Document:

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                                                                    Exhibit 10.4

                  TAX ALLOCATION AND INDEMNIFICATION AGREEMENT

         TAX ALLOCATION AND INDEMNIFICATION AGREEMENT (this "Agreement") dated
as of ______________ __, 2004, among E-Z-EM, INC. ("E-Z-EM"), a Delaware
corporation, and ANGIODYNAMICS, INC. ("AngioDynamics"), a Delaware corporation,
and the direct and indirect subsidiaries of E-Z-EM other than AngioDynamics (the
"Remaining Subsidiaries").

         WHEREAS, the parties to this Agreement are currently members
("Members") of an affiliated group (the "Group") within the meaning of Section
1504(a) of the Internal Revenue Code of 1986 (the "Code"), of which E-Z-EM is
the common parent;

         WHEREAS, E-Z-EM, as the common parent of the Group, has filed and will
file consolidated federal income tax returns ("Group Tax Returns") and other tax
returns on behalf of the Group for certain periods relevant hereto;

         WHEREAS, as a result of the proposed distribution by E-Z-EM of its
entire stockholdings in AngioDynamics to the E-Z-EM shareholders in a
transaction intended to qualify as a tax-free spin-off under section 355 of the
Internal Revenue Code (the "Distribution"), AngioDynamics and its subsidiaries
will cease to be Members of the Group as of the end of the closing date of the
proposed Distribution (the "Distribution Date");

         WHEREAS, Members of the Group may be subject to state income and
franchise tax liabilities on a combined or consolidated basis for periods both
before and after the aforementioned transactions; and

         WHEREAS, E-Z-EM and its Remaining Subsidiaries (the "E-Z-EM Subgroup"
as constituted following the Distribution) and AngioDynamics and its
subsidiaries (the "AngioDynamics Subgroup" as constituted following the
Distribution) desire to set forth their rights and obligations with respect to
certain tax liabilities.

         NOW THEREFORE, in consideration of the mutual promises and covenants
contained herein, the parties agree as follows:

         1.   Applicable Period; Tax Period. For purposes of this Agreement, the
term "Applicable Period" shall refer to the period June 1, 2003 through the date
on which AngioDynamics ceases to be a Member of the Group. The term "Tax Period"
shall refer to all taxable periods beginning or ending in the Applicable Period.

         2.   Return Filing Responsibilities.

              a.   E-Z-EM shall be responsible for preparing and filing the
Group Tax Returns for the 2003 and 2004 taxable years (taxable years ended May
29, 2004 and May

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                                     - 2 -

28, 2005, respectively) in a manner which fairly reflects the interests of
AngioDynamics. AngioDynamics will be responsible for providing to E-Z-EM, by no
later than 75 days prior to the extended due date for filing each Tax Return,
the information relating to the AngioDynamics Subgroup which is needed for the
preparation of such return. Such information shall include the general ledger
and audit file for AngioDynamics. The information so provided will be included
in the Group Tax Return without modification, provided that positions taken by
the AngioDynamics Subgroup have a realistic possibility of being sustained on
their merits. AngioDynamics will determine the items of income, gain, loss,
deduction and credit of the AngioDynamics Subgroup to be included on the Group
Tax Return for taxable year in which Angio Dynamics ceases to be a member of the
Group by using the "ratable allocation " method described in Treas. Reg. ss.
1.1502-76(b)(2)(ii). AngioDynamics shall provide such assistance and documents,
without charge, as may reasonably be requested by E-Z-EM in the preparation of
the 2003 and 2004 Group Tax Returns. E-Z-EM shall commission an earnings and
profits allocation study by an outside consultant, in accordance with Treas.
Reg. ss. 1.312-10, and AngioDynamics shall provide whatever information is
necessary to complete the study and shall bear 50 percent of the cost of the
study. E-Z-EM shall provide to AngioDynamics a copy of each Group Tax Return as
filed for each Tax Period. In the event of a dispute between the parties
regarding the treatment of a particular item relating to the AngioDynamics
Subgroup on the 2003 or 2004 Group Tax Return, the issue will be submitted to
the law firm of Caplin & Drysdale, whose decision shall be binding on both
parties.

              b.   All Group Tax Returns filed after the date of this Agreement,
in the absence of a controlling change in law or circumstances, shall be
prepared on a basis consistent with the elections, accounting methods,
conventions and principles of taxation used for the most recent taxable periods
for which Group Tax Returns have been filed, and in a manner that does not
unreasonably accelerate deductions or defer income to the advantage of one
Subgroup and corresponding disadvantage of the other Subgroup.

         3.   Group Tax Liability; Group AMT Liability. For purposes of this
Agreement, the term "Group Tax Liability" shall mean the consolidated Federal
income tax liability, if any, reported on the Group Tax Return (as adjusted
under Section 8 of this Agreement). For purposes of this Agreement, the term
"Group AMT Liability" shall mean the alternative minimum tax liability under
Section 55 of the Code, if any, reported on the Group Tax Return (as adjusted
under Section 8 of this Agreement).

         4.   Allocation of Group Tax Liability to Members. The Group Tax
Liability for each Tax Period shall be allocated among the Members as provided
in this Section 4.

              a.   The separate Federal income tax liability of each Member with
Federal income tax liability for each Tax Period shall first be ascertained
under the applicable provisions of the Code and the Consolidated Return
Regulations. Any gain or loss that is treated as recognized by one or more
members of an affiliated group under the Internal Revenue Code and regulations
shall be treated as attributable to that member for purposes of

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                                     - 3 -

this Agreement. In computing the Federal income tax liability of each Member
having taxable income on a separate return basis (a "Profit Member") (i) the
surtax exemption to which the Group as a whole is entitled shall be apportioned
among the Profit Members in proportion to their respective separate taxable
incomes, and (ii) the consolidated research and development credit ("R&D
Credit") to which the Group as a whole is entitled shall be apportioned among
the Profit and Loss Members in proportion to their respective qualified research
and development expenditures for the taxable year.

              b.   The separate Federal income tax liabilities of all of the
Profit Members computed under Section 4(a) for each Tax Period shall then be
aggregated into a single sum.

              c.   Each Profit Member shall then be allocated a portion of the
Group Tax Liability, if any, for each Tax Period equal to the product of (i) the
Group Tax Liability for such Tax Period and (ii) a fraction, the numerator of
which is the separate Federal income tax liability of such Profit Member for
such Tax Period determined under Section 4(a) and the denominator of which is
the aggregate sum for such Tax Period determined under Section 4(b).

              d.   The portion of the Group Tax Liability allocated in the
manner described in this Section 4 to the AngioDynamics Subgroup shall be a
joint and several liability of each member of the AngioDynamics Subgroup to
E-Z-EM.

         5.   Allocation of Group AMT Liability to Members. The Group AMT
Liability, if any, for each Tax Period shall be allocated among the Members as
provided in this Section 5:

              a.   The separate alternative minimum tax liability of each Member
with positive separate alternative minimum taxable income (an "AMT Member")
shall be computed under Section 55(a) of the Code, after first apportioning the
exemption amount under Section 55(d)(2) of the Code (as adjusted under Section
55(d)(3)(A) of the Code) among the AMT Members in proportion to their respective
separate alternative minimum taxable incomes.

              b.   The separate AMT tax liability of each AMT Member determined
under Section 5(a) shall be aggregated into a single sum.

              c.   Each AMT Member shall then be allocated a portion of the
Group AMT Liability for each Tax Period equal to the product of (i) such Group
AMT Liability and (ii) a fraction, the numerator of which is the separate AMT
tax liability of such AMT Member determined under Section 5(a) and the
denominator of which is the aggregate sum determined under Section 5(b).

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              d.   The portion of the Group AMT Liability allocated in the
manner described in this Section 5 to the AngioDynamics Subgroup shall be a
joint and several liability of each member of the AngioDynamics Subgroup to
E-Z-EM.

         6.   Payment of Allocable Tax Liability. Section 4 and Section 5 are
intended to allocate liability for the payment of the Group Tax Liability and
any Group AMT Liability for each Tax Period to the AngioDynamics Subgroup in
proportion to their respective contributions to such liabilities. The amounts
allocated in this manner shall be a joint and several liability of the members
of the AngioDynamics Subgroup enforceable by E-Z-EM and the remaining Members of
its Group under the terms of this Agreement, and requiring the AngioDynamics
Subgroup promptly to transmit payment in the amount of the allocation to E-Z-EM
in a timely manner so that such payment may be included with the filing of the
Group Tax Return for such Tax Period. The members of the AngioDynamics Subgroup
shall be jointly and severally liable for any interest or penalties resulting
from their failure to tender such payments timely. Notwithstanding the
foregoing, the AngioDynamics Subgroup shall pay their allocable share of
estimated Federal income taxes (including estimated alternative minimum taxes)
to E-Z-EM in a timely manner, and provide to E-Z-EM the information relating to
the AngioDynamics Subgroup that is needed for the determination of the Group's
estimated Federal income tax payments, so that E-Z-EM may timely make such
payments during each Tax Period. The amount of any payment for taxes owed by any
Profit Member or AMT Member to E-Z-EM shall be net of any estimated income or
alternative minimum taxes, as the case may be, paid by such Member with respect
to the particular Tax Period. E-Z-EM shall promptly provide AngioDynamics with
evidence of the timely payment of each Group Tax Liability, Group AMT Liability
and estimated tax liability.

         7.   Payments to Loss Members.

              a.   In addition to the allocations set forth above with respect
to the Group Tax Return for each Tax Period, each Profit Member for such Tax
Period shall also be allocated an amount equal to the difference between (i) the
federal income tax liability that would have been due on the Profit Member's
separate taxable income under Section 4(a) or 5(a), as the case may be, if such
party had filed a separate tax return for such Tax Period and (ii) the tax
amount allocated to it under Section 4(c) or 5(c), as the case may be, (the
"Additional Allocation").

              b.   A portion of the Additional Allocation determined under
Section 7(a) with respect to each Profit Member shall be a liability of that
Profit Member to each Member generating a net operating loss ("NOL") in the
particular Tax Period (the "Loss Member") in an amount equal to the product of
(i) the Additional Allocation and (ii) a fraction the numerator of which is such
Loss Member's NOL (including NOLs carried forward from prior periods) actually
used in computing the Group Tax Liability plus the taxable income equivalent of
the consolidated R&D credit allocated to such Loss Member under Section 4(a)(ii)
and the denominator of which is the total NOLs and consolidated R&D credits of
all the Loss Members actually used in computing the Group Tax Liability.

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              c.   The amounts allocated to the AngioDynamics Subgroup under
Sections 7(a) and 7(b) shall be netted against each other and, (i) to the extent
that it results in a net payment liability, shall be paid by AngioDynamics to
E-Z-EM, and (ii) to the extent that it results in a net amount receivable, shall
be paid by E-Z-EM to AngioDynamics The appropriate liability or receivable, as
the case may be, shall be paid within 45 days after the filing of the Group Tax
Return for the particular Tax Period and shall be a joint and several liability
of each Profit Member of the E-Z-EM Subgroup or of the AngioDynamics Subgroup,
as the case may be.

         8.   Audits and Other Adjustments.

              a.   Any increase in, or reduction of, the Group Tax Liability as
a result of any (i) filing of an amended return or claim for refund, (ii) final
determination or settlement with the Internal Revenue Service (the "IRS"), or
(iii) court decision, relating to a Group Tax Return for any taxable period
ending prior to the Applicable Period or for any Tax Period shall be allocated
among the E-Z-EM Subgroup and the AngioDynamics Subgroup under the apportionment
methods described in Sections 4, 5 and 7, plus any allocable interest and
penalties.

              b.   If an amended return or claim for refund is filed by the E-Z-
EM Subgroup or the AngioDynamics Subgroup as a result of a net operating loss
carryback or capital loss carryback from a taxable period commencing after
AngioDynamics ceases to me a member of the Group to any Tax Period or any
taxable period prior to the Applicable Period, and such amended return or claim
for refund results in a reduction in the Group Tax Liability, then the Subgroup
which filed the amended return or claim for refund shall be entitled to the
entire refund (including any interest thereon) resulting from such reduction.
If, however, as a result of any subsequent determination, settlement or court
decision, there is an increase in such Group Tax Liability, then the increase
shall be allocated first to the party which obtained the refund up to the amount
of the refund of tax, and then to both Subgroups in accordance with Section 8a.

         9.   Conduct of Disputes. If E-Z-EM as common parent of the Group
receives notice of any audit or other examination by the IRS of any Group Tax
Return involving any taxable period ending prior to the Applicable Period or any
Tax Period, E-Z-EM shall promptly notify AngioDynamics of such audit or
examination. E-Z-EM shall, at its option upon timely notice to AngioDynamics,
control the conduct of any audit and the defense of any suit, action or
proceeding resulting therefrom. E-Z-EM shall consult with AngioDynamics with
respect to the conduct of any audit and the defense of any suit, action or
proceeding resulting therefrom relating to the tax liability of the
AngioDynamics Subgroup as determined under Sections 4, 5 and 7. Each party will
cooperate with the other in these proceedings and provide such assistance and
documents, without charge, as may reasonably be requested by the other party for
such purpose.

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                                     - 6 -

         10.  Certain Post-Applicable Period Returns. For any taxable year in
which the federal income tax liability of the AngioDynamics Subgroup is not
reported on the same tax return as that of E-Z-EM the person or persons
preparing the returns and representing the taxpayers in any examination or
appeal shall do so in a manner which fairly reflects the interests of all
taxpaying entities.

         11.  State and Local Income and Franchise Taxes.

              a.   In the case of any taxable year for which a consolidated
income or franchise tax return is filed with any state or local jurisdiction,
which return includes any member of the AngioDynamics Subgroup, AngioDynamics
shall pay to E-Z-EM the proportionate share of any taxes reported on such return
attributable to the AngioDynamics Subgroup computed in a manner consistent with
the principles set forth in Sections 4, 5 and 7 of this Agreement. The
principles set forth in Sections 1 through 10 shall also be applicable to state
and local income and franchise tax returns.

              b.   If the state income or franchise tax liability of E-Z-EM or
any one or more of its Remaining Subsidiaries is determined by reference to the
income, loss, assets, expenses, or activities of any member of the AngioDynamics
Subgroup:

                   (i)   AngioDynamics shall cause a payment to be made to E-Z-
EM equal to the amount, if any, by which the State tax liability of the E-Z-EM
Subgroup (determined on a with and without basis) is increased because of the
income, loss, assets, expenses, or activities of that member or members of the
AngioDynamics Subgroup;

                   (ii)  E-Z-EM shall cause a payment to be made to
AngioDynamics equal to the amount, if any, by which the State tax liability of
the E-Z-EM Subgroup (determined on a with and without basis) is reduced because
of the income, loss, assets, expenses, or activities of that member or members
of the AngioDynamics Subgroup; and

                   (iii) Such payments shall be adjusted to reflect any
examination adjustments or amended returns consistent with the principles set
forth in Section 8.

              c.   Principles similar to those set forth in Section 11(b) shall
apply if the state income or franchise tax liability of any member of the
AngioDynamics Subgroup is determined by reference to the income, loss, assets,
expenses, or activities of E-Z-EM or one or more of its Remaining Subsidiaries.

              d.   No state income or franchise tax return or report shall be
made on a basis that combines or consolidates the income of any member of the
AngioDynamics Subgroup with any member of the E-Z-EM Subgroup unless such
combined reporting has been approved by the boards of directors of both E-Z-EM
and AngioDynamics or has been

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                                     - 7 -

determined to be required by the taxing authority of the state in which such
return or report is filed.

              e.   AngioDynamics agrees to pay all state taxes that arise from
the transfer of assets of the AngioDynamics Subgroup in connection with the
proposed distribution or sale.

         12.  Indemnification. Each party shall pay and be responsible for, and
shall indemnify, defend and hold harmless all other parties to this Agreement
from and against all liabilities allocated to it under this Agreement. Nothing
herein shall be construed to create a claim by one party against the other for
reimbursement of any type of tax covered by this agreement for any taxable
period which is outside of the Applicable Period or is not a Tax Period within
the meaning of Section 1. If any party pays or has paid any Group Tax Liability
or state or local income or franchise tax liability for which another party to
this Agreement is or becomes liable pursuant to the terms of this Agreement,
appropriate reimbursement shall be made no later than 10 days after demand
therefore The portion of any refund, rebate or reimbursement received by any
party to which another party is entitled pursuant to this Agreement shall be
paid over within 10 days of receipt to the party which is entitled thereto. Any
payments required to be made between the parties pursuant to this Agreement
which are not made in a timely fashion shall bear interest calculated at the
rate specified under Section 6621(a)(2) of the Code (the "Underpayment Rate")
from the date such payment is due pursuant to this Agreement to the date the
payment is made. In all other respects Article 10 of the Section 355 Disposition
Agreement shall govern the indemnification procedures and payments under this
Agreement.

         13.  Record Retention. E-Z-EM agrees to (i) retain all Group Tax
Returns, related schedules and workpapers, and all material records and other
documents as required under Section 6001 of the Code and the regulations
promulgated thereunder ("Tax Records") existing on the date hereof, or relating
to any Tax Period, for such period as a tax deficiency may be assessed or a
refund claim filed under applicable periods of limitation, and (ii) allow
AngioDynamics and its representatives (and representatives of any of its
subsidiaries), at times and dates reasonably acceptable to E-Z-EM, to inspect,
review and make copies of such records, and have access to such employees, as
AngioDynamics may reasonably deem necessary or appropriate from time to time,
such activities to be conducted during normal business hours and without
disruption to E-Z-EM's business.

         14.  Complete Agreement. This Agreement shall constitute the entire
agreement among the parties with respect to the subject matter hereof and shall
supersede any previous negotiations, commitments and writings with respect to
such subject matter.

         15.  Successors and Assigns. This Agreement and all of its provisions
hereof shall be binding upon and shall inure to the benefit of the parties and
their respective successors and permitted assigns.

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         16.  Governing Law. This Agreement shall be governed by and construed
in accordance with the laws of the State of New York, without regard to its
principles of conflicts of law.

         17.  Amendments. This Agreement may not be modified or amended except
by an agreement in writing signed by the parties hereto.

         18.  Severability. In case any one or more of the provisions contained
in this Agreement should be invalid, illegal or unenforceable in any respect
against a party hereto, the validity, legality and enforceability of the
remaining provisions contained herein shall not in any way be affected or
impaired thereby and such invalidity, illegality or unenforceability shall only
apply as to such party in the specific jurisdiction where such judgment shall be
made.

         19.  Notices, Communications. All notices and other communications
hereunder shall be in writing and shall be delivered in the manner and at the
address (unless subsequently notified to the contrary in the manner provided
therein) as provided in the Section 355 Disposition Agreement.

         IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed by their duly authorized officers as of the _____ day of _______, 2004.

Attest                                   E-Z-EM, INC.,
                                         On Behalf Of Itself And Its
                                         SUBSIDIARIES

By:________________________________      By:________________________________

Attest                                   ANGIODYNAMICS, INC.
                                         On Behalf Of Itself And Its
                                         SUBSIDIARIES

By:________________________________      By:________________________________<PAGE>

                                                                    Exhibit 10.5

                               CORPORATE AGREEMENT

     THIS CORPORATE AGREEMENT, dated as of _____________, 2004 (this
"Agreement"), is by and between E-Z-EM, Inc., a Delaware corporation ("E-Z-EM"),
and AngioDynamics, Inc. (the "Company"). Certain capitalized terms used herein
are defined in ARTICLE 8 hereof.

     WHEREAS, the Company is currently a wholly-owned subsidiary of E-Z-EM, and
E-Z-EM and the Company contemplate that the Company will make an initial public
offering (the "IPO") of a portion of its common stock pursuant to a registration
statement on Form S-1 filed under the Securities Act;

     WHEREAS, on the date on which the IPO is completed (the "IPO Closing
Date"), E-Z-EM will own at least than 80% of the shares of Common Stock, par
value $.01 per share ("Common Stock"), of the Company outstanding on a Fully
Diluted Basis; and

     WHEREAS, in connection with the IPO and the subsequent Distribution, the
parties desire to enter into this Agreement, inter alia, to provide E-Z-EM with
certain continuing stockholder rights with respect to the Company following the
IPO and to assure compliance by the Company with certain corporate governance
requirements;

     NOW, THEREFORE, in consideration of the above premises and mutual
agreements set forth in this Agreement and subject to the terms and conditions
stated herein, the parties hereby agree as follows:

                                    ARTICLE 1

                                  CONSENT RIGHT

1.1  Defintions used in this ARTICLE 1.

     (a)  As used in Section 1.2, "Spinoff Event" means that E-Z-EM's voting
          rights, ownership percentage in the voting stock of the Company and/or
          ownership of any other class of securities in the Company, as
          calculated under the applicable rules and regulations under the Code,
          would either (i) decrease below 80% on a Fully-Diluted Basis (other
          than Excluded Options), or (ii) be the primary cause of the
          Distribution by E-Z-EM's and any applicable E-Z-EM Entities failing to
          be a tax-free transaction under the Code.

     (b)  As used in Section 1.1(a), "Excluded Options" means options granted
          for compensatory or other purposes that are not included in
          calculations relevant to determining whether a spinoff has remained a
          tax-free transaction under Section 355 of the Code (including
          calculations as to changes in share ownership and voting power and
          determining the availability of safe harbors).

1.2  E-Z-EM Consent Right. Without the prior written consent of E-Z-EM, which
     may be withheld or conditioned by E-Z-EM in its sole discretion, the
     Company agrees that it will not

     (a)  offer, sell, issue or acquire any Equity Securities,
     (b)  enter into any agreement to do any of the foregoing, or

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     (c)  sell or dispose of any assets other than in the ordinary course of
          business ("ordinary course" to be read as including the disposition of
          obsolete, non-performing and/or immaterial assets),

     if such action would result in, or be the primary cause of, a Spinoff
     Event.

1.3  Notice. In requesting the consent of E-Z-EM, the Company shall provide
     E-Z-EM with not fewer than 20 Business Days prior written notice of the
     date of the intended offer, sale, issuance, acquisition and/or non-ordinary
     course sale of assets, and all other information material to E-Z-EM or
     reasonably requested by E-Z-EM, including without limitation the intended
     date and the proposed size of the offer, intended sale, issuance,
     acquisition or non-ordinary course sale of assets, as well as the
     characteristics of the Equity Securities (as applicable). The failure of
     E-Z-EM to respond to such request shall be deemed conclusively to be a
     denial of E-Z-EM of the consent required under Section 1.2 above.

1.4  Without limiting the introductory language in Section 1.2, as a condition
     to E-Z-EM's providing its consent, E-Z-EM may condition the issuance of
     Equity Securities upon the issuance (at the same per unit or per share
     cost) to E-Z-EM of a sufficient number of shares of the applicable Equity
     Securities as would enable the E-Z-EM Entities to own at least 80% of the
     Company's outstanding equity and voting power on a Fully Diluted Basis
     (other than Excluded Options). This Section 1.4 shall inure solely to the
     benefit of E-Z-EM and the E-Z-EM Entities, and the Company shall have no
     rights to compel E-Z-EM or the E-Z-EM Entities to acquire any Equity
     Securities at any time.

1.5  Termination of Consent Right. The consent right granted under this ARTICLE
     1 shall terminate upon the earliest to occur of

     (a)  E-Z-EM granting its consent to the offer, sale, issuance or
          acquisition of Equity Securities where such event is expected by
          E-Z-EM to result, and did result, in a Spinoff Event,

     (b)  E-Z-EM giving notice to the Company that it is abandoning the
          Distribution,

     (c)  the completion of the Distribution by E-Z-EM and any applicable E-Z-EM
          Entities, or

     (d)  February 6, 2005, the one year anniversary of the receipt by E-Z-EM
          and the Company of the favorable private letter ruling from the
          Internal Revenue Service with respect to the Distribution and the
          application submitted on behalf of E-Z-EM and the Company by Caplin
          and Drysdale, Chartered, dated August 7, 2003 (as amended and
          supplemented, the "PLR Application"). If, prior to February 6, 2005,
          E-Z-EM obtains an opinion of tax counsel that the completion of the
          Distribution after the aforementioned one-year period will not result
          in any of the adverse tax effects set forth in the "Rulings Requested"
          portion of the PLR Application, then consent right shall terminate on
          August 6, 2005 and not February 6, 2005.

                                        2

<PAGE>

                                    ARTICLE 2

                               REGISTRATION RIGHTS

2.1  Demand Registration.

     (a)  E-Z-EM shall have the right, exercisable on multiple occasions from
          time to time during the term of this Agreement, but together with
          Unregistered Demands (as defined in Section 3.1(a) below) no more
          frequently than once during any twelve-month period, to require the
          Company to register for offer and sale under the Securities Act (a
          "Demand") all or a portion of the Common Stock held by the E-Z-EM
          Entities, subject to the restrictions set forth herein; provided that
          E-Z-EM shall not be entitled to make a Demand hereunder unless (i) the
          Common Stock subject to such Demand represents at least 5% of the
          aggregate shares of Common Stock then issued and outstanding, (ii) at
          least six months have passed since the completion of the IPO and (iii)
          at least six months have passed since the completion of the last
          offering pursuant to a Demand or Unregistered Demand under Section
          3.1. As promptly as practicable (but in no event later than 45 days)
          after the Company receives from E-Z-EM a notice pursuant to this
          Section 2.1(a) (a "Demand Notice"), demanding that the Company
          register part or all of the Common Stock held by the E-Z-EM Entities
          for offer and sale under the Securities Act, subject to Section
          2.1(b), the Company shall (i) file with the Commission a Registration
          Statement relating to the offer and sale of the Applicable Securities
          on such form as E-Z-EM may reasonably deem appropriate and (ii) after
          such filing, use reasonable best efforts to cause such Registration
          Statement to be declared effective under the Securities Act. Subject
          to Section 2.1(b), the Company shall use reasonable best efforts to
          keep each Registration Statement continuously effective in order to
          permit E-Z-EM to use the Prospectus forming a part thereof for resales
          of the Applicable Securities for a period ending on the earlier of (i)
          120 days from the Effective Time of such Registration Statement and
          (ii) such time as all of such securities have been disposed of by
          E-Z-EM. Subject to Section 2.1(b), the Company shall use reasonable
          best efforts to prepare and file with the Commission such amendments,
          post-effective amendments and supplements to the Registration
          Statement as may be necessary to maintain the effectiveness of the
          Registration Statement for such period and to cause the Prospectus
          forming a part thereof (and any amendments or supplements thereto) to
          be filed pursuant to Rules 424 and 430A under the Securities Act; and
          comply with the provisions of the Securities Act with respect to the
          disposition of all Applicable Securities covered by such Registration
          Statement during the applicable period in accordance with the intended
          method or methods of distribution thereof, as specified in writing by
          E-Z-EM.

     (b)  The Company shall have the right to postpone the filing, or delay the
          effectiveness, of a Registration Statement, or fail to keep such
          Registration Statement continuously effective or not amend or
          supplement the Registration Statement or included Prospectus, if the
          Board of Directors of the Company determines in good faith that (i)
          based upon the advice of counsel, filing such Registration Statement
          or causing the Registration Statement to go effective

                                        3

<PAGE>

          would require disclosure of material nonpublic information concerning
          a planned or proposed financing, acquisition, disposition, business
          combination or other similar transaction or other material event
          involving the Company or its Subsidiaries and (ii) disclosure at such
          time would be adverse to the Company or its stockholders; provided
          that no such postponement shall exceed 90 days and there shall be no
          more than one such postponement in any 12-month period. Any such
          postponement shall terminate immediately upon public disclosure by the
          Company or public admission by the Company of such material nonpublic
          information. The Company shall advise E-Z-EM of any such determination
          as promptly as practicable after such determination.

     (c)  E-Z-EM shall have the right to withdraw any Demand at any time. Any
          such withdrawn Demand after a Registration Statement has been filed
          shall still be counted as a Demand for determining the number or
          frequency of Demands under Section 2.1(a), unless E-Z-EM shall
          reimburse or pay the costs and fees incurred in connection therewith.

     (d)  In the event that any Registration pursuant to this Section 2.1 shall
          involve, in whole or in part, an underwritten offering, the lead
          managing underwriter (book runner) shall be selected by E-Z-EM and
          shall be reasonably acceptable to the Company, and, if the shares
          covered by the Registration have an aggregate value exceeding $20
          million, a the Company may select a co-managing underwriter reasonably
          acceptable to E-Z-EM.

2.2  Piggy-back Registration.

     (a)  If at any time the Company intends to file on its behalf or on behalf
          of any of its securityholders a Registration Statement in connection
          with a public offering of any securities of the Company on a form and
          in a manner that would permit the registration for offer and sale of
          Common Stock held by the E-Z-EM Entities, other than a registration
          statement on Form S-8 or Form S-4, then the Company shall give written
          notice (an "Intended Offering Notice") of such intention to E-Z-EM at
          least 20 Business Days prior to the anticipated filing date of such
          Registration Statement. Such Intended Offering Notice shall offer to
          include in such Registration Statement for offer to the public such
          number of shares of Common Stock as E-Z-EM may request, subject to the
          conditions set forth herein, and shall specify, to the extent then
          known, the number and class of securities proposed to be registered,
          the proposed date of filing of such Registration Statement, any
          proposed means of distribution of such securities, any proposed
          managing underwriter or underwriters of such securities and a good
          faith estimate by the Company of the proposed maximum offering price
          of such securities, as such price is proposed to appear on the facing
          page of such Registration Statement. E-Z-EM shall advise the Company
          in writing (such written notice being a "Piggy-back Notice") not later
          than 10 Business Days after the Company's delivery to E-Z-EM of the
          Intended Offering Notice, if E-Z-EM desires to participate in such
          offering. The Piggy-back Notice shall set forth the number of shares
          of Common Stock E-Z-EM desires to have included in the Registration
          Statement and offered to the public. Upon the request of the Company,
          E-Z-EM shall enter into such underwriting, custody and other
          agreements as are customary in connection with registered secondary
          offerings or necessary or appropriate in connection with the offering.

                                        4

<PAGE>

     (b)  In connection with an underwritten offering pursuant to this Section
          2.2, if the managing underwriter or underwriters advise the Company
          and E-Z-EM in writing that in its or their opinion the number of
          securities proposed to be registered exceeds the number that can be
          sold in such offering, the Company shall include in such Registration
          the number of securities that, in the opinion of such managing
          underwriter or underwriters, can be sold as follows: (i) first, the
          securities that the Company proposes to sell, (ii) second, Applicable
          Securities requested to be included in such Registration by E-Z-EM and
          (iii) third, other securities requested to be included in such
          Registration.

     (c)  The rights of E-Z-EM pursuant to Section 2.1 hereof and this Section
          2.2 are cumulative, and the exercise of rights under one such section
          shall not exclude the subsequent exercise of rights under the other
          section (except to the extent expressly provided otherwise herein).
          Notwithstanding anything herein to the contrary, the Company may
          abandon and/or withdraw any Registration as to which any right under
          Section 2.2 may exist at any time and for any reason without liability
          hereunder. In such event, the Company shall notify E-Z-EM (if E-Z-EM
          has delivered a Piggy-back Notice to the Company to participate
          therein).

     (d)  Nothing contained in this Section 2.2 shall be deemed to eliminate the
          requirements of obtaining E-Z-EM's consent under ARTICLE 1.

2.3  Registration Procedures. In connection with a Registration Statement, the
     following provisions shall apply:

     (a)  Before filing a Registration Statement or the Prospectus included
          therein, the Company will furnish to E-Z-EM and the managing
          underwriter or underwriters, if any, draft copies of all such
          documents proposed to be filed at least three (3) days prior to such
          filing, which documents will be subject to the reasonable review of
          E-Z-EM and the managing underwriter or underwriters, if any, and their
          respective agents and representatives and (x) the Company will not
          include in any Registration Statement information concerning or
          relating to E-Z-EM to which E-Z-EM shall reasonably object (unless the
          inclusion of such information is required by applicable law or the
          regulations of any securities exchange or automated quotation system
          to which the Company may be subject), and (y) the Company will not
          file any Registration Statement pursuant to Section 2.1, any amendment
          thereto, or any Prospectus or any supplement thereto to which E-Z-EM
          shall reasonably object.

     (b)  The Company shall furnish to E-Z-EM, prior to the time the
          Registration Statement has been declared effective, a copy of the
          Registration Statement as initially filed with the Commission, and
          each amendment thereto and each amendment or supplement, if any, to
          the Prospectus included therein.

     (c)  Subject to Section 2.1(b) and in respect of a Registration Statement
          under Section 2.1, the Company shall use reasonable best efforts to
          take promptly such action as may be necessary so that (i) each of the
          Registration Statement and any amendment thereto and the Prospectus
          forming part thereof and any amendment or supplement thereto (and each
          report or other document incorporated therein by

                                        5

<PAGE>

          reference in each case), when it becomes effective, complies in all
          material respects with the Securities Act and the Exchange Act, (ii)
          each of the Registration Statement and any amendment thereto does not,
          when it becomes effective, contain 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 and (iii) each
          of the Prospectus forming part of the Registration Statement, and any
          amendment or supplement to such Prospectus, does not at any time
          during the period during which the Company is required to use
          reasonable best efforts to keep a Registration Statement effective
          under Section 2.1(a) include an untrue statement of a material fact or
          omit to state a material fact necessary in order to make the
          statements therein, in the light of the circumstances under which they
          were made, not misleading.

     (d)  The Company shall, promptly upon learning thereof, advise E-Z-EM and
          the managing underwriter or underwriters, if any, thereof, of the
          following, and shall confirm such advice in writing if so requested:

          (i)   when a Registration Statement and any amendment thereto has been
                filed with the Commission and when the Registration Statement or
                any post-effective amendment thereto has become effective;

          (ii)  of any request by the Commission for amendments or supplements
                to the Registration Statement or the Prospectus included therein
                or for additional information with respect to the Registration
                Statement and Prospectus;

          (iii) of the issuance by the Commission of any stop order suspending
                the effectiveness of the Registration Statement or the
                initiation of any proceedings for such purpose;

          (iv)  of the receipt by the Company of any notification with respect
                to the suspension of the qualification of the securities
                included in the Registration Statement for sale in any
                jurisdiction or the initiation of any proceeding for such
                purpose; and

          (v)   following the effectiveness of any Registration Statement, of
                the happening of any event or the existence of any state of
                facts that requires the making of any changes in the
                Registration Statement or the Prospectus included therein so
                that, as of such date, such Registration Statement and
                Prospectus do not contain an untrue statement of a material fact
                and do not omit to state a material fact required to be stated
                therein or necessary to make the statements therein (in the case
                of the Prospectus, in light of the circumstances under which
                they were made) not misleading (which advice shall be
                accompanied by an instruction to E-Z-EM to suspend the use of
                the Prospectus until the requisite changes have been made, which
                instruction E-Z-EM agrees to follow).

     (e)  In respect of a Registration Statement under Section 2.1 (and not
          Section 2.2), the Company shall use reasonable best efforts to prevent
          the issuance, and if issued to obtain the withdrawal, of any stop
          order suspending the effectiveness of the Registration Statement at
          the earliest possible time.

                                        6

<PAGE>

     (f)  The Company shall furnish to E-Z-EM, without charge, at least one copy
          of the Registration Statement and all post-effective amendments
          thereto, including financial statements and schedules, and, if E-Z-EM
          so requests in writing, all reports, other documents and exhibits that
          are filed with or incorporated by reference in the Registration
          Statement.

     (g)  The Company shall, during the period during which it is required to
          use reasonable best efforts to keep a Registration Statement
          continuously effective under Section 2.1(a) or elects to keep a
          Registration Statement effective under Section 2.2, deliver to E-Z-EM
          without charge, as many copies of the Prospectus (including each
          preliminary Prospectus) included in the Registration Statement and any
          amendment or supplement thereto as E-Z-EM may reasonably request, and
          the Company consents (except during the continuance of any event
          described in Section 2.1(b) or Section 2.3(d)(v) hereof) to the use of
          the Prospectus, with any amendment or supplement thereto, by E-Z-EM in
          connection with the offering and sale of the Applicable Securities
          covered by the Prospectus and any amendment or supplement thereto
          during such period.

     (h)  In connection with the rights provided by this ARTICLE 2, the Company
          shall, except during any permitted postponement pursuant to Section
          2.1(b), make available for inspection by E-Z-EM or by any attorney,
          accountant or other agent retained by E-Z-EM (collectively, the
          "Inspectors") financial and other records and pertinent corporate
          documents of the Company (collectively, the "Records"), provide the
          Inspectors with opportunities to discuss the business of the Company
          with its officers, and provide opportunities to discuss the business
          of the Company with the independent public accountants who have
          certified its most recent annual financial statements, in each case to
          the extent but only to the extent reasonably necessary to enable
          E-Z-EM to conduct a "reasonable investigation" for purposes of Section
          11(a) of the Securities Act. Records that the Company determines, in
          good faith, to be confidential and with respect to which the Company
          notifies the Inspectors as to the confidential nature thereof shall
          not be disclosed by the Inspectors unless (i) the disclosure of such
          Records is necessary to avoid or correct a misstatement of a material
          fact or omission to state a material fact in the Registration
          Statement, (ii) the disclosure of such Records is required by any
          court or governmental body with jurisdiction over E-Z-EM or the
          Inspectors or (iii) all of the information contained in such Records
          has been made generally available to the public. E-Z-EM agrees that it
          will, upon learning that disclosure of such Records is sought in a
          court of competent jurisdiction or by any governmental body, promptly
          give prior notice to the Company and allow the Company, at the
          Company's expense, to undertake appropriate action to prevent
          disclosure of those Records deemed confidential.

     (i)  Prior to any offering of Applicable Securities pursuant to the
          Registration Statement, the Company shall use reasonable best efforts
          to (i) register or qualify or cooperate with E-Z-EM and its counsel in
          connection with the registration or qualification of such Applicable
          Securities for offer and sale under the securities (or "blue sky")
          laws of such jurisdictions within the United States as E-Z-EM may
          reasonably request, (ii) keep such registrations or qualifications in
          effect and comply with such laws so as to permit the continuance of
          offers and sales in such jurisdictions for the period during which the
          Company is required to use

                                        7

<PAGE>

          reasonable best efforts to keep a Registration Statement continuously
          effective under Section 2.1(a), and (iii) take any and all other
          reasonable actions requested by E-Z-EM which are necessary to enable
          the disposition in such jurisdictions of such Applicable Securities;
          provided, however, that in no event shall the Company be obligated to
          (1) qualify as a foreign corporation or as an issuer of or dealer in
          securities in any jurisdiction where it would not otherwise be
          required to so qualify but for this Agreement or (2) file any general
          consent to service of process or subject itself to tax in any
          jurisdiction where it is not so subject.

     (j)  The Company shall cooperate with E-Z-EM to facilitate the timely
          preparation and delivery of certificates representing Applicable
          Securities to be sold pursuant to the Registration Statement, which
          certificates shall comply with the requirements of any United States
          securities exchange upon which any Applicable Securities are listed
          (provided that nothing herein shall require the Company to list any
          Applicable Securities on any securities exchange or with any quotation
          system on which they are not currently listed or quoted, as
          applicable) or the NASD Rules, as applicable, and which certificates
          shall be free of any restrictive legends and in such permitted
          denominations and registered in such names as E-Z-EM may request in
          connection with the sale of Applicable Securities pursuant to the
          Registration Statement.

     (k)  The Company shall:

          (i)   make such reasonable representations and warranties in the
                applicable underwriting agreement to the underwriters, in form,
                substance and scope as are customary and as are consistent with
                the representations and warranties made in the underwriting
                agreement related to the IPO;

          (ii)  in connection with any underwritten offering, use reasonable
                best efforts to obtain opinions of counsel to the Company (which
                counsel and opinions, in form, scope and substance, shall be
                reasonably satisfactory to the underwriters) addressed to the
                underwriters, covering such matters as are customary to the
                extent reasonably required by the applicable underwriting
                agreement;

          (iii) in connection with any underwritten offering, use reasonable
                best efforts to obtain "cold comfort" letters and updates
                thereof from the independent public accountants of the Company
                (and, if necessary, from the independent public accountants of
                any subsidiary of the Company or of any business acquired by the
                Company for which financial statements and financial data are,
                or are required to be, included in the Registration Statement),
                addressed to E-Z-EM and the underwriters, in customary form and
                covering matters of the type customarily covered in "cold
                comfort" letters in connection with secondary underwritten
                offerings of equity securities;

          (iv)  in connection with any underwritten offering, use reasonable
                best efforts to deliver such documents and certificates as may
                be reasonably requested by E-Z-EM and the underwriters, if any,
                including, without limitation, certificates to evidence
                compliance with any conditions

                                        8

<PAGE>

                contained in the underwriting agreement or other agreements
                entered into by the Company; and

          (v)   undertake such obligations relating to expense reimbursement,
                indemnification and contribution as provided in Section 2.4 and
                ARTICLE 4 hereof.

     (l)  The Company shall comply with all applicable rules and regulations of
          the Commission and make available to its security holders an earnings
          statement, as soon as reasonably practicable but in no event later
          than 90 days after the end of the twelve month period commencing on
          the first day of any fiscal quarter after the date hereof following
          each sale by E-Z-EM of Applicable Securities, which earnings statement
          shall cover such twelve-month period and shall satisfy the
          requirements under the Securities Act.

     (m)  In respect of a Registration Statement under Section 2.1 (and not
          Section 2.2), the Company shall use reasonable best efforts to take
          all other steps reasonably necessary to effect the timely
          registration, offering and sale of the Applicable Securities covered
          by the Registration Statements contemplated hereby.

2.4  Registration Expenses. The Company shall bear the Registration Expenses in
     connection with the performance of its obligations under Section 2.1,
     Section 2.2 and Section 2.3. E-Z-EM shall bear all of the fees and expenses
     of counsel to E-Z-EM, any applicable underwriting discounts or commissions,
     and registration or filing fees with respect to the Applicable Securities
     being sold by E-Z-EM.

2.5  Registrable Securities. The registration rights granted under this ARTICLE
     2 relate only to the following securities: (i) the shares of the Company's
     common stock held by E-Z-EM or the E-Z-EM Entities on the date of the
     Distribution, (ii) shares of the Company's common stock acquired by E-Z-EM
     or another E-Z-EM Entity as a condition to granting a consent under ARTICLE
     1 hereof (including without limitation as set forth in Section 1.4), and
     (iii) securities constituting proceeds of the foregoing (other than
     securities acquired with cash dividends), whether received through stock
     dividends, stock splits, share consolidations/reverse splits, mergers or
     otherwise (as contemplated in Section 7.6 hereof.

2.6  Other Provisions; Cooperation; Filing of Reports.

     (a)  The respective agreements and other provisions set forth in this
          ARTICLE 2 or made pursuant to this ARTICLE 2 shall remain in full
          force and effect, regardless of any investigation (or any statement as
          to the results thereof) made by or on behalf of E-Z-EM, any director,
          officer or partner of E-Z-EM, any agent or underwriter, any director,
          officer or partner of such agent or underwriter, or any Affiliate of
          any of the foregoing, and shall survive the registration, offering and
          sale of the Applicable Securities.

     (b)  E-Z-EM shall cooperate with respect to any Registration effected under
          this Agreement and shall provide such information, documents, and
          instruments as may be reasonably requested in connection therewith.

                                        9

<PAGE>

     (c)  The Company shall use reasonable best efforts to file all reports
          required to be filed with respect to the Company under Section 13 or
          Section 15(d) of the Exchange Act during such time as E-Z-EM has
          rights remaining under this ARTICLE 2.

                                    ARTICLE 3

                             UNREGISTERED OFFERINGS

3.1  Unregistered Demand.

     (a)  E-Z-EM shall have the right, exercisable on multiple occasions from
          time to time during the term of this Agreement, but together with any
          Demand no more frequently than once during any twelve-month period, to
          require (in an "Unregistered Demand") that the Company prepare an
          offering memorandum or similar document (each, an "Offering
          Memorandum") in connection with any offer or sale of Common Stock held
          by the E-Z-EM Entities, subject to the restrictions set forth herein,
          that is not registered under the Securities Act (each, an
          "Unregistered Offering"); provided that E-Z-EM shall not be entitled
          to make an Unregistered Demand hereunder unless (i) the Common Stock
          subject to such Unregistered Demand represents at least 5% of the
          aggregate shares of Common Stock then issued and outstanding, (ii) at
          least six months have passed since the completion of the IPO and (iii)
          at least six months have passed since the completion of the last
          offering pursuant to a Demand under Section 2.1 or sale pursuant to an
          Unregistered Demand. As promptly as practicable (but in no event later
          than 30 days) after the Company receives from E-Z-EM a notice pursuant
          to this Section 3.1(a) (an "Unregistered Notice"), demanding that the
          Company prepare an Offering Memorandum with respect to part or all of
          the Common Stock held by the E-Z-EM Entities for offer and sale,
          subject to Section 3.1(b), the Company shall prepare such Offering
          Memorandum.

     (b)  The Company shall have the right to postpone the preparation or
          distribution of an Offering Memorandum if the Board of Directors of
          the Company determines in good faith that (i) based upon the advice of
          counsel, distributing such Offering Memorandum would require
          disclosure in the Offering Memorandum of material nonpublic
          information concerning a planned or proposed financing, acquisition,
          disposition, business combination or similar transaction or other
          material event involving the Company and (ii) disclosure at such time
          would be adverse to the Company or its stockholders; provided that no
          one such postponement shall exceed 90 days and the Company may only
          postpone preparation or distribution of the Offering Memorandum one
          time in any 12-month period. Any such postponement shall terminate
          immediately upon public disclosure by the Company or public admission
          by the Company of such material nonpublic information. The Company
          shall advise E-Z-EM of any such determination as promptly as
          practicable after such determination.

     (c)  Anything in this Agreement to the contrary notwithstanding, the
          Company shall not be obligated to prepare any Offering Memorandum or
          may postpone and delay the preparation and distribution of any
          Offering Memorandum if the Company shall determine, based on advice of
          recognized U.S. securities counsel

                                       10

<PAGE>

          which counsel shall be available to the E-Z-EM to discuss the basis of
          such advice, that the proposed offer and sale of Applicable Securities
          in E-Z-EM's intended method of distribution would require that the
          Company register the securities under the Securities Act. In making
          such determination, the Company shall be entitled to take into account
          any offerings or anticipated offerings by it of its securities that
          may be deemed a part of the Unregistered Offering. In such event, such
          proposed Unregistered Offering shall not be counted as an Unregistered
          Demand for determining the frequency of Unregistered Demands under
          Section 3.1. In addition, E-Z-EM shall be entitled to exercise any
          Piggy-Back Registration rights subject to the terms and conditions of
          Section 2.2, or alternatively, to require the Company to undertake a
          Demand subject to the terms and conditions of Section 2.1.

     (d)  E-Z-EM shall have the right to withdraw any Unregistered Demand at any
          time, provided that any such withdrawn Unregistered Demand shall still
          be counted as an Unregistered Demand for determining the frequency of
          Unregistered Demands under Section 3.1(a) unless E-Z-EM shall
          reimburse or pay the costs and fees incurred in connection therewith.

3.2  Unregistered Offering Procedures. In connection with an Offering
     Memorandum, the following provisions shall apply:

     (a)  Before distributing an Offering Memorandum or any amendments or
          supplements thereto, the Company will furnish to E-Z-EM, and the
          placement agent or agents, if any, for the Applicable Securities,
          draft copies of all such documents proposed to be distributed at least
          three (3) days prior to such distribution, which documents will be
          subject to the reasonable review of E-Z-EM, the placement agent or
          agents, if any, for the Applicable Securities, and their respective
          agents and representatives and (x) the Company will not include in any
          Offering Memorandum information concerning or relating to E-Z-EM to
          which E-Z-EM shall reasonably object (unless the inclusion of such
          information is required by applicable law or the regulations of any
          securities exchange to which the Company may be subject), and (y) the
          Company will not distribute any Offering Memorandum pursuant to
          Section 3.1 or any amendment thereto or any supplement thereto to
          which E-Z-EM shall reasonably object;

     (b)  Subject to Section 3.1(b) and in respect of an Offering Memorandum
          under Section 3.1, the Company shall use reasonable best efforts to
          take promptly such action as may be necessary so that each of the
          Offering Memorandum and any amendment thereto does not contain an
          untrue statement of a material fact or omit to state a material fact
          necessary in order to make the statements therein, in light of the
          circumstances under which they were made, not misleading.

     (c)  The Company shall, promptly upon learning thereof, advise E-Z-EM of
          the following, and shall confirm such advice in writing if so
          requested:

          (i)   the issuance by the Commission of any stop order suspending the
                use of any Offering Memorandum or the initiation of any
                proceedings for such purpose;

                                       11

<PAGE>

          (ii)  the receipt by the Company of any notification with respect to
                the suspension of the qualification of the Applicable Securities
                for sale in any jurisdiction or the initiation of any proceeding
                for such purpose; and

          (iii) the happening of any event or the existence of any state of
                facts that requires the making of any changes in the Offering
                Memorandum so that such Offering Memorandum does not contain an
                untrue statement of a material fact and does not omit to state a
                material fact required to be stated therein or necessary to make
                the statements therein not misleading (which advice shall be
                accompanied by an instruction to E-Z-EM to suspend the use of
                the Offering Memorandum until the requisite changes have been
                made, which instruction E-Z-EM agrees to follow).

     (d)  The Company shall furnish to E-Z-EM, without charge, at least one copy
          of the Offering Memorandum and all amendments and supplements thereto,
          including financial statements and schedules, and, if E-Z-EM so
          requests in writing, all reports, other documents and exhibits that
          are filed with or incorporated by reference in the Offering
          Memorandum.

     (e)  During the distribution of the Offering Memorandum pursuant to Section
          3.1, the Company shall deliver to E-Z-EM without charge as many copies
          of the Offering Memorandum and any amendment or supplement thereto as
          E-Z-EM may reasonably request, and the Company consents (except during
          the continuance of any event described in Section 3.1(b), Section
          3.1(c) or Section 3.2(c)(iii) hereof) to the use of the Offering
          Memorandum, with any amendment or supplement thereto, by E-Z-EM in
          connection with the offering and sale of the Applicable Securities
          covered by the Offering Memorandum and any amendment or supplement
          thereto during such distribution period.

     (f)  Prior to any offering of Applicable Securities pursuant to the
          Offering Memorandum, the Company shall use reasonable best efforts to
          (i) qualify or cooperate with E-Z-EM and its counsel in connection
          with the qualification of such Applicable Securities for offer and
          sale under the securities (or "blue sky") laws of such jurisdictions
          in the United States as E-Z-EM may reasonably request, (ii) keep such
          qualifications in effect and comply with such laws so as to permit the
          continuance of offers and sales in such jurisdictions for the period
          during which the Company is required to use reasonable best efforts to
          prepare an Offering Memorandum under Section 3.1(a), and (iii) take
          any and all other reasonable actions requested by E-Z-EM that are
          necessary to enable the disposition in such jurisdictions of such
          Applicable Securities; provided, however, that in no event shall the
          Company be obligated to (1) qualify as a foreign corporation or as a
          dealer in securities in any jurisdiction where it would not otherwise
          be required to so qualify but for this Agreement or (2) file any
          general consent to service of process or subject itself to tax in any
          jurisdiction where it is not so subject.

     (g)  The Company shall cooperate with E-Z-EM to facilitate the timely
          preparation and delivery of certificates representing Applicable
          Securities to be sold pursuant to the Offering Memorandum, which
          certificates shall comply with the requirements of any United States
          securities exchange which any Applicable Securities are listed
          (provided that nothing herein shall require the Company to

                                       12

<PAGE>

          list any Applicable Securities on any securities exchange or with any
          quotation system on which they are not currently listed or quoted) or
          the NASD Rules, as applicable, and which certificates shall contain
          customary legends and be in such permitted denominations and
          registered in such names as E-Z-EM may request in connection with the
          sale of Applicable Securities pursuant to the Offering Memorandum.

     (h)  The Company shall use reasonable best efforts to make such reasonable
          representations and warranties in the applicable placement agency
          agreement to the placement agents, in form, substance and scope as are
          customary.

     (i)  In connection with any Unregistered Offering pursuant to Rule 144A
          under the Securities Act, the Company shall, to the extent customary
          in connection with transactions comparable to such Unregistered
          Offering, undertake to enter into a registration rights agreement
          containing customary terms and conditions with the purchasers in such
          Unregistered Offering.

     (j)  In respect of an Offering Memorandum under Section 3.1, the Company
          shall use reasonable best efforts to take all other steps reasonably
          necessary to effect the timely distribution, offering and sale of the
          Applicable Securities covered by the Offering Memorandum contemplated
          hereby.

3.3  Other Provisions; Cooperation.

     (a)  The respective agreements and other provisions set forth in this
          ARTICLE 3 or made pursuant to this ARTICLE 3 shall remain in full
          force and effect, regardless of any investigation (or any statement as
          to the results thereof) made by or on behalf of E-Z-EM, any director,
          officer or partner of E-Z-EM, any placement agent, any director,
          officer or partner of such placement agent, or any Affiliate of any of
          the foregoing, and shall survive the distribution, offering and sale
          of the Applicable Securities.

     (b)  E-Z-EM shall cooperate with respect to any Offering Memorandum
          effected under this Agreement and shall provide such information,
          documents, and instruments as may be reasonably requested in
          connection therewith.

3.4  Private Sales to which Applicable. The obligations to prepare and
     distribute an offering memorandum and other obligations set forth in this
     ARTICLE 3 relate only to the sale, transfer and/or assignment by E-Z-EM of
     the following securities: (i) the shares of the Company's common stock held
     by E-Z-EM or the E-Z-EM Entities on the date of the Distribution, (ii)
     shares of the Company's common stock acquired by E-Z-EM or another E-Z-EM
     Entity as a condition to granting a consent under ARTICLE 1 hereof
     (including without limitation as set forth in Section 1.4), and (iii)
     securities constituting proceeds of the foregoing (other than securities
     acquired with cash dividends), whether received through stock dividends,
     stock splits, share consolidations/reverse splits, mergers or otherwise.

                                       13

<PAGE>

                                    ARTICLE 4

                        INDEMNIFICATION AND CONTRIBUTION

4.1  Indemnification by the Company. Upon the effectiveness of the Registration
     of Applicable Securities pursuant to Section 2.1 or Section 2.2, or the
     distribution of the Offering Memorandum pursuant to Section 3.1, the
     Company shall indemnify and hold harmless E-Z-EM and each underwriter,
     selling agent or placement agent, and their respective officers and
     directors and each Person who controls E-Z-EM or such underwriter, selling
     agent or placement agent within the meaning of Section 15 of the Securities
     Act or Section 20 of the Exchange Act (each such Person being sometimes
     referred to as an "Indemnified Person") from and against any losses,
     claims, damages or liabilities, joint or several (or actions in respect
     thereof), to which such Indemnified Person may become subject under the
     Securities Act, the Exchange Act or otherwise, insofar as such losses,
     claims, damages or liabilities (or actions in respect thereof) arise out of
     or are based upon an untrue statement or alleged untrue statement of a
     material fact contained in any Registration Statement (or any Prospectus
     contained therein) or Offering Memorandum, as the case may be, under which
     such Applicable Securities are registered under the Securities Act or
     distributed, respectively, or furnished by the Company to any Indemnified
     Person, or any amendment or supplement thereto in each case relating to the
     sale of Applicable Securities, or arise out of or are based upon the
     omission or alleged omission to state therein a material fact required to
     be stated therein or necessary to make the statements therein not
     misleading, and the Company hereby agrees to reimburse such Indemnified
     Person for any reasonable legal or other expenses reasonably incurred by it
     in connection with investigating or defending any such loss, claim, damage
     or liability (or action in respect thereof) as such expenses are incurred;
     provided, however, that (i) the Company shall not be liable to any such
     Indemnified Person in any such case 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 made
     in such Registration Statement, Prospectus or Offering Memorandum, or
     amendment or supplement, in reliance upon and in conformity with written
     information furnished to the Company by such Indemnified Person expressly
     for use therein; (ii) the Company shall not be liable to the extent that
     any loss, claim, damage, liability (or action or proceeding in respect
     thereof) or expense arises out of or is based upon (a) the use of any
     Prospectus after such time as the obligation of the Company to keep the
     same effective and current has expired, or (b) the use of any Prospectus
     after such time as the Company has advised E-Z-EM in writing that a
     post-effective amendment or supplement thereto is required, except such
     Prospectus as so amended or supplemented.

4.2  Indemnification by E-Z-EM. E-Z-EM agrees, as a consequence of the inclusion
     of Applicable Securities in such Registration Statement or Offering
     Memorandum, to (i) indemnify and hold harmless the Company and its
     directors and officers and each Person, if any, who controls the Company,
     within the meaning of either Section 15 of the Securities Act or Section 20
     of the Exchange Act, against any losses, claims, damages or liabilities (or
     actions in respect thereof) to which the Company or such other Persons may
     become subject, under the Securities Act, the Exchange Act or otherwise,
     insofar as such losses, claims, damages or liabilities (or actions in
     respect thereof) arise out of or are based upon an untrue statement or
     alleged untrue statement of a material fact contained in such Registration
     Statement, Prospectus or Offering Memorandum, or any amendment or
     supplement thereto, or arise out of or are based upon the omission or
     alleged omission to state therein a material fact required to be stated
     therein or necessary to make the

                                       14

<PAGE>

     statements therein not misleading, in each case to the extent, but only to
     the extent, that such untrue statement or alleged untrue statement or
     omission or alleged omission was made in reliance upon and in conformity
     with written information furnished to the Company by E-Z-EM expressly for
     use therein, and (ii) subject to the limitation set forth immediately
     preceding this clause (ii), reimburse the Company for any legal or other
     expenses reasonably incurred by it in connection with investigating or
     defending any such action or claim as such expenses are incurred.

4.3  Procedure for Indemnification. Promptly after receipt by any Person
     entitled to indemnity (an "Indemnitee") under Section 4.1 or Section 4.2
     hereof of notice of the commencement of any action or claim, such
     Indemnitee shall, if a claim in respect thereof is to be made against an
     indemnitor (an "Indemnitor") under this ARTICLE 4, notify such Indemnitor
     in writing of the commencement thereof, but any omission or delay in
     notifying the Indemnitor shall not relieve it from any liability which it
     may have to any Indemnitee except to the extent of any actual prejudice. In
     case any such action shall be brought against any Indemnitee, it shall
     notify an Indemnitor of the commencement thereof, such Indemnitor shall be
     entitled to participate therein and, to the extent that it shall wish,
     jointly with any other Indemnitor similarly notified, to assume the defense
     thereof, with counsel reasonably satisfactory to such Indemnitee, and,
     after notice from the Indemnitor to such Indemnitee of its election so to
     assume the defense thereof, such Indemnitor shall not be liable to such
     Indemnitee under this ARTICLE 4 for any legal expenses of other counsel or
     any other expenses, in each case subsequently incurred by such Indemnitee,
     in connection with the defense thereof. No Indemnitor shall, without the
     prior written consent of the Indemnitee, effect the settlement or
     compromise of, or consent to the entry of any judgment with respect to, any
     pending or threatened action or claim in respect of which indemnification
     or contribution may be sought hereunder (whether or not the Indemnitee is
     an actual or potential party to such action or claim) unless such
     settlement, compromise or judgment (i) includes an unconditional release of
     the Indemnitee from all liability arising out of such action or claim and
     (ii) does not include a statement as to, or an admission of, fault,
     culpability or a failure to act, by or on behalf of any Indemnitee.
     Notwithstanding the foregoing, an Indemnitee shall have the right to employ
     separate counsel reasonably acceptable to the Indemnitor in any such
     proceeding and to participate in (but not control, other than as provided
     in (3) below) the defense thereof, but the fees and expenses of such
     counsel shall be at the expense of such Indemnitee unless (1) the
     Indemnitor has agreed to pay such fees and expenses; (2) the Indemnitor
     shall have failed after notice to assume the defense of such proceeding; or
     (3) the named parties to any such proceeding (including any impleaded
     parties) include both such Indemnitee and the Indemnitor or any of its
     Affiliates or controlling persons, and a conflict of interest may
     reasonably be expected to exist if such counsel represents such Indemnitee
     and the Indemnitor (or such Affiliate or controlling person) and in the
     case of (3), the Indemnitee shall have the right to control the
     Indemnitee's defense and in each of the cases, if such Indemnitee notifies
     the Indemnitor in writing that it elects to employ separate counsel, the
     reasonable fees and expenses of such counsel shall be at the expense of the
     Indemnitor; it being understood, however, that the Indemnitor shall not, in
     connection with any one such proceeding or separate but substantially
     similar or related proceedings in the same jurisdiction, arising out of the
     same general allegations or circumstances, be liable for the reasonable
     fees and expenses of more than one separate firm of attorneys (together
     with appropriate local counsel) at any time for all such Indemnitees, which
     firm shall be designated by the Indemnitee that had the largest number of
     shares included in the applicable Registration

                                       15

<PAGE>

     Statement. An Indemnitor shall not be liable for any settlement of an
     action effected without its written consent.

4.4  Contribution. If the indemnification provided for in this ARTICLE 4 is
     unavailable to or insufficient to hold harmless an Indemnitee under Section
     4.1 or Section 4.2 hereof in respect of any losses, claims, damages or
     liabilities (or actions in respect thereof) referred to therein, then each
     Indemnitor shall contribute to the amount paid or payable by such
     Indemnitee as a result of such losses, claims, damages or liabilities (or
     actions in respect thereof) in such proportion as is appropriate to reflect
     the relative fault of the Indemnitor and the Indemnitee in connection with
     the statements or omissions which resulted in such losses, claims, damages
     or liabilities (or actions in respect thereof), as well as any other
     relevant equitable considerations. The relative fault of such Indemnitor
     and Indemnitee shall be determined by reference to, among other things,
     whether the untrue or alleged untrue statement of a material fact or
     omission or alleged omission to state a material fact relates to
     information supplied by such Indemnitor or by such Indemnitee, and the
     parties' relative intent, knowledge, access to information and opportunity
     to correct or prevent such statement or omission. The parties hereto agree
     that it would not be just and equitable if contribution pursuant to this
     Section 4.4 were determined solely by pro rata allocation (even if E-Z-EM
     or any underwriters, selling agents or placement agents or all of them were
     treated as one entity for such purpose) or by any other method of
     allocation which does not take account of the equitable considerations
     referred to in this Section 4.4. The amount paid or payable by an
     Indemnitee as a result of the losses, claims, damages or liabilities (or
     actions in respect thereof) referred to above shall be deemed to include
     any legal or other fees or expenses reasonably incurred by such Indemnitee
     in connection with investigating or defending any such action or claim. No
     Person guilty of fraudulent misrepresentation (within the meaning of
     Section 11(f) of the Securities Act) shall be entitled to contribution from
     any Person who was not guilty of such fraudulent misrepresentation. The
     obligations of E-Z-EM, the Company and any underwriters, selling agents or
     placement agents in this Section 4.4. to contribute shall be several in
     proportion to the number of Applicable Securities registered or
     underwritten or sold, as the case may be, by them and not joint.
     Notwithstanding any other provision of this Section 4.4, E-Z-EM shall not
     be required to contribute any amount in excess of the amount by which the
     net proceeds received by E-Z-EM from the sale of Common Stock pursuant to a
     Registration Statement or Offering Memorandum exceeds the amount of damages
     which E-Z-EM has otherwise been required to pay by reason of such untrue or
     alleged untrue statement or omission or alleged omission.

4.5  Other Provisions.

     (a)  The obligations of the Company under this ARTICLE 4 shall be in
          addition to any liability that it may otherwise have and shall extend,
          upon the same terms and conditions, to each Indemnified Person; and
          the obligations of E-Z-EM and any agents or underwriters contemplated
          by this ARTICLE 4 shall be in addition to any liability that E-Z-EM or
          its respective agent or underwriter may otherwise have and shall
          extend, upon the same terms and conditions, to each officer and
          director of the Company and to each Person, if any, who controls the
          Company within the meaning of either Section 15 of the Securities Act
          or Section 20 of the Exchange Act.

     (b)  The indemnities set forth in this ARTICLE 4 or made pursuant to this
          ARTICLE 4 shall remain in full force and effect, regardless of any
          investigation

                                       16

<PAGE>

          (or any statement as to the results thereof) made by or on behalf of
          E-Z-EM, any director, officer or partner of E-Z-EM, any agent or
          underwriter, any director, officer or partner of such agent or
          underwriter, or any Affiliate of any of the foregoing, and shall
          survive the registration, offering and sale of the Applicable
          Securities.

                                    ARTICLE 5

                               AUDITING PRACTICES

For so long as E-Z-EM is required or permitted in accordance with U.S. generally
accepted accounting principles to consolidate the Company's results of
operations and financial position in E-Z-EM's financial statements, the parties
agree as follows:

5.1  Selection of Auditors. Subject to requirements of law, the Company shall
     select the same firm as is selected by E-Z-EM to serve as the Company's
     (and its Subsidiaries', if any) independent certified public accountants
     (the "Company Auditors") for purposes of providing an opinion or report on
     its financial statements, unless E-Z-EM's shall provide a prior written
     consent to a change in the Company Auditors.

5.2  Date of Auditors' Opinion and Quarterly Reviews. The Company shall use its
     reasonable best efforts to enable the Company Auditors to complete their
     audit such that they will date their opinion or report on the Company's
     audited annual financial statements on the same date that E-Z-EM's
     independent certified public accountants (the "E-Z-EM Auditors") date their
     opinion on E-Z-EM's audited annual financial statements, and to enable
     E-Z-EM to meet its timetable for the printing, filing and public
     dissemination of E-Z-EM's annual financial statements. The Company shall
     use its reasonable best efforts to enable the Company Auditors to complete
     their quarterly review procedures on the Company's quarterly financial
     statements on the same date that the E-Z-EM Auditors complete their
     quarterly review procedures on E-Z-EM's quarterly financial statements.

5.3  Annual and Quarterly Financial Statements. The Company shall provide to
     E-Z-EM on a timely basis all information that E-Z-EM reasonably requires to
     meet its schedule for the preparation, printing, filing, and public
     dissemination of E-Z-EM's annual and quarterly financial statements.
     Without limiting the generality of the foregoing, the Company will provide
     all required financial information with respect to the Company and its
     Subsidiaries, if any, to the E-Z-EM Auditors in a sufficient and reasonable
     time and in sufficient detail to permit the Company Auditors to take all
     steps and perform all reviews necessary to provide sufficient assistance to
     the E-Z-EM Auditors with respect to financial information to be included or
     contained in E-Z-EM's annual and quarterly financial statements.

5.4  Identity of Personnel Performing the Annual Audit and Quarterly Reviews.
     The Company shall authorize the Company Auditors to make available to the
     E-Z-EM Auditors both the personnel who performed or will perform the annual
     audits and quarterly reviews of the Company's financial statements and work
     papers and other underlying documents related to the annual audits and
     quarterly reviews of the Company's financial statements, in all cases
     within a reasonable time prior to the Company Auditors' opinion date, so
     that the Company Auditors are able to assure the

                                       17

<PAGE>

     coordination of their activities with those of the E-Z-EM Auditors in order
     to achieve a proper review of matters affecting the consolidating or
     combining of accounts in E-Z-EM's financial statements, all within
     sufficient time to enable E-Z-EM to meet its timetable for the printing,
     filing and public dissemination of E-Z-EM's annual and quarterly
     statements.

5.5  Access to Books and Records. The Company shall provide E-Z-EM's internal
     auditors and their designees access to the Company's and its Subsidiaries'
     (if any) books and records so that E-Z-EM may conduct reasonable audits
     relating to the financial statements provided by the Company pursuant
     hereto as well as to the internal accounting controls and operations of the
     Company and such Subsidiaries. The Company shall also provide to E-Z-EM
     copies of all periodic reports and related documents the Company intends to
     file with the Securities and Exchange Commission prior to the Company
     causing such filings (as well as final copies upon filing).

5.6  No Change in Accounting Principles or Policies. The Company will not change
     its significant accounting policies for periods in which its financial
     results are included in E-Z-EM's consolidated financial statements unless
     the Company is required to do so to comply, in all material respects, with
     generally accepted accounting principles or SEC requirements from those in
     effect on the Payment Date (as defined in the Separation Agreement). In the
     event of any such change, the Company will consult with E-Z-EM and, if
     requested by E-Z-EM, the E-Z-EM Auditors with respect thereto.

5.7  Press Releases. The Company agrees to consult with E-Z-EM regarding the
     timing and content of its earnings releases.

                                    ARTICLE 6

                         OTHER COVENANTS OF THE PARTIES

6.1  No Discrimination. The Company hereby covenants and agrees that, for so
     long as the E-Z-EM Entities own at least 50% of the outstanding shares of
     Common Stock:

     (a)  the Company shall not, without the prior written consent of E-Z-EM
          (which it may withhold in its sole discretion), take, or cause to be
          taken, directly or indirectly, any action, including making or failing
          to make any election under the law of any state, which has the effect,
          directly or indirectly, of restricting or limiting the ability of
          E-Z-EM to freely sell, transfer, assign, pledge or otherwise dispose
          of Equity Securities or would restrict or limit the rights of any
          transferee of E-Z-EM as a holder of Equity Securities. Without
          limiting the generality of the foregoing, the Company shall not,
          without the prior written consent of E-Z-EM (which it may withhold in
          its sole discretion), (i) adopt or thereafter amend, supplement,
          restate, modify or alter any stockholder rights plan in any manner
          that would result in (a) the ownership of Equity Securities by E-Z-EM
          causing the rights thereunder to detach or become exercisable and/or
          (b) E-Z-EM and its transferees not being entitled to the same rights
          thereunder as other holders of the applicable Equity Securities or
          (ii) take any action, or take any action to recommend to its
          stockholders any action, which would among other things, limit the
          legal rights of, or deny any benefit to, E-Z-EM as a stockholder of
          the Company in a manner not applicable to the Company's stockholders
          generally

                                       18

<PAGE>

          without regard to the number of shares of Common Stock held by such
          stockholders; or

     (b)  the Company shall not, without the prior written consent of E-Z-EM
          (which it may withhold in its sole discretion), issue, sell and/or
          acquire any Equity Securities in the Company if it would cause E-Z-EM
          to own less than 50% of the then outstanding shares of Common Stock of
          the Company or otherwise result in a cumulative change of 50% or more
          in either the share ownership of the Company, or the voting power in
          the Company evidenced thereby, unless E-Z-EM obtains a private letter
          ruling from the Internal Revenue Service that such action will not
          have an adverse effect on the tax-free status of the Distribution.

6.2  Limitations on Subsequent Registration Rights. The Company shall not enter
     into any agreement with any holder or prospective holder of any Equity
     Securities of the Company that would allow such holder or prospective
     holder to include such Equity Securities in any Registration Station filed
     pursuant to Section 2.1 hereof, unless, under the terms of such agreement,
     such holder or prospective holder may include such Equity Securities in any
     such Registration Statement only to the extent that their inclusion would
     not reduce the amount of the Applicable Securities of E-Z-EM included
     therein.

6.3  Voting by E-Z-EM. E-Z-EM agrees that it will not vote its Equity Securities
     in the Company, and agrees to use all commercially reasonable efforts to
     cause all of the E-Z-EM Entities and E-Z-EM's other Subsidiaries to not
     vote their respective Equity Securities in the Company, whether at meetings
     of stockholders or, if permitted after an amendment to the Company's
     organizational documents, by written consent, so as to cause the Company to
     fail to (i) meet the eligibility standards for listing securities under the
     NASD Rules and the rules and regulations promulgated by the Commission and,
     without limiting the foregoing, (ii) to the extent required under the NASD
     Rules and the rules and regulations promulgated by the Commission, (A) have
     a majority of its Board of Directors comprised of "independent directors"
     and (B) have at least one independent director who satisfies the criteria
     for a "financial expert".

                                    ARTICLE 7

                                  MISCELLANEOUS

7.1  Termination. The term of ARTICLE 2 and ARTICLE 3 shall extend from the date
     hereof to the first date on which either (i) E-Z-EM and the other E-Z-EM
     Entities cease to hold in the aggregate at least 5% of Company's
     outstanding equity and voting power on a Fully Diluted Basis, excluding any
     securities acquired by them after the date hereof other than those acquired
     under ARTICLE 1 hereof or securities acquired as proceeds of the shares of
     common stock held by E-Z-EM and the other E-Z-EM Entities on the date
     hereof, or (ii) E-Z-EM and the other E-Z-EM Entities are permitted under
     Rule 144 under the Securities Act to sell all of their (collective) Equity
     Securities in the Company during one three-month period. The terms of
     ARTICLE 5 shall terminate at such time as E-Z-EM shall not be permitted to
     consolidate the Company within its financial statements in accordance with
     generally accepted accounting principles. This Agreement may not be
     terminated prior to such date without the consent of the parties hereto.

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<PAGE>

7.2  Specific Performance and Other Equitable Rights. Each of the parties hereto
     recognizes and acknowledges that a breach by a party or by any assignee
     thereof of any covenants or other commitments contained in this Agreement
     will cause the other party to sustain injury for which it would not have an
     adequate remedy at law for money damages. Therefore, each of the parties
     hereto agrees that in the event of any such breach, the aggrieved party
     shall be entitled to the remedy of injunctive and other equitable relief in
     addition to any other remedy to which it may be entitled, at law or in
     equity, and the parties hereto further agree to waive any requirement for
     the securing or posting of any bond in connection with the obtaining of any
     such injunctive or other equitable relief.

7.3  Assignment. No party to this Agreement may assign this Agreement, nor any
     of its rights or obligations under this Agreement, without the prior
     written consent of the other parties hereto, and any such purported
     assignment shall be null and void, except that the rights and obligations
     of E-Z-EM under this Agreement may be assigned by E-Z-EM without the
     consent of the Company to an E-Z-EM Entity. For greater certainty, the
     rights granted under ARTICLE 2 and ARTICLE 3 are not transferred upon the
     sale of the equity securities, but are separate contractual rights
     transferable to E-Z-EM Entities only, and only when the applicable E-Z-EM
     Entity receives Equity Securities in the Company.

7.4  Further Assurances. Each party shall provide (at the expense of the
     requesting party) such further documents or instruments reasonably
     requested by any other party as may be necessary or desirable to effect the
     purpose and intention of this Agreement and carry out its provisions.

7.5  Notices. All notices, requests, claims, demands and other communications
     hereunder shall be given in accordance with Section 7.4 of the Separation
     Agreement, except as otherwise expressly provided in this Agreement.

7.6  Reclassification, Reorganization, Merger, Etc. The rights and restrictions
     contained in this Agreement with respect to the Company's Common Stock
     apply to all of such Common Stock held on the date hereof by E-Z-EM and any
     Common Stock acquired in the future by any E-Z-EM Entity as proceeds of an
     exchange, reclassification, reorganization, stock split, dividend or any
     other change in the Company's capital structure.

7.7  Waivers and Amendments; Non-Contractual Remedies; Preservation of Remedies.
     This Agreement may be amended, superseded, cancelled, renewed or extended,
     and the terms hereof may be waived only by a written instrument signed by
     the parties or in the case of a waiver, by the party waiving compliance. No
     delay on the part of any party in exercising any right, power or privilege
     hereunder shall operate as a waiver thereof except as expressly provided
     herein. No waiver on the part of any party of any right, power or
     privilege, nor any single or partial exercise of any such right, power or
     privilege, shall preclude any further exercise thereof or the exercise of
     any other such right, power or privilege. The rights and remedies herein
     provided are cumulative and are not exclusive of any rights or remedies
     that any party may otherwise have at law or in equity.

7.8  Governing Law; Consent to Jurisdiction. This Agreement shall be governed by
     and construed in accordance with the laws of the State of New York (without
     giving effect to any conflict of laws principles). The parties hereto
     unconditionally and irrevocably agree and consent to the exclusive
     jurisdiction of the United States District Court and the courts

                                       20

<PAGE>

     of the State of New York located in the County of New York, State of New
     York, and waive any objection with respect thereto, for the purpose of any
     action, suit or proceeding arising out of or relating to this Agreement or
     the transactions contemplated hereby and further agree not to commence any
     such action, suit or proceeding except in any such court. Each party
     irrevocably waives any objections or immunities to jurisdiction to which it
     may otherwise be entitled or become entitled (including sovereign immunity,
     immunity to pre-judgment attachment, post-judgment attachment and
     execution) in any legal suit, action or proceeding against it arising out
     of or relating to this Agreement or the transactions contemplated hereby
     which is instituted in any such court.

7.9  No Third Party Beneficiaries; Binding Effect. Except for Indemnified
     Persons (who are intended third party beneficiaries of this Agreement) and
     as otherwise expressly provided herein, there shall be no third party
     beneficiaries hereto. all the terms and provisions of this Agreement shall
     be binding upon, shall inure to the benefit of and shall be enforceable by
     the respective legal successors and permitted assigns of the parties
     hereto.

7.10 Counterparts. This Agreement may be executed by the parties in separate
     counterparts, each of which when so executed and delivered shall be an
     original, but all such counterparts shall together constitute one and the
     same instrument. Each counterpart may consist of a number of copies hereof
     each signed by less than all, but together signed by all of the parties.

7.11 Headings. The headings in the Agreement are for reference only, and shall
     not affect the interpretation of this Agreement.

7.12 Severability. It is the intention of the parties that if any portion of
     this Agreement shall be deemed unenforceable, the remaining portions shall
     be valid and enforceable.

7.13 Time of Essence. Time is of the essence for each and every provision of
     this Agreement.

                                    ARTICLE 8

                                   DEFINITIONS

8.1  Definitions. Any capitalized terms that are used in this Agreement but not
     defined herein shall have the meanings set forth in the Separation
     Agreement, and, as used herein, the following terms shall have the
     following meanings:

     (a)  "Affiliate" or "Affiliates" has the meaning set forth in the
          Separation Agreement.

     (b)  "Applicable Securities" means in relation to a Registration Statement
          the Common Stock identified in the related Demand Notice or Piggy-back
          Notice and, in relation to an Offering Memorandum, the Common Stock
          identified in the related Unregistered Demand Notice.

     (c)  "Business Day" means any day other than a Saturday, a Sunday or a day
          on which banking institutions located in the State of New York are
          authorized or obligated by law or executive order to close.

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<PAGE>

     (d)  "Code" means the Internal Revenue Code of 1986.

     (e)  "Commission" means the Securities and Exchange Commission.

     (f)  "Distribution" has the meaning set forth in the Separation Agreement.

     (g)  "E-Z-EM Entities" means, collectively, every entity that is (i) a
          wholly-owned Subsidiary of E-Z-EM (other than the Company and its
          Subsidiaries, if any), (ii) an entity owning all of the capital stock
          of E-Z-EM or (iii) a wholly-owned Subsidiary of an entity owning all
          of the capital stock of E-Z-EM (other than the Company and its
          Subsidiaries, if any). "E-Z-EM Entity" refers to any one of the
          foregoing.

     (h)  "Equity Securities" means all classes of equity securities of the
          Company, and any options or other instruments or securities issued by
          the Company or any other Person that are exercisable for, convertible
          into or exchangeable for the Company's equity securities.

     (i)  "Exchange Act" means the Securities Exchange Act of 1934, as amended.

     (j)  "Fully Diluted Basis" means the number of shares of all classes of
          equity securities of the Company that would be outstanding assuming
          the exercise, conversion or exchange of all outstanding options and
          securities exercisable for, convertible into or exchangeable for the
          Company's equity securities.

     (k)  "Indemnified Person" has the meaning set forth in Section 4.1 hereof.

     (l)  "NASD Rules" means the rules and regulations promulgated by the
          National Association of Securities Dealers, Inc. and its affiliated
          companies, as well as any other rules and regulations governing
          Nasdaq. For purposes of this definition, "Nasdaq" means the Nasdaq
          Stock Market, except that with respect to the Company's remaining in
          compliance with listing standards, "Nasdaq" means the Nasdaq National
          Market.

     (m)  "Person" means and includes natural persons, corporations, limited
          partnerships, LLCs, general partnerships, joint stock companies, joint
          ventures, associations, companies, trusts or other organizations,
          whether or not legal entities, and governments and agencies and
          political subdivisions thereof.

     (n)  "Prospectus" means the prospectus (including, without limitation, any
          preliminary prospectus, any final prospectus and any prospectus that
          discloses information previously omitted from a prospectus filed as
          part of an effective Registration Statement in reliance upon Rule 430A
          under the Securities Act or any successor rule thereto) included in a
          Registration Statement, as amended or supplemented by any prospectus
          supplement with respect to the terms of the offering of any portion of
          the Applicable Securities covered by a Registration Statement and by
          all other amendments and supplements to such prospectus, including all
          material incorporated by reference in such prospectus and all
          documents filed after the date of such prospectus by the Company under
          the Exchange Act and incorporated by reference therein.

                                       22

<PAGE>

     (o)  "Registration" means a registration under the Securities Act effected
          pursuant to Section 2.1 or Section 2.2.

     (p)  "Registration Expenses" means all expenses incident to the
          Registration of Common Stock pursuant to this Agreement, including,
          without limitation, National Association of Securities Dealers, Inc.
          fees, all fees and expenses of complying with securities or blue sky
          laws, all word processing, duplicating and printing expenses,
          messenger and delivery expenses, the fees and disbursements of counsel
          for the Company and of its independent public accountants, including
          the expenses of any special audits or "comfort" letters required by or
          incident to such performance and compliance, premiums and other costs
          of policies of insurance obtained by the Company against liabilities
          arising out of the public offering of Common Stock being registered,
          but excluding fees and disbursements of counsel retained by E-Z-EM,
          premiums and other costs of policies of insurance obtained by E-Z-EM
          or its agents or underwriter against liabilities arising out of the
          public offering of the Common Stock being registered, all underwriting
          discounts and commissions and transfer taxes, if any, and registration
          and filing fees relating to the Common Stock being registered.

     (q)  "Registration Statement" means a registration statement filed under
          the Securities Act by the Company pursuant to the provisions of
          Section 2.1 or Section 2.2, including the Prospectus contained
          therein, any amendments and supplements to such registration
          statement, including post-effective amendments, all exhibits and all
          material incorporated by reference in such registration statement.

     (r)  "Securities Act" means the Securities Act of 1933, as amended.

     (s)  "Separation Agreement" means that certain Master Separation and
          Distribution Agreement dated the date hereof by and between E-Z-EM and
          the Company.

     (t)  "Subsidiary" means any corporation, association partnership, limited
          partnership, limited liability partnership, limited liability company,
          business trust or other business entity of which 50% or more of the
          total voting power of shares of stock entitled to vote in the election
          of directors, managers or trustees thereof is at the time owned or
          controlled, directly or indirectly, by the Company or one or more of
          the other Subsidiaries of the Company or a combination thereof.

8.2  Construction of Defined Terms Generally. In the event of a conflict between
     any provision of this Agreement and the Separation Agreement, the terms of
     the Separation Agreement shall govern. Any reference in this Agreement to
     another agreement or instrument shall be deemed to include such agreement
     or instrument as it may be amended, modified, restated and/or supplemented
     from time to time. References in this Agreement to any legislation
     (including for purposes of (i) below rules and regulations) shall be deemed
     to include, unless the context indicates to the contrary, (i) any
     amendments or supplemental or substitute legislation from time to time, and
     (ii) any "rules or regulations" promulgated under such legislation.
     References to the plural shall also be deemed to be a reference to the
     singular, and vice-versa, as the context may dictate.

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                                       23

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed on the date first above written.

     ANGIODYNAMICS, INC.

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

     E-Z-EM, INC.

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

                                       24

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