Document:

Prepared by MERRILL CORPORATION

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Exhibit 10.6    
  

Executive Employment Agreement Dated November 22, 2000,

between Dicom and Paul Fernandez  

 
 

EXECUTIVE EMPLOYMENT AGREEMENT    
  

Dicom
Imaging Systems Inc. Paul Fernandez

November 22, 2000 

Introduction  

    This Executive Employment Agreement ("Agreement") is made and effective this November 22, 2000, by and between Dicom Imaging Systems Inc.
("Company") and Paul Fernandez ("Executive"). Now, therefore, the parties hereto agree as follows: 

Employment  

    Company hereby agrees to initially employ Executive as its Chief Financial Officer and Executive hereby accepts such employment in accordance with the terms of
this Agreement and the terms of employment applicable to regular employees of Company. 

Duties of The Executive  

    Reporting to the Chief Operating Officer, the duties of Executive shall include being responsible for the company's financial plans and policies, accounting
practices, and relationships with lending institutions and the financial community. The Executive shall also be responsible for the development of accounting and statistical procedures for internal
control. Executive shall perform all duties in a professional, ethical and businesslike manner. 

    The
Executive shall be required to participate in the Executive Management Committee of the Company and be given the required authority to perform Executive's duties with regard to
implementation of the corporate business plan. 

Compensation  

    Executive will be paid compensation during this Agreement as follows: 

    A
base salary of USD $8,800 per month during the first year of employment, payable in installments according to the Company's regular payroll schedule (in Canadian dollars using the
prevalent currency exchange rate on the date of the signing of this agreement. 

    A
performance bonus equal to 10% of the Executive's annual base salary if the Company is successful in securing USD$2,000,000 of new investment. 

    A
performance bonus equal to 15% of the Executive's annual base salary if the Executive is successful in implementing budgetary measures aimed at controlling the expenditure of the
proceeds raised from financing as outlined in the Company's business plan. 

    A
base salary of USD$10,800 per month in the second and third years of employment. 

    A
base option plan granting 350,000 options vested according to the following schedule: 

After
8 months of employment 25% of the total

After 12 months of employment 50% of the total

After 18 months of employment 75% of the total

After 24 months of employment 100% of the total 

    The
price at which the options will be offered to the Executive, will be the prevailing price of the stock, on the day the offer of employment is signed. 

    In the event of an acquisition of the Company or a merger or a change in the control of the Company or if the Company disposes of all of its assets, all share options outlined above
shall be moved forward six calendar months for vesting purposes. 

    In
the event of the death of the Executive while this agreement is in force, all current stock options shall be prorated from the date of this agreement, and shall pass to the estate
of the Executive. 

    The
Executive shall be entitled to trade any amount or all vested shares without restraint, subject to the registration of such shares as per the requirements of the Securities and
Exchange Commission. 

Benefits  

Vacations & Holidays  

    Executive will be entitled to four weeks of paid holidays each calendar year and all statutory public holidays. Company will notify Executive on or about the
beginning of each calendar year with respect to the public holiday schedule for the coming year. Personal holidays, if any, will be scheduled in advance subject to requirements of Company. 

Medical and Group Life Insurance  

    Company agrees to include Executive in a group medical and hospital plan of Company and provide group life insurance for Executive at no charge to Executive in
the amount of twice the Executive's total annual salary, without limit, during this Agreement. The company shall also provide short-term and long term disability insurance as appropriate
to the Executive's position. Executive shall be responsible for payment of any federal or state income tax imposed upon these benefits. 

Expense Reimbursement  

    Executive shall be entitled to reimbursement for all reasonable expenses, including mileage in own car, travel and entertainment, incurred by Executive in the
performance of Executive's duties. Executive will maintain records and written receipt as required by the Company policy and reasonably requested by the board of directors to substantiate such
expenses. All expenses are to be reimbursed within fifteen days of submission. 

Training  

    The Executive shall be entitled to a minimum of 40 hours training per year, at a location appropriate to the training in question. 

Term and Termination  

    The Agreement shall commence on November 22, 2000 and it shall continue in effect for a period of one year. Thereafter, the Agreement shall be renewed
upon the mutual agreement of Executive and Company and the terms of this Agreement shall remain in force, unless mutually agreed otherwise. This Agreement and Executive's employment may be terminated
at Company's discretion. For the purposes of this Agreement, non-renewal constitutes an act of termination. 

    Executive
may terminate the Agreement, at Executive's discretion by providing at least thirty (30) days prior written notice to Company. In the event of termination by
Executive pursuant to this subsection, Company may immediately relieve Executive of all duties and immediately terminate this Agreement, provided that Company shall pay Executive at the then
applicable total salary rate to the termination date included in Executive's original termination notice. 

    In
the event that Executive is in breach of any material obligation to the Company in this Agreement, habitually neglects the duties to be performed under this Agreement, engages in
any conduct which is dishonest, damages the reputation or standing of the Company, or is convicted of any criminal act or engages in any act of moral turpitude, then Company may terminate this
Agreement upon fourteen (14) days notice to Executive. In event of termination of the agreement pursuant to this 

subsection, Executive shall be paid only at the then applicable total salary rate up to and including the date of termination. 

Notices  

    Any notice required by this Agreement or given in connection with it, shall be in writing and shall be given to the appropriate party by personal delivery or
by certified mail, postage prepaid, or recognized overnight delivery services; 

If
to Company:

Dicom Imaging Systems Inc.

#210-15047 Marine Drive

White Rock, BC V4B 1C5 

If
to Executive:

Paul Fernandez

1190 Ehkolie Crescent

Delta, B.C.

V4M 2M2 

Final Agreement  

    This Agreement terminates and supersedes all prior understandings or agreements on the subject matter hereof. This Agreement may be modified only in writing,
duly executed by both parties. 

Governing Law  

    This Agreement shall be construed and enforced in accordance with the laws of the Province of British Columbia. 

Headings  

    Headings used in this Agreement are provided for convenience only and shall not be used to construe meaning or intent. 

Severability  

    If any term of this Agreement is held by a court of competent jurisdiction to be invalid or unenforceable, then this Agreement, including all of the remaining
terms, will remain in full force and effect as if such invalid or unenforceable term had never been included. 

Arbitration  

    The parties agree that they will use their best efforts to amicably resolve any dispute arising out of or relating to this Agreement. Any controversy, claim or
dispute that cannot be so resolved shall be settled by final binding arbitration in accordance with the rules of the Province of British Columbia and judgment upon the award rendered by the arbitrator
or arbitrators may be entered in any court having jurisdiction thereof. Any such arbitration shall be conducted in British Columbia, or such other place as may be mutually agreed upon by the parties.
Within fifteen (15) days after the commencement of the arbitration, each party shall select one person to act arbitrator, and the two arbitrators so selected shall select a third arbitrator
within ten (10) days of their appointment. 

    IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. 

	 	 	DICOM IMAGING SYSTEMS INC.

Per Authorized Signatory
	

 	
 	

  
 Paul Fernandez
 Executive

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Exhibit 10.6

EXECUTIVE EMPLOYMENT AGREEMENTPrepared by MERRILL CORPORATION

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Exhibit 10.7    
  

Promissory Note Dated November 7, 2000  

    All
certificates evidencing the Lender's interests in the Note and underlying Shares shall bear the following legend, to which this Agreement is also subject: "THE SECURITIES
EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE "ACT") OR APPLICABLE STATE SECURITIES LAWS, AND THE TRANSFER THEREOF IS PROHIBITED EXCEPT IN ACCORDANCE WITH THE
PROVISIONS OF REGULATION S UNDER THE ACT, PURSUANT TO REGISTRATION UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM SUCH REGISTRATION. HEDGING
TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT"; 

    All
certificates evidencing the Lender's Note shall also bear the following legend: "THIS NOTE AND ANY SHARES TO BE ISSUED UPON ITS CONVERSION HAVE NOT BEEN REGISTERED UNDER THE ACT,
AND THIS NOTE MAY NOT BE EXERCISED BY OR ON BEHALF OF ANY U.S. PERSON UNLESS REGISTERED UNDER THE ACT OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE. EACH PERSON EXERCISING THIS NOTE WILL BE
REQUIRED TO GIVE: (A) WRITTEN CERTIFICATION THAT IT IS NOT A U.S. PERSON AND THE NOTE IS NOT BEING EXERCISED ON BEHALF OF A U.S. PERSON; OR (B) A WRITTEN OPINION OF COUNSEL, REASONABLY
SATISFACTORY TO THE COMPANY, TO THE EFFECT THAT THE NOTE AND THE SECURITIES DELIVERED UPON EXERCISE THEREOF HAVE BEEN REGISTERED UNDER THE ACT OR ARE EXEMPT FROM REGISTRATION THEREUNDER." 

PROMISSORY NOTE  

	AMOUNT: USD 255,684.93	 	DATE: 7TH November, 2000

    FOR
VALUE RECEIVED, Dicom Imaging Systems, Inc. [the "Borrower"] hereby promises to pay on or before 6th May, 2001 [the "Maturity
Date"] to Torchmark Holdings Ltd. [the "Lender"] the sum of USD255,684.93 (two hundred and fifty five thousand six hundred and eighty four point nine three
United States Dollars) [the "Principal Sum"], at such address as the Lender may direct in writing, together with interest on the unpaid Principal Sum, both before and after
demand, default and judgment on all amounts from time to time outstanding in respect of the Principal Sum at the rate per annum equal to 10% (ten per cent), calculated and compounded monthly, not in
advance. 

    The
Borrower hereby waives presentment for payment, demand, protest, notice of nonpayment, and any and all lack of diligence or delays in collection or enforcement hereof. 

    The
Lender shall have the right, at its option, at any time and from time to time, and in any event before 6th May 2001 or the date on which the unpaid Principal Sum and any
accrued interest are paid in full by the Borrower, to convert, subject to the terms and provisions under this Note, all or any part of the unpaid Principal Sum into fully paid and
non-assessable common shares of the Company [the "Shares"] as constituted on the date hereof (subject to adjustment herein set out) at the conversion rate of the
unpaid Principal Sum divided by 90% of the market price of the shares at the date of the signing of this agreement upon presentation of this Note on any Business Day, accompanied by a written notice
["the Notice"] in the form attached exercising the right to convert (completed to indicate the amount of the unpaid Principal Sum that is to be converted) to the Borrower. For
the purposes hereof, "Business Day" means any day except Saturday, Sunday or a statutory holiday. 

    As
promptly as practicable after presentation of this Note and the Notice by the Lender to the Borrower, the Borrower shall deliver or cause to be delivered to the Lender certificates
representing the number of fully paid and non-assessable Shares to which this Note is to be converted in accordance with the provisions under this Note. Such conversion shall be deemed to
have been made at the close of business on the date that such Note and Notice shall have been so presented for conversion, so that 

the rights and remedies of the Lender with respect to this Note to the extent that they relate to the amount of the unpaid Principal Sum being converted shall cease at such time, and upon such
conversion of this Note, the Lender shall be treated for all purposes as having become the registered holder of such number of Shares at such time as results from the application of the Conversion
Rate. In the event that the unpaid Principal sum is not converted in its entirety, such amount of the unpaid Principal Sum not converted shall be evidenced by a new Note and delivered to the Lender as
promptly as practicable. 

    If
the Borrower shall subdivide or change the Shares into a greater number of Shares or shall issue in exchange for such Shares a greater number of Shares, then from and after the
effective date of such subdivision, change or exchange of Shares, the Conversion Rate shall be increased in proportion to the increase in the number of outstanding Shares resulting from such
subdivision, change or exchange. If the Borrower shall reduce the number of Shares by combination or consolidation of Shares or shall issue in exchange for its outstanding shares a smaller amount of
Shares, then from and after the effective date of such combination, consolidation or exchange of Shares the Conversion Rate shall be decreased in proportion to the decrease in the number of the
outstanding Shares resulting from such combination, consolidation or exchange of Shares. 

    If
the Borrower shall declare and pay a stock dividend upon the Shares (or a dividend payable at the option of the respective holders either in Shares or cash), from and after the
payment date of such dividend, the Conversion Rate shall be increased in proportion to the increase in the number of outstanding Shares resulting from such dividend. 

    No
fractional Shares shall be issued upon any conversion of this Note. Accrued interest on this Note shall not be convertible into Shares. Any accrued interest shall be paid to the
Lender in cash at the time of conversion. 

    The
Borrower shall allot and keep available for issue, as fully paid and non-assessable, such number of Shares to be issued upon conversion of this Note. 

    As
consideration for the execution of this Note, the Borrower agrees to grant to the Lender the right to purchase that number of shares of the Borrower's common stock equal to thirty
percent of the original principal amount due under this Note divided by the 10 day trailing average stock price of the Borrower's common stock as quoted on the OTC Bulletin Board or the NASDAQ
small cap exchange. Such Warrants shall be issued by the Borrower within 10 days of the date hereof and shall be in form reasonably acceptable to Lender. Such Warrants shall have piggyback
registration rights as further described in the Warrant Agreement. 

    The
Lender acknowledges that this Note and any Shares which may be issued on the conversion of this Note have not been registered under the United States Securities Act of 1993, as
amended (the "1933 Act") or the securities laws of any state of the United States and this Note may not be transferred to or converted in the United States or by or on behalf of any US Person unless
such Note and Shares are registered under the 1933 Act and applicable State securities laws or unless an exemption from registration is available. 

    This Note shall be interpreted in accordance with the Laws of the Turks & Caicos Islands. 

	DICOM IMAGING SYSTEMS, INC.	 	 	 	 
	

VALUE RECEIVED	
 	

 	
)	

 
	Signed, sealed and delivered	 	 	)	 
	in the presence of	 	 	)	 
	

TORCHMARK HOLDINGS LTD.	
 	

 	
 	

 
	

ACKNOWLEDGEMENT	
 	

 	
 	

 
	

)

 
 Signed, sealed and delivered	
 	

 	
 	

 
	

)

 
 in the presence of	
 	

 	
 	

 
	

)

 
	
 	

 	
 	

 
	

)

 
	
 	

 	
 	

 
	

)

 
	
 	

 	
 	

 

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Exhibit 10.7

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