Document:

Amended and Restated Independent Physician Agreement

 Exhibit 10.70 
 VIRTUAL RADIOLOGIC PROFESSIONALS 
 AMENDED AND RESTATED 
 INDEPENDENT PHYSICIAN AGREEMENT 
 This Amended and
Restated Independent Physician Agreement including all exhibits and all addenda attached hereto (“Agreement”) is effective as of September 13, 2007 (the “Effective Date”), by and between VIRTUAL RADIOLOGIC
PROFESSIONALS, LLC, a Delaware limited liability company (“Practice”) and Sean O. Casey, M.D. (“Physician”), sometimes referred to collectively as “the Parties.” 
 WHEREAS, Physician is an independent medical practitioner, specializing in the field of radiology; 
 WHEREAS, Practice is a professional medical practice that provides radiology interpretation and consultation services to remote locations primarily
through one or more secure network connections; 
 WHEREAS, Practice provides its service under direct or indirect contract with radiology
groups (“Customers”) for coverage for medical facilities (“Clients”); 
 WHEREAS, Practice also provides services
directly to medical facilities (in such context, “Customers”); 
 WHEREAS, Practice typically provides evening and weekend coverage
to its Customers, but also provides day coverage at its Customer’s request; 
 WHEREAS, Practice desires to engage Physician as an
independent contractor in accordance with the terms and conditions of this Agreement; and 
 WHEREAS, Physician is agreeable to such
engagement. 
 NOW, THEREFORE, in consideration of the above recitals and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows: 
  

	1.	Provision of Services; Payments 

 1.1 Provision
of Services. Physician shall serve as the President and principle executive officer of the Practice, and shall additionally provide on request professional radiology interpretation and consultation services, including preliminary and/or official
interpretations (the “Services”), via Practice’s Radiologic Information System (RIS) and image hosting system or by such other means as Practice may provide from time to time. Physician agrees to provide diagnostic reports as set
forth on Exhibit C. Physician may elect to produce a non-diagnostic report in response to a request if the Client has not provided requested information necessary for Physician to produce a diagnostic report. Commencing on the Start Date
(“Start Date”) Physician shall provide interpretation services on a limited and back-up basis only. 
 1.2 Payment for
Services. In full consideration for all Services performed by Physician, Practice agrees to pay Physician the Compensation and Professional Fees in the amounts and upon the times and terms set forth on Exhibit A to this Agreement. Practice shall
make such payments to Physician via electronic funds transfer, directed to a U.S. account or accounts designated in writing by Physician from time to time, or via check through U.S. mail. Practice shall reimburse Physician for all expenses
necessarily or incidentally incurred in his performance of duties under this Agreement. 
  

 1 

 1.3 Licensing and Credentialing Fees. Practice also agrees to pay all fees, including initial
application, renewal or similar fees, necessary to secure, re-establish or renew Physician’s right to practice in the states identified in Exhibit B and such other states for which Practice from time to time requests Physician to be licensed
(collectively “License Fees”) and fees associated with obtaining staff membership, reading rights, or clinical privileges (collectively “Clinical Privileges”) with medical facilities for which Physician will provide Services
(collectively “Credentialing Fees”); subject in each case to reimbursement in accordance with Section 6.3.b upon termination of this Agreement during the Initial Term. 
  

	2.	Professional Qualifications and Physician Independence 

 2.1 Professional Qualifications and Obligations. At all times during the Term of this Agreement (defined below), Physician: (a) shall maintain permanent residence in the United States (b) shall maintain Physician’s
status as a board certified radiologist; (c) shall comply with the requirements of the American College of Radiology (“ACR”) relating to the provision of radiology and teleradiology services (d) shall be qualified and licensed to
practice medicine in Physician’s jurisdiction of residence; (e) shall be continue to be qualified to be licensed to practice medicine in the states for which Practice requests Physician to become licensed and qualified; (f) shall not
be under current exclusion or sanction by any state or federal health care program, including Medicare or Medicaid, or in any non-U.S. jurisdiction with the exception or exclusion solely based on geographic location; (g) shall have passed and
thereafter maintain Practice medical staff status and privileges (“VRP Privileges”); (h) shall be eligible for coverage under Practice’s medical liability insurance and for medical liability insurance for the jurisdictions in
which medical practice is performed and in the site of residence of the Physician; and (i) shall not, without the prior written consent of Practice, perform any services from a location outside of the United States or a Territory thereof.
Physician agrees to accept an appointment as a Rotating Member of the Practice’s Quality Assurance (QA) committee and to perform the periodically required attendant duties described in Practice’s Physician’s Manual, “Radiology
Quality Assurance- Discrepancy Reports” available at Practice’s Radiologist Portal (“Radiologist Portal”). 
 2.2
Reporting Requirements. Physician shall inform the Practice’s President or Board of Managers in writing immediately of: (a) any charge or conviction whatsoever of violation of any law or ordinance of any local, county, state or
federal jurisdiction; (b) any denial or revocation of membership in a state, county or local medical society; (c) any denial or relinquishment of staff membership, reading rights, or clinical privileges at any time; (d) the initiation
of any disciplinary action or inquiry concerning Physician by a hospital or medical staff, state medical licensing authority or federal authority or program including Medicare; (e) any malpractice claim asserted against Physician or settled or
adjudicated by or on behalf of Physician; (f) any voluntary or involuntary surrender, suspension, revocation or restriction of a state or federal narcotics controlled substance permit; (g) any voluntary or involuntary surrender,
suspension, revocation or restriction of any professional license; (h) revocation of any professional board certification; (i) any action commenced or taken against Physician by any licensing or privileging authority; (j) the
commencement or taking of any disciplinary action or inquiry whatsoever by any licensing authority, institution or professional society; or (k) any agreement or understanding by or between Physician and any licensing authority that Physician
will not apply for license renewal in a jurisdiction. 
 2.3 Clinical Privileges; License Applications. Physician shall obtain a state
medical license (“License”) and clinical privileges (“Clinical Privileges”) for each state or medical facility requested by the Practice within a reasonable time following Practice’s request. Practice agrees to provide
Physician with reasonable assistance, including the preparation and submission of applications necessary to obtain 

  

 2 

 
Licenses and Clinical Privileges at each hospital, imaging center, or other medical facility designated by Practice in its sole judgment to permit Physician
to provide Services at such facility. Physician shall furnish promptly upon request by Practice all documentation, information or verifications necessary for the preparation and submission of applications for Licenses and Clinical Privileges.
Physician shall maintain each License and Clinical Privilege granted to Physician until Practice specifies that such License or Clinical Privilege is no longer required; which shall include fulfillment of any applicable Continuing Medical Education
(“CME”) or similar requirements for each state in which Physician holds a License or at each facility where Physician holds Clinical Privileges. Physician shall relinquish a Clinical Privilege upon a request to do so by Practice or by the
institution that granted the Clinical Privilege. Practice shall provide Physician with reasonable assistance with maintenance and tracking of CME requirements for each state in which Physician holds a License. Upon termination of this Agreement,
Physician and Practice shall share the costs of expenses associated with Licensing and Credentialing as set forth on Exhibit A. 
 2.4
Medicare Identification and Qualification. Upon request by Practice, Physician shall enroll or maintain enrollment in Medicare and/or similar or comparable public or private third party payor programs, and shall provide Physician’s
unique identifying number or similar identification to Practice to facilitate billing. Practice agrees to provide Physician with reasonable assistance in completing and maintaining such enrollments. 
 2.5 Compliance with Professional Standards. Physician shall perform all Services contemplated by this Agreement in accordance with the standards
of professional ethics and practice as may from time to time be applicable to the fields of medicine and radiology, in the United States and in each of the states in which Physician holds a License, including standards promulgated from time to time
by the American College of Radiology for the practice of radiology and teleradiology. 
 2.6 Reports. Physician covenants and agrees
that all reports (“Reports”) rendered by Physician shall include all pertinent findings and clinical impressions, and shall be personally reviewed and signed by Physician; and that Physician will verbally communicate clinical findings to
an attending physician where appropriate for patient care. Physician accepts responsibility for the contents of all such signed reports and communications. 
 2.7 Independent Contractor. 
 a. Physician is and shall at all times remain an independent contractor
to Practice. Nothing in this Agreement shall create, or be construed to create, any relationship between Physician and Practice other than that of an independent contractor. Physician hereby consents to Practice identifying Physician among
Practice’s independent contractor physicians on Practice’s, or Practice’s management company’s, website. 
 b.
Physician’s obligations under this agreement relate primarily to the provision of Services as President and principle executive officer of Practice. 
 c. Physician acknowledges that the Health Insurance Portability and Accountability Act of 1996 and related regulations (45 C.F.R. Parts 160 and 164) (“HIPAA”) and the Joint Commission on Accreditation of
Healthcare Organizations (“The Joint Commission”) require Practice to establish and follow written procedures pertaining to the protection of patient information and the provision of health care services. Physician further agrees to abide
by Practice’s written procedures complying with applicable HIPAA and The Joint Commission requirements in order that Practice and Physician may fulfill their respective legal obligations under HIPAA and in order that Practice may maintain its
The Joint Commission accreditation. Practice’s written procedures applicable to physician are located on the Radiologist Portal. 
  

 3 

 2.8 Obligation to Update. Upon Practice’s request from time to time, Physician shall provide
certificates or other proof of continued compliance with Sections 2.1, 2.2 and 2.3 above, and shall provide Practice written notice of any change in such status, not less than 30 days prior to the effective date of such change. 
 2.9. Policies and Procedures. Physician agrees to abide by the policies and procedures set forth from time to time at the Practice’s
Radiologist Portal, including those relating to network use and access, use and care of equipment, and operating procedures as may be revised by Practice from time to time. 
 2.10 Information Requirements; Privileges. In connection with the granting of VRP Privileges, Practice may request professional references from
Physician and may require Physician to complete questionnaires or other documentation necessary for or related to VRP Privileges or Physician’s prospective Services. If Practice, in its sole judgment, is not satisfied with the information
provided in such references, questionnaires or other documentation, Practice may, in its sole discretion, decline to grant VRP Privileges to Physician and terminate this Agreement. 
 2.11 Additional Information; References. Physician agrees to obtain annually a physical examination evidencing that Physician is not impaired from
performing Services and to furnish the same to Practice’s Medical Director. Upon request by Practice, Physician shall obtain and thereafter maintain at least three cooperative personal references, and will obtain from time to time such
additional personal or training references necessary for Physician to obtain Clinical Privileges. Practice will reasonably assist Physician to obtain the same. 
  

	3.	Financial Arrangements 

 3.1 Exclusive
Billing. Practice shall bill for, collect from Practice’s customers and clients, and own all of the fees that are charged for Physician’s services and all related accounts receivable. Physician shall provide Practice, and at
Practice’s request, its customers and clients with all information reasonably necessary to permit such billing in a timely and accurate manner. Physician shall be solely responsible for, and shall indemnify and hold Practice (and
Practice’s clients) harmless from, any claims, liabilities and repayment obligations with respect to (a) the accuracy of Physician’s record of claims and (b) Physician’s compliance with federal and state laws (including but
not limited to Medicare and Medicaid requirements) relating to the submission or assignment of such claims. Physician acknowledges and agrees that the right to bill and collect for Services shall be the exclusive right of Practice. Physician shall
not bill Practice’s clients or their patients for Services provided. 
 3.2 Taxes; No Withholdings, Benefits. The Professional
Fees set forth in this Agreement are inclusive of all applicable sales, use, gross receipts, excise, value-added, withholding, and other taxes that may be due based on Practice’s payments to Physician under this Agreement, all of which taxes
shall be Physician’s sole obligation. Physician acknowledges and agrees that: (a) neither Practice nor any of Practice’s patients or clients will withhold on behalf of Physician pursuant to this Agreement any sums for income tax,
unemployment insurance, social security or any other withholding pursuant to any law or requirement of any governmental body relating to Physician or make available to Physician any of the benefits afforded to employees of Practice or of
Practice’s clients, and (b) all such withholdings and benefits, if any, are the sole responsibility of Physician. 
  

 4 

	4.	Patient Records and Information 

 4.1 Patient
Record and Patient Information. All patient records pertaining to professional services shall remain the property of Practice’s Customers or Clients. Practice agrees that it shall cause its Customers or Clients to obtain patient consents
and patient authorizations necessary for Physician to receive orders, images and other information necessary for Physician to render a Report. Physician shall comply with all requirements of HIPAA, and applicable laws of any U.S. state or Territory
relating to the privacy, security, and administration of patient health information. Physician agrees to enter into, and thereafter comply with, any business associate or confidentiality agreements reciting such obligations, including training
sufficient for Physician to demonstrate proper use, as may be required by Clients to permit access to a Client’s network and patient information. 
 4.2 Access to Books and Records. Physician and Practice shall each maintain all records in a form and for the period of time required by applicable laws. Physician and Practice shall make available to
authorized agents of the Secretary of Health and Human Services (or other governmental authority) this Agreement, any amendments to this Agreement, and any books, documents or records belonging to Physician or Practice and any related entity that
may be necessary to verify the nature and extent of any payments made to Physician or Practice hereunder. Any such access shall be in accordance with the written regulations established by the Secretary of Health and Human Services to the extent
required by law. In the event that Physician or Practice is requested to disclose any books, documents, or records for the purpose of an audit or investigation of Services delivered under this Agreement, Practice or Physician shall notify the other
of the nature and scope of the request and shall make all books, documents, or records so disclosed available to the other upon written request. 
  

	5.	Equipment 

  

	 	5.1	Equipment. 

  

	 	a.	Practice shall provide, at no cost to Physician: 

  

	 	(i)	HIPAA compliant computer equipment (“Practice Equipment”) suitable for Physician to perform the Services; 

  

	 	(ii)	installation and setup instructions for the Practice Equipment and reasonable technical assistance thereafter; and 

  

	 	(iii)	necessary patches, upgrades, and instructions required to maintain, the security, operation, and HIPAA compliance, of the Practice Equipment. 

  

	 	b.	Physician shall: 

  

	 	(i)	obtain a primary and secondary network access connection meeting the requirements specified by Practice, provided that Practice shall reimburse Physician for the portion of the
primary network connection as specified in Exhibit A; 

  

	 	(ii)	set-up and install the Practice Equipment according to the instructions provided by Practice; 

  

	 	(iii)	follow Practice’s direction regarding maintenance and operation of the Practice Equipment; and 

  

	 	(iii)	maintain the Practice Equipment in good order and repair and replace (at Practice’s cost) the Practice Equipment or any part of it that becomes worn out or obsolete. In
addition, Physician is solely responsible for any physical damage to the Practice Equipment that occurs on Physician’s premises or otherwise while in Physician’s control. 

 5.2 Procedures for HIPAA Compliance. Physician shall comply with the procedures respecting use of Practice Equipment, including applicable HIPAA
requirements, as are set forth at 

  

 5 

 
Practice’s Radiologist Portal. Physician shall not: (i) use the Practice Equipment for any purpose except the Provision of Services to Practice, or
(ii) a utilize a network connection to provide services to third parties if that connection is being used for the provision of Services to, or for communication with Practice. 
 5.3 System Access. Practice will provide Physician with all necessary usernames and passwords to access studies for Clients who have granted
Clinical Privileges. 
  

	6.	Term and Termination 

 6.1 Initial Term and
Renewal. This Agreement shall have an initial term of two years from the Effective Date (the “Initial Period”). The Agreement shall automatically renew for subsequent one-year periods after the expiration of the Initial Period and each
subsequent one year period (each a “Renewal Period”), unless earlier terminated pursuant to Section 6.2. The Initial Period and each Renewal Period, if any, are collectively referred to herein as the “Term.” 
 6.2 Termination; Suspension. 
 a.
Termination Without Cause. Either party may terminate this Agreement without cause upon ninety (90) days prior written notice to the other. 
 b. Termination for Cause. Either party may terminate this Agreement for cause if the other party materially or repeatedly defaults in the performance of its obligations and has not cured such default within 30
days of receipt of a default notice specifying the default and the intention to terminate. 
 c. Automatic Suspension. Upon the
occurrence of any of the following events, each of which shall constitute a ground for termination for cause, then, the provisions of Sections 1 of this Agreement shall be immediately suspended pending cure or termination in accordance with
subparagraph b of this Section 6.2: 
  

	 	(i)	failure, following reasonable notice by Practice, of Physician to obtain reinstatement of Physician’s License to practice medicine in any state or Territory of the United
States; 

  

	 	(ii)	Physician’s Clinical Privileges with Clients are terminated, limited or restricted in any manner if, in Practice’s sole discretion, such termination, limitation or
restriction would materially affect Physician’s ability to perform under this Agreement; 

  

	 	(iii)	Physician fails to comply with any requirement under Section 2.1; 

  

	 	(iv)	Physician becomes ineligible for continued malpractice insurance coverage pursuant to Article 7; 

  

	 	(v)	Physician is convicted upon trial or plea of the commission of any felony or of the commission of a misdemeanor related to the delivery of health care services or a moral turpitude;

  

	 	(vi)	Physician is excluded or debarred from participation in any federally- funded health care program, including the Medicare or Medicaid programs, with the exception of ineligibility
based solely on Physician’s geographic location; or 

  

	 	(vii)	Physician’s disability. For the purpose of this Section, “disability” means the inability of Physician to provide Services by reason of Physician’s illness or
other physical or mental impairment or condition continuing for a period of thirty (30) calendar days; or 

  

 6 

	 	(viii)	If, in the reasonable judgment of Practice’s Medical Director, after consultation with Practice’s Quality Assurance Officer or Quality Assurance Committee, Physician
(i) has failed to comply with the requirements of Section 2.5 and (ii) such failure had or may have had an adverse impact on patient care. 

 d. Termination Coinciding with Termination of Physician’s Employment Agreement with Virtual Radiologic Corporation. Termination of Physician’s employment as Chief Executive officer of Virtual Radiologic
Corporation for any reason shall cause this Agreement to terminate immediately. In that event, the parties hereto agree to negotiate in good faith over the terms of a new agreement between Physician and Practice; however, neither party is bound to
enter into such a new agreement. 
 6.3 Consequences of Termination. 
 a. Return of Property and Confidential Information. In the event of termination for any reason, Physician shall return to Practice all property and
Confidential Information (as defined in Section 8.1) received from Practice, Physician shall immediately cease using any passwords or other information provided by Practice for access to Practice’s or Practice Client’s information
systems, and Physician shall return to Practice at Physician’s own expense the VR Workstation and any other equipment or software provided to Physician by Practice. 
  

	7.	Insurance 

 7.1 Professional Liability
Coverage. Practice agrees to have and maintain a policy of professional liability insurance naming Physician as an additional insured with coverages of at least the amount of One Million Dollars ($1,000,000) per claim and Three Million
Dollars ($3,000,000) in the aggregate annually (the “Insurance”). The Insurance shall cover Physician for malpractice claims made during the term of this Agreement, based on conduct alleged to have occurred based on Services provided
during the Term. Such coverage will apply only to the practice of medicine performed for Practice and specifically excludes any other practice of medicine or professional services that the Physician may engage in outside the Agreement. Physician
agrees not to disclose the name of Practice’s insurance provider or the details of Practice’s insurance policy to any third party entity without the written authorization from an officer of the Practice. Physician agrees to obtain separate
insurance coverage for medical services outside the scope of this Agreement that physician may provide for or on behalf of any third party. 
 7.2 Tail Coverage. Upon termination of this Agreement, Practice shall maintain or purchase medical malpractice coverage for a period after termination of this Agreement (“Tail”) insuring against claims made
relating to services performed by Physician during the term of this Agreement. If seven (7) years of Tail Coverage is not commercially available from Practice’s carrier, then Practice shall provide coverage for the maximum length of time
that is commercially available under its group medical malpractice policy. Physician shall pay the cost of separate Tail Coverage purchased by Practice at Physician’s request. 
 7.3 Separate Insurance. Physician agrees to provide certificate(s) of insurance (or other proof of coverage) to Practice, upon its
request, for all policies carried by Physician relating to the practice of medicine or any other professional services conducted by Physician outside of this Agreement, and agrees to provide Practice thirty (30) days prior written notice of any
change in, or termination of, such separate coverage. 
  

 7 

	8.	Confidentiality and Prohibition Against Competition 

 8.1 Physician shall abide by the provisions relating to confidentiality and non-competition as are set forth is the separate Employment Agreement between Physician and Virtual Radiologic Corporation. 
  

	9.	Warranties, Indemnification and Limitation on Damages 

 9.1 Disclaimer of Warranties. Except as otherwise expressly provided herein, all services or products provided by Practice are provided without warranty of any kind, whether express, implied or arising from custom, course of dealing
or trade usage, any implied warranties of non-infringement, merchantability or fitness for a particular purpose. 
 9.2
Indemnification. Each party agrees to indemnify and hold the other harmless from any and all claims, liabilities, damages, taxes, fines, repayment obligations, or expenses, including court costs and reasonable attorney fees (collectively,
“Claims”), arising from any act or omission by the indemnifying party or its employees or agents (excepting the indemnified party), or from the indemnifying party’s material breach of this Agreement. Without limiting the generality of
the foregoing, Physician expressly agrees to indemnify and hold Practice harmless from any and all Claims arising from any other professional services provided by or on behalf of Physician or any other work Physician may engage in outside of this
Agreement. 
 9.3 Limitation of Liability. Neither Practice nor Physician shall be liable for, nor shall any measure of damages
include, any indirect, incidental, special, exemplary, punitive or consequential damages or amounts for loss of income, profits or savings, loss of data arising out of or relating to its performance or failure to perform under this Agreement, even
if the party against whom liability is sought to be imposed has been advised of the possibility of such damages or loss; provided, however, that the limitations of liability set forth this paragraph shall not apply to (i) Practice’s
failure to make payments to Physician for services rendered, (ii) Physician’s obligations set forth in Article 8, or (iii) the reciprocal obligations of indemnification set forth in Section 9.2. 
  

	10.	Miscellaneous 

 10.1 Force Majeure. Neither
party shall be responsible for any damages, delay in performance or failure to perform by Physician or Practice, if caused by any act or occurrence beyond its reasonable control such as embargoes, changes in government regulations or requirements
(executive, legislative, judicial, military or otherwise), acts of war or terrorism, power failure, electrical surges or current fluctuations, lightning, earthquake, flood, the elements or other forces of nature, delays or failures of
transportation, or acts or omissions of telecommunications common carriers. In particular, without limitation, neither Physician nor Practice shall be responsible for any interruption in Services caused by an interruption in or failure of Internet
services. Physician recognizes that any such Internet or network outage if lasting more than a single 10 hour work shift may, if Practice scheduling allows, be credited against Physician’s vacation time or may otherwise result in a prorated
reduction in the contract minimum cash payment to the Physician. 
  

 8 

 10.2 Amendment. This Agreement may be amended only by a writing that is signed by both parties.

 10.3 Assignment. Practice may, in its sole discretion, assign this Agreement to any entity that succeeds to some or all of the
business of Practice through merger, consolidation, or sale of some or all of the assets of Practice, or any similar transaction. Physician acknowledges that the services to be rendered to Practice are unique and personal and therefore Physician may
not assign any rights or obligations under this Agreement. 
 10.4 Successors and Assigns. Subject to Section 10.3, the
provisions of this Agreement shall be binding upon the parties hereto, upon any successor or assign of Practice, and upon Physician’s heirs and the personal representative of Physician’s estate. 
 10.5 Waiver. Any waiver by either party of compliance with any provision of this Agreement shall not operate or be construed as a waiver of any
other provision of this Agreement or of any subsequent breach by a party of the same or another provision of this Agreement. Any delay or failure by either Party to assert a right under this Agreement shall not constitute a waiver by said Party of
any right hereunder, and either Party may subsequently assert all of its rights hereunder as if the delay or failure had not occurred. No waiver by Practice shall be valid unless in writing and signed by an authorized representative of Practice.

 10.6 Severability. If any one or more of the provisions (or portions thereof) of this Agreement shall for any reason be held by a
final determination of a court of competent jurisdiction to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provisions (or portions of the provisions) of this
Agreement, and the invalid, illegal, or unenforceable provision shall be deemed replaced by a provision that is valid, legal, and enforceable and that comes closest to expressing the intention of the parties. 
 10.7 Governing Law, Arbitration. This Agreement shall be governed by and construed in accordance with the laws of the State of Minnesota without
reference to the conflict of law provisions thereof. Any dispute, claim or controversy arising out of or related to this Agreement shall be resolved by binding arbitration by a single arbitrator in Minneapolis, Minnesota, in accordance with the
Commercial Arbitration Rules of the American Arbitration Association then in effect. Judgment upon the arbitration award shall be final, binding and conclusive and may be entered in any court having jurisdiction. If for any reason Physician performs
Services under this Agreement outside of the United States, Physician agrees to submit to the jurisdiction of, be accountable to, and remain in compliance with, all applicable state and federal law, rules, regulations or executive orders of any U.S.
or foreign government, agency or authority, and accreditation authorities including but not limited to the American College of Radiology. 
 10.8 Counterparts. This Agreement may be executed by facsimile signature and by either of the parties in counterparts, each of which shall be deemed to be an original, but all such counterparts shall constitute a single instrument.

 10.9 Notices. All notices, requests, or other communications hereunder shall be in writing and either transmitted via facsimile,
overnight courier, hand delivery or registered mail, postage prepaid and return receipt requested, to the parties at the address listed below their respective signatures or such other addresses as may be specified by written notice. Notices shall be
deemed to have been given when received or, if delivered by registered mail, five days after posting. 
 10.10 Equitable Relief. The
parties acknowledge that their remedies at law for any breach or threatened breach of this Agreement may be inadequate. Therefore, a party shall be entitled to seek injunctive and other equitable relief restraining a party from violating this
Agreement, in addition to any other remedies that may be available to it under this Agreement or applicable law. 
  

 9 

 10.11 Entire Agreement. This Agreement, including any attached Exhibits, schedules and appendices
(which are hereby incorporated into the Agreement), constitutes the entire agreement between the parties hereto with respect to its subject matter and there are no other representations, understandings or agreements between the Parties relating to
such subject matter. 
 10.12 Services Provided Prior to Effective Date. Except with respect to compensation, the Parties acknowledge
that any Services provided by Physician prior to the Effective Date of this Agreement are covered by the terms herein. Physician acknowledges that any compensation owed for Services performed prior to the Effective Date of this Agreement shall be
covered, if at all, by separate agreement. 
 10.13 Survival. The provisions of this Section, Sections 2.4, 4, 6.3, 7.2, 8, 9 and 10
shall survive termination of this Agreement for any reason. 
  

 10 

 IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the Effective Date. 
  

											
	 VIRTUAL RADIOLOGIC PROFESSIONALS, LLC,
 a Delaware limited liability company
	 		 		 	SEAN CASEY, M.D.
					
	By:	 	 /s/ SEAN O. CASEY
	 		 		 	 /s/ SEAN O. CASEY

		 	Sean O. Casey, M.D., President	 		 		 	Sean O. Casey, M.D.
						
	Date:	 	  
	 		 		 	Date:	 	  

				
	Address:	 		 		 	
	5995 Opus Parkway, Suite 200	 		 		 	
	Minneapolis, MN 55343-9058	 		 		 	
	Main: 952-392-1100	 		 		 	
	 Fax: 952-943-2401
 www.virtualrad.net

	 		 		 	

  

 11 

 EXHIBIT A 
 COMPENSATION AND COVERAGE PERIODS 
  

	I.	Compensation 

 Physician shall be compensated at the rate of $67,000 per year (“Base Compensation”) for services as President principal executive officer of Practice. Physician shall receive 1/12th of Base Compensation per month no later than the 10th business day of each month. If
Physician provides services for less than the entire calendar month, payment will be prorated to reflect the total number of days worked at a rate reflecting the daily rate multiplied by the total number of days worked in that month. 

 Physician shall be eligible to receive additional compensation for radiologic interpretations for back-up or emergency situations in an amount not
exceeding $10,000 per year calculated with respect to radiologic interpretations in accordance with the Practice’s standard formula for compensating independent physician contractors, which payments will be paid concurrently with the following
month’s installment of Base Compensation. Physician may decline to perform radiologic interpretations is Physician determines in his sole judgment that the performance of such interpretations will unduly interfere with his performance of
obligations as Chief Executive Officer of Virtual Radiologic Corporation. 
 Network Connection Reimbursement. 
 Practice shall periodically reimburse Physician for recurring expenses associated with Physician’s primary network connection used solely to provide Services under
this Agreement. Practice shall make payment to Physician against Practice’s receipt of reasonable documentation supporting the amount requested. Practice shall not provide reimbursement for any portion of Physician’s secondary network
connection. 
 Amounts reimbursable to Physician shall not exceed $250.00 per month. 
  

	II.	Coverage Periods; Start Date 

 Coverage Periods.

 Physician shall be available on a back-up basis for emergency coverage requirements. 
  

 12 

 EXHIBIT B 
 STATES 
 As of the date of this Agreement Physician holds a License to practice medicine in all 50 states, the
District of Columbia and Puerto Rico. 
  

 13 

 EXHIBIT C 
 Reporting Times 
 Physician will provide diagnostic reports as follows: 
  

	 	(i)	for ER coverage, all requested Preliminary Interpretations as promptly as reasonably possible, ordinarily within 30 minutes following receipt of all relevant images and history.

  

	 	(ii)	for ER coverage, all requested Final Interpretations as promptly as reasonably possible, ordinarily within 30 minutes following receipt of all relevant images and history; provided
in the event Physician cannot reasonably render a Final Interpretation within such time, Physician will render a Preliminary Interpretation within 30 minutes and thereafter furnish a Final Interpretation as promptly as reasonably possible, and in
any case not longer than 24 hours. 

  

	 	(iii)	For non-ER coverage, all requested Final Interpretations within 24 hours following receipt of all relevant images and history; provided that, Physician will render Final
Interpretations within 2 hours following receipt for customers designated by Practice. 

  

 14Escrow Agreement dtd 9/14/2007

 Exhibit 10.25 
 ESCROW AGREEMENT 
 THIS ESCROW AGREEMENT (this “Agreement”) dated as
of September 14, 2007 by and among Basin Water, Inc., a Delaware corporation (“Buyer”), Mobile Process Technology, Co., an Arkansas corporation (the “Company”) and Frank S. Craft, as the
“Stockholders’ Representative” (as such term is defined below) on behalf of the Stockholders (as defined in the Merger Agreement (as such term is defined below)) and Computershare Trust Company, N.A. (together with its
successors and assigns, the “Escrow Agent”). 
 RECITALS 
 A. Buyer, Stockholders, the Company and Stockholders’ Representative have entered into an Agreement and Plan of Merger (the “Merger
Agreement”) dated as of August 31, 2007, pursuant to which Buyer will, through one or more of its affiliated subsidiary corporations, purchase all of the issued and outstanding shares of capital stock of the Company from the
Stockholders (the “Transaction”). 
 B. In connection with the Transaction, Stockholders and Buyer have agreed that
One Million Two Hundred Fifty Thousand Dollars ($1,250,000) (the “Indemnity Escrowed Funds”), representing a portion of the Merger Consideration (as defined in the Merger Agreement) to be paid pursuant to the Merger
Agreement, shall be deposited with the Escrow Agent to secure the Stockholders’ indemnification obligations under the Merger Agreement. 
 C. In connection with the Transaction, Stockholders and Buyer have agreed that Seven Hundred Fifty Thousand Dollars ($750,000) (the “Working Capital Escrowed Funds” and together with the Indemnity Escrowed Funds, the
“Escrowed Funds”), representing a portion of the Merger Consideration (as defined in the Merger Agreement) to be paid pursuant to the Merger Agreement, shall be deposited with the Escrow Agent to secure the Stockholders’
obligations to pay the Cash Consideration Adjustment (if any) under the Merger Agreement. 
 D. Pursuant to Section 3.09 of the Merger
Agreement, the Stockholders have granted authority to Frank S. Craft (who, together with any successor appointed pursuant to Section 3.09 of the Merger Agreement, shall be referred to herein as the “Stockholders’
Representative”) to act on their behalf for all purposes relevant to this Agreement. 
 E. Buyer and the Stockholders’
Representative, on behalf of the Stockholders, agree that the Escrowed Funds shall be administered and released in accordance with this Agreement. 
 F. The Escrow Agent is willing (i) to act as escrow agent hereunder and (ii) to disburse the Escrowed Funds as set forth herein. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, the parties hereto
agree as follows: 

 1. Definitions. 
 1.1 General. 
 For purposes of this Agreement, the following terms have the meanings indicated below.

 (a) “Buyer Direction” means a written direction executed by Buyer specifying that the condition for release of a
portion of the Indemnity Escrowed Funds to Buyer referred to in Section 4.1 hereof has occurred. Each Buyer Direction must be delivered to the Escrow Agent in the manner set forth in Section 8 hereof, and copies of such direction must be
delivered in like manner to the Stockholders’ Representative. 
 (b) “Contesting Direction” means a written
direction executed by the Seller’s Representative, which direction contests a Buyer Direction. Each Contesting Direction must be delivered to the Escrow Agent in the manner set forth in Section 8 hereof, and copies of such direction must
be delivered in like manner to Buyer. 
 (c) “Escrowed Funds” has the meaning ascribed to such term in the Recitals.

 (d) “Escrow Termination Date” means the date that is eighteen (18) months after the Closing Date (as defined
in the Merger Agreement). 
 (e) “Government Fund” has the meaning ascribed to such term in Section 5.3 hereof.

 (f) “Indemnity Escrow Account” has the meaning ascribed to such term in Section 3 hereof. 
 (g) “Indemnity Escrowed Funds” has the meaning ascribed to such term in the Recitals. 
 (h) “Joint Direction” means a written direction relating to (i) an agreement of the Stockholders’ Representative and
Buyer for the release of a portion of the Escrowed Funds, (ii) the investment of the Escrowed Funds or (iii) the removal of the Escrow Agent in accordance with Section 5.7 hereof, in each case executed by each of the
Stockholders’ Representative and Buyer, and delivered to the Escrow Agent in the manner set forth in Section 8 hereof. 
 (i)
“Quarterly Statement” has the meaning ascribed to such term in Section 5.3(e) hereof. 
 (j) “Working
Capital Escrow Account” has the meaning ascribed to such term in Section 3 hereof. 
 (k) “Working Capital
Escrowed Funds” has the meaning ascribed to such term in the Recitals. 
 1.2 Interpretive Provisions. 
  

 2 

 (a) The words “hereof,” “herein” and “hereunder” and words of similar
import when used in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement, and article, section, schedule and exhibit references are to this Agreement unless otherwise specified. The meaning of
defined terms shall be equally applicable to the singular and plural forms of the defined terms. The term “or” is disjunctive but not necessarily exclusive. The terms “include” and “including,” however used, are not
limiting and mean “including without limitation.” 
 (b) References to agreements and other documents shall be deemed to include
all subsequent amendments and other modifications thereto. 
 (c) The language used in this Agreement shall be deemed to be the language
chosen by the parties to this Agreement to express their mutual intent, and no rule of strict construction shall under any circumstances be applied against any party. 
 (d) Capitalized terms used herein and not otherwise defined shall have the meaning or meanings ascribed to them in the Merger Agreement. 
 2. Appointment of Escrow Agent. 
 2.1 Appointment. The Stockholders’ Representative, on
behalf of the Stockholders, and Buyer hereby appoint Computershare Trust Company, N.A. as Escrow Agent, and Computershare Trust Company, N.A. hereby agrees to serve as Escrow Agent upon the terms and conditions set forth herein. 
 2.2 Other Agreements. The Escrow Agent is not bound by or obligated to take any notice of any other agreement between Buyer and the
Stockholders’ Representative, including any such agreement which they may execute in the future, other than the Merger Agreement, unless the Escrow Agent is a party to such other agreement. 
 3. Escrowed Funds. On the date hereof, Buyer has deposited with the Escrow Agent the Escrowed Funds. The Escrow Agent will deposit the Indemnity
Escrowed Funds in a fully segregated account (the “Indemnity Escrow Account”) and the Working Capital Escrowed Funds in another fully segregated escrow account (the “Working Capital Escrow Account”),
in each case for the purpose of holding such amounts in trust for the benefit of Buyer and the Stockholders and which amounts will be retained, managed and disbursed by the Escrow Agent subject to the terms and conditions hereof. Any interest
accrued with respect to the Escrowed Funds and any other gains from investments of the Escrowed Funds pursuant to Section 5.3 hereof shall be retained in the Indemnity Escrow Account or the Working Capital Escrow Account, as the case may be,
and released in accordance with Section 4 hereof. The wire transfer instructions for the transfer of the Escrowed Funds to the Escrow Agent is: 
  

			
	Name on Account:	  	Computershare Trust Company Denver Omnibus Holding
	Bank Name:	  	Harris National Association
	Branch Address:	  	111 West Monroe Street, Chicago, IL 60603
	Account Number	  	2265692
	ABA Number:	  	071-000-288
	Reference:	  	Basin Water / Mobile Process Escrow

  

 3 

 4. Disbursement of Escrowed Funds. The Escrow Agent shall release the Indemnity Escrowed Funds, if
any, from the Indemnity Escrow Account for the purposes and in the manner set forth in Article XI of the Merger Agreement and the Working Capital Escrowed Funds, if any, from the Working Capital Escrow Account for the purposes and in the manner set
forth in Section 3.03, as modified and supplemented below. Except as provided in Section 3.03 and Article XI of the Merger Agreement or in this Section 4, the Escrow Agent shall not release all or any portion of the cash and other
property, if any, in the Indemnity Escrow Account or the Working Capital Escrow Account. 
 4.1 Buyer Direction. If a Buyer
Indemnified Party (as defined in the Merger Agreement) is entitled to indemnification out of the Indemnity Escrowed Funds pursuant to Article XI of the Merger Agreement during the term of this Agreement, then Buyer shall have the right to submit to
Escrow Agent a Buyer Direction requesting that Escrow Agent disburse to Buyer an amount of money out of the Indemnity Escrowed Funds, if any is then held in the Escrowed Funds, equal to the amount of Damages (as defined in the Merger Agreement) for
which such indemnification is sought, which amount shall be shown on the Buyer Direction. No Buyer Direction submitted pursuant to the preceding sentence will be valid if received by the Escrow Agent after the Escrow Termination Date; provided,
however, pursuant to Section 11.05(b)(ii) of the Merger Agreement, the Escrow Agent shall retain a portion of the Indemnity Escrowed Funds that represents the Good Faith Damages Estimate (as defined in the Merger Agreement) and the Escrow
Agent shall accept any Buyer Direction relating to such amounts after the Escrow Termination Date. 
 4.2 Duties of Escrow Agent if No Contesting Direction. The Stockholders’ Representative shall have the right to contest any Buyer Direction delivered pursuant to Section 4.1. Escrow Agent shall have
no obligation, however, to initiate any communication with the Stockholders’ Representative to confirm whether the Stockholders’ Representative objects to or plans to contest a particular Buyer Direction. Further, unless Escrow Agent
receives, within ten (10) business days after its receipt of a Buyer Direction, a Contesting Direction from the Stockholders’ Representative with respect to a particular Buyer Direction, then Escrow Agent, on or before the fifteenth
(15th) business day (but no sooner than the eleventh (11th) business day) after its receipt of such Buyer Direction, shall disburse to Buyer the amount shown on such Buyer Direction (or such lesser amount as is then on deposit in the Escrowed Funds). 
 4.3 Contesting Direction. If Escrow Agent receives a Contesting Direction from the Stockholders’ Representative with respect to a particular
Buyer Direction within the ten (10) business day period set forth in Section 4.2 hereof, then Escrow Agent shall not disburse any portion of the disbursement requested under such Buyer Direction unless and until Escrow Agent has received:
(i) a Joint Direction as to the portion of such disbursement that should be made; (ii) a copy of a determination of an arbitrator or mediator, which determination (A) sets forth the amount of such disbursement to be disbursed and
(B) is certified by the party delivering the same to be a true and complete copy of the arbitrator’s or mediator’s determination; or (iii) an order from a court of competent jurisdiction instructing the Escrow Agent as to the
amount of such disbursement to be disbursed. Promptly following Escrow Agent’s receipt of any of the foregoing, Escrow Agent shall make the disbursement specified therein. 
  

 4 

 4.4 Joint Direction. If at any time, or from time to time, prior to or on the Escrow Termination
Date, the Escrow Agent receives a Joint Direction relating to the release of a portion of the Escrowed Funds, the Escrow Agent shall promptly make the disbursement specified in such Joint Direction. 
 4.5 Release of Escrowed Funds. 
 (a)
Promptly (and in any event, within five (5) business days) following the Escrow Termination Date, without further notice or request, the Escrow Agent shall distribute in accordance with Section 4.6 hereto the balance of the Indemnity
Escrowed Funds, if any, then in the Indemnity Escrow Account; provided that, if the Escrow Agent has received a Buyer Direction on or prior to the Escrow Termination Date, and no disbursement has yet been made from the Indemnity Escrowed
Funds in respect thereof, the Escrow Agent will retain in the Indemnity Escrow Account an amount of the Indemnity Escrowed Funds equal to the Good Faith Damages Estimate shown on the Buyer Direction. In such a case, this Agreement shall continue in
full force and effect until such time as the amount retained is released pursuant to Section 4.2, 4.3 or 4.4 hereof. 
 (b) Within
fifteen (15) calendar days after the Final Closing Balance Sheet (as defined in the Merger Agreement) is deemed final, in the event that there are Working Capital Escrowed Funds after the payment to Parent of any funds pursuant to
Section 3.03(c)(ii) of the Merger Agreement, the Escrow Agent shall distribute in accordance with Section 4.6 hereto the balance of the Working Capital Escrow Funds. 
 4.6 Distribution of Escrowed Funds. 
 (a) Prior to the Escrow Termination Date, in the event that the Escrow Agent is required to distribute any part of the Escrowed Funds to the Buyer, the Escrow Agent will make payments to Buyer with the balance, if any, to be held in the
Indemnity Escrow Account or the Working Capital Escrow Account, as applicable. If payments are required to be delivered to the Stockholders on or after the Escrow Termination Date, then Escrow Agent will make such payments to the Stockholders in the
proportions set forth on Schedule I attached hereto. Payments shall be made by the Escrow Agent by wire or by issuance of a check delivered by first class or overnight mail to Buyer or the Stockholders’ Representative, as the case may be.

 (b) In the event that amounts are owed to the Buyer pursuant to Section 3.03(b) of the Merger Agreement, the Escrow Agent shall
deliver to the Buyer the requisite amount from the Working Capital Escrowed Funds. After delivery of such amounts, any remaining funds in the Working Capital Escrow Account shall be promptly delivered to the Stockholders in the proportions set forth
on Schedule I attached hereto. In the event that the Working Capital Escrowed Funds are insufficient to pay to Buyer the requisite amounts, then Buyer may obtain such deficiency from the Stockholders’ Representative, and the Stockholders shall
be jointly and severally liable for any amounts due to Buyer from the Stockholder Representative. The Stockholders’ Representative shall not be entitled to submit a Contesting Direction pursuant to Section 4.2 of this Agreement in
connection with the amounts paid under this Section 4.6(b), it being understood that any dispute resolution related to a Buyer Direction delivered under this Section 4.6(b) shall be governed by Sections 11.02(g) and 14.17 of the 

  

 5 

 
Merger Agreement. Any distributions of the Working Capital Escrowed Funds shall be in the proportions set forth on Schedule I attached hereto. 
 (c) Notwithstanding anything foregoing to the contrary, on the first anniversary of the Closing Date, Escrow Agent shall disburse Six Hundred Twenty Five
Thousand Dollars ($625,000) from the Indemnity Escrow Account minus Good Faith Damages Estimate (as defined in the Merger Agreement) to the Stockholders in the proportions set forth on Schedule I attached hereto less any amounts included on any
Buyer Direction received hereunder prior to such date, including a Buyer Direction in accordance with Section 4.1 or 4.6(b). 
 5.
Escrow Agent. 
 5.1 Duties of Escrow Agent. Escrow Agent’s rights, duties and obligations are strictly limited to those
expressly set forth in this Agreement and the Merger Agreement and the Escrow Agent shall be under no implied obligation or subject to any implied liability hereunder. Escrow Agent shall not be required to take notice of any default or any other
matter, nor be bound nor required to give notice or demand, nor required to take any action whatever except as expressly provided in this Agreement and the Merger Agreement. Escrow Agent shall not be liable for any loss or damage unless caused by
its own gross negligence, willful misconduct, bad faith or breach of this Agreement. The duties and liabilities of the Escrow Agent shall be determined solely by this Agreement and the Merger Agreement and not by reference to any other agreement
among the parties. The Escrow Agent may perform its duties through agents or affiliates. 
 5.2 Authorization to Open the Escrow
Accounts. The parties hereto hereby authorize Escrow Agent to establish and administer the Indemnity Escrow Account and the Working Capital Escrow Account upon receipt of a fully executed facsimile, telex or telecopy of this Agreement in
accordance with the provisions hereof. 
 5.3 Investment of Escrowed Funds. Until such time as the Escrowed Funds shall be distributed
by the Escrow Agent as provided herein, the Escrowed Funds shall be invested and reinvested by the Escrow Agent in accordance with one or more Joint Directions, subject to the following limitations: 
 (a) Such funds shall be invested and reinvested solely: 
 (i) at the risk of the Buyer Indemnified Parties, the Stockholders and the Stockholders’ Representative, as applicable; 
 (ii) in the name of the Escrow Agent or its nominee, for the benefit of the Buyer Indemnified Parties, the Stockholders and the Stockholders’ Representative, as applicable; and 
 (iii) in either of the following: 
 (A) a
taxable government money market portfolio restricted to obligations with maturities of one (1) year or less, composed of obligations issued or guaranteed 

  

 6 

 
as to payment of principal and interest by the full faith and credit of the United States or repurchase agreements secured by government obligations (a
“Government Fund”); or 
 (B) such other instruments as may be specifically approved in a Joint Direction.

 If no Joint Direction is provided to the Escrow Agent directing the investment or reinvestment of the Escrowed Funds, the Escrow Agent
shall automatically and forthwith invest such funds in the Goldman Sachs Financial Square Treasury Obligations Money Market Fund until the Escrow Agent has received such a Joint Direction. 
 (b) For any investment made in accordance with Section 5.3(a) hereof, the Escrow Agent may purchase or sell to itself or any affiliate, as principal
for agent, investments authorized by this Section. Such investment, if registrable, shall be registered in the name of the Escrow Agent for the benefit of the Buyer Indemnified Parties, the Stockholders and the Stockholders’ Representative, as
applicable, and held by the Escrow Agent. The Escrow Agent may act as purchaser or agent in the making or disposing of any investments. The Escrow Agent shall not be liable for any diminution of any authorized investments hereunder unless caused by
its own gross negligence, willful misconduct, bad faith or breach of this Agreement. 
 (c) Such investments will be made as soon as possible
following the availability of such funds to the Escrow Agent for investment, taking into consideration the regulations and requirements (including cut-off times) of the Federal Reserve wire system, the investment provider and the Escrow Agent, and
compliance with standard operating procedures of such parties. 
 (d) An investment made in accordance with Section 5.3(a) hereof may be
changed to a different type of investment, in accordance with Section 5.3(a) hereof, through Joint Direction to the Escrow Agent. Such change in the designation will become effective upon receipt by the Escrow Agent. 
 (e) The Escrow Agent shall deliver to the Stockholders’ Representative and Buyer a statement (the “Quarterly Statement”), as
soon as practicable following each March 31, June 30, September 30 and December 31 during the term of this Agreement, setting forth: (i) the amount of money remaining in each of the Indemnity Escrow Account and the
Working Capital Escrow Account, (ii) the amount of income or interest earned or accrued with respect to the Escrowed Funds, if any, during the period covered by the Quarterly Statement, (iii) the amount of diminution of any authorized
investments with respect to the Escrowed Funds, if any, during the period covered by the Quarterly Statement, and (iv) the amount of loss resulting from any sale or redemption of any authorized investments with respect to the Escrowed Funds, if
any, during the period covered by the Quarterly Statement. 
 (f) The Stockholders shall be liable for any taxes due on any earnings from the
investment of the Escrowed Funds. 
 (g) The Escrow Agent shall be entitled to sell or redeem any such investment as necessary to make any
distributions required under this Agreement and the Merger Agreement and shall not be liable or responsible for any loss resulting from any such sale or redemption. 
  

 7 

 (h) Income, if any, resulting from the investment of the Escrowed Funds shall be retained by the Escrow
Agent and shall be considered, for all purposes of this Agreement, to be part of the Escrowed Funds, and as such, shall be distributed in accordance with Section 4.7 hereof. The sole tax reporting obligation of the Escrow Agent shall be to file
Form 1099 B, 1099 DIV and 1099 INT (as appropriate) with the Internal Revenue Service with respect to interest earnings paid to Buyer and Stockholders. 
 5.4 Payments to Escrow Agent. Escrow Agent shall be paid for services hereunder in accordance with the fee schedule attached hereto as Exhibit A and shall be reimbursed for its reasonable out-of-pocket
expenses for fees of counsel in setting up the Escrow Account. Any fees or charges to establish the Indemnity Escrow Account and the Working Capital Escrow Account shall be deducted from the relevant Escrowed Funds. Any subsequent fees or charges of
the Escrow Agent in connection with this Agreement shall be deducted from the Indemnity Escrow Account or the Working Capital Escrow Account, as applicable; provided that, Escrow Agent shall provide reasonable notice to Buyer and the
Stockholders’ Representative prior to deducting any payments from the Indemnity Escrow Account or the Working Capital Escrow Account, as applicable. In the event that Escrow Agent is made a party to litigation with respect to the property held
hereunder, or brings an action in interpleader or in the event that the conditions of this escrow are not promptly fulfilled, or Escrow Agent is required to render any service not provided for in this agreement and fee schedule, or there is any
assignment of the interest of this escrow or any modification hereof, Escrow Agent shall be entitled to reasonable compensation for such extraordinary services and reimbursement for all fees, costs, liability and expenses, including reasonable
attorney fees, which shall be divided equally between the Stockholders and Buyer in accordance with the preceding sentence. The Escrow Agent may amend its fee schedule from time to time on thirty (30) days’ prior written notice to the
parties. 
 If any controversy arises between the parties hereto or with any third person, Escrow Agent shall not be required to resolve the
same or to take any action to do so but may, at its discretion, institute such interpleader or other proceedings as it deems proper. Escrow Agent may rely on any Joint Direction as to the disposition of funds, assets, documents, or other items held
in the Indemnity Escrow Account or the Working Capital Escrow Account, as applicable. 
 5.5 Indemnification of Escrow Agent. The
Escrow Agent, its agents and affiliates will be indemnified and held harmless by the Stockholders and Buyer from and against any and all reasonable and necessary fees and expenses arising out of or relating to the execution or performance by the
Escrow Agent, its agents and affiliates of its or their duties under this Agreement, including reasonable and necessary attorneys’ fees, expenses and disbursements, including without limitation fees and expenses incurred prior to trial, at
trial, and on appeal and in any bankruptcy or arbitration proceeding, or losses suffered by the Escrow Agent hereunder; provided, however, that neither the Escrow Agent nor its agents or affiliated will be indemnified or held harmless
with respect to such fees and expenses or losses which result from or arise out of the Escrow Agent’s or its agents’ or affiliates’ gross negligence, willful misconduct, bad faith or breach of this Agreement. 
 5.6 Reliance on Documents, Instruments, Signatures. In the performance of its duties hereunder, the Escrow Agent will be entitled to rely upon any
document, instrument or signature believed by it in good faith to be genuine and signed by any party hereto or an 

  

 8 

 
authorized officer or agent thereof, and will not be required to investigate the truth or accuracy of any statement contained in any such document or
instrument, or whether or not the document, instrument or notice has been delivered to any party other than the Escrow Agent. The Escrow Agent may assume that any person purporting to give any notice in accordance with the provisions hereof has been
duly authorized to do so. 
 5.7 Removal and Resignation. The Escrow Agent may at any time be removed by a Joint Direction upon thirty
(30) days’ prior notice. The Escrow Agent or any successor to it as Escrow Agent hereunder appointed may at any time resign and be discharged of the duties imposed hereunder by giving thirty (30) days’ prior notice to each of
Buyer and the Stockholders’ Representative. Notwithstanding the foregoing, such removal or resignation shall not become effective until such time as a successor escrow agent has accepted such appointment. Any such successor will be jointly
appointed by Buyer and the Stockholders’ Representative. In the event Escrow Agent is not notified within fifteen (15) days following the conclusion of either thirty (30) day period referred to above of the appointment of a successor
escrow agent, Escrow Agent shall be entitled to transfer all funds and assets to a court of competent jurisdiction with a request to have a successor appointed. Upon filing such action and delivering such assets, Escrow Agent’s obligations and
responsibilities shall cease. 
 5.8 Merger. Notwithstanding anything to the contrary set forth herein, any corporation into which the
Escrow Agent may be merged or with which it may be consolidated, or to which it may sell substantially all of its corporate trust business, or any corporation resulting from any merger or consolidation or conversion to which it shall be a party,
shall in fact be the successor to the Escrow Agent without the execution or filing of any paper or any further act on the part of any of the parties hereto. 
 6. Stockholders’ Representative. If the Stockholders’ Representative or any successor shall die, resign, or become unable to act as a Stockholders’ Representative, or be removed as
Stockholders’ Representative pursuant to Section 3.09 of the Merger Agreement, a replacement shall promptly be appointed in the manner contemplated by Section 3.09 of the Merger Agreement. The Escrow Agent shall be notified in writing
of such appointment forthwith. Unless and until Buyer and the Escrow Agent shall have received written notice of the appointment of a successor Stockholders’ Representative for such Stockholders, Buyer and the Escrow Agent, as applicable, shall
be entitled to rely on, and shall be fully protected relying on, the power and authority of the Stockholders’ Representative to act on behalf of the Stockholders as contemplated by the Merger Agreement and this Agreement. 
 7. Term and Effect. This Agreement will take effect immediately upon receipt by the Escrow Agent of the Escrowed Funds and will terminate when the
Escrow Agent has distributed all amounts contained in the Indemnity Escrow Account and the Working Capital Escrow Account. 
 8.
Notices. All notices, requests, demands and other communications, including Buyer Directions, Contesting Directions, and Joint Directions, which are required or may be given under this Agreement shall be in writing and shall be deemed to have
been duly given when received if personally delivered; when transmitted if transmitted by facsimile, electronic or digital transmission method; the day after it is sent, if sent for next day delivery to a domestic address by recognized overnight
delivery service (e.g., Federal Express); and upon receipt, if sent by certified or registered mail, return receipt requested. In each case notice shall be sent to: 
  

 9 

 If to the Company, addressed to: 
 Mobile Process Technology, Co. 
 2070 Airways
Boulevard 
 Memphis, TN 38114 
 Attention: Frank S. Craft 
 with a copy to: 
 A. Neal Graham, Esq. 
 Harris Shelton Hanover Walsh, PLLC 
 6060 Poplar Avenue, Suite 450 
 Memphis, TN
38119 
 If to the Stockholders’ Representative, addressed to: 
 Frank S. Craft 
 2070 Airways Boulevard

 Memphis, TN 38114 
 If to
Buyer, addressed to: 
 Basin Water, Inc. 
 8731 Prestige Court 
 Rancho Cucamonga, CA 91730 
 Attention: Michael M. Stark 
 with a copy to: General Counsel 
 and, with a copy to: 
 Latham &
Watkins LLP 
 12636 High Bluff Drive, Suite 400 
 San Diego, California 92130 
 Fax: (858) 523-5450 

			
	Attention:	 	Faye H. Russell, Esq.
		 	Divakar Gupta, Esq.

  

 10 

 If to Escrow Agent: 
 Computershare Trust Company, N.A. 
 350 Indiana Street, Suite 800 
 Golden, CO 80401 
 Fax: (303) 262-0608

 Attn: John Wahl / Rose Stroud 
 or to such other place and with such other copies as any party may designate as to itself by written notice to the others. 
 9.
Counterparts. This Agreement may be executed in one or more counterparts and delivered by means of facsimile transmission, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. In
addition, the Stockholders will be deemed to have approved and adopted this Agreement and have assumed the obligations on them hereunder, and execution hereof by the Stockholders’ Representative on their behalf. 
 10. Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of California, without
regard to principles of conflict of laws. 
 11. Dispute Resolution. Any dispute or controversy arising out of, under, or in
connection with, or in relation to, the Merger Agreement, this Agreement and/or any amendments thereto, or the breach thereof, which is not resolved informally by prior mutual agreement of the Parties hereto, shall be submitted to non-binding
mediation. Each party shall pay the fees of its own attorneys and all other expenses connected with presenting its case. Other costs of the mediation, including the mediator fee, the cost of any record or transcripts of the mediation, and all other
fees and costs, shall be borne by equally by the parties. If the matter has not been resolved pursuant to the aforesaid mediation procedure within thirty (30) days of the commencement of such procedure, or such other period as the parties
agree, either party may seek relief in any court of competent jurisdiction pursuant to California Code of Civil Procedure § 1281.8 or any similar statute of an applicable jurisdiction. All information resulting from or otherwise pertaining to
any such dispute shall be nonpublic and handled by the Stockholders’ Representative, Buyer, the Escrow Agent and their respective representatives and agents in such a way as to prevent the public disclosure of such information. 
 12. Assignment. This Agreement will inure to the benefit of, and be binding upon, Buyer, the Stockholders, the Stockholders’ Representative
and their successors and assigns, and no other Person shall have any right, benefit or obligation under this Agreement as a third party beneficiary or otherwise. This Agreement and the rights and obligations hereunder of the Escrow Agent may be
assigned by it only to a successor to the Escrow Agent’s entire corporate trust business or as set forth in Section 5.7. In addition, Buyer may assign its rights and obligations under this Agreement, to any successor of Buyer which
acquires all or substantially all of the assets or businesses of Buyer to which this Agreement relates, whether by sale, merger, recapitalization or other business combination or to any affiliate of Buyer. 
 13. Entire Agreement, Amendments and Waivers. This Agreement and the Merger Agreement together with all exhibits and schedules hereto constitutes
the entire agreement among the parties pertaining to the subject matter hereof and supersedes all prior agreements, 

  

 11 

 
understandings, negotiations and discussions, whether oral or written, of the parties. This Agreement may not be amended except by an instrument in writing
signed by or on behalf of each of the parties hereto. No amendment, supplement, modification or waiver of this Agreement shall be binding unless executed in writing by the party to be bound thereby. No waiver of any of the provisions of this
Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided. 
 14. Expenses. Except as otherwise specified in this Agreement or the Merger Agreement, each party hereto shall pay its own out-of-pocket expenses,
including, but not limited to, legal and accounting fees, incurred in connection with the negotiation, preparation and execution of this Agreement and all other agreements, documents and instruments contemplated hereby, or otherwise in connection
with the preparation for carrying this Agreement into effect. 
 15. Headings. The headings of the Sections herein are inserted for
convenience of reference only and are not intended to be part of or to affect the meaning or interpretation of this Agreement. 
 16.
Invalidity. In the event that any one or more of the provisions contained in this Agreement or in any other document or instrument referred to herein shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, then
to the maximum extent permitted by law, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement or any other such document or instrument. 
 [Signature Page Follows] 
  

 12 

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

			
	BUYER:
	
	BASIN WATER, INC., a Delaware corporation
		
	By:	 	 /s/ Thomas C. Tekulve

	Name:	 	Thomas C. Tekulve
	Its:	 	Chief Financial Officer
	
	COMPANY:
	
	 MOBILE PROCESS TECHNOLOGY, CO.
 an Arkansas
corporation

		
	By:	 	 /s/ Frank S. Craft

	Name:	 	Frank S. Craft
	Its:	 	President
	
	STOCKHOLDERS’ REPRESENTATIVE:
	
	FRANK S. CRAFT
		
	By:	 	 /s/ Frank S. Craft

 SIGNATURE PAGE TO ESCROW AGREEMENT 

			
	 ESCROW AGENT:

	
	 COMPUTERSHARE TRUST COMPANY, N.A.

		
	 By:
	 	 /s/ John M. Wahl

	 Name:
	 	John M. Wahl
	 Its:
	 	Corporate Trust Officer

 SIGNATURE PAGE TO ESCROW AGREEMENT 

 EXHIBIT A 
 Escrow Agent Fee Schedule 
 [Omitted] 
  

 15 

 SCHEDULE I 
 DISBURSEMENT OF ESCROWED FUNDS ON OR AFTER THE ESCROW TERMINATION DATE 
  

			
	 Stockholder
	  	 % of Escrowed Funds

	 Frank S. Craft
	  	24.63%
	 Evelyn L. Craft
	  	6.63%
	 Frank S. Craft, Jr.
	  	6.63%
	 Sara E. Craft
	  	6.63%
	 Reese K. Craft
	  	6.63%
	 Sara Craft
	  	11.13%
	 Robert D. Craft, Jr.
	  	14.61%
	 Frank C. Craft, Trustee, Wylie Craft Inter Vivos Trust
	  	14.61%
	 Whitney M. Craft
	  	3.45%
	 Robert W. Craft
	  	5.04%
	 Total
	  	100.00%

  

 16

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]