Document:

EXHIBIT 10.2

                          REGISTRATION RIGHTS AGREEMENT
                          -----------------------------

         This Registration Rights Agreement (the "Agreement") is made and
entered into as of this 9th day of June, 2006 by and among VantageMed
Corporation, a Delaware corporation (the "Company"), and the "Investors" named
in that certain Purchase Agreement by and among the Company and the Investors
(the "Purchase Agreement").

         The parties hereby agree as follows:

         1.       CERTAIN DEFINITIONS.
                  -------------------

         As used in this Agreement, the following terms shall have the following
meanings:

         "Affiliate" means, with respect to any person, any other person which
directly or indirectly controls, is controlled by, or is under common control
with, such person.

         "Business Day" means a day, other than a Saturday or Sunday, on which
banks in New York City are open for the general transaction of business.

         "Common Stock" shall mean the Company's common stock, par value $0.001
per share, and any securities into which such shares may hereinafter be
reclassified.

         "Investors" shall mean the Investors identified in the Purchase
Agreement and any Affiliate or permitted transferee of any Investor who is a
subsequent holder of any Warrants or Registrable Securities.

         "Prospectus" shall mean the prospectus included in any Registration
Statement, as amended or supplemented by any prospectus supplement, with respect
to the terms of the offering of any portion of the Registrable Securities
covered by such Registration Statement and by all other amendments and
supplements to the prospectus, including post-effective amendments and all
material incorporated by reference in such prospectus.

         "Register," "registered" and "registration" refer to a registration
made by preparing and filing a Registration Statement or similar document in
compliance with the 1933 Act (as defined below), and the declaration or ordering
of effectiveness of such Registration Statement or document.

         "Registrable Securities" shall mean (i) the Shares, (ii) the Warrant
Shares and (iii) any other securities issued or issuable with respect to or in
exchange for Registrable Securities; provided, that, a security shall cease to
be a Registrable Security upon (A) sale pursuant to a Registration Statement or
Rule 144 under the 1933 Act, or (B) such security becoming eligible for sale by
the Investors pursuant to Rule 144(k).

         "Registration Statement" shall mean any registration statement of the
Company filed under the 1933 Act that covers the resale of any of the
Registrable Securities pursuant to the provisions of this Agreement, amendments
and supplements to such Registration Statement, including post-effective
amendments, all exhibits and all material incorporated by reference in such
Registration Statement.

         "Required Investors" means the Investors holding a majority of the
Registrable Securities.

         "SEC" means the U.S. Securities and Exchange Commission.

         "Shares" means the shares of Common Stock issued pursuant to the
Purchase Agreement.

         "Transaction Documents" means this Agreement, the Warrants and the
Purchase Agreement.

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

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

         "Warrants" means, collectively, the Series C warrants to purchase
shares of Common Stock issued to the Investors pursuant to the Purchase
Agreement, the form of which is attached to the Purchase Agreement as Exhibit A
and the Series D warrants to purchase shares of Common Stock issued to the
Investors pursuant to the Purchase Agreement, the form of which is attached to
the Purchase Agreement as Exhibit B.

<PAGE>

         "Warrant Shares" means the shares of Common Stock issuable upon the
exercise of the Warrants.

         2.       REGISTRATION.
                  ------------

                  (a)      Registration Statements.
                           -----------------------

                           (i)      Promptly following the closing of the
purchase and sale of the securities contemplated by the Purchase Agreement (the
"Closing Date") but no later than sixty (60) days after the Closing Date (the
"Filing Deadline"), the Company shall prepare and file with the SEC one
Registration Statement on Form SB-2 (or on such form of registration statement
as is then available to effect a registration for resale of the Registrable
Securities, subject to the Required Investors' consent), covering the resale of
the Registrable Securities in an amount at least equal to the Shares and the
Warrant Shares. Such Registration Statement shall include the plan of
distribution attached hereto as Exhibit A. Such Registration Statement also
shall cover, to the extent allowable under the 1933 Act and the rules
promulgated thereunder (including Rule 416), such indeterminate number of
additional shares of Common Stock resulting from stock splits, stock dividends
or similar transactions with respect to the Registrable Securities. The Company
shall (i) not permit any securities other than the Registrable Securities to be
included in the Registration Statement. The Company shall use its reasonable
best efforts to obtain from each person who now has piggyback registration
rights a waiver of those rights with respect to the Registration Statement. The
Registration Statement (and each amendment or supplement thereto, and each
request for acceleration of effectiveness thereof) shall be provided in
accordance with Section 3(c) to the Investors and their counsel prior to its
filing or other submission. If a Registration Statement covering the Registrable
Securities is not filed with the SEC on or prior to the Filing Deadline, the
Company will make pro rata payments to each Investor, as liquidated damages and
not as a penalty, in an amount equal to 1.0% of the aggregate amount invested by
such Investor for each 30-day period or pro rata for any portion thereof
following the Filing Deadline for which no Registration Statement is filed with
respect to the Registrable Securities. Such payments shall be in partial
compensation to the Investors, and shall not constitute the Investors' exclusive
remedy for such events. Such payments shall be made to each Investor in cash or
in registered Common Stock valued at the original purchase price as adjusted for
any stock splits and the like. Liquidated damages payable by the Company
pursuant to this provision shall be payable on the first (1st) business day of
each thirty (30) day period following the event date. Notwithstanding anything
to the contrary contained herein, in no event shall any liquidated damages be
payable with respect to the Warrants or the Warrant Shares.

                           (ii)    Upon the written demand of any Investor and
upon any change in the Warrant Price (as defined in the Warrant) such that
additional shares of Common Stock become issuable upon the exercise of the
Warrants, the Company shall prepare and file with the SEC one or more
Registration Statements on Form SB-21 or amend the Registration Statement filed
pursuant to clause (i) above, if such Registration Statement has not previously
been declared effective (or on such form of registration statement as is then
available to effect a registration for resale of such additional shares of
Common Stock (the "Additional Shares"), subject to the Required Investors'
consent) covering the resale of the Additional Shares, but only to the extent
the Additional Shares are not at the time covered by an effective Registration
Statement. Such Registration Statement also shall cover, to the extent allowable
under the 1933 Act and the rules promulgated thereunder (including Rule 416),
such indeterminate number of additional shares of Common Stock resulting from
stock splits, stock dividends or similar transactions with respect to the
Additional Shares. The Company shall use its reasonable best efforts to obtain
from each person who now has piggyback registration rights a waiver of those
rights with respect to such Registration Statement. The Registration Statement
(and each amendment or supplement thereto, and each request for acceleration of
effectiveness thereof) shall be provided in accordance with Section 3(c) to the
Investors and their counsel prior to its filing or other submission. If a
Registration Statement covering the Additional Shares is required to be filed
under this Section 2(a)(ii) and is not filed with the SEC within ten (10)
Business Days of the request of any Investor or upon the occurrence of any of
the events specified in this Section 2(a)(ii), the Company will make pro rata
payments to each Investor, as liquidated damages

<PAGE>

and not as a penalty, in an amount equal to 1.0% of the aggregate amount
invested by such Investor for each 30-day period or pro rata for any portion
thereof following the date by which such Registration Statement should have been
filed for which no Registration Statement is filed with respect to the
Additional Shares. Such payments shall be in partial compensation to the
Investors, and shall not constitute the Investors' exclusive remedy for such
events. Such payments shall be made to each Investor in cash or in registered
Common Stock valued at the original purchase price as adjusted for any stock
splits and the like, in the Company's discretion. Liquidated damages payable by
the Company pursuant to this provision shall be payable on the first (1st)
business day of each thirty (30) day period following the event date.
Notwithstanding anything to the contrary contained herein, in no event shall any
liquidated damages be payable with respect to the Warrants or the Warrant
Shares.

                           (iii)    Promptly following the date (the
"Qualification Date") upon which the Company becomes eligible to use a
registration statement on Form S-3 to register the Registrable Securities or
Additional Shares, as applicable, for resale, but in no event more than ten (10)
days after the Qualification Date (the "Qualification Deadline"), the Company
shall file a registration statement on Form S-3 covering the Registrable
Securities or Additional Shares, as applicable (or a post-effective amendment on
Form S-3 to the registration statement on Form S-2) (a "Shelf Registration
Statement") and shall use commercially reasonable efforts to cause such Shelf
Registration Statement to be declared effective as promptly as practicable
thereafter. If a Shelf Registration Statement covering the Registrable
Securities is not filed with the SEC on or prior to the Qualification Deadline,
the Company will make pro rata payments to each Investor, as liquidated damages
and not as a penalty, in an amount equal to 1.0% of the aggregate amount
invested by such Investor for each 30-day period or pro rata for any portion
thereof following the date by which such Shelf Registration Statement should
have been filed for which no such Shelf Registration Statement is filed with
respect to the Registrable Securities or Additional Shares, as applicable. Such
payments shall be in partial compensation to the Investors, and shall not
constitute the Investors' exclusive remedy for such events. Such payments shall
be made to each Investor in cash or in registered Common Stock valued at the
original purchase price as adjusted for any stock splits and the like, in the
Company's discretion. Liquidated damages payable by the Company pursuant to this
provision shall be payable on the first (1st) business day of each thirty (30)
day period following the event date. Notwithstanding anything to the contrary
contained herein, in no event shall any liquidated damages be payable with
respect to the Warrants or the Warrant Shares.

                  (b)      Expenses.  The Company will pay all expenses
                           --------
associated with each registration, including filing and printing fees, the
Company's counsel and accounting fees and expenses, costs associated with
clearing the Registrable Securities for sale under applicable state securities
laws, listing fees, fees and expenses of one counsel to the Investors and the
Investors' reasonable expenses in connection with the registration, but
excluding discounts, commissions, fees of underwriters, selling brokers, dealer
managers or similar securities industry professionals with respect to the
Registrable Securities being sold.

                  (c)      Effectiveness.
                           -------------

                           (i)      The Company shall use commercially
reasonable efforts to have the Registration Statement declared effective within
60 days after the date the Registration Statement is filed with the SEC (or if
reviewed by the SEC, 90 days after the date filed). The Company shall notify the
Investors by facsimile or e-mail as promptly as practicable, and in any event,
no later than the effective time of the Registration Statement is declared
effective and shall simultaneously provide the Investors with copies of any
related Prospectus to be used in connection with the sale or other disposition
of the securities covered thereby. If (A)(x) a Registration Statement covering
the Registrable Securities is not declared effective by the SEC prior to the
earlier of (i) five (5) Business Days after the SEC shall have informed the
Company that no review of the Registration Statement will be made or (ii) the
120th day after the Closing Date (the 150th day if the registration statement is
reviewed by the SEC), (y) a Registration Statement covering Additional Shares is
not declared effective by the SEC within ninety (90) days (120 days if the
registration statement is reviewed by the SEC) following the time

<PAGE>

such Registration Statement was required to be filed pursuant to Section
2(a)(ii) or (z) a Shelf Registration Statement is not declared effective by the
SEC within ninety (90) days after the Qualification Deadline (120 days if the
registration statement is reviewed by the SEC), or (B) after a Registration
Statement has been declared effective by the SEC, sales cannot be made pursuant
to such Registration Statement for any reason (including without limitation by
reason of a stop order, or the Company's failure to update the Registration
Statement), but excluding the inability of any Investor to sell the Registrable
Securities covered thereby due to market conditions and except as excused
pursuant to subparagraph (ii) below, then the Company will make pro rata
payments to each Investor, as liquidated damages and not as a penalty, in an
amount equal to 1.0% of the aggregate amount invested by such Investor for each
30- day period or pro rata for any portion thereof following the date by which
such Registration Statement should have been effective (the "Blackout Period").
Such payments shall be in partial compensation to the Investors, and shall not
constitute the Investors' exclusive remedy for such events. The amounts payable
as liquidated damages pursuant to this paragraph shall be paid monthly within
three (3) Business Days of the last day of each month following the commencement
of the Blackout Period until the termination of the Blackout Period. Such
payments shall be made to each Investor in cash.

                           (ii)     For not more than twenty (20) consecutive
days or for a total of not more than forty-five (45) days in any twelve (12)
month period, the Company may delay the disclosure of material non-public
information concerning the Company, by suspending the use of any Prospectus
included in any registration contemplated by this Section containing such
information, the disclosure of which at the time is not, in the good faith
opinion of the Company, in the best interests of the Company (an "Allowed
Delay"); provided, that the Company shall promptly (a) notify the Investors in
writing of the existence of (but in no event, without the prior written consent
of an Investor, shall the Company disclose to such Investor any of the facts or
circumstances regarding) material non-public information giving rise to an
Allowed Delay, (b) advise the Investors in writing to cease all sales under the
Registration Statement until the end of the Allowed Delay and (c) use
commercially reasonable efforts to terminate an Allowed Delay as promptly as
practicable. Notwithstanding the foregoing, it shall be deemed an Allowed Delay
during any such time as the Company is required to file a post-effective
amendment to the Registration Statement due to completion of a fiscal year end
and during such time as such post-effective amendment is under review by the
SEC.

         3.       COMPANY OBLIGATIONS. The Company will use commercially
                  -------------------
reasonable efforts to effect the registration of the Registrable Securities in
accordance with the terms hereof, and pursuant thereto the Company will, as
expeditiously as possible:

                  (a)      use commercially reasonable efforts to cause such
Registration Statement to become effective and to remain continuously effective
for a period that will terminate upon the earlier of (i) the date on which all
Registrable Securities covered by such Registration Statement as amended from
time to time, have been sold, and (ii) the date on which all Registrable
Securities covered by such Registration Statement may be sold pursuant to Rule
144(k) (the "Effectiveness Period") and advise the Investors in writing when the
Effectiveness Period has expired;

                  (b)      prepare and file with the SEC such amendments and
post-effective amendments to the Registration Statement and the Prospectus as
may be necessary to keep the Registration Statement effective for the period
specified in Section 3(a) and to comply with the provisions of the 1933 Act and
the 1934 Act with respect to the distribution of all of the Registrable
Securities covered thereby and file the final prospectus pursuant to Rule 424 of
the 1933 Act no later than the effective time of the Registration Statement on
the date the Registration Statement is declared effective by the SEC;

                  (c)      provide copies to and permit counsel designated by
the Investors to review each Registration Statement and all amendments and
supplements thereto no fewer than three (3) Business Days prior to their filing
with the SEC and not file any document to which such counsel reasonably objects;

<PAGE>

                  (d)      furnish to the Investors and their legal counsel
(i) promptly after the same is prepared and publicly distributed, filed with the
SEC, or received by the Company (but not later than two (2) Business Days after
the filing date, receipt date or sending date, as the case may be) one (1) copy
of any Registration Statement and any amendment thereto, each preliminary
prospectus and Prospectus and each amendment or supplement thereto, and each
letter written by or on behalf of the Company to the SEC or the staff of the
SEC, and each item of correspondence from the SEC or the staff of the SEC, in
each case relating to such Registration Statement (other than any portion of any
thereof which contains information for which the Company has sought confidential
treatment), and (ii) such number of copies of a Prospectus, including a
preliminary prospectus, and all amendments and supplements thereto and such
other documents as each Investor may reasonably request in order to facilitate
the disposition of the Registrable Securities owned by such Investor that are
covered by the related Registration Statement;

                  (e)      use commercially reasonable efforts to (i) prevent
the issuance of any stop order or other suspension of effectiveness and, (ii) if
such order is issued, obtain the withdrawal of any such order at the earliest
possible moment;

                  (f)      prior to any public offering of Registrable
Securities, use commercially reasonable efforts to register or qualify or
cooperate with the Investors and their counsel in connection with the
registration or qualification of such Registrable Securities for offer and sale
under the securities or blue sky laws of such jurisdictions requested by the
Investors and do any and all other commercially reasonable acts or things
necessary or advisable to enable the distribution in such jurisdictions of the
Registrable Securities covered by the Registration Statement; provided, however,
that the Company shall not be required in connection therewith or as a condition
thereto to (i) qualify to do business in any jurisdiction where it would not
otherwise be required to qualify but for this Section 3(f), (ii) subject itself
to general taxation in any jurisdiction where it would not otherwise be so
subject but for this Section 3(f), or (iii) file a general consent to service of
process in any such jurisdiction;

                  (g)      use commercially reasonable efforts to cause all
Registrable Securities covered by a Registration Statement to be listed on each
securities exchange, interdealer quotation system or other market on which
similar securities issued by the Company are then listed;

                  (h)      immediately notify the Investors, at any time when a
Prospectus relating to Registrable Securities is required to be delivered under
the 1933 Act, upon discovery that, or upon the happening of any event as a
result of which, the Prospectus included in a Registration Statement, as then in
effect, includes an untrue statement of a material fact or omits to state any
material fact required to be stated therein or necessary to make the statements
therein not misleading in light of the circumstances then existing, and at the
request of any such holder, promptly prepare and furnish to such holder a
reasonable number of copies of a supplement to or an amendment of such
Prospectus as may be necessary so that, as thereafter delivered to the
purchasers of such Registrable Securities, such Prospectus shall not include 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 in
light of the circumstances then existing; and

                  (i)      otherwise use commercially reasonable efforts to
comply with all applicable rules and regulations of the SEC under the 1933 Act
and the 1934 Act, take such other actions as may be reasonably necessary to
facilitate the registration of the Registrable Securities hereunder; and make
available to its security holders, as soon as reasonably practicable, but not
later than the Availability Date (as defined below), an earnings statement
covering a period of at least twelve (12) months, beginning after the effective
date of each Registration Statement, which earnings statement shall satisfy the
provisions of Section 11(a) of the 1933 Act, including Rule 158 promulgated
thereunder (for the purpose of this subsection 3(i), "Availability Date" means
the 45th day following the end of the fourth fiscal quarter that includes the
effective date of such Registration Statement, except that, if such fourth
fiscal quarter is the last quarter of the Company's fiscal year, "Availability
Date" means the 90th day after the end of such fourth fiscal quarter).

                  (j)      With a view to making available to the Investors the
benefits of Rule 144 (or its successor rule) and any other rule or regulation of
the SEC that may at any time permit the Investors to sell shares of Common Stock
to the public without registration, the Company covenants and agrees to: (i)
make and keep public information available, as those terms are understood and
defined in Rule 144, until the earlier of (A) six months after such date as all
of the Registrable Securities may be resold pursuant to Rule 144(k) or any other
rule of similar effect or (B) such date as all of the Registrable Securities
shall have been resold; (ii) file with the SEC in a timely manner all reports
and other documents required of the Company under the 1934 Act; and (iii)
furnish to each Investor upon request, as long as such Investor owns any
Registrable Securities, (A) a written statement by the Company that it has
complied with the reporting requirements of the 1934 Act, (B) a copy of the
Company's most recent Annual Report on Form 10-KSB or Quarterly Report on Form
10-QSB, and (C) such other information as may be reasonably requested in order
to avail such Investor of any rule or regulation of the SEC that permits the
selling of any such Registrable Securities without registration.

<PAGE>

         4.       DUE DILIGENCE REVIEW; INFORMATION. The Company shall make
                  ---------------------------------
available, during normal business hours, for inspection and review by the
Investors, advisors to and representatives of the Investors (who may or may not
be affiliated with the Investors and who are reasonably acceptable to the
Company), all financial and other records, all SEC Filings (as defined in the
Purchase Agreement) and other filings with the SEC, and all other corporate
documents and properties of the Company as may be reasonably necessary for the
purpose of such review, and cause the Company's officers, directors and
employees, within a reasonable time period, to supply all such information
reasonably requested by the Investors or any such representative, advisor or
underwriter in connection with such Registration Statement (including, without
limitation, in response to all questions and other inquiries reasonably made or
submitted by any of them), prior to and from time to time after the filing and
effectiveness of the Registration Statement for the sole purpose of enabling the
Investors and such representatives, advisors and underwriters and their
respective accountants and attorneys to conduct initial and ongoing due
diligence with respect to the Company and the accuracy of such Registration
Statement.

         The Company shall not disclose material nonpublic information to the
Investors, or to advisors to or representatives of the Investors, unless prior
to disclosure of such information the Company identifies such information as
being material nonpublic information and provides the Investors, such advisors
and representatives with the opportunity to accept or refuse to accept such
material nonpublic information for review and any Investor wishing to obtain
such information enters into an appropriate confidentiality agreement with the
Company with respect thereto.

         5.       OBLIGATIONS OF THE INVESTORS.
                  ----------------------------

                  (a)      Each Investor shall furnish in writing to the Company
such information regarding itself, the Registrable Securities held by it and the
intended method of disposition of the Registrable Securities held by it, as
shall be reasonably required to effect the registration of such Registrable
Securities and their qualification under applicable state securities laws, and
shall execute such documents in connection with such registration, including
qualification under applicable state securities laws, as the Company may
reasonably request. At least ten (10) Business Days prior to the first
anticipated filing date of any Registration Statement, the Company shall notify
each Investor of the information the Company requires from such Investor if such
Investor elects to have any of the Registrable Securities included in the
Registration Statement. An Investor shall provide such information to the
Company at least one (1) Business Day prior to the first anticipated filing date
of such Registration Statement if such Investor elects to have any of the
Registrable Securities included in the Registration Statement. Each Investor
shall comply at all times with all federal and state securities laws applicable
to the distribution of the Registrable Securities by them.

                  (b)      Each Investor, by its acceptance of the Registrable
Securities agrees to cooperate with the Company as reasonably requested by the
Company in connection with the preparation and filing of a Registration
Statement hereunder, unless such Investor has notified the Company in writing of
its election to exclude all of its Registrable Securities from such Registration
Statement.

                  (c)      Each Investor agrees that, upon receipt of any notice
from the Company of either (i) the commencement of an Allowed Delay pursuant to
Section 2(c)(ii) or (ii) the happening of an event pursuant to Section 3(h)
hereof, such Investor will immediately discontinue disposition of Registrable
Securities pursuant to the Registration Statement covering such Registrable
Securities, until the Investor's receipt of the copies of the supplemented or
amended prospectus filed with the SEC and until any related post-effective
amendment is declared effective and, if so directed by the Company, the Investor
shall deliver to the Company (at the expense of the Company) or destroy (and
deliver to the Company a certificate of destruction) all copies in the
Investor's possession of the Prospectus covering the Registrable Securities
current at the time of receipt of such notice.

         6.       INDEMNIFICATION.
                  ---------------

                  (a)      Indemnification by the Company. The Company will
                           ------------------------------
indemnify and hold harmless each Investor and its officers, directors, members,
employees and agents, brokers, investment advisors, and employees of each of
them, successors and assigns, and each other person, if any, who controls such
Investor within the meaning of the 1933 Act, against any losses, claims, damages
or liabilities, joint or several, to which they may become subject under the
1933 Act or otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon: (i) any untrue
statement or alleged untrue statement of any material fact contained in any
Registration Statement, any preliminary prospectus or final prospectus contained
therein, or any amendment or supplement thereof; (ii) any blue sky application
or other document executed by the Company specifically for that purpose or based
upon written information furnished by the

<PAGE>

Company filed in any state or other jurisdiction in order to qualify any or all
of the Registrable Securities under the securities laws thereof (any such
application, document or information herein called a "Blue Sky Application");
(iii) the omission or alleged omission to state therein a material fact required
to be stated therein or necessary to make the statements therein not misleading;
(iv) any violation by the Company or its agents of any rule or regulation
promulgated under the 1933 Act applicable to the Company or its agents and
relating to action or inaction required of the Company in connection with such
registration; or (v) any failure to register or qualify the Registrable
Securities included in any such Registration in any state where the Company or
its agents has affirmatively undertaken or agreed in writing that the Company
will undertake such registration or qualification on an Investor's behalf and
will reimburse such Investor, and each such officer, director or member and each
such controlling person for any legal or other expenses reasonably incurred by
them in connection with investigating or defending any such loss, claim, damage,
liability or action; provided, however, that the Company will not be liable in
any such case if and to the extent that any such loss, claim, damage or
liability arises out of or is based upon an untrue statement or alleged untrue
statement or omission or alleged omission so made in conformity with information
furnished by such Investor or any such controlling person in writing
specifically for use in such Registration Statement or Prospectus.

                  (b)      Indemnification by the Investors. In connection with
                           --------------------------------
any registration pursuant to the terms of this agreement, each Investor will
furnish to the Company in writing such information as the Company reasonably
requests concerning the holders of Registrable Securities or the proposed manner
of distribution for use in connection with any Registration Statement of
Prospectus and agrees, severally but not jointly, to indemnify and hold
harmless, to the fullest extent permitted by law, the Company, its directors,
officers, employees, stockholders and each person who controls the Company
(within the meaning of the 1933 Act) against any losses, claims, damages,
liabilities and expense (including reasonable attorney fees) resulting from (i)
any untrue statement of a material fact or any omission of a material fact
required to be stated in the Registration Statement or Prospectus or preliminary
prospectus or amendment or supplement thereto or necessary to make the
statements therein not misleading, to the extent, but only to the extent that
such untrue statement or omission is contained in any information furnished in
writing by such Investor to the Company specifically for inclusion in such
Registration Statement or Prospectus or amendment or supplement thereto or (ii)
any violation by such Investor of any rule or regulation promulgated under the
1933 Act applicable to such Investor and relating to action or inaction required
of such Investor in connection with the distribution of Registrable Securities
by it. In no event shall the liability of an Investor be greater in amount than
the dollar amount of the proceeds (net of all expense paid by such Investor in
connection with any claim relating to this Section 6 and the amount of any
damages such Investor has otherwise been required to pay by reason of such
untrue statement or omission) received by such Investor upon the sale of the
Registrable Securities included in the Registration Statement giving rise to
such indemnification obligation.

                  (c)      Conduct of Indemnification Proceedings. Any person
                           --------------------------------------
entitled to indemnification hereunder shall (i) give prompt notice to the
indemnifying party of any claim with respect to which it seeks indemnification
and (ii) permit such indemnifying party to assume the defense of such claim with
counsel reasonably satisfactory to the indemnified party; provided that any
person entitled to indemnification hereunder shall have the right to employ
separate counsel and to participate in the defense of such claim, but the fees
and expenses of such counsel shall be at the expense of such person unless (a)
the indemnifying party has agreed to pay such fees or expenses, or (b) the
indemnifying party shall have failed to assume the defense of such claim and
employ counsel reasonably satisfactory to such person or (c) in the reasonable
judgment of any such person, based upon written advice of its counsel, a
conflict of interest exists between such person and the indemnifying party with
respect to such claims (in which case, if the person notifies the indemnifying
party in writing that such person elects to employ separate counsel at the
expense of the indemnifying party, the indemnifying party shall not have the
right to assume the defense of such claim on behalf of such person); and
provided, further, that the failure of any indemnified party to give notice as
provided herein shall not relieve the indemnifying party of its obligations
hereunder, except to the extent that such failure to give notice shall
materially adversely affect the indemnifying party in the defense of any such
claim or litigation. It is understood that the indemnifying party shall not, in
connection with any proceeding in the same jurisdiction, be liable for fees or
expenses of more than one separate firm of attorneys at any time for all such
indemnified parties. No indemnifying party will, except with the consent of the
indemnified party, consent to entry of any judgment or enter into any settlement
that does not include as an unconditional term thereof the giving by the
claimant or plaintiff to such indemnified party of a release from all liability
in respect of such claim or litigation.

                  (d)      Contribution. If for any reason the indemnification
                           ------------
provided for in the preceding paragraphs (a) and (b) is unavailable to an
indemnified party or insufficient to hold it harmless, other than as expressly
specified therein, then the indemnifying party shall contribute to the amount
paid or payable by the indemnified party as a result of such loss, claim, damage
or liability in such proportion as is appropriate to reflect the relative fault
of the indemnified party and the indemnifying party, as well as any other
relevant equitable considerations. No person guilty of fraudulent
misrepresentation within the meaning of Section 11(f) of the 1933 Act shall be
entitled to contribution from any person not guilty of such fraudulent
misrepresentation. In no event shall the contribution obligation of a holder of
Registrable Securities be greater in amount than the dollar amount of the
proceeds (net of all expenses paid by such holder in connection with any claim
relating to this Section 6 and the amount of any damages such holder has
otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission) received by it upon the sale of the
Registrable Securities giving rise to such contribution obligation.

<PAGE>

         7.       MISCELLANEOUS.
                  -------------

                  (a)      Amendments and Waivers. This Agreement may be amended
                           ----------------------
only by a writing signed by the Company and the Required Investors. The Company
may take any action herein prohibited, or omit to perform any act herein
required to be performed by it, only if the Company shall have obtained the
written consent to such amendment, action or omission to act, of the Required
Investors.

                  (b)      Notices. All notices and other communications
                           -------
provided for or permitted hereunder shall be made as set forth in Section 9.4 of
the Purchase Agreement.

                  (c)      Assignments and Transfers by Investors. The
                           --------------------------------------
provisions of this Agreement shall be binding upon and inure to the benefit of
the Investors and their respective successors and assigns. An Investor may
transfer or assign, in whole or from time to time in part, to one or more
persons its rights hereunder in connection with the transfer of Registrable
Securities by such Investor to such person, provided that such Investor complies
with all laws applicable thereto and provides written notice of assignment to
the Company promptly after such assignment is effected.

                  (d)      Assignments and Transfers by the Company. This
                           ----------------------------------------
Agreement may not be assigned by the Company (whether by operation of law or
otherwise) without the prior written consent of the Required Investors,
provided, however, that the Company may assign its rights and delegate its
duties hereunder to any surviving or successor corporation in connection with a
merger or consolidation of the Company with another corporation, or a sale,
transfer or other disposition of all or substantially all of the Company's
assets to another corporation, without the prior written consent of the Required
Investors, after notice duly given by the Company to each Investor.

                  (e)      Benefits of the Agreement. The terms and conditions
                           -------------------------
of this Agreement shall inure to the benefit of and be binding upon the
respective permitted successors and assigns of the parties. Nothing in this
Agreement, express or implied, is intended to confer upon any party other than
the parties hereto or their respective successors and assigns any rights,
remedies, obligations, or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement.

                  (f)      Counterparts; Faxes. This Agreement may be executed
                           -------------------
in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. This Agreement
may also be executed via facsimile, which shall be deemed an original.

                  (g)      Titles and Subtitles. The titles and subtitles used
                           --------------------
in this Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement.

                  (h)      Severability. Any provision of this Agreement that is
                           ------------
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof but shall be interpreted as if it
were written so as to be enforceable to the maximum extent permitted by
applicable law, and any such prohibition or unenforceability in any jurisdiction
shall not invalidate or render unenforceable such provision in any other
jurisdiction. To the extent permitted by applicable law, the parties hereby
waive any provision of law which renders any provisions hereof prohibited or
unenforceable in any respect.

                  (i)      Further Assurances. The parties shall execute and
                           ------------------
deliver all such further instruments and documents and take all such other
actions as may reasonably be required to carry out the transactions contemplated
hereby and to evidence the fulfillment of the agreements herein contained.

                  (j)      Entire Agreement. This Agreement is intended by the
                           ----------------
parties as a final expression of their agreement and intended to be a complete
and exclusive statement of the agreement and understanding of the parties hereto
in respect of the subject matter contained herein. This Agreement supersedes all
prior agreements and understandings between the parties with respect to such
subject matter.

                  (k)      Governing Law; Consent to Jurisdiction; Waiver of
                           -------------------------------------------------
Jury Trial. This Agreement shall be governed by, and construed in accordance
----------
with, the internal laws of the State of New York without regard to the choice of
law principles thereof. Each of the parties hereto irrevocably submits to the
exclusive jurisdiction of the courts of the State of New York located in New
York County and the United States District Court for the Southern District of
New York for the purpose of any suit, action, proceeding or judgment relating to
or arising out of this Agreement and the transactions contemplated hereby.
Service of process in connection with any such suit, action or proceeding may be
served on each party hereto anywhere in the world by the same methods as are
specified for the giving of notices under this Agreement. Each of the parties
hereto irrevocably consents to the jurisdiction of any such court in any such
suit, action or proceeding and to the laying of venue in such court. Each party
hereto irrevocably waives any objection to the laying of venue of any such suit,
action or proceeding brought in such courts and irrevocably waives any claim
that any such suit, action or proceeding brought in any such court has been
brought in an inconvenient forum. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO
REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS AGREEMENT AND
REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

<PAGE>

                  (l)      Independent Nature of Investors.  The Company
                           -------------------------------
acknowledges that the obligations of each Investor under the Transaction
Documents are several and not joint with the obligations of any other Investor,
and no Investor shall be responsible in any way for the performance of the
obligations of any other Investor under the Transaction Documents. The Company
acknowledges that the decision of each Investor to purchase Securities pursuant
to the Purchase Agreement has been made by such Investor independently of any
other Investor and independently of any information, materials, statements or
opinions as to the business, affairs, operations, assets, properties,
liabilities, results of operations, condition (financial or otherwise) or
prospects of the Company or of its Subsidiaries which may have made or given by
any other Investor or by any agent or employee of any other Investor, and no
Investor or any of its agents or employees shall have any liability to any
Investor (or any other person) relating to or arising from any such information,
materials, statements or opinions. The Company acknowledges that nothing
contained herein, or in any Transaction Document, and no action taken by any
Investor pursuant hereto or thereto (including, but not limited to, the (i)
inclusion of a Investor in the Registration Statement and (ii) review by, and
consent to, such Registration Statement by a Investor) shall be deemed to
constitute the Investors as a partnership, an association, a joint venture or
any other kind of entity, or create a presumption that the Investors are in any
way acting in concert or as a group with respect to such obligations or the
transactions contemplated by the Transaction Documents. The Company acknowledges
that each Investor shall be entitled to independently protect and enforce its
rights, including without limitation, the rights arising out of this Agreement
or out of the other Transaction Documents, and it shall not be necessary for any
other Investor to be joined as an additional party in any proceeding for such
purpose. The Company acknowledges that for reasons of administrative convenience
only, the Transaction Documents have been prepared by counsel for one of the
Investors and such counsel does not represent the other Investors and the other
Investors have retained their own individual counsel with respect to the
transactions contemplated hereby . The Company acknowledges that it has elected
to provide all Investors with the same terms and Transaction Documents for the
convenience of the Company and not because it was required or requested to do so
by the Investors.

<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Agreement or caused
their duly authorized officers to execute this Agreement as of the date first
above written.

The Company:                                VANTAGEMED CORPORATION

                                            By:    /s/ Steve Curd
                                                   -----------------------------
                                            Name:  Steve Curd
                                            Title: CEO

<PAGE>

The Investors:                              VISION OPPORTUNITY MASTER FUND

                                            By:    /s/ Adam Benowitz
                                                   -----------------------------
                                            Name:  Adam Benowitz
                                            Title: Portfolio Manager

                                            STRATEGIC TURNAROUND EQUITY
                                            PARTNERS, LP (CAYMAN)

                                            By:    /s/ Gary Herman
                                                   -----------------------------
                                            Name:  Gary Herman
                                            Title: Managing Member of Galloway
                                                   Capital  Management,  LLC
                                                   (General Partner)

                                            STEVE CURD

                                            By:    /s/ Steve Curd
                                                   -----------------------------
                                            Name:  Steve Curd
                                            Title: Individual

                                            MARK CAMERON

                                            By:    /s/ Mark Cameron
                                                   -----------------------------
                                            Name:  Mark Cameron
                                            Title: Individual

<PAGE>

                                                                       Exhibit A
                                                                       ---------

                              PLAN OF DISTRIBUTION

         The selling stockholders, which as used herein includes donees,
pledgees, transferees or other successors-in-interest selling shares of common
stock or interests in shares of common stock received after the date of this
prospectus from a selling stockholder as a gift, pledge, partnership
distribution or other transfer, may, from time to time, sell, transfer or
otherwise dispose of any or all of their shares of common stock or interests in
shares of common stock on any stock exchange, market or trading facility on
which the shares are traded or in private transactions. These dispositions may
be at fixed prices, at prevailing market prices at the time of sale, at prices
related to the prevailing market price, at varying prices determined at the time
of sale, or at negotiated prices.

         The selling stockholders may use any one or more of the following
methods when disposing of shares or interests therein:

         - ordinary brokerage transactions and transactions in which the
broker-dealer solicits purchasers;

         - block trades in which the broker-dealer will attempt to sell the
shares as agent, but may position and resell a portion of the block as principal
to facilitate the transaction;

         - purchases by a broker-dealer as principal and resale by the
broker-dealer for its account;

         - an exchange distribution in accordance with the rules of the
applicable exchange;

         - privately negotiated transactions;

         - short sales effected after the date the registration statement of
which this Prospectus is a part is declared effective by the SEC;

         - through the writing or settlement of options or other hedging
transactions, whether through an options exchange or otherwise;

         - broker-dealers may agree with the selling stockholders to sell a
specified number of such shares at a stipulated price per share;

         - a combination of any such methods of sale; and

         - any other method permitted pursuant to applicable law.

         The selling stockholders may, from time to time, pledge or grant a
security interest in some or all of the shares of common stock owned by them
and, if they default in the performance of their secured obligations, the
pledgees or secured parties may offer and sell the shares of common stock, from
time to time, under this prospectus, or under an amendment to this prospectus
under Rule 424(b)(3) or other applicable provision of the Securities Act
amending the list of selling stockholders to include the pledgee, transferee or
other successors in interest as selling stockholders under this prospectus. The
selling stockholders also may transfer the shares of common stock in other
circumstances, in which case the transferees, pledgees or other successors in
interest will be the selling beneficial owners for purposes of this prospectus.

<PAGE>

         In connection with the sale of our common stock or interests therein,
the selling stockholders may enter into hedging transactions with broker-dealers
or other financial institutions, which may in turn engage in short sales of the
common stock in the course of hedging the positions they assume. The selling
stockholders may also sell shares of our common stock short and deliver these
securities to close out their short positions, or loan or pledge the common
stock to broker-dealers that in turn may sell these securities. The selling
stockholders may also enter into option or other transactions with
broker-dealers or other financial institutions or the creation of one or more
derivative securities which require the delivery to such broker-dealer or other
financial institution of shares offered by this prospectus, which shares such
broker-dealer or other financial institution may resell pursuant to this
prospectus (as supplemented or amended to reflect such transaction).

         The aggregate proceeds to the selling stockholders from the sale of the
common stock offered by them will be the purchase price of the common stock less
discounts or commissions, if any. Each of the selling stockholders reserves the
right to accept and, together with their agents from time to time, to reject, in
whole or in part, any proposed purchase of common stock to be made directly or
through agents. We will not receive any of the proceeds from this offering. Upon
any exercise of the warrants by payment of cash, however, we will receive the
exercise price of the warrants.

         The selling stockholders also may resell all or a portion of the shares
in open market transactions in reliance upon Rule 144 under the Securities Act
of 1933, provided that they meet the criteria and conform to the requirements of
that rule.

         The selling stockholders and any underwriters, broker-dealers or agents
that participate in the sale of the common stock or interests therein may be
"underwriters" within the meaning of Section 2(11) of the Securities Act. Any
discounts, commissions, concessions or profit they earn on any resale of the
shares may be underwriting discounts and commissions under the Securities Act.
Selling stockholders who are "underwriters" within the meaning of Section 2(11)
of the Securities Act will be subject to the prospectus delivery requirements of
the Securities Act.

         To the extent required, the shares of our common stock to be sold, the
names of the selling stockholders, the respective purchase prices and public
offering prices, the names of any agents, dealer or underwriter, any applicable
commissions or discounts with respect to a particular offer will be set forth in
an accompanying prospectus supplement or, if appropriate, a post-effective
amendment to the registration statement that includes this prospectus.

         In order to comply with the securities laws of some states, if
applicable, the common stock may be sold in these jurisdictions only through
registered or licensed brokers or dealers. In addition, in some states the
common stock may not be sold unless it has been registered or qualified for sale
or an exemption from registration or qualification requirements is available and
is complied with.

         We have advised the selling stockholders that the anti-manipulation
rules of Regulation M under the Exchange Act may apply to sales of shares in the
market and to the activities of the selling stockholders and their affiliates.
In addition, we will make copies of this prospectus (as it may be supplemented
or amended from time to time) available to the selling stockholders for the
purpose of satisfying the prospectus delivery requirements of the Securities
Act. The selling stockholders may indemnify any broker-dealer that participates
in transactions involving the sale of the shares against certain liabilities,
including liabilities arising under the Securities Act.

<PAGE>

         We have agreed to indemnify the selling stockholders against
liabilities, including liabilities under the Securities Act and state securities
laws, relating to the registration of the shares offered by this prospectus.

         We have agreed with the selling stockholders to keep the registration
statement of which this prospectus constitutes a part effective until the
earlier of (1) such time as all of the shares covered by this prospectus have
been disposed of pursuant to and in accordance with the registration statement
or (2) the date on which the shares may be sold pursuant to Rule 144(k) of the
Securities Act.EXHIBIT 10.3

         THE SECURITIES REPRESENTED HEREBY MAY NOT BE TRANSFERRED UNLESS (I)
SUCH SECURITIES HAVE BEEN REGISTERED FOR SALE PURSUANT TO THE SECURITIES ACT OF
1933, AS AMENDED, (II) SUCH SECURITIES MAY BE SOLD PURSUANT TO RULE 144(K), OR
(III) THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO
IT THAT SUCH TRANSFER MAY LAWFULLY BE MADE WITHOUT REGISTRATION UNDER THE
SECURITIES ACT OF 1933 OR QUALIFICATION UNDER APPLICABLE STATE SECURITIES LAWS.

         SUBJECT TO THE PROVISIONS OF SECTION 10 HEREOF, THIS WARRANT SHALL BE
VOID AFTER 5:00 P.M. EASTERN TIME ON [FIFTH ANNIVERSARY OF THE CLOSING DATE]
(the "EXPIRATION DATE").

No. C-__________

                             VANTAGEMED CORPORATION

                 SERIES C WARRANT TO PURCHASE _______ SHARES OF
                    COMMON STOCK, PAR VALUE $0.001 PER SHARE

         For VALUE RECEIVED, ____________________ ("Warrantholder"), is entitled
to purchase, subject to the provisions of this Warrant, from VantageMed
Corporation, a Delaware corporation ("Company"), at any time not later than 5:00
P.M., Eastern time, on the Expiration Date (as defined above), at an exercise
price per share equal to $0.55 (the exercise price in effect being herein called
the "Warrant Price"), ______ shares ("Warrant Shares") of the Company's Common
Stock, par value $0.001 per share ("Common Stock"). The number of Warrant Shares
purchasable upon exercise of this Warrant and the Warrant Price shall be subject
to adjustment from time to time as described herein.

         Section  1.       Registration. The Company shall maintain books for
                           ------------
the transfer and registration of the Warrant. Upon the initial issuance of this
Warrant, the Company shall issue and register the Warrant in the name of the
Warrantholder.

         Section 2.        Transfers. As provided herein, this Warrant may be
                           ---------
transferred only pursuant to a registration statement filed under the Securities
Act of 1933, as amended (the "Securities Act"), or an exemption from such
registration. Subject to such restrictions, the Company shall transfer this
Warrant from time to time upon the books to be maintained by the Company for
that purpose, upon surrender thereof for transfer properly endorsed or
accompanied by appropriate instructions for transfer and such other documents as
may be reasonably required by the Company, including, if required by the
Company, an opinion of its counsel to the effect that such transfer is exempt
from the registration requirements of the Securities Act, to establish that such
transfer is being made in accordance with the terms hereof, and a new Warrant
shall be issued to the transferee and the surrendered Warrant shall be canceled
by the Company.

<PAGE>

         Section 3.        Exercise of Warrant.
                           -------------------

                           (a)      Subject to the provisions hereof, the
Warrantholder may exercise this Warrant in whole or in part at any time prior to
its expiration upon surrender of the Warrant, together with delivery of the duly
executed Warrant exercise form attached hereto as Appendix A (the "Exercise
Agreement") and payment by cash, certified check or wire transfer of funds (or,
in certain circumstances, by cash-less exercise as provided below) for the
aggregate Warrant Price for that number of Warrant Shares then being purchased,
to the Company during normal business hours on any business day at the Company's
principal executive offices (or such other office or agency of the Company as it
may designate by notice to the Warrantholder). The Warrant Shares so purchased
shall be deemed to be issued to the Warrantholder or the Warrantholder's
designee, as the record owner of such shares, as of the close of business on the
date on which this Warrant shall have been surrendered (or evidence of loss,
theft or destruction thereof and security or indemnity satisfactory to the
Company), the Warrant Price shall have been paid and the completed Exercise
Agreement shall have been delivered. Certificates for the Warrant Shares so
purchased, representing the aggregate number of shares specified in the Exercise
Agreement, shall be delivered to the Warrantholder within a reasonable time, not
exceeding three (3) business days (the "Delivery Date"), after this Warrant
shall have been so exercised. The certificates so delivered shall be in such
denominations as may be requested by the Warrantholder and shall be registered
in the name of the Warrantholder or such other name as shall be designated by
the Warrantholder. If this Warrant shall have been exercised only in part, then,
unless this Warrant has expired, the Company shall, at its expense, at the time
of delivery of such certificates, deliver to the Warrantholder a new Warrant
representing the number of shares with respect to which this Warrant shall not
then have been exercised. As used herein, "business day" means a day, other than
a Saturday or Sunday, on which banks in New York City are open for the general
transaction of business. Each exercise hereof shall constitute the
re-affirmation by the Warrantholder that the representations and warranties
contained in Section 5 of the Purchase Agreement (as defined below) are true and
correct in all material respects with respect to the Warrantholder as of the
time of such exercise.

                           (b)      In addition to any other rights available to
the Warrantholder, if the Company fails to cause its transfer agent to transmit
to the Warrantholder a certificate or certificates representing the Warrant
Shares pursuant to an exercise on or before the Delivery Date, and if after such
date the Warrantholder is required by its broker to purchase (in an open market
transaction or otherwise) shares of Common Stock to deliver in satisfaction of a
sale by the Warrantholder of the Warrant Shares which the Warrantholder
anticipated receiving upon such exercise (a "Buy-In"), then the Company shall
(1) pay in cash to the Warrantholder the amount by which (x) the Warrantholder's
total purchase price (including brokerage commissions, if any) for the shares of
Common Stock so purchased exceeds (y) the amount obtained by multiplying (A) the
number of shares of Warrant Shares that the Company was required to deliver to
the Warrantholder in connection with the exercise at issue times (B) the price
at which the sell order giving rise to such purchase obligation was executed,
and (2) at the option of the Warrantholder, either reinstate the portion of the
Warrant and equivalent number of shares of Warrant Shares for which such
exercise was not honored or deliver to the Warrantholder the number of shares of
Common Stock that would have been issued had the Company timely complied with
its exercise and delivery obligations hereunder. For example, if the
Warrantholder purchases Common Stock having a total purchase price of $11,000 to
cover a Buy-In with respect to an attempted exercise of shares of Common Stock
with an aggregate sale price giving rise to such purchase obligation of $10,000,
under clause (1) of the immediately preceding sentence the Company shall be
required to pay the Warrantholder $1,000. The Warrantholder shall provide the
Company written notice indicating the amounts payable to the Warrantholder in
respect of the Buy-In, together with applicable confirmations and other evidence
reasonably requested by the Company. Nothing herein shall limit a
Warrantholder's right to pursue any other remedies available to it hereunder, at
law or in equity including, without limitation, a decree of specific performance
and/or injunctive relief with respect to the Company's failure to timely deliver
certificates representing shares of Common Stock upon exercise of this Warrant
as required pursuant to the terms hereof.

<PAGE>

         Section 4.        Compliance with the Securities Act of 1933. Except as
                           ------------------------------------------
provided in the Purchase Agreement (as defined below), the Company may cause the
legend set forth on the first page of this Warrant to be set forth on each
Warrant or similar legend on any security issued or issuable upon exercise of
this Warrant, unless counsel for the Company is of the opinion as to any such
security that such legend is unnecessary.

         Section 5.        Payment of Taxes. The Company will pay any
                           ----------------
documentary stamp taxes attributable to the initial issuance of Warrant Shares
issuable upon the exercise of the Warrant; provided, however, that the Company
shall not be required to pay any tax or taxes which may be payable in respect of
any transfer involved in the issuance or delivery of any certificates for
Warrant Shares in a name other than that of the Warrantholder in respect of
which such shares are issued, and in such case, the Company shall not be
required to issue or deliver any certificate for Warrant Shares or any Warrant
until the person requesting the same has paid to the Company the amount of such
tax or has established to the Company's reasonable satisfaction that such tax
has been paid. The Warrantholder shall be responsible for income taxes due under
federal, state or other law, if any such tax is due.

         Section 6.        Mutilated or Missing Warrants. In case this Warrant
                           -----------------------------
shall be mutilated, lost, stolen, or destroyed, the Company shall issue in
exchange and substitution of and upon cancellation of the mutilated Warrant, or
in lieu of and substitution for the Warrant lost, stolen or destroyed, a new
Warrant of like tenor and for the purchase of a like number of Warrant Shares,
but only upon receipt of evidence reasonably satisfactory to the Company of such
loss, theft or destruction of the Warrant, and with respect to a lost, stolen or
destroyed Warrant, reasonable indemnity or bond with respect thereto, if
requested by the Company.

         Section 7.        Reservation of Common Stock. The Company hereby
                           ---------------------------
represents and warrants that there have been reserved, and the Company shall at
all applicable times keep reserved until issued (if necessary) as contemplated
by this Section 7, out of the authorized and unissued shares of Common Stock,
sufficient shares to provide for the exercise of the rights of purchase
represented by this Warrant. The Company agrees that all Warrant Shares issued
upon due exercise of the Warrant shall be, at the time of delivery of the
certificates for such Warrant Shares, duly authorized, validly issued, fully
paid and non-assessable shares of Common Stock of the Company.

         Section 8.        Adjustments. Subject and pursuant to the provisions
                           -----------
of this Section 8, the Warrant Price and number of Warrant Shares subject to
this Warrant shall be subject to adjustment from time to time as set forth
hereinafter.

                  (a)      If the Company shall, at any time or from time to
time while this Warrant is outstanding, pay a dividend or make a distribution on
its Common Stock in shares of Common Stock, subdivide its outstanding shares of
Common Stock into a greater number of shares or combine its outstanding shares
of Common Stock into a smaller number of shares or issue by reclassification of
its outstanding shares of Common Stock any shares of its capital stock
(including any such reclassification in connection with a consolidation or
merger in which the Company is the continuing corporation), then the number of
Warrant Shares purchasable upon exercise of the Warrant and the Warrant Price in
effect immediately prior to the date upon which such change shall become
effective, shall be adjusted by the Company so that the Warrantholder thereafter
exercising the Warrant shall be entitled to receive the number of shares of
Common Stock or other capital stock which the Warrantholder would have received
if the Warrant had been exercised immediately prior to such event upon payment
of a Warrant Price that has been adjusted to reflect a fair allocation of the
economics of such event to the Warrantholder. Such adjustments shall be made
successively whenever any event listed above shall occur.

<PAGE>

                  (b)      If any capital reorganization, reclassification of
the capital stock of the Company, consolidation or merger of the Company with
another corporation in which the Company is not the survivor, or sale, transfer
or other disposition of all or substantially all of the Company's assets to
another corporation shall be effected, then, as a condition of such
reorganization, reclassification, consolidation, merger, sale, transfer or other
disposition, lawful and adequate provision shall be made whereby each
Warrantholder shall thereafter have the right to purchase and receive upon the
basis and upon the terms and conditions herein specified and in lieu of the
Warrant Shares immediately theretofore issuable upon exercise of the Warrant,
such shares of stock, securities or assets as would have been issuable or
payable with respect to or in exchange for a number of Warrant Shares equal to
the number of Warrant Shares immediately theretofore issuable upon exercise of
the Warrant, had such reorganization, reclassification, consolidation, merger,
sale, transfer or other disposition not taken place, and in any such case
appropriate provision shall be made with respect to the rights and interests of
each Warrantholder to the end that the provisions hereof (including, without
limitation, provision for adjustment of the Warrant Price) shall thereafter be
applicable, as nearly equivalent as may be practicable in relation to any shares
of stock, securities or assets thereafter deliverable upon the exercise hereof.
The Company shall not effect any such consolidation, merger, sale, transfer or
other disposition unless prior to or simultaneously with the consummation
thereof the successor corporation (if other than the Company) resulting from
such consolidation or merger, or the corporation purchasing or otherwise
acquiring such assets or other appropriate corporation or entity shall assume
the obligation to deliver to the Warrantholder, at the last address of the
Warrantholder appearing on the books of the Company, such shares of stock,
securities or assets as, in accordance with the foregoing provisions, the
Warrantholder may be entitled to purchase, and the other obligations under this
Warrant. The provisions of this paragraph (b) shall similarly apply to
successive reorganizations, reclassifications, consolidations, mergers, sales,
transfers or other dispositions.

                  (c)      In case the Company shall fix a payment date for the
making of a distribution to all holders of Common Stock (including any such
distribution made in connection with a consolidation or merger in which the
Company is the continuing corporation) of evidences of indebtedness or assets
(other than cash dividends or cash distributions payable out of consolidated
earnings or earned surplus or dividends or distributions referred to in Section
8(a)), or subscription rights or warrants, the Warrant Price to be in effect
after such payment date shall be determined by multiplying the Warrant Price in
effect immediately prior to such payment date by a fraction, the numerator of
which shall be the total number of shares of Common Stock outstanding multiplied
by the Market Price (as defined below) per share of Common Stock immediately
prior to such payment date, less the fair market value (as determined by the
Company's Board of Directors in good faith) of said assets or evidences of
indebtedness so distributed, or of such subscription rights or warrants, and the
denominator of which shall be the total number of shares of Common Stock
outstanding multiplied by such Market Price per share of Common Stock
immediately prior to such payment date. "Market Price" as of a particular date
(the "Valuation Date") shall mean the following: (a) if the Common Stock is then
listed on a national stock exchange, the closing sale price of one share of
Common Stock on such exchange on the last trading day prior to the Valuation
Date; (b) if the Common Stock is then quoted on The Nasdaq Stock Market, Inc.
("Nasdaq"), the National Association of Securities Dealers, Inc. OTC Bulletin
Board (the "Bulletin Board") or such similar exchange or association, the
closing sale price of one share of Common Stock on Nasdaq, the Bulletin Board or
such other exchange or association on the last trading day prior to the
Valuation Date or, if no such closing sale price is available, the average of
the high bid and the low asked price quoted thereon on the last trading day
prior to the Valuation Date; or (c) if the Common Stock is not then listed on a
national stock exchange or quoted on Nasdaq, the Bulletin Board or such other
exchange or association, the fair market value of one share of Common Stock as
of the Valuation Date, shall be determined in good faith by the Board of
Directors of the Company and the Warrantholder. If the Common Stock is not then
listed on a national securities exchange, the Bulletin Board or such other
exchange or association, the Board of Directors of the Company shall respond
promptly, in writing, to an inquiry by the Warrantholder prior to the exercise
hereunder as to the fair market value of a share of Common Stock as determined
by the Board of Directors of the Company. In the event that the Board of
Directors of the Company and the Warrantholder are unable to agree upon the fair
market value in respect of subpart (c) hereof, the Company and the Warrantholder
shall jointly select an appraiser, who is experienced in such matters. The
decision of such appraiser shall be final and conclusive, and the cost of such
appraiser shall be borne equally by the Company and the Warrantholder. Such
adjustment shall be made successively whenever such a payment date is fixed.

<PAGE>

                  (d)      An adjustment to the Warrant Price shall become
effective immediately after the payment date in the case of each dividend or
distribution and immediately after the effective date of each other event which
requires an adjustment.

                  (e)      In the event that, as a result of an adjustment made
pursuant to this Section 8, the Warrantholder shall become entitled to receive
any shares of capital stock of the Company other than shares of Common Stock,
the number of such other shares so receivable upon exercise of this Warrant
shall be subject thereafter to adjustment from time to time in a manner and on
terms as nearly equivalent as practicable to the provisions with respect to the
Warrant Shares contained in this Warrant.

                  (f)      Except as provided in subsection (g) hereof, if and
whenever the Company shall issue or sell, or is, in accordance with any of
subsections (f)(l) through (f)(7) hereof, deemed to have issued or sold, any
shares of Common Stock for no consideration or for a consideration per share
less than the Warrant Price in effect immediately prior to the time of such
issue or sale, then and in each such case (a "Trigger Issuance") the
then-existing Warrant Price, shall be reduced, as of the close of business on
the effective date of the Trigger Issuance, to a price determined as follows:

                  Adjusted Warrant Price = (A x B) + D
                                           -----------
                                               A+C

                                    where

                                    "A" equals the number of shares of Common
Stock outstanding, including Additional Shares of Common Stock (as defined
below) deemed to be issued hereunder, immediately preceding such Trigger
Issuance;

                                    "B" equals the Warrant Price in effect
immediately preceding such Trigger Issuance;

                                    "C" equals the number of Additional Shares
of Common Stock issued or deemed issued hereunder as a result of the Trigger
Issuance; and

                                    "D" equals the aggregate consideration, if
any, received or deemed to be received by the Company upon such Trigger
Issuance;

provided, however, that in no event shall the Warrant Price after giving effect
to such Trigger Issuance be greater than the Warrant Price in effect prior to
such Trigger Issuance.

<PAGE>

                  For purposes of this subsection (f), "Additional Shares of
Common Stock" shall mean all shares of Common Stock issued by the Company or
deemed to be issued pursuant to this subsection (f), other than Excluded
Issuances (as defined in subsection (g) hereof).

                  For purposes of this subsection (f), the following subsections
(f)(l) to (f)(8) shall also be applicable:

                           (f)(1) Issuance of Rights or Options. In case at any
                  time the Company shall in any manner grant (directly and not
                  by assumption in a merger or otherwise) any warrants or other
                  rights to subscribe for or to purchase, or any options for the
                  purchase of, Common Stock or any stock or security convertible
                  into or exchangeable for Common Stock (such warrants, rights
                  or options being called "Options" and such convertible or
                  exchangeable stock or securities being called "Convertible
                  Securities") whether or not such Options or the right to
                  convert or exchange any such Convertible Securities are
                  immediately exercisable, and the price per share for which
                  Common Stock is issuable upon the exercise of such Options or
                  upon the conversion or exchange of such Convertible Securities
                  (determined by dividing (i) the sum (which sum shall
                  constitute the applicable consideration) of (x) the total
                  amount, if any, received or receivable by the Company as
                  consideration for the granting of such Options, plus (y) the
                  aggregate amount of additional consideration payable to the
                  Company upon the exercise of all such Options, plus (z), in
                  the case of such Options which relate to Convertible
                  Securities, the aggregate amount of additional consideration,
                  if any, payable upon the issue or sale of such Convertible
                  Securities and upon the conversion or exchange thereof, by
                  (ii) the total maximum number of shares of Common Stock
                  issuable upon the exercise of such Options or upon the
                  conversion or exchange of all such Convertible Securities
                  issuable upon the exercise of such Options) shall be less than
                  the Warrant Price in effect immediately prior to the time of
                  the granting of such Options, then the total number of shares
                  of Common Stock issuable upon the exercise of such Options or
                  upon conversion or exchange of the total amount of such
                  Convertible Securities issuable upon the exercise of such
                  Options shall be deemed to have been issued for such price per
                  share as of the date of granting of such Options or the
                  issuance of such Convertible Securities and thereafter shall
                  be deemed to be outstanding for purposes of adjusting the
                  Warrant Price. Except as otherwise provided in subsection
                  8(f)(3), no adjustment of the Warrant Price shall be made upon
                  the actual issue of such Common Stock or of such Convertible
                  Securities upon exercise of such Options or upon the actual
                  issue of such Common Stock upon conversion or exchange of such
                  Convertible Securities.

                           (f)(2) Issuance of Convertible Securities. In case
                  the Company shall in any manner issue (directly and not by
                  assumption in a merger or otherwise) or sell any Convertible
                  Securities, whether or not the rights to exchange or convert
                  any such Convertible Securities are immediately exercisable,
                  and the price per share for which Common Stock is issuable
                  upon such conversion or exchange (determined by dividing (i)
                  the sum (which sum shall constitute the applicable
                  consideration) of (x) the total amount received or receivable
                  by the Company as consideration for the issue or sale of such
                  Convertible Securities, plus (y) the aggregate amount of
                  additional consideration, if any, payable to the Company upon
                  the conversion or exchange thereof, by (ii) the total number
                  of shares of Common

<PAGE>

                  Stock issuable upon the conversion or exchange of all such
                  Convertible Securities) shall be less than the Warrant Price
                  in effect immediately prior to the time of such issue or sale,
                  then the total maximum number of shares of Common Stock
                  issuable upon conversion or exchange of all such Convertible
                  Securities shall be deemed to have been issued for such price
                  per share as of the date of the issue or sale of such
                  Convertible Securities and thereafter shall be deemed to be
                  outstanding for purposes of adjusting the Warrant Price,
                  provided that (a) except as otherwise provided in subsection
                  8(f)(3), no adjustment of the Warrant Price shall be made upon
                  the actual issuance of such Common Stock upon conversion or
                  exchange of such Convertible Securities and (b) no further
                  adjustment of the Warrant Price shall be made by reason of the
                  issue or sale of Convertible Securities upon exercise of any
                  Options to purchase any such Convertible Securities for which
                  adjustments of the Warrant Price have been made pursuant to
                  the other provisions of subsection 8(f).

                           (f)(3) Change in Option Price or Conversion Rate.
                  Upon the happening of any of the following events, namely, if
                  the purchase price provided for in any Option referred to in
                  subsection 8(f)(l) hereof, the additional consideration, if
                  any, payable upon the conversion or exchange of any
                  Convertible Securities referred to in subsections 8(f)(l) or
                  8(f)(2), or the rate at which Convertible Securities referred
                  to in subsections 8(f)(l) or 8(f)(2) are convertible into or
                  exchangeable for Common Stock shall change at any time
                  (including, but not limited to, changes under or by reason of
                  provisions designed to protect against dilution), the Warrant
                  Price in effect at the time of such event shall forthwith be
                  readjusted to the Warrant Price which would have been in
                  effect at such time had such Options or Convertible Securities
                  still outstanding provided for such changed purchase price,
                  additional consideration or conversion rate, as the case may
                  be, at the time initially granted, issued or sold. On the
                  termination of any Option for which any adjustment was made
                  pursuant to this subsection 8(f) or any right to convert or
                  exchange Convertible Securities for which any adjustment was
                  made pursuant to this subsection 8(f) (including without
                  limitation upon the redemption or purchase for consideration
                  of such Convertible Securities by the Company), the Warrant
                  Price then in effect hereunder shall forthwith be changed to
                  the Warrant Price which would have been in effect at the time
                  of such termination had such Option or Convertible Securities,
                  to the extent outstanding immediately prior to such
                  termination, never been issued.

                           (f)(4) Stock Dividends. Subject to the provisions of
                  this Section 8(f), in case the Company shall declare a
                  dividend or make any other distribution upon any stock of the
                  Company (other than the Common Stock) payable in Common Stock,
                  Options or Convertible Securities, then any Common Stock,
                  Options or Convertible Securities, as the case may be,
                  issuable in payment of such dividend or distribution shall be
                  deemed to have been issued or sold without consideration.

                           (f)(5) Consideration for Stock. In case any shares of
                  Common Stock, Options or Convertible Securities shall be
                  issued or sold for cash, the consideration received therefor
                  shall be deemed to be the net amount received by the Company
                  therefor, after deduction therefrom of any expenses incurred
                  or any underwriting commissions or concessions paid or allowed
                  by the Company in connection therewith. In case any shares of
                  Common Stock, Options or Convertible Securities shall be
                  issued or sold for a consideration other than cash, the amount
                  of the consideration other than cash received by the Company
                  shall be deemed to be the fair value of such consideration as
                  determined in good faith by the Board of Directors of the
                  Company, after deduction of any expenses incurred or any
                  underwriting commissions or concessions paid or allowed by the
                  Company in connection therewith. In case any Options shall be
                  issued in connection with the issue and sale of

<PAGE>

                  other securities of the Company, together comprising one
                  integral transaction in which no specific consideration is
                  allocated to such Options by the parties thereto, such Options
                  shall be deemed to have been issued for such consideration as
                  determined in good faith by the Board of Directors of the
                  Company. If Common Stock, Options or Convertible Securities
                  shall be issued or sold by the Company and, in connection
                  therewith, other Options or Convertible Securities (the
                  "Additional Rights") are issued, then the consideration
                  received or deemed to be received by the Company shall be
                  reduced by the fair market value of the Additional Rights (as
                  determined using the Black-Scholes option pricing model or
                  another method mutually agreed to by the Company and the
                  Warrantholder). The Board of Directors of the Company shall
                  respond promptly, in writing, to an inquiry by the
                  Warrantholder as to the fair market value of the Additional
                  Rights. In the event that the Board of Directors of the
                  Company and the Warrantholder are unable to agree upon the
                  fair market value of the Additional Rights, the Company and
                  the Warrantholder shall jointly select an appraiser, who is
                  experienced in such matters. The decision of such appraiser
                  shall be final and conclusive, and the cost of such appraiser
                  shall be borne evenly by the Company and the Warrantholder.

                           (f)(6) Record Date. In case the Company shall take a
                  record of the holders of its Common Stock for the purpose of
                  entitling them (i) to receive a dividend or other distribution
                  payable in Common Stock, Options or Convertible Securities or
                  (ii) to subscribe for or purchase Common Stock, Options or
                  Convertible Securities, then such record date shall be deemed
                  to be the date of the issue or sale of the shares of Common
                  Stock deemed to have been issued or sold upon the declaration
                  of such dividend or the making of such other distribution or
                  the date of the granting of such right of subscription or
                  purchase, as the case may be.

                           (f)(7) Treasury Shares. The number of shares of
                  Common Stock outstanding at any given time shall not include
                  shares owned or held by or for the account of the Company or
                  any of its wholly-owned subsidiaries, and the disposition of
                  any such shares (other than the cancellation or retirement
                  thereof) shall be considered an issue or sale of Common Stock
                  for the purpose of this subsection (f).

                  (g)      Anything herein to the contrary notwithstanding, the
Company shall not be required to make any adjustment of the Warrant Price in the
case of the issuance of (A) capital stock, Options or Convertible Securities
issued to directors, officers, employees or consultants of the Company in
connection with their service as directors of the Company, their employment by
the Company or their retention as consultants by the Company pursuant to an
equity compensation program approved by the Board of Directors of the Company or
the compensation committee of the Board of Directors of the Company, (B) shares
of Common Stock issued upon the conversion or exercise of Options or Convertible
Securities issued prior to the date hereof, provided such securities are not
amended after the date hereof to increase the number of shares of Common Stock
issuable thereunder or to lower the exercise or conversion price thereof and/or
to materially adversely affect the Warrantholder, (C) securities issued pursuant
to that certain Purchase Agreement dated June 9, 2006, among the Company and the
Investors named therein (the "Purchase Agreement") and securities issued upon
the exercise or conversion of those securities, and (D) shares of Common Stock
issued or issuable by reason of a dividend, stock split or other distribution on
shares of Common Stock (but only to the extent that such a dividend, split or
distribution results in an adjustment in the Warrant Price pursuant to the other
provisions of this Warrant) (collectively, "Excluded Issuances").

<PAGE>

                  (h)      Upon any adjustment to the Warrant Price pursuant to
Section 8(f) above, the number of Warrant Shares purchasable hereunder shall be
adjusted by multiplying such number by a fraction, the numerator of which shall
be the Warrant Price in effect immediately prior to such adjustment and the
denominator of which shall be the Warrant Price in effect immediately
thereafter.

         Section 9.        Fractional Interest. The Company shall not be
                           -------------------
required to issue fractions of Warrant Shares upon the exercise of this Warrant.
If any fractional share of Common Stock would, except for the provisions of the
first sentence of this Section 9, be deliverable upon such exercise, the
Company, in lieu of delivering such fractional share, shall pay to the
exercising Warrantholder an amount in cash equal to the Market Price of such
fractional share of Common Stock on the date of exercise.

         Section 10.       Extension of Expiration Date. If the Company fails to
                           ----------------------------
cause any Registration Statement covering Registrable Securities (unless
otherwise defined herein, capitalized terms are as defined in the Registration
Rights Agreement relating to the Warrant Shares (the "Registration Rights
Agreement")) to be declared effective prior to the applicable dates set forth
therein, or if any of the events specified in Section 2(c)(ii) of the
Registration Rights Agreement occurs, and the Blackout Period (whether alone, or
in combination with any other Blackout Period) continues for more than 60 days
in any 12 month period, or for more than a total of 90 days, then the Expiration
Date of this Warrant shall be extended one day for each day beyond the 60-day or
90-day limits, as the case may be, that the Blackout Period continues.

         Section 11.       Benefits. Nothing in this Warrant shall be construed
                           --------
to give any person, firm or corporation (other than the Company and the
Warrantholder) any legal or equitable right, remedy or claim, it being agreed
that this Warrant shall be for the sole and exclusive benefit of the Company and
the Warrantholder.

         Section 12.       Notices to Warrantholder. Upon the happening of any
                           ------------------------
event requiring an adjustment of the Warrant Price, the Company shall promptly
give written notice thereof to the Warrantholder at the address appearing in the
records of the Company, stating the adjusted Warrant Price and the adjusted
number of Warrant Shares resulting from such event and setting forth in
reasonable detail the method of calculation and the facts upon which such
calculation is based. Failure to give such notice to the Warrantholder or any
defect therein shall not affect the legality or validity of the subject
adjustment.

         Section 13.       Identity of Transfer Agent. The Transfer Agent for
                           --------------------------
the Common Stock is American Stock Transfer & Trust Company. Upon the
appointment of any subsequent transfer agent for the Common Stock or other
shares of the Company's capital stock issuable upon the exercise of the rights
of purchase represented by the Warrant, the Company will mail to the
Warrantholder a statement setting forth the name and address of such transfer
agent.

         Section 14.       Notices. Unless otherwise provided, any notice
                           -------
required or permitted under this Warrant shall be given in writing and shall be
deemed effectively given as hereinafter described (i) if given by personal
delivery, then such notice shall be deemed given upon such delivery, (ii) if
given by telex or facsimile, then such notice shall be deemed given upon receipt
of confirmation of complete transmittal, (iii) if given by mail, then such
notice shall be deemed given upon the earlier of (A) receipt of such notice by
the recipient or (B) three days after such notice is deposited in first class
mail, postage prepaid, and (iv) if given by an internationally recognized
overnight air courier, then such notice shall be deemed given one business day
after delivery to such carrier. All notices shall be addressed as follows: if to
the Warrantholder, at its address as set forth in the Company's books and
records and, if to the Company, at the address as follows, or at such other
address as the Warrantholder or the Company may designate by ten days' advance
written notice to the other:

<PAGE>

                           If to the Company:

                                    VantageMed Corporation
                                    11060 White Rock Road, Suite 210
                                    Rancho Cordova, California 95670
                                    Attention:  Chief Financial Officer
                                    Fax:  916-6380504

                           With a copy to:

                                    DLA Piper Rudnick Gray Cary US LLP
                                    400 Capitol Mall, Suite 2400
                                    Sacramento, CA 95814
                                    Attention:   Kevin A. Coyle, Esq.
                                    Fax:  916-930-3201

         Section 15.       Registration Rights. The initial Warrantholder is
                           -------------------
entitled to the benefit of certain registration rights with respect to the
shares of Common Stock issuable upon the exercise of this Warrant as provided in
the Registration Rights Agreement, and any subsequent Warrantholder may be
entitled to such rights.

         Section 16.       Successors.  All the covenants and provisions hereof
                           ----------
by or for the benefit of the Warrantholder shall bind and inure to the benefit
of its respective successors and assigns hereunder.

         Section 17.       Governing Law; Consent to Jurisdiction; Waiver of
                           -------------------------------------------------
Jury Trial. This Warrant shall be governed by, and construed in accordance with,
----------
the internal laws of the State of New York, without reference to the choice of
law provisions thereof. The Company and, by accepting this Warrant, the
Warrantholder, each irrevocably submits to the exclusive jurisdiction of the
courts of the State of New York located in New York County and the United States
District Court for the Southern District of New York for the purpose of any
suit, action, proceeding or judgment relating to or arising out of this Warrant
and the transactions contemplated hereby. Service of process in connection with
any such suit, action or proceeding may be served on each party hereto anywhere
in the world by the same methods as are specified for the giving of notices
under this Warrant. The Company and, by accepting this Warrant, the
Warrantholder, each irrevocably consents to the jurisdiction of any such court
in any such suit, action or proceeding and to the laying of venue in such court.
The Company and, by accepting this Warrant, the Warrantholder, each irrevocably
waives any objection to the laying of venue of any such suit, action or
proceeding brought in such courts and irrevocably waives any claim that any such
suit, action or proceeding brought in any such court has been brought in an
inconvenient forum. EACH OF THE COMPANY AND, BY ITS ACCEPTANCE HEREOF, THE
WARRANTHOLDER HEREBY WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY
LITIGATION WITH RESPECT TO THIS WARRANT AND REPRESENTS THAT COUNSEL HAS BEEN
CONSULTED SPECIFICALLY AS TO THIS WAIVER.

<PAGE>

         Section 18.       Call Provision. Notwithstanding any other provision
                           --------------
contained herein to the contrary, in the event that the closing bid price of a
share of Common Stock as traded on the Bulletin Board (or such other exchange or
stock market on which the Common Stock may then be listed or quoted) equals or
exceeds $1.50, as adjusted from time to time as described herein, for twenty
(20) consecutive trading days commencing after the second anniversary of the
Closing Date and after the Registration Statement (as defined in the
Registration Rights Agreement) has been declared effective, the Company, upon
thirty (30) days prior written notice (the "Notice Period") given to the
Warrantholder within one business day immediately following the end of such
twenty (20) trading day period, may call this Warrant, in whole but not in part,
at a redemption price equal to $0.01 per share of Common Stock then purchasable
pursuant to this Warrant; provided that (i) the Company simultaneously calls all
Company Warrants (as defined below) on the same terms and (ii) all of the shares
of Common Stock issuable hereunder either (A) are registered pursuant to an
effective Registration Statement (as defined in the Registration Rights
Agreement) which has not been suspended and for which no stop order is in
effect, and pursuant to which the Warrantholder is able to sell such shares of
Common Stock at all times during the Notice Period or (B) no longer constitute
Registrable Securities (as defined in the Registration Rights Agreement).
Notwithstanding any such notice by the Company, the Warrantholder shall have the
right to exercise this Warrant prior to the end of the Notice Period.

         Section 18.       Cashless Exercise. Notwithstanding any other
                           -----------------
provision contained herein to the contrary, from and after the first anniversary
of the Closing Date (as defined in the Purchase Agreement) and so long as the
Company is required under the Registration Rights Agreement to have effected the
registration of the Warrant Shares for sale to the public pursuant to a
Registration Statement (as such term is defined in the Registration Rights
Agreement), if (i) the Warrant Shares may not be freely sold to the public for
any reason (including, but not limited to, the failure of the Company to have
effected the registration of the Warrant Shares or to have a current prospectus
available for delivery or otherwise, but excluding the period of any Allowed
Delay (as defined in the Registration Rights Agreement) or (ii) the Company has
initiated a call pursuant to the provisions of Section 18 herein and the Warrant
Shares may not be freely sold to the public for any reason, including, with
respect to the Investors that are individuals, prohibitions the purchase or sale
of securities of the Company by such individual under applicable federal or
state securities laws, the Warrantholder may elect to receive, without the
payment by the Warrantholder of the aggregate Warrant Price in respect of the
shares of Common Stock to be acquired, shares of Common Stock equal to the value
of this Warrant or any portion hereof by the surrender of this Warrant (or such
portion of this Warrant being so exercised) together with the Net Issue Election
Notice annexed hereto as Appendix B duly executed, at the office of the Company.
Thereupon, the Company shall issue to the Warrantholder such number of fully
paid, validly issued and nonassessable shares of Common Stock as is computed
using the following formula:

                                    X = Y (A - B)
                                        ---------
                                            A

where

                           X =      the number of shares of Common Stock which
the Warrantholder has then requested be issued to the Warrantholder;

                           Y =      the total number of shares of Common Stock
covered by this Warrant which the Warrantholder has surrendered at such time for
cash-less exercise (including both shares to be issued to the Warrantholder and
shares to be canceled as payment therefor);

                           A =      the "Market Price" of one share of Common
Stock as at the time the net issue election is made; and

<PAGE>

                           B =      the Warrant Price in effect under this
Warrant at the time the net issue election is made.

         Section 19.       Ownership Cap and Exercise Restriction.
                           --------------------------------------
Notwithstanding anything to the contrary set forth in this Warrant, at no time
may a Holder of this Warrant exercise this Warrant if the number of shares of
Common Stock to be issued pursuant to such exercise would exceed, when
aggregated with all other shares of Common Stock owned by such Holder at such
time, the number of shares of Common Stock which would result in such Holder
beneficially owning (as determined in accordance with Section 13(d) of the
Exchange Act and the rules thereunder) in excess of 9.9% of the then issued and
outstanding shares of Common Stock; provided, however, that upon a holder of
this Warrant providing the Issuer with sixty-one (61) days notice (pursuant to
Section 14 hereof) (the "Waiver Notice") that such Holder would like to waive
this Section 19 with regard to any or all shares of Common Stock issuable upon
exercise of this Warrant, this Section 19 will be of no force or effect with
regard to all or a portion of the Warrant referenced in the Waiver Notice;
provided, further, that this provision shall be of no further force or effect
during the sixty-one (61) days immediately preceding the expiration of the term
of this Warrant.

         Section 20.       No Rights as Stockholder.  Prior to the exercise of
                           ------------------------
this Warrant, the Warrantholder shall not have or exercise any rights as a
stockholder of the Company by virtue of its ownership of this Warrant.

         Section 21.       Amendment; Waiver. This Warrant is one of a series of
                           -----------------
Warrants of like tenor issued by the Company pursuant to the Purchase Agreement
and initially covering an aggregate of 1,111,112 shares of Common Stock
(collectively, the "Company Warrants"). Any term of this Warrant may be amended
or waived (including the adjustment provisions included in Section 8 of this
Warrant) upon the written consent of the Company and the holders of Company
Warrants representing at least two-thirds of the number of shares of Common
Stock then subject to all outstanding Company Warrants (the "Majority Holders");
provided, that (x) any such amendment or waiver must apply to all Company
Warrants; and (y) the number of Warrant Shares subject to this Warrant, the
Warrant Price and the Expiration Date may not be amended, and the right to
exercise this Warrant may not be altered or waived, without the written consent
of the Warrantholder.

         Section 22.       Section Headings.  The section headings in this
                           ----------------
Warrant are for the convenience of the Company and the Warrantholder and in no
way alter, modify, amend, limit or restrict the provisions hereof.

<PAGE>

         IN WITNESS WHEREOF, the Company has caused this Warrant to be duly
executed, as of the ______ day of June, 2006.

                                                  VANTAGEMED CORPORATION

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

<PAGE>

                                   APPENDIX A
                             VANTAGEMED CORPORATION
                              WARRANT EXERCISE FORM

To VantageMed Corporation:

         The undersigned hereby irrevocably elects to exercise the right of
purchase represented by the within Warrant ("Warrant") for, and to purchase
thereunder by the payment of the Warrant Price and surrender of the Warrant,
_______________ shares of Common Stock ("Warrant Shares") provided for therein,
and requests that certificates for the Warrant Shares be issued as follows:

                                           -------------------------------------
                                           Name

                                           -------------------------------------
                                           Address

                                           -------------------------------------

                                           -------------------------------------
                                           Federal Tax ID or Social Security No.

                                           -------------------------------------
                                           Number Shares Beneficially Owned
                                           Prior to This Transaction (as
                                           determined in accordance with Section
                                           13(d) of the Exchange Act and the
                                           rules thereunder)

         and delivered by (certified mail to the above address, or
(electronically (provide DWAC Instructions:___________________), or (other
(specify): _____________________________).

and, if the number of Warrant Shares shall not be all the Warrant Shares
purchasable upon exercise of the Warrant, that a new Warrant for the balance of
the Warrant Shares purchasable upon exercise of this Warrant be registered in
the name of the undersigned Warrantholder or the undersigned's Assignee as below
indicated and delivered to the address stated below.

Dated: ___________________, ____

                                                Signature:
                                                           ---------------------
Note:  The signature must correspond with
the name of the Warrantholder as written        --------------------------------
on the first page of the Warrant in every       Name (please print)
particular, without alteration or enlargement
or any change whatever, unless the Warrant      Assignee:
has been assigned.
                                                --------------------------------

                                                --------------------------------

<PAGE>

                                   APPENDIX B
                             VANTAGEMED CORPORATION
                            NET ISSUE ELECTION NOTICE

To: VantageMed Corporation

Date:[_________________________]

         The undersigned hereby elects under Section 18 of this Warrant to
surrender the right to purchase [____________] shares of Common Stock pursuant
to this Warrant and hereby requests the issuance of [_____________] shares of
Common Stock. The certificate(s) for the shares issuable upon such net issue
election shall be issued in the name of the undersigned or as otherwise
indicated below.

-----------------------------------------
Signature

-----------------------------------------
Name for Registration

-----------------------------------------
Mailing Address

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