The Employer will be responsible for the preparation of any such instruments, documents and papers and for the prosecution of any such proceedings and will reimburse Employee for reasonable expenses incurred by him in compliance with the provisions of this section.

 

(c)          It is acknowledged that this Agreement is not intended to and shall not be construed as in any way limiting the common law fiduciary obligations of the Employee to the Employer. 

 

The Employer and the Employee agree that the restrictions in this Section 4 are necessary to protect legitimate business interests of the Employer, including trade secrets, confidential business information, relationships with existing and potential customers, and goodwill associated with the Employer’s business.  

 

Nothing herein shall be construed to prevent the Employee from investing in the stock of any competing corporation listed on a national securities exchange or traded in the over-the-counter market, but only if Employee and his associates (as the term is defined in the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended), collectively, do not own more than an aggregate of one (1) percent of the stock of such corporation and  such corporation stock is not valued at more than five hundred thousand dollars ($500,000) on the date of purchase. 

 

	
            5.
 	
            Except for those obligations created by or arising out of this Agreement, and except as otherwise provided below, the Employee on behalf of himself, his descendants, ancestors, dependents, heirs, executors, insurers, administrators, assigns, and successors, and each of them, hereby waives, covenants not to sue and fully releases and discharges the Employer, all affiliates and subsidiaries (whether or not wholly-owned) of the Employer, and all trustees, directors, officers, employees, agents, attorneys, insurers, stockholders and representatives of the Employer and its affiliates and subsidiaries, past and present, and all of such persons’ assigns and successors, and each of them, hereinafter together and collectively referred to as  “Releasees”, with respect to and from any and all claims, wages, demands, rights, liens, agreements, contracts,
covenants, actions, suits, causes of action, obligations, debts, costs, expenses, attorneys’ fees, damages, judgments, orders and liabilities of whatever kind or nature in law, equity or otherwise, whether now known or unknown, suspected or unsuspected, and whether or not concealed or hidden, which he now owns or holds or he has at any time heretofore owned or held as against said Releasees, arising out of or in any way connected with his employment relationship with the Employer, or the severance of his employment or any other transactions, occurrences, acts or omissions or any loss, damage or injury whatever, known or unknown, suspected or unsuspected, resulting from any act or omission by or on the part of said Releasees, or any of them, committed or omitted prior to the date of this Agreement, including, but not limited to, any claim under the Civil Rights Act of 1866, 1871, 1964 and/or 1991, the Age Discrimination in Employment Act (the “ADEA”), the Older Worker
Benefit Protection Act of 1990 (“OWBPA”) the New York Human Rights Act, the Equal Pay 
 

 

 

5

 

Act, the Americans with Disabilities Act, the Employment Retirement Income Security Act, the Rehabilitation Act of 1973, the Family and Medical Leave Act, the Fair Credit Reporting Act, any federal, state, or local “whistleblower” or similar employee disclosure protection law, and/or any other federal, state or local laws or regulations prohibiting discrimination on the basis of age, race, color, creed, national origin, sex, sexual orientation, marital status, or any other form of illegal discrimination or any claim for wrongful termination, premature or discriminatory termination of Employee’s employment, or discriminatory terms and conditions of employment, infliction of emotional distress, or any claim for salary, wages, severance pay, bonus, sick leave, holiday pay, vacation pay, life insurance, health or medical insurance or any other fringe benefit, workman’s
compensation or disability benefit.  Notwithstanding the foregoing, nothing in this Agreeement shall be construed to prohibit Employee from filing a charge with or participating in any investigation or proceedings conducted by the Equal Employment Opportunity Commission (“EEOC”) or a comparaible state or local agency, provided, however, that Employee hereby waives his/her right to recover monetary damages in any charge, complaint or lawsuit filed by Employee or by anyone else on Employee’s behalf.  Further, Employee represents that no claims, complaints, charges or other proceedings are pending in any court, administrative agency, commission or other forum relating directly or indirectly to Employee’s employment by Employer.    Provided, however, that notwithstanding this paragraph, Employee retains his claims for vested benefits under the Employer’s 401(k) plan or other benefit plans.

 

	
            6.
 	
            Except as set forth in this Agreement, the Employee agrees that he shall be exclusively liable for the payment of the Employee’s portion of all FICA, federal, state and local taxes which may be due as the result of the consideration received by the Employee as set forth herein and the Employee hereby represents that he shall make payments of such taxes at the time and in the amount required of the Employee.  In addition, the Employee hereby agrees to fully defend and indemnify Releasees and each of them from payment of the Employee’s portion of any taxes, interest or penalties that are required by them by any government agency at any time as the result of payment of the consideration set forth herein, provided that written notice is given to Employee within a reasonable period after receipt of such a claim and that the taxes, interest, or penalty is
not due the Employer’s errors or omissions with respect to such taxes, including but not limited to Employer’s failure to properly withhold or remit such taxes as required by applicable law or regulation.  Notwithstanding the foregoing, if the Employer is advised by its auditors or legal counsel that it is appropriate to withhold any federal or state taxes from the consideration received by the Employee, it may do so.
 

 

	
            7.
 	
            (a)          Except as otherwise provided in Section 5 of this Agreement, the Employee agrees that he will not provide consulting advice or counsel to or otherwise cooperate with or assist employees or former employees of Releasees to pursue legal actions against Releasees on or in connection with any matter relating to their employment or the termination of their employment, provided that the Employee may comply with any subpoena or other legal process so long as the Employee gives immediate written notice to the Employer that he has received such subpoena or other legal process and provides the Employer with a copy of such subpoena or other legal process.  The Employee further 
 

 

 

6

 

agrees that he will not participate, directly or indirectly, as a party, witness or otherwise, in any action at law, proceeding in equity or in any administrative proceeding in which Releasees or Releasees’ personnel are parties or attempt to offer into evidence against Releasees or Releasees’ personnel any fact concerning any act or omission of Releasees or Releasees’ personnel, provided that the Employee may comply with any subpoena or other legal process so long as the Employee gives immediate written notice to the Employer that he has received such subpoena or other legal process and provides the Employer with a copy of such subpoena or other legal process. 

 

(b)          As an essential part of the material consideration for this agreement, Employee agrees that he will cooperate with the Employer fully and to the best of his abilities with regard to the Employer’s defense of any legal claim pending or hereafter brought or threatened against the Employer or any of its employees.  Such cooperation shall include, but is not limited to: (i) providing truthful and comprehensive testimony in depositions, arbitrations, hearings, trials, and other proceedings, as requested by Employer counsel; (ii) providing truthful and comprehensive affidavits as requested by Employer counsel; (iii) meeting with Employer’s counsel and employees as requested to prepare for such testimony, to facilitate the preparation of such affidavits, and/or to aid the Employer
otherwise in defending any such claim.  The obligations agreed to in this paragraph shall survive for seven years.  In order to enable the Employer to contact Employee for the purposes set forth in this paragraph, Employee shall keep the Employer informed at all times of his addresses and telephone numbers at home and at work.  To the extent permitted by the exigencies of litigation and the schedules of other persons involved, the Employer shall give Employee reasonable notice of the times when he will be required to fulfill his obligations under this paragraph.   In the event that Employee fails to fulfill his obligations under this paragraph, he shall forfeit his right to any further payments under Sections 3(a), (c), and (f) above, and the Employer shall have the right, to the extent permitted by law, to seek recovery from Employee: (x) all such payments that have already been made under Sections 3(a), (c), and (f), (y) any sum that Employer has been compelled to pay to anyone as a
result of litigation with regard to which Employee breached this paragraph, and (z) any attorneys’ fees expended by the Employer in order to obtain such recovery.

	
            8.
 	
            Should the Employee commence or prosecute any action or proceeding contrary to the provisions of this Agreement, the Employee agrees to indemnify Releasees and/or the affected personnel for all court costs and attorneys’ fees incurred by Releasees and personnel in the defense of such action or in establishing or maintaining the application or validity of this Agreement or provisions thereof, except as to claims enforced by the EEOC.  Accordingly, this provision shall not be applicable to any action or proceeding brought by Employee for the purpose of challenging the validity and/or enforceability of any waiver of any employment discrimination claim Employee may have against the Employer, in which case court costs and attorneys fees shall be payable by Employee to Employer only if such challenge is unsuccessful and applicable law permits such recovery under
the circumstances.  In addition, this provision shall not be applicable to any action or proceeding brought by Employee for the purpose of enforcing his rights pursuant to this Agreement.
 

 

 

7

 

	
            9.
 	
            The Employer will provide a letter of reference for Employee in the form set forth in Exhibit A, upon the written request of Employee.  Such letter will be signed by the President and CEO and be addressed to the person making the inquiry.  Oral responses to inquiries shall also provide the information set forth in Exhibit A.  The Employer shall not disparage Employee’s work performance or otherwise make statements to prospective employers that would reasonably be viewed as adversely affecting his attempts to obtain employment.  The Employee shall not disparage the Employer or any of the Employer’s employees.
 

 

	
            10.
 	
            This instrument constitutes and contains the entire agreement and understanding concerning the Employee’s employment, severance of same and the other subject matters addressed herein between the parties, and supersedes and replaces all prior negotiations and all agreements proposed or otherwise, whether written or oral, concerning the subject matters hereof.  This is an integrated document.  Employee acknowledges that neither the Employer nor any of its agents, representatives or attorneys made any representations concerning the terms or effects of this Agreement other than those set forth herein. 
 

 

	
            11.
 	
            Effective as of the Effective Date the Employee resigns as an Officer and/or Director of the Employer and any subsidiary or affiliate of the Employer including without limitation E-Z-EM Ltd., E-Z-EM Canada, Inc. and E-Z-EM Caribe, Inc. and Employee agrees to execute any and all documents necessary or requried to effectuate such resignation.  Employee irrevocably and unconditionally waives and relinquishes any right he has to be named as an Officer or Director of the Employer.
 

 

	
            12.
 	
            If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of the Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be severable.
 

 

	
            13.
 	
            This Agreement shall be deemed to have been executed and delivered within the State of New York, and the rights and obligations of the parties hereunder shall be construed and enforced in accordance with, and governed by, the laws of the State of New York without regard to principals of conflict of laws.    
 

 

	
            14.
 	
            In the event of any dispute in connection with or concerning the subject matter of this Agreement, except as otherwise provided in Section 5 and 8 of this Agreement, the prevailing party shall be entitled to recover all costs and expenses incurred by such party in connection herewith, including reasonable attorneys’ fees.  
 

 

	
            15.
 	
            It is recognized that in the event of the Employee’s breach of Sections 4, 5, and/or 7 the damages resulting from such breach would be difficult, if not impossible, to ascertain and that Employer would be subject to irreparable injury therefrom.  It is therefore agreed that Employer, in addition to and without limiting any other remedy or right it may have, shall be entitled to such equitable and injunctive relief as may be available to restrain Employee from violation of any of said covenants, such right to injunctive and equitable relief, however, to be cumulative and in addition to whatever other remedies Employer 
 

 

 

8

 

may have in the premises, including the recovery of damages from Employee.  Further, in the event that the provisions of Sections 4, 5, and/or 7 should ever be adjudicated to exceed limitations permitted by applicable law, the parties agree that it is their intent that the court reviewing same shall modify and enforce any or all such paragraphs to the maximum extent that it believes to be reasonable under the circumstances existing at that time.

 

	
            16.
 	
            Except as provided in this Agreement, the execution of this Agreement terminates any and all other agreements and/or contracts between Employer or any of its affiliates or subsidiaries and Employee including, but not limited to the Change in Control Employment Security Agreement dated April 24, 1996 and the Split Dollar Life Insurance Termination Agreement dated July 18, 2003.  
 

 

	
            17.
 	
            (a)          Upon the Employee’s breach of Section 4 of this Agreement, and following notice of such breach to Employee and a ten (10) day opportunity to cure such breach, the obligation of the Employer to make payments or provide benefits pursuant to Sections 3(a), (c) and (f) shall immediately terminate, and, upon adjudication that Employee has commited a material breach of this Agreement, Employee shall repay all monies received from Employer pursuant to Sections 3(a), (c) and (f) up to that point in time under this Agreement.
 

 

(b)          Upon any material breach of this Agreement by the Employee other than Section 4, including without limitation reneging on or making challenges to any waivers, the obligation of the Employer to make payments or provide benefits pursuant to Sections 3(a), (c) and (f) shall immediately terminate, provided, however, the Employer first gives written notice to Employee of the alleged breach and the Employer’s basis for believing there has been a breach, including the source of the Employer’s information and a brief description of the actions believed to constitute a breach, and a reasonable opportunity for Employee to cure the breach. 

 

(c)          Furthermore, upon any breach of this Agreement by the Employee all vested and unexercised stock options shall be covered by the terms of the governing stock option plan(s).

 

	
            18. 
 	
            The terms and conditions of this Agreement shall be binding upon the parties hereto, their heirs, executors, administrators, successors and assigns and shall enure to their benefit.
 

 

	
            19.
 	
            This Agreement may not be changed orally, and no modification, amendment or waiver of any of the provisions contained in this Agreement shall be binding upon any party to this Agreement unless made in writing and signed by both the Employer and the Employee.
 

 

	
            20.
 	
            This Agreement does not constitute adjudication or finding on the merits of any claim or dispute and it is not, and shall not be construed as, an admission by the Employer of any violation of its policies, procedures, state or federal laws or regulations.  Moreover, neither this Agreement nor anything in this Agreement shall be construed to be or shall 
 

 

 

9

 

be admissible in any proceeding as evidence of or an admission by the Employer of any violation of its policies, procedures, state or federal laws or regulations.  This Agreement may be introduced, however, in any proceeding to enforce the Agreement.  Such introduction shall be pursuant to an order protecting its confidentiality.

 

	
            21.
 	
            All parties agree to cooperate fully and to execute any and all supplementary documents and to take all additional actions that may be necessary or appropriate to give full force to the basic terms and intent of this Agreement and which are not inconsistent with its terms. 
 

 

	
            22.
 	
            The Employee hereby acknowledges having read this Agreement and having had the opportunity to discuss it with Employee’s attorney, and specifically declares that he understands and is satisfied with the terms and conditions hereof and that his signature hereto shall bind him to all of the terms and conditions herein contained.  The Employee acknowledges further that it is not the custom of Employer to pay severance in the amounts set forth in paragraphs 3(a), (c) and (f) above, and that the amounts set forth in paragraphs 3(a), (c) and (f) above arise solely out of this Agreement and is in consideration for Employee’s promises set forth herein, and that this obligation does not arise out of any other agreement with or obligation of Employer.
 

 

	
            23.
 	
            Except as set forth in this Agreement, no other monies shall be paid to the Employee.
 

 

	
            24.
 	
            Employee agrees that he will not apply or otherwise seek employment with the Employer, and that its officers, employees, agents and representatives have no obligation to rehire, reemploy, recall or hire him in the future.
 

 

	
            25.
 	
            Employee represents that he is not aware at the time of signing this Agreement of any ailment, illness or any other malady which arose from or is related to employment with the Employer. 
 

 

	
            26.
 	
            Words in the masculine gender shall include the feminine.
 

 

	
            27.
 	
            For purposes of this Agreement, references made to Employer shall include E-Z-EM, Inc., its divisions, subsidiaries and affiliates, its successors and assigns and their respective shareholders, officers, directors, employees, agents and representatives. 
 

 

	
            28.
 	
            The Employer shall continue to indemnify, defend, and hold Employee harmless in connection with any claims that may be brought against him related to his lawful performance of his duties during his employment with Employer, to the same extent as during his employment, as provided for under the Employer’s bylaws, certificate of incorporpation, and directors and officers liability insurance.
 

 

PLEASE READ CAREFULLY.  THIS AGREEMENT IS A LEGAL DOCUMENT AND INCLUDES A RELEASE BY THE EMPLOYEE OF ALL KNOWN AND UNKNOWN CLAIMS, AS DETAILED IN THIS AGREEMENT, THAT EMPLOYEE MAY HAVE AT THE TIME OF SIGNING OF THIS AGREEMENT.

 

 

10

 

 

EMPLOYEE ACKNOWLEDGES AND AGREES THAT HE:

 

	
            .
 	
            HAS HAD THE OPPORTUNITY TO TAKE A FULL TWENTY-ONE (21) DAYS WITHIN WHICH TO CONSIDER THIS AGREEMENT BEFORE EXECUTING IT.
 

 

	
            .
 	
            HAS CAREFULLY READ AND FULLY UNDERSTANDS ALL OF THE PROVISIONS OF THIS AGREEMENT.
 

 

	
            .
 	
            IS, THROUGH THIS AGREEMENT, RELEASING THE RELEASEES FROM ANY AND ALL CLAIMS HE MAY HAVE AGAINST THE RELEASEES AS MORE FULLY SET FORTH ABOVE.
 

 

	
            .
 	
            KNOWINGLY AND VOLUNTARILY AGREES TO ALL OF THE TERMS SET FORTH IN THIS AGREEMENT.
 

 

	
            .
 	
            KNOWINGLY AND VOLUNTARILY INTENDS TO BE LEGALLY BOUND BY THE SAME.
 

 

	
            .
 	
            WAS ADVISED AND HEREBY IS ADVISED IN WRITING TO CONSIDER THE TERMS OF THIS AGREEMENT AND TO CONSULT WITH AN ATTORNEY OF HIS CHOICE PRIOR TO EXECUTING THIS AGREEMENT.
 

 

	
            .
 	
            HAS A FULL SEVEN (7) DAYS FOLLOWING THE EXECUTION OF THIS AGREEMENT TO REVOKE THE WAIVER AND RELEASE SET FORTH IN THIS AGREEMENT, IN WHICH CASE THIS AGREEMENT SHALL BE NULL AND VOID.
 

 

	
            .
 	
            UNDERSTANDS THAT RIGHTS OR CLAIMS THAT MAY ARISE AFTER THE EFFECTIVE DATE OF THIS AGREEMENT, INCLUDING WITHOUT LIMITATION CLAIMS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT,  ARE NOT WAIVED.  
 

 

THE EMPLOYEE DECLARES UNDER PENALTY OF PERJURY UNDER THE LAWS OF THE STATE OF NEW YORK THAT THE FOREGOING IS TRUE AND CORRECT.

 

 

11

 

IN WITNESS WHEREOF, the Employer and Employee have duly executed this Agreement as of the date set forth below.  

 

 

Employer:

 

E-Z-EM, Inc.

 

 

	
            By:  /s/ Peter J. Graham                                 
 	
            Date:___________________________
 

Peter J. Graham

Senior Vice President-Chief Legal Officer,

Global Human Resources and Secretary

 

 

Employee:

 

 

	
            /s/ Dennis J. Curtin                                         
 	
            Date:___________________________  
 

Dennis J. Curtin

 

 

Witness: /s/ Geraldine Curtin                        

 

	
             
 	
            (signature)
 

 

                       Geraldine Curtin                   

	
             
 	
            (print name of witness)
 

 

 

 

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