Document:

Asset Purchase and LeaseBack Agreement

 EXHIBIT 10.56 
  
 ASSET PURCHASE AND LEASEBACK AGREEMENT 
  
 This Asset Purchase And LeaseBack Agreement (“Agreement”) is made and entered into as of August 15, 2003 by
and among Molecular Imaging Sorrento Valley LLC, a Delaware limited liability company (“PET LLC”), Molecular Imaging Cyclotron LLC, a Delaware limited liability company (“Cyclotron LLC”), and the Regents of the
University of California, a California corporation, on behalf of UCSD Medical Group (“UCSD”), with reference to the following facts: 
  
 A. PET LLC is simultaneously herewith entering into an Asset Purchase Agreement dated as of August 15, 2003 (the “VI PET Purchase
Agreement”) with Vital Imaging, Inc., a Nevada corporation, and its wholly-owned California limited liability company, Healthscan Metabolic Imaging LLC (collectively, “Vital Imaging”), pursuant to which PET LLC has agreed
to purchase from Vital Imaging a CTI HR+ Positron Emission Tomography (“PET”) scanner and certain tenant improvements relating thereto (the “PET Scanner”) at the imaging center located at 11388 Sorrento Valley Road,
San Diego, California 92121 (the “Center”). 
  
 B. Cyclotron LLC has entered into an Asset Purchase Agreement dated as of May 12, 2003, as amended with the First Amendment dated as of July 23, 2003 (the “VI Cyclotron Purchase Agreement”), with Vital Imaging pursuant to
which Cyclotron LLC has purchased from Vital Imaging a CTI RDS 111 scanner and certain tenant improvements relating thereto (the “Cyclotron “) located at the Center. 
  
 C. UCSD desires to (i) purchase the PET Acquired Assets from PET LLC and sublease the PET Acquired Assets to PET LLC and
(ii) purchase the Cyclotron Acquired Assets from Cyclotron LLC and sublease the Cyclotron Acquired Assets to Cyclotron LLC, on the terms and conditions as set forth herein. 
  
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties agree as follows: 
  
 1. Basic Transaction.

  
 1.1 Purchase and Sale of PET Acquired Assets. On and
subject to the terms and conditions of this Agreement, UCSD agrees to purchase from PET LLC and PET LLC agrees to sell, transfer, convey, and deliver to UCSD at the Closing for the consideration specified below in this Section 1, all of the right,
title, and interest in and to the following assets (collectively, the “PET Acquired Assets”) purchased from Vital Imaging under the VI PET Purchase Agreement: (i) the specific tangible assets of the PET Scanner and tenant
improvements listed in Exhibit ”A”, (ii) all transferable licenses and permits, and normal business records associated with the PET Scanner and appropriate and necessary for the continued operation of the PET Scanner, and (iii) all
customer contracts, professional reading contracts and related goodwill. 

 1.2 Assumption of PET Liabilities. UCSD shall not assume and shall under no circumstances be
responsible for any obligation or liability of PET LLC with respect to and/or arising out of the PET Acquired Assets, regardless of amount, character or description, or whether accrued, contingent or otherwise, except for the assumption of a capital
equipment lease for the PET Scanner from MarCap Financial (or successor lessor) (“MarCap”), not to exceed the amount of $1,976,200.00 (the “PET Equipment Debt”). 
  
 1.3 PET Purchase Price. The total purchase price for the PET Acquired
Assets is Five Hundred Thousand Dollars ($500,000.00) (the “PET Purchase Price”). UCSD shall pay to PET LLC the PET Purchase Price in cash or by bank check on the Closing Date. 
  
 1.4 Purchase and Sale of Cyclotron. On and subject to the terms and
conditions of this Agreement, UCSD agrees to purchase from Cyclotron LLC and Cyclotron LLC agrees to sell, transfer, convey, and deliver to UCSD at the Closing, for the consideration specified below in this Section 1, all of the right, title, and
interest in and to the following assets (collectively, the “Cyclotron Acquired Assets”) purchased from Vital Imaging under the VI Cyclotron Purchase Agreement: (i) the specific tangible assets of the Cyclotron and tenant
improvements listed in Exhibit ”A”, and (ii) all transferable licenses and permits, and normal business records associated with the Cyclotron and appropriate and necessary for the continued operation of the Cyclotron. 
  
 1.5 Assumption of Cyclotron Liabilities. UCSD shall not assume and
shall under no circumstances be responsible for any obligation or liability of Cyclotron LLC with respect to and/or arising out of the Cyclotron Acquired Assets, regardless of amount, character or description, or whether accrued, contingent or
otherwise except for the assumption of a capital equipment lease for the Cyclotron from MarCap, not to exceed the amount of $2,123,800.00 (the “Cyclotron Equipment Debt”). 
  
 1.6 Cyclotron Purchase Price. The total purchase price for the
Cyclotron Acquired Assets is Seven Hundred Fifty Thousand Dollars ($750,000.00) (the “Cyclotron Purchase Price”). UCSD shall pay to Cyclotron LLC the Cyclotron Purchase Price in cash or by bank check on the Closing Date. 

 
 1.7 Professional Services Agreement. Simultaneously with the
Closing, UCSD and PET LLC shall enter into a Professional Services Agreement (the “Professional Services Agreement”) pursuant to which the UCSD Radiology Faculty shall agree to provide services of Board Certified Nuclear Medicine
Physicians for PET LLC. 
  
 1.8 Sublease of Acquired
Assets. 
  
 (a) PET Acquired Assets. On and subject
to the terms and conditions of this Agreement and the sublease terms attached hereto as Exhibit “B” (the “PET Equipment Sublease”), at the Closing, UCSD agrees to sublease the PET Acquired Assets to PET LLC. Until such
time as UCSD becomes a member of PET LLC as provided in Section 1.10(a) and for so long 

 
as the PET Equipment Sublease continues, the consideration to be paid by PET LLC for the sublease of the PET Acquired Assets shall be as described in the PET
Equipment Sublease. PET LLC and UCSD contemplate that the PET Acquired Assets shall be upgraded to include CT capabilities and agree to negotiate with MarCap to add such additional cost to the PET Equipment Debt. 
  
 (b) Cyclotron Acquired Assets. On and subject to the terms and
conditions of this Agreement and the lease terms attached hereto as Exhibit “C” (the “Cyclotron Equipment Sublease”), at the Closing, UCSD agrees to sublease the Cyclotron Acquired Assets to Cyclotron LLC. Until such time
as UCSD becomes a member of Cyclotron LLC as provided in Section 1.10(b) and for so long as the Cyclotron Equipment Sublease continues, the consideration to be paid by Cyclotron LLC for the sublease of the Cyclotron Acquired Assets shall be as
described in the Cyclotron Equipment Sublease. 
  
 1.9
Reserved. 
  
 1.10 UCSD Capital Contribution. 

  
 (a) PET LLC. UCSD may elect to become a member of PET
LLC at any time before August 15, 2004 by providing written notice to PET LLC. If UCSD elects to become a member of PET LLC, UCSD shall enter into the Operating Agreement (the “PET Operating Agreement”) of PET LLC substantially in
the form set forth in Exhibit D. UCSD acknowledges and agrees that the PET Operating Agreement may be amended to provide for additional investors in the event PET LLC requires additional capital. Any such amendments shall be made in
consultation with UCSD. Simultaneously with its execution of the PET Operating Agreement, (i) UCSD shall contribute to PET LLC the PET Acquired Assets and any and all accrued and unpaid Additional Rent (as defined in the PET Equipment Sublease) owed
by PET LLC to UCSD under the PET Equipment Sublease (and such obligation shall be extinguished in exchange for such membership interest), (ii) UCSD shall receive a sixty six and two thirds percent (66  2/3%) PET Allocation Interest in PET LLC, (iii) UCSD shall receive a forty-nine percent (49%) equity interest in PET LLC, (iv) the PET Equipment Sublease
shall be terminated, (v) PET LLC and UCSD shall work in good faith to cause MarCap to permit the PET Equipment Debt to be assigned to PET LLC; provided, however, such assignment may be conditioned upon UCSD providing a letter of credit or pledge of
its membership interest, or such other form of security acceptable to MarCap and/or any other debtors of PET LLC, to secure such PET Equipment Debt and any other equipment debt of PET LLC in proportion to its PET Allocation Interest, and (vi)
UCSD’s capital contribution to PET LLC shall be deemed to be $500,000 less any and all Additional Rent paid to UCSD under the PET Equipment Sublease prior to UCSD’s execution of the PET Operating Agreement. “PET Allocation
Interest” shall be the percentage of allocation of net profit, loss, depreciation and distributions to each member of PET LLC, as defined in the PET Operating Agreement. The UCSD capital contribution described in this Section 1.10(a) shall be
made in such a manner reasonably calculated to allow PET Manager to continue to consolidate the revenues of PET LLC under generally accepted accounting principles. UCSD acknowledges and agrees the percentage of PET Allocation Interest and equity
interest in PET LLC is subject to adjustment to reflect any dilution resulting from additional capital contributions to 

  

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PET LLC prior to UCSD’s member contribution described in this Section 1.10(a). 
  
 (b) Cyclotron LLC. UCSD may elect to become a member of Cyclotron LLC (i) at any time after August 15, 2005 and
before August 15, 2006 by providing written notice to Cyclotron LLC or (ii) within ninety (90) calendar days after the date that Cyclotron LLC provides written notice to UCSD that Cyclotron LLC requires additional capital (and provided that UCSD
provides written notice to Cyclotron LLC within twenty (20) calendar days of receipt of such notice that UCSD intends to become a member) if Cyclotron LLC requires additional capital and the members of Cyclotron LLC have elected not to meet such
additional capital requirements with loan(s) to Cyclotron LLC. If UCSD elects to become a member of Cyclotron LLC, UCSD shall enter into the Operating Agreement (the “Cyclotron Operating Agreement”) of Cyclotron LLC substantially in
the form set forth in Exhibit E. UCSD acknowledges and agrees that the Cyclotron Operating Agreement may be amended to provide for additional investors in the event Cyclotron LLC requires additional capital. Any such amendments shall be made
in consultation with UCSD. UCSD also acknowledges and agrees that if the members of Cyclotron LLC elect to meet any additional capital requirements with loan(s) to Cyclotron LLC, such loan(s) shall be repaid to the member(s) before the payments of
any Distributable Cash or Additional Rent. Simultaneously with its execution of the Cyclotron Operating Agreement, (i) UCSD shall contribute to Cyclotron LLC the Cyclotron Acquired Assets and any and all accrued and unpaid Additional Rent (as
defined in the Cyclotron Equipment Lease) owed by Cyclotron LLC to UCSD under the Cyclotron Equipment Sublease (and such obligation shall be extinguished in exchange for such membership interest), and if UCSD becomes a member of Cyclotron LLC as a
result of the requirement of additional capital, UCSD shall also contribute to Cyclotron LLC its pro-rata share of such additional capital requirements based on its Allocation Interest, (ii) UCSD shall receive a fifty percent (50%) Cyclotron
Allocation Interest in Cyclotron LLC, (iii) UCSD shall receive a thirty seven percent (37%) equity interest in Cyclotron LLC, (iv) the Cyclotron Equipment Sublease shall be terminated, (v) Cyclotron LLC and UCSD shall work in good faith to cause
MarCap to permit the Cyclotron Equipment Debt to be assigned to Cyclotron LLC; provided, however, such assignment may be conditioned upon UCSD providing a letter of credit or pledge of its membership interest, or such other form of security
acceptable to MarCap and/or any other debtors of Cyclotron LLC, to secure such Cyclotron Equipment Debt and any other equipment debt of Cyclotron LLC in proportion to its Cyclotron Allocation Interest, and (vi) UCSD’s capital contribution to
Cyclotron LLC shall be deemed to be $750,000 less any and all Additional Rent paid to UCSD under the Cyclotron Equipment Sublease prior to UCSD’s execution of the Cyclotron Operating Agreement. “Cyclotron Allocation Interest” shall be
the percentage of allocation of net profit, loss, depreciation and distributions to each member of Cyclotron LLC, as defined in the Cyclotron Operating Agreement. The UCSD capital contribution described in this Section 1.10(b) shall be made in such
a manner reasonably calculated to allow Cyclotron Manager to continue to consolidate the revenues of Cyclotron LLC under generally accepted accounting principles. UCSD acknowledges and agrees the percentage of Cyclotron Allocation Interest and
equity interest in Cyclotron LLC is subject to adjustment to reflect any dilution resulting from additional capital contributions to Cyclotron LLC prior to UCSD’s member contribution described in this Section 1.10(b). Cyclotron LLC agrees to
use commercially reasonable efforts to cause the Cyclotron Operating Agreement to be amended 

  

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toreflect the terms for the payment of the Manager’s management fee, Additional Rent, and Distributable Cash as set forth in Paragraph 3 of the
Cyclotron Equipment Sublease. 
  
 1.11 Medical Advisory
Board. As requested by the Manager of PET LLC and Cyclotron LLC, UCSD shall appoint one or more representatives to the Medical Advisory Board for PET LLC and Cyclotron LLC (i) to provide a resource for informing other physicians in the medical
community of the benefits and advantages of molecular imaging and the services provided by PET LLC and Cyclotron LLC, (ii) to provide educational services to PET LLC and Cyclotron LLC personnel and the medical community in general, and (iii) to
provide general advice to PET LLC and Cyclotron LLC. Any advice given to PET LLC or Cyclotron LLC by the LLC Medical Advisory Board shall not be binding on PET LLC or Cyclotron LLC nor shall the members of the Medical Advisory Boards have any vote
or rights of approval on any PET LLC or Cyclotron LLC matters. 
  
 1.12 Right of First Offer. 
  
 (a) At any time
prior to December 31, 2010, if either UCSD, on the one hand, or MIC, Cyclotron LLC or PET LLC (collectively and individually for purposes of this Section 1.12, a “MIC Party” or the “MIC Parties”), or any of their respective
affiliates, intends to, in San Diego County, California, establish a fixed site molecular imaging facility primarily for clinical use and/or a facility for the production of radio-pharmaceuticals for primarily clinical use, which is similar in
nature to the Center (each, a “New Project”), UCSD or the MIC Parties (or any of their respective affiliates), as the case may be (the “Delivering Party”), shall provide the other party (the “Receiving
Party”) written notice of the New Project, describing in reasonable detail the terms and conditions of the proposed New Project (including the amount and form of the proposed third-party investment and other material terms of the
investment). The Receiving Party will have a period of twenty (20) business days after receipt of the notice to deliver a written notice (the “Notice of Interest”) to the Delivering Party indicating the Receiving Party’s
interest in the New Project. If the Receiving Party delivers a Notice of Interest to the Delivering Party indicating its interest in the New Project, then the parties shall negotiate in good faith to finalize the terms of such New Project and to
enter into definitive documentation with respect thereto, on terms substantially as provided in this Agreement. If the parties do not enter into definitive documentation for the New Project within ninety (90) calendar days after the date of the
Notice of Interest, then the Delivering Party shall be free to negotiate with other third parties concerning the New Project. If the Receiving Party does not deliver a Notice of Interest to the Delivering Party within such twenty (20) business day
period, (a) the Receiving Party shall be deemed to have rejected the New Project and (b) the Delivering Party may, during a ninety (90) calendar day period following the expiration of the twenty (20) business day period referred to above, enter into
agreements with any other third-party participant with respect to such New Project upon terms no more favorable to the third-party participant than those specified in the notice delivered to the Receiving Party with respect to such New Project.

  
 (b) Specific Performance. UCSD, on the one hand, and
the MIC Parties, on the other hand, recognize and agree that any violation of this Section 1.12 may not be reasonably 

  

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or adequately compensated in damages and that, in addition to any other relief to which the may be entitled by reason of such violation, the aggrieved party
shall also be entitled to permanent and temporary injunctive and equitable relief and, pending determination of any dispute with respect to such violation, no bond or security shall be required in connection therewith. Without limiting the
generality of the foregoing, each party specifically acknowledges that a showing by the aggrieved party of any breach of any provision of this Section 1.12 shall constitute, for the purposes of all judicial determinations of the issue of injunctive
relief, conclusive proof of all of the elements necessary to entitle the aggrieved party to interim and permanent injunctive relief against the other party with respect to such breach. 
  
 (c) Severability of Covenants. If any part of this Section 1.12 is held by a court of competent jurisdiction or any
other governmental authority to be invalid, void, unenforceable or against public policy for any reason, the remainder of such provision shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and such court
or authority shall be empowered to substitute, to the extent enforceable, provisions similar thereto or other provisions so as to provide to the aggrieved party the benefits intended by such provisions, to the fullest extent permitted by applicable
law. 
  
 2. Closing. The closing of the transactions
contemplated by this Agreement (“Closing”) shall take place at a mutually agreeable location on the first business day following the satisfaction or waiver of all conditions to the obligations of the parties to consummate the
transactions contemplated hereby or such other date as UCSD, PET LLC and Cyclotron LLC may mutually determine, which the parties anticipate to occur on August 15, 2003 (the “Closing Date”). 
  
 2.1 Deliveries By UCSD. On the Closing Date, (a) UCSD shall deliver
to PET LLC (i) by wire transfer or check, the amount of Five Hundred Thousand Dollars ($500,000), (ii) an executed copy of the Professional Services Agreement, (iii) unless waived by PET LLC as provided in Section 2.3, an executed copy of
UCSD’s assumption of the PET Equipment Debt, and (iv) anything else reasonably contemplated by this Agreement to be delivered at the Closing in order to lease the Pet Acquired Assets to PET LLC, and (b) UCSD shall deliver to Cyclotron LLC (i)
by wire transfer or check, the amount of Seven Hundred Fifty Thousand Dollars ($750,000), (ii) unless waived by Cyclotron LLC as provided in Section 2.3, an executed copy of UCSD’s assumption of the Cyclotron Equipment Debt, and (iv) anything
else reasonably contemplated by this Agreement to be delivered at the Closing in order to sublease the Cyclotron Acquired Assets to Cyclotron LLC. 
  
 2.2 Deliveries By PET LLC and Cyclotron LLC. On the Closing Date, (a) PET LLC shall deliver to UCSD (i) a copy of the executed sublease agreement
(the “PET Sublease”) between PET LLC and Vital Imaging, approved by BC Sorrento, LLC, a California limited liability company (the “Landlord”), pursuant to which PET LLC shall have use of the Center, (ii) a copy of
the executed VI PET Purchase Agreement, and (iii) anything else reasonably contemplated by this Agreement to be delivered at the Closing in order to transfer the PET Scanner and PET Acquired Assets to UCSD in accordance with the terms of this
Agreement, and (b) Cyclotron LLC shall deliver to UCSD (ia copy of the executed sublease agreement (the “Cyclotron Sublease”) between 

  

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Cyclotron LLC and Vital Imaging, approved by the Landlord, pursuant to which Cyclotron LLC shall have use of the Center, (ii) a copy of the executed VI
Cyclotron Purchase Agreement, and (iii) anything else reasonably contemplated by this Agreement to be delivered at the Closing in order to transfer the Cyclotron and Cyclotron Acquired Assets to UCSD in accordance with the terms of this Agreement.

  
 2.3 Waiver of UCSD Assumption of Equipment Debt. If
UCSD’s assumption of the PET Equipment Debt and/or Cyclotron Equipment Debt from Marcap is unduly delaying the Closing, PET LLC and/or Cyclotron LLC may provide written notice to UCSD of its election to waive this condition to Closing;
provided, however, such waiver shall be conditioned upon the following: (i) UCSD shall be solely financially responsible for such PET Equipment Debt or Cyclotron Equipment Debt in the event the lease described in Section 1.8(a) or (b), respectively
is terminated, or the PET LLC lease with Marcap for the PET Equipment Debt, or the Cyclotron LLC lease with Marcap for the Cyclotron Equipment Debt, is in default, (ii) the corporate guaranty provided by MIC to Marcap shall be terminates, and (iii)
UCSD shall use its continous best efforts to cause MarCap to assign such PET Equipment Debt and Cyclotron Equipment Debt to UCSD as soon as possible after the Closing, and in the event MarCap does not allow such assignment, UCSD shall prepay to
MarCap the entire amount of the PET Equipment Debt and Cyclotron Equipment Debt, or provide adequate assurances to PET LLC and Cyclotron LLC, in their sole discretion, that such PET Equipment Debt and Cyclotron Equipment Debt will be paid by UCSD,
such as establishing a letter of credit in favor of PET LLC and Cyclotron LLC.  
  
 3. Conditions Precedent to Closing. 
  
 3.1 Conditions to PET LLC’s and Cyclotron LLC’s Obligations. 
  
 (a) PET LLC. PET LLC’s obligations to make the deliveries at the Closing are subject to each of the following conditions: (i) the VI PET
Purchase Agreement has been executed by Vital Imaging and PET LLC, (ii) the PET Sublease has been executed by Vital Imaging and PET LLC and approved by the Landlord, (iii) all of the representations and warranties of UCSD contained herein shall
continue to be true and correct at the Closing in all respects, and (iv) UCSD has delivered to PET LLC, or is prepared to deliver, the amount of Five Hundred Thousand Dollars ($500,000). 
  
 (b) Cyclotron LLC. PET LLC’s obligations to make the deliveries at the Closing are subject to each of the
following conditions: (i) the Cyclotron Sublease has been executed by Vital Imaging and Cyclotron LLC and approved by the Landlord, (ii) all of the representations and warranties of UCSD contained herein shall continue to be true and correct at the
Closing in all respects, and (iii) UCSD has delivered to PET LLC, or is prepared to deliver, the amount of Seven Hundred Fifty Thousand Dollars ($750,000). 
  
 3.2 Conditions to UCSD’s Obligations. UCSD’s obligations to make the deliveries at the Closing are subject to each of the following
conditions: (i) each of PET LLC and 

  

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Cyclotron LLC shall have performed or tendered performance of their covenants and obligations as set forth herein, (ii) all the representations and
warranties of PET LLC and Cyclotron LLC contained herein shall continue to be true and correct at the Closing in all respects, (iii) PET LLC and Cyclotron has delivered the mutually agreeable PET Sublease and Cyclotron Sublease to UCSD and the
Landlord has consented to the PET Sublease and Cyclotron, (iv) PET LLC has delivered to UCSD the MarCap Consent for the PET Equipment Debt and the Cyclotron Equipment Debt, and (vi) PET LLC and Cyclotron LLC has delivered to UCSD, or is prepared to
deliver, all documents required to be delivered by PET LLC and Cyclotron LLC, respectively, at the Closing or otherwise reasonably requested by UCSD to give effect to the transactions contemplated herein. 
  
 3.3 Termination. If any of the conditions set forth in Section 3.1 is
neither satisfied nor waived on or before August 15, 2003, then PET LLC or Cyclotron LLC may terminate this Agreement by delivering to written notice of termination to UCSD. If any of the conditions set forth in Section 3.2 is neither satisfied nor
waived on or before August 15, 2003, then UCSD may terminate this Agreement by delivering to written notice of termination to PET LLC and Cyclotron LLC. Any waiver of a condition shall be effective only if such waiver is stated in writing and signed
by the waiving party. 
  
 4. Warranties, Representations and
Covenants of PET LLC and Cyclotron LLC. 
  
 4.1 PET LLC
warrants, represents and covenants to UCSD as follows: 
  
 (a)
Corporate Status; Validity of Agreement. PET LLC is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Delaware. PET LLC has full right, power and authority to execute and deliver
this Agreement and perform the transactions contemplated by this Agreement. The execution and delivery of this Agreement and the performance of the transactions contemplated hereby have been duly and validly authorized by all necessary limited
liability or other action on the part of PET LLC, and this Agreement, when executed and delivered by PET LLC, shall constitute the valid and binding obligation of PET LLC enforceable in accordance with its terms. 
  
 (b) PET Acquired Assets. Upon the consummation of the VI PET Purchase
Agreement and the full execution of the MarCap equipment lease for the PET Equipment Debt, PET LLC will be the owner of, and will have good and marketable title to, all of the PET Acquired Assets to be sold under the terms of this Agreement. Upon
the consummation of the VI PET Purchase Agreement and receipt of the consent of MarCap to this Agreement, PET LLC will have the power and authority to sell, convey and assign the PET Acquired Assets to UCSD. At the Closing, PET LLC shall transfer
and convey to UCSD all of PET LLC’s right, title and interest in the PET Acquired Assets as acquired from Vital Imaging under the VI PET Purchase Agreement, subject to the security interest granted to MarCap, but otherwise free and clear of (a)
all mortgages, pledges, security interests, charges, liens or encumbrances of any kind whatsoever and (b) all other matters materially and adversely affecting the title thereto or otherwise interfering with or impairing the use thereof for the
intended purpose. 
  

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 (c) Governmental Consent. Except for permitting and licensing requirements necessary for the
operation of the PET System, no consent, approval or authorization of or designation, declaration or filing with, any governmental authority on the part of PET LLC is required in connection with the valid execution, delivery and performance of this
Agreement, or the consummation of any of the transactions contemplated hereby. 
  
 (d) No Conflict. The execution and delivery of this Agreement, and the performance of PET LLC’s obligations hereunder, (a) assuming the consent of Marcap to this Agreement, are not in violation or breach
of, and will not conflict with or constitute a default under any material note, debt instrument, security agreement, lease, deed of trust or mortgage, or any other material contract, agreement or commitment binding upon PET LLC, or any of its assets
or properties, (b) will not result in the creation or imposition of any lien, encumbrance, equity or restriction in favor of any third party upon any of the Acquired Assets, and (c) will not conflict with or violate any applicable law, rule,
regulation, judgment, order or decree of any government, governmental instrumentality or court having jurisdiction over PET LLC or any of its properties. 
  
 4.2 Cyclotron LLC warrants, represents and covenants to UCSD as follows 
  
 (a) Corporate Status; Validity of Agreement. Cyclotron LLC is a limited liability company duly organized, validly
existing and in good standing under the laws of the State of Delaware. Cyclotron LLC has full right, power and authority to execute and deliver this Agreement and perform the transactions contemplated by this Agreement. The execution and delivery of
this Agreement and the performance of the transactions contemplated hereby have been duly and validly authorized by all necessary limited liability or other action on the part of Cyclotron LLC, and this Agreement, when executed and delivered by
Cyclotron LLC, shall constitute the valid and binding obligation of Cyclotron LLC enforceable in accordance with its terms. 
  
 (b) Cyclotron Acquired Assets. Upon the full execution of the MarCap equipment lease for the Cyclotron Equipment Debt, Cyclotron LLC will be the
owner of, and will have good and marketable title to, all of the Cyclotron Acquired Assets to be sold under the terms of this Agreement. Upon receipt of the consent of MarCap to this Agreement, Cyclotron LLC will have the power and authority to
sell, convey and assign the Cyclotron Acquired Assets to UCSD. At the Closing, Cyclotron LLC shall transfer and convey to UCSD all of Cyclotron LLC’s right, title and interest in the Acquired Assets as acquired from Vital Imaging under the VI
Cyclotron Purchase Agreement, subject to the security interest granted to Marcap, but otherwise free and clear of (a) all mortgages, pledges, security interests, charges, liens or encumbrances of any kind whatsoever and (b) all other matters
materially and adversely affecting the title thereto or otherwise interfering with or impairing the use thereof for the intended purpose. 
  
 (c) Governmental Consent. Except for permitting and licensing requirements necessary for the operation of the Cyclotron System, no consent,
approval or authorization of or designation, declaration or filing with, any governmental authority on the part of 

  

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Cyclotron LLC is required in connection with the valid execution, delivery and performance of this Agreement, or the consummation of any of the transactions
contemplated hereby. 
  
 (d) No Conflict. The execution
and delivery of this Agreement, and the performance of Cyclotron LLC’s obligations hereunder, (a) assuming the consent of Marcap to this Agreement, are not in violation or breach of, and will not conflict with or constitute a default under any
material note, debt instrument, security agreement, lease, deed of trust or mortgage, or any other material contract, agreement or commitment binding upon Cyclotron LLC, or any of its assets or properties, (b) will not result in the creation or
imposition of any lien, encumbrance, equity or restriction in favor of any third party upon any of the Acquired Assets, and (c) will not conflict with or violate any applicable law, rule, regulation, judgment, order or decree of any government,
governmental instrumentality or court having jurisdiction over Cyclotron LLC or any of its properties. 
  
 5. Warranties, Representations and Covenants of UCSD. UCSD warrants, represents and covenants to PET LLC and Cyclotron LLC as follows: 

 
 5.1 Corporate Status; Validity of Agreement. UCSD is a California
corporation duly organized, validly existing and in good standing under the laws of the State of California. UCSD has full right, power and authority to execute and deliver this Agreement and perform the transactions contemplated by this Agreement.
The execution and delivery of this Agreement and the performance of the transactions contemplated hereby have been duly and validly authorized by all necessary corporate action on the part of UCSD, and this Agreement, when executed and delivered by
UCSD, shall constitute the valid and binding obligation of UCSD enforceable in accordance with its terms. 
  
 5.2 Acquired Assets. At the Closing, UCSD will have the power and authority to sublease the PET Acquired Assets to PET LLC and the Cyclotron
Acquired Assets to Cyclotron LLC. At the Closing, UCSD shall (i) sublease to PET LLC all of its interest in the PET Acquired Assets as acquired from PET LLC hereunder and (ii) sublease to Cyclotron LLC all of its interest in the Cyclotron Acquired
Assets as acquired from Cyclotron LLC hereunder, subject to the security interest granted to MarCap, but otherwise free and clear of (a) all mortgages, pledges, security interests, charges, liens or encumbrances of any kind whatsoever and (b) all
other matters materially and adversely affecting the title thereto or otherwise interfering with or impairing the use thereof for the intended purpose. 
  
 5.3 Governmental Consent. Except for permitting and licensing requirements necessary for the operation of the PET System, no consent, approval or
authorization of or designation, declaration or filing with, any governmental authority on the part of UCSD is required in connection with the valid execution, delivery and performance of this Agreement, or the consummation of any of the
transactions contemplated hereby. 
  

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 5.4 No Conflict. The execution and delivery of this Agreement, and the performance of UCSD’s
obligations hereunder, (a) are not in violation or breach of, and will not conflict with or constitute a default under any material note, debt instrument, security agreement, lease, deed of trust or mortgage, or any other material contract,
agreement or commitment binding upon UCSD, or any of its assets or properties, (b) will not result in the creation or imposition of any lien, encumbrance, equity or restriction in favor of any third party upon any of the Acquired Assets, and (c)
will not conflict with or violate any applicable law, rule, regulation, judgment, order or decree of any government, governmental instrumentality or court having jurisdiction over UCSD or any of its properties. 
  
 6. Indemnity By PET LLC and Cyclotron LLC. (a) PET LLC shall
indemnify, hold harmless and defend UCSD and its assigns from and against any loss, liability, damages or expense (including attorneys’ fees) suffered or incurred by UCSD and/or its assigns as a result of (i) a material breach of any
obligation, representation, warranty, covenant or agreement made by PET LLC in this Agreement, or because any material representation or warranty by PET LLC contained herein shall be false; provided, however, any such material breach caused by a
material breach of Vital Imaging under the VI PET Purchase Agreement shall not result in any PET LLC indemnity obligation hereunder; and (ii) cost and expenses (including reasonable attorneys’ fees) incurred by UCSD in connection with any
claim, action, suit, proceeding, demand, assessment or judgment incident to any of the foregoing. PET LLC shall reimburse UCSD within thirty (30) days of UCSD’s written request (which request shall include reasonable supporting documentation
for such reimbursement) for reimbursement of any and all amounts actually paid by UCSD on account of such obligations, losses, liabilities, damages or expenses. 
  

(b) Cyclotron LLC shall indemnify, hold harmless and defend UCSD and its assigns from and against any loss, liability, damages or expense (including
attorneys’ fees) suffered or incurred by UCSD and/or its assigns as a result of (i) a material breach of any obligation, representation, warranty, covenant or agreement made by Cyclotron LLC in this Agreement, or because any material
representation or warranty by Cyclotron LLC contained herein shall be false; provided, however, any such material breach caused by a material breach of Vital Imaging under the VI Cyclotron Purchase Agreement shall not result in any Cyclotron LLC
indemnity obligation hereunder; and (ii) cost and expenses (including reasonable attorneys’ fees) incurred by UCSD in connection with any claim, action, suit, proceeding, demand, assessment or judgment incident to any of the foregoing.
Cyclotron LLC shall reimburse UCSD within thirty (30) days of UCSD’s written request (which request shall include reasonable supporting documentation for such reimbursement) for reimbursement of any and all amounts actually paid by UCSD on
account of such obligations, losses, liabilities, damages or expenses. 
  
 7. Indemnity By UCSD. UCSD shall indemnify, hold harmless and defend PET LLC and Cyclotron LLC and its assigns from and against any loss, liability, damages or expense (including attorneys’ fees) suffered or incurred by PET LLC
or Cyclotron LLC and its assigns as a result of (i) a material breach of any obligation, representation, warranty, covenant or agreement 

  

 11 

 
made by UCSD in this Agreement, or because any material representation or warranty by UCSD contained herein shall be false provided, however, any such
material breach caused by a material breach of Vital Imaging under the VI PET Purchase Agreement or VI Cyclotron Purchase Agreement, respectively, shall not result in any UCSD indemnity obligation hereunder; and (ii) cost and expenses (including
reasonable attorneys’ fees) incurred by PET LLC or Cyclotron LLC in connection with any action, suit, proceeding, demand, assessment or judgment incident to any of the foregoing. UCSD shall reimburse PET LLC and/or Cyclotron LLC within thirty
(30) days of PET LLC’s or Cyclotron LLC’s written request (which request shall include reasonable supporting documentation for such reimbursement) for reimbursement of any and all amounts actually paid by PET LLC or Cyclotron LLC on
account of such obligations, losses, liabilities, damages or expenses. 
  
 8. Entire Agreement; Severability; Modification. This instrument contains the entire agreement between the parties relating to the transaction described herein. Any oral representations or modifications concerning this instrument
shall be of no force and effect, excepting a subsequent modification in writing, signed by the party to be charged. Should any term, provision or paragraph of this Agreement be determined to be illegal or void or of no force and effect, the balance
of the Agreement shall survive. This Agreement may be modified, amended or supplemented only by a written instrument duly executed by all the parties hereto. 
  
 9. Further Assurances; Waiver. Each party hereto will execute, acknowledge and deliver any further assurances, documents and instruments reasonably
requested by any other party hereto for the purpose of giving effect to the transactions contemplated herein or the intentions of the parties with respect thereto. No waiver of any of the provisions of this Agreement shall be deemed, or shall
constitute, a waiver of other provisions, whether or not similar, nor shall any waiver constitute a continuing waiver. No waiver shall be binding unless executed in writing by the party making the waiver. 
  
 10. Investigations and Survival. The respective representations,
warranties, covenants and agreements of PET LLC and UCSD herein, or in any certificates or other documents delivered prior to or at the Closing, shall not be deemed waived or otherwise affected by any investigation made by any party hereto nor shall
they be affected by the Closing. 
  
 11. Binding Effect.
This Agreement shall bind and inure to the benefit of the respective heirs, personal representatives, successors, and assigns of the parties hereto, except as hereinabove expressly provided. 
  
 12. Applicable Law. This Agreement shall be governed by and construed
in accordance with the laws of California. Any legal proceeding relating to the Agreement shall be instituted and maintained exclusively in any court of competent jurisdiction in San Diego County, California. 
  
 13. Construction. In the interpretation and construction of this
Agreement, the parties acknowledge that the terms hereof reflect extensive negotiations between the parties and that 

  

 12 

 
this Agreement shall not be deemed, for the purpose of construction and interpretation, that either party drafted this Agreement. 
  
 14. Counterparts; Facsimile Signatures. This Agreement may be signed
in counterparts and delivered by facsimile signature. 
  
 [The
remainder of this page was intentionally left blank.] 
  

 13 

 IN WITNESS WHEREOF, the parties hereto have executed this Asset Purchase Agreement the day and year first
above written. 
  

	 UCSD:
	  	 	  	PET LLC:
			
	The Regents of the University of California	  	 	  	Molecular Imaging Sorrento Valley LLC, a Delaware limited liability company
					
	By:	 	 /s/    EDWARD W. HOLMES

	  	 	  	By:	  	Molecular Imaging Corporation, a Delaware corporation, its Manager
						
	 	 	 	  	 	  	 	  	By:	  	 /s/    PAUL J. CROWE

	 	 	 	  	 	  	 	  	 	  	Paul J. Crowe, CEO
				
	 	 	 	  	 	  	CYCLOTRON LLC:
				
	 	 	 	  	 	  	Molecular Imaging Cyclotron LLC, a Delaware limited liability company
					
	 	 	 	  	 	  	By:	  	Molecular Imaging Corporation, a Delaware corporation, its Manager
						
	 	 	 	  	 	  	 	  	By:	  	 /s/    PAUL J. CROWE

	 	 	 	  	 	  	 	  	 	  	Paul J. Crowe, CEO

  
 For purposes of Section 1.12 only:

  
 Molecular Imaging Corporation 
  

	 By:
	 	 /s/    PAUL J. CROWE

	 	 	Paul J. Crowe, CEO

  

 14Employment Agreement Dated July 28th

 Exhibit 10.57 
  
  
 

 
 MOLECULAR IMAGING CORPORATION 
  

	 	

  
 2150 W. Washington Street, Suite 110, San Diego, California USA Tel: (001) 619-226-6738 Fax: (001) 619-226-6889 
  
 MOLECULAR IMAGING CORPORATION 
 EMPLOYMENT AGREEMENT 
  
 SECTION ONE 
 PARTIES 
  
 1.1. This Employment Agreement (this “Agreement”) is made and entered into, and is effective, as of July 28, 2003 (the “Effective Date”), between Molecular Imaging Corporation, a Delaware
corporation (the “Company”), and Steve Vandecar, an individual (the “Executive”). 
  
 SECTION TWO 
 RECITALS 
  
 2.1. This Agreement is made with reference to the following facts and circumstances: 
  
 (a) The Company desires to employ the Executive on the terms
and subject to the conditions set forth below. 
  
 (b) The Executive desires to be
employed by the Company on the terms and subject to the conditions set forth below. 
  
 2.2. In consideration of these recitals and the mutual promises set forth below, the Company hereby employs the Executive, and the Executive hereby accepts this employment, on the terms and subject to the conditions set forth in this
Agreement. 
  
 SECTION THREE 
 THE EXECUTIVE’S DUTIES 
  
 3.1. Position. The Company shall employ the Executive as the Company’s Senior Vice President of Operations. 
  
 3.2. Duties. The Executive shall have the responsibilities and perform the duties normally
attendant to such position, subject to the direction of the Company’s Chief Executive Officer (the “CEO”), who shall be the Executive’s immediate supervisor, and of the Company’s Board of Directors (the “Board”).
The Executive shall also have such additional responsibilities and duties for the Company and its subsidiaries, consistent with his position and expertise, as may be assigned to the Executive from time to time by the CEO or the Board. 
  
 3.3. Full Time Employment. The Executive shall devote his full energies, interest, abilities
and productive time to the performance of his duties under this Agreement and shall not, without the Company’s prior written consent, render to others services of any kind for compensation or engage in any other business activity that would, in
either case, interfere with the performance of his duties under this Agreement. 
  
 3.4. No Competition During Employment. During the term of his employment by the Company, the Executive shall not, directly or indirectly, whether as a partner, employee, shareholder, investor or otherwise, promote, participate or engage in
any activity or other business that directly or indirectly competes with the business of the Employer or its subsidiaries. In addition, the Executive, while employed by the Company, shall not take any action without the Employer’s prior written
consent to establish, form or become employed by any competing business on termination of his employment by the Company. 
  
 3.5. Place of Employment. Unless otherwise agreed to in writing by the Company, the Executive shall perform the services he is required to perform under this Agreement at
the Company’s executive offices as established from time to time by the Board; provided, however, that the Executive may be required from time to time to travel in connection with the performance of his duties for the Company and its
subsidiaries. 

 SECTION FOUR 
 TERM OF EMPLOYMENT 
  
 4.1. Term. The Company
agrees to continue the Executive’s employment and Executive agrees to remain in Company’s employment from the Effective Date until the date when Executive’s employment terminates pursuant to Section Eight below (the “Employment
Period”). The Executive’s performance will be reviewed after the first sixty (60) days of employment (the “Probationary Period”). The Executive’s employment with the Company shall be “at will,” which means that
either the Executive or the Company may terminate Executive’s employment at any time, for any reason, with “Cause” or “Without Cause.” Any contrary representations, which may have been made to the Executive shall be
superseded by this Agreement. This Agreement shall constitute the full and complete agreement between the Executive and the Company regarding the “at will” nature of Executive’s employment, which may only be changed in an express
written agreement signed by the Executive and the Chairman of the Board. 
  
 SECTION FIVE 
 COMPENSATION 
  
 5.1. Base Salary. The Company shall pay the Executive a base salary (“Salary”) at the rate of $5,000 bi-weekly ($130,000 per annum). The Company shall pay such
Salary in arrears in accordance with Company’s standard payroll practices in effect from time to time. The Executive’s Salary shall be reviewed and considered for possible increase by the Board based upon its determination and evaluation
of his performance and such other factors, if any, as it may deem appropriate, not less frequently than annually. 
  
 5.2. Discretionary Bonus. The Company shall provide the Executive the opportunity to earn a bonus equivalent to 30% of his annual salary if the targeted corporate budget
is achieved. 
  
 5.3. Options. Concurrently and as of even date herewith, the
Company shall grant to the Executive options or warrants (“Options”) covering 200,000 shares (the “Option Shares”) of the Company’s common stock, $.0001 par value (the “Common Stock”). The Options shall vest in
equal monthly installments over a one-year period commencing on the Effective Date (e.g., first monthly vesting will occur on August 30, 2003), subject to the Executive continuing to be employed hereunder at the time specified for vesting, shall be
exercisable to the extent then vested and shall be exercisable at an exercise price (“Exercise Price”) per Option Share equal to the closing price per share of Common Stock on the OTCBB exchange on the date which Executive commences his
employment, and shall expire to the extent not theretofore exercised upon the earliest to occur of (a) the fourth anniversary of the Effective Date; (b) 90 days following the date of termination of the Executive’s employment for any reason
other than those set forth below in this Section 5.3(c) hereof; or (c) immediately in the event of any termination by the Company of the Executive’s employment pursuant to Section 8.1 or Section 8.3 hereof. The number of Option Shares and the
Exercise Price thereof shall be subject to equitable and proportionate adjustment as determined by the Board from time to time to reflect stock splits, reverse stock splits, stock dividends, recapitalizations, reclassifications and similar events of
dilution. The Options will not be exercisable by the Executive unless or except to the extent that (a) the underlying Option Shares are registered under the Securities Act of 1933, as amended, and registered or qualified under applicable state
securities laws (collectively, the “Securities Laws”), or (b) in the reasonable opinion of counsel to the Company, exemptions from the registration and qualification provisions of such Securities Laws are applicable to the transaction. The
Options will also contain such investment representations by the Executive as may reasonably be requested by the Company’s counsel to insure compliance with applicable Securities Laws. The Options shall be issued pursuant to a stock option plan
or stock option agreement approved by the Board of Directors of the Company and will be contained in a separate document in customary form dated as of the Effective Date and executed by the Company and the Executive on the date hereof or promptly
thereafter; and, pending such execution, this Section 5.3 shall be deemed to constitute the grant of and contain the terms of the Options. The grant and exercise of such Options shall be subject to the Company’s completion of any and all
required or necessary state or federal securities filings and/or disclosure documents. 

 SECTION SIX 
 EXECUTIVE BENEFITS 
  
 6.1. General. The Company
shall provide the Executive with the same executive benefits (such as health insurance, sick leave, disability insurance), if any and if needed, that it provides to its other executives generally, as and when he becomes eligible for them. In
addition, the Executive shall be entitled to three weeks of vacation per year. One week of vacation may be scheduled after the first six months of employment. 
  

6.2. Expense Reimbursement. The Company shall reimburse the Executive for his reasonable and necessary out-of-pocket expenses incurred in the performance of his duties
under this Agreement, upon his timely submission of written requests therefore together with such receipts and documentation as the Company may reasonably request, all in accordance with the Company’s policies and procedures in effect from time
to time. 
  
 SECTION SEVEN 
 OWNERSHIP OF INTANGIBLES 
  
 7.1. All processes, inventions, patents, copyrights, trademarks, and other intangible rights that may be conceived or developed by the Executive, either alone or with
others, during his employment by the Company, whether or not conceived or developed during his working hours, and with respect to which the Company’s equipment, supplies, facilities or trade secret information were used, or that relate at the
time of conception or reduction to practice of the invention to the Company’s business or to its actual or demonstrably anticipated research and development, or that result from any work performed by the Executive for the Company (or its
subsidiaries), shall be the sole property of the Company. The Executive shall disclose to the Company all inventions conceived by the Executive while employed by the Company and for one year thereafter, whether or not the property of the Company
under the preceding sentence, provided that such disclosure shall be received by the Company in confidence. The Executive shall execute all documents, including patent applications and assignments, required by the Company to establish its rights
under this Section 7.1. 
  
 SECTION EIGHT 
 TERMINATION 
  
 8.1. Termination by the Company, for Cause. The Company may terminate the Executive’s employment and this Agreement at any time without notice if at any time from and after the Effective Date the Executive is
convicted of a felony, or of a misdemeanor involving fraud or other moral turpitude; is guilty of gross or habitual inattention to or carelessness or willful misconduct in the performance of his duties; is guilty of inattention to or carelessness in
the performance of his duties that is not cured within ten days after written notice thereof by the Company; is guilty of any material breach of this Agreement that is not cured within ten days after written notice thereof; fails to abide in any
material respects with the Company policies and procedures from time to time in effect; or fails to comply with any lawful orders or directions of the CEO or the Board that are not incompatible with his position with the Company or manifestly
unreasonable or unethical. 
  
 8.2. Termination by the Company Without Cause. The
Company may terminate the Executive’s employment and this Agreement at any time for any reason whatsoever or no reason, by giving the Executive written notice of its election to do so. If the Company terminates the Executive’s employment
and this Agreement other than for the reasons set forth in Section 8.1, then, subject to the Executive first executing a release that, in form and substance, is reasonably satisfactory to the Company and releases and discharges the Company and its
subsidiaries and their respective officers, directors, employees and representatives from all liabilities of any type they might otherwise be deemed to have to the Executive, the Company shall thereupon be obligated to pay the Executive a payment
equal to one (1) month’s Salary at the time of termination, which payment may, in the discretion of the Company, be paid as a lump sum or in two (2) equal payments in accordance with regularly scheduled paydays of the Company . 
  
 8.3. Termination by Resignation. The Executive may terminate this Agreement by giving the
Company not less than 30 days’ prior written notice of resignation. The Executive shall not be entitled to any Salary or other compensation accruing after the effective date of his resignation under Section 8.2 if he terminates this Agreement.

 8.4. Termination on Disability. If, at the end of any consecutive 90-day period during the Term, the Executive is and has
been for the consecutive 90-day period then ending, or for 80% or more of the normal working days during such consecutive 90-day period unable due to mental or physical illness or injury to perform his duties under this Agreement in his normal and
regular manner, the Executive’s employment and this Agreement shall then terminate, subject to the Executive’s right to receive any disability benefits then provided by the Company. 
  
 8.5. Termination By Death. The Executive’s employment and this Agreement shall terminate
upon the Executive’s death, subject to Executive’s estate being entitled to receive any death benefits then provided by the Company. 
  
 8.6. Rights and Obligations After Notice of Termination. If either the Company or the Executive gives notice of termination of this Agreement, or if it becomes known that
this Agreement will otherwise terminate in accordance with its provisions, the Company may, in its sole discretion and subject to its other obligations under this Agreement, relieve the Executive of his duties under this Agreement. 
  
 SECTION NINE 
 CONFIDENTIAL INFORMATION 
  
 9.1. Confidential Information. During the period of time that the Company has been in business, it has acquired, created and developed, and will continue to acquire, create and develop certain confidential and proprietary information, which
the Executive has been and will continue to be exposed to, and he has had and will continue to have an opportunity to learn about the Company’s (and its subsidiaries’), customers and employees (including records and information pertaining
to such customers and employees, and to the relationship between these customers and employees and the Company and its subsidiaries), operations, methods of doing business, research and development, know-how, formulas, processes, trade secrets,
computer programs, algorithms, finances (including all non-public financial statements and information), and other confidential and proprietary information belonging to the Company and its subsidiaries (collectively, “Confidential
Information”). The term, “Confidential Information,” includes all documents, materials, and information concerning the Company that heretofore have been or hereafter are furnished, made available, or otherwise disclosed to or created
by the Executive, except information that was or becomes generally available to the public other than as a result of a disclosure by or through the Executive. All such information is considered secret and has been and shall at all times be deemed to
be disclosed to the Executive in strict confidence. Executive shall keep such Confidential Information confidential pursuant to the terms hereof and the Employee Non-Disclosure Agreement executed by Executive. 
  
 9.2. Disclosure of Confidential Information. Except as required in the performance of his
duties hereunder, the Executive shall not directly or indirectly disclose to any third person any of the Company’s or its subsidiaries’ Confidential Information or use any such Confidential Information for any purpose without the
Company’s prior written consent. This covenant shall survive the termination of this Agreement. 
  
 9.3. Unfair Competition. The Executive understands, acknowledges and agrees that the Company is engaged in the business of providing and operating Positron Emission Tomography, and hopes to expand those services to
new geographical areas throughout the world. For so long as the Executive is an employee of the Company, he agrees that he will not directly or indirectly compete with the business of the Company or its subsidiaries anywhere in the world. As used in
the preceding sentence, “compete” means, but is not necessarily limited to, the Executive engaging in or carrying on, either for himself or as an officer, director, executive, shareholder, partner, member, agent, associate, consultant or
affiliate of, or investor in any other person or entity that is engaged in any activity described in the first sentence of this Section 9.3 or that is competitive with any such activity. The Executive also agrees that for so long as the Executive is
an employee of the Company, he will not directly or indirectly recruit, hire, assist others in recruiting or hiring, or refer to others concerning employment, any other person who is an employee of the Company or any affiliate of the Company.

 9.4. Equitable Enforcement. The Executive represents and agrees that he finds the restrictions contained in Sections 3.4,
9.2 and 9.3 hereof to be fair and reasonable. He also understands, acknowledges and agrees that if he were to breach any of his obligations contained in Sections 3.4, 9.2 or 9.3 hereof, the Company would suffer immediate and irreparable harm, and
that an award of money damages would not be adequate to fully compensate the Company for such harm. Accordingly, if the Executive breaches or threatens to breach any of his obligations contained in Sections 3.4, 9.2 or 9.3 hereof, the Company shall
be entitled to a temporary restraining order and a preliminary or temporary injunction, from any court having jurisdiction, until the issue of such breach or threatened breach is finally determined by arbitration pursuant to Section 10 hereof. If
such court determines that it is reasonably likely that an arbitrator or arbitrators will find that any of those obligations are not enforceable, in whole or in part, due to any unreasonable restriction of duration, geographical area or activity, or
any combination thereof, such court shall nevertheless enjoin the breach thereof as to such duration, geographical area and activity that the court determines is fair and reasonable, pending arbitration proceedings to settle any controversy or claim
relating to the enforceability of the Executive’s obligations under Sections 3.4, 9.2 or 9.3 hereof. The court shall not require the Company to post any bond or other surety as a condition to granting and maintaining any temporary restraining
order or preliminary injunction pursuant to this Section 9.4. 
  
 SECTION TEN 
 DISPUTE RESOLUTION 
  
 10.1. Binding Arbitration. Except to the extent otherwise expressly provided for herein, any controversy or claim arising out of or relating to this Agreement, or a
breach of this Agreement, shall be settled exclusively by binding arbitration, in San Diego, California, in accordance with the Commercial Arbitration Rules of the American Arbitration Association, before a panel of three arbitrators, one appointed
by each of the Company and the Executive, and the third chosen by the two so appointed. The decision of the arbitrators shall be final, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction. The
prevailing party shall be awarded reasonable attorneys and arbitration costs. 
  
 10.2. Interim Relief from a Court. In addition to the interim equitable enforcement provisions of Section 9.4, any party may request a court to provide interim or provisional relief, and such request shall not be deemed incompatible with
this agreement to arbitrate or as a waiver of that agreement. 
  
 10.3. Equitable
Enforcement. The parties acknowledge and agree that in the event of a breach or threatened breach of this Agreement, or a party’s failure to perform any provision hereof to be performed by that party, damages would be extremely difficult if not
impossible to determine, and that the other parties to this Agreement would not have any adequate remedy at law. The parties agree that an arbitrator may grant injunctive relief and specific performance in his or her award, and that any court having
jurisdiction may enforce such equitable relief. 
  
 10.4. Reformation. In any
arbitration proceedings relating to the Executive’s obligations under Sections 3.4, 9.2 or 9.3 above, if the arbitrators should find any of the restrictions contained in those sections or any of the Executive’s obligations thereunder to be
unenforceable, in whole or in part, due to any unreasonable restriction of duration, geographical area or activity, or any combination thereof, then the arbitrators shall have the Executive’s and the Company’s express authority to reform
those restrictions and obligations to reasonable restrictions and obligations, and to grant the Company any other legal or equitable relief reasonably necessary to protect the Company’s interest in its Confidential Information, and to prevent
the Executive from unfairly competing with the Company. 
  
 SECTION
ELEVEN 
 MISCELLANEOUS PROVISIONS 
  
 11.1. Entire Agreement. This Agreement contains the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior oral and
written agreements, understandings, commitments and practices between them with respect to such subject matter. No amendments to this Agreement may be made except by a writing signed by both parties. 
  
 11.2. Law Governing. This Agreement shall be construed and enforced in accordance with the
laws of California. 

 11.3. Notices. All notices, consents and other communications under this Agreement shall be in writing (including
facsimile transmissions) and shall be deemed given on the earliest of (a) the day of actual receipt; (b) the day sent by facsimile transmittal with electronic confirmation of receipt, if sent on a business day before 5:00 p.m., the recipient’s
time, otherwise the next business day after the day sent; (c) the next business day after delivery to a national delivery service for overnight delivery, with delivery receipt requested; and (d) the fifth business day after deposit in the United
States mail, certified or registered with postage prepaid, return receipt requested, in any such case addressed to the parties as set forth below or at such other address as a party may specify by notice given pursuant to this Section 11.3:

  

	 IF TO THE COMPANY:
	 	IF TO THE EXECUTIVE:
		
	 At its principal executive offices
	 	At his most recent address reflected in the Company’s records

  
 11.4. Severability. If any provision
of this Agreement is held invalid or unenforceable, the remainder of this Agreement shall nevertheless remain in full force and effect. If any provision is held invalid or unenforceable with respect to particular circumstances, it shall nevertheless
remain in full force and effect in all other circumstances. 
  
 11.5. Binding
Effect. This Agreement shall bind and accrue to the benefit of the parties and their respective successors in interest. 
  
 11.6. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original and all of which, taken together shall be
deemed to constitute one and the same instrument. 
  
 IN WITNESS WHEREOF the
parties have executed this Agreement as of the date set forth in Section 1.1 above. 
  

	 THE COMPANY:
	 	 	 	 THE EXECUTIVE:

			
	 Molecular Imaging Corporation
	 	 	 	 STEVE VANDECAR

	 by direction of its Board of Directors
	 	 	 	 
					
	By:	 	 /s/    PAUL
CROWE        

	 	 	 	By:	 	 /s/    STEVE
VANDECAR        

	 	 	Paul J. Crowe, President and CEO	 	 	 	 	 	Steve Vandecar
			
	 Date Signed: September 29, 2003
	 	 	 	Date Signed: September 29, 2003

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