Document:

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                                                                EXHIBIT 10.32

                  SIXTH AMENDMENT TO CREDIT AGREEMENT AND WAIVER

         THIS SIXTH AMENDMENT TO CREDIT AGREEMENT AND WAIVER (this "AMENDMENT"),
dated as of May 31, 2000, is by and among INSIGHT HEALTH SERVICES CORP. (the
"BORROWER"), the subsidiaries of the Borrower identified on the signature
pages hereto (the "GUARANTORS"), the several lenders identified on the
signature pages hereto (each a "LENDER" and, collectively, the "LENDERS")
and BANK OF AMERICA, N.A., formerly NationsBank N.A., as agent for the
Lenders (in such capacity, the "AGENT").

                               W I T N E S S E T H

         WHEREAS, the Borrower, the Guarantors, the Lenders and the Agent
entered into that certain Credit Agreement dated as of October 14, 1997, as
amended by that First Amendment to Credit Agreement dated as of November 17,
1997, as amended by that Second Amendment to Credit Agreement dated as of
December 19, 1997, as amended by that Third Amendment to Credit Agreement
dated as of March 23, 1998, as amended by that Fourth Amendment and
Restatement of Credit Agreement dated as of June 12, 1998 and as amended by
that Fifth Amendment to Credit Agreement dated as of December 15, 1999 (as so
amended, the "EXISTING CREDIT AGREEMENT");

         WHEREAS, the Borrower and the Guarantors have requested that certain
provisions of the Existing Credit Agreement be amended; and

         WHEREAS, the parties have agreed to amend the Existing Credit
Agreement as set forth herein.

         NOW, THEREFORE, in consideration of the agreements hereinafter set
forth, and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties hereto agree as follows:

                                    PART 1
                                  DEFINITIONS

         SUBPART 1.1  CERTAIN DEFINITIONS.  Unless otherwise defined herein
or the context otherwise requires, the following terms used in this
Amendment, including its preamble and recitals, have the following meanings:

               "AMENDED CREDIT AGREEMENT" means the Existing Credit Agreement
         as amended hereby.

               "AMENDMENT NO. 6 EFFECTIVE DATE" is defined in Subpart 4.1.

               "WILKES-BARRE" means that certain outpatient medical diagnostic
         imaging center located at 150 Mundy Street, Wilkes-Barre,
         Pennsylvania.

                                     - 1 -

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         SUBPART 1.2  OTHER DEFINITIONS. Unless otherwise defined herein or
the context otherwise requires, terms used in this Amendment, including its
preamble and recitals, have the meanings provided in the Amended Credit
Agreement.

                                          PART 2
                         AMENDMENTS TO EXISTING CREDIT AGREEMENT

         Effective on (and subject to the occurrence of) the Amendment No. 6
Effective Date, the Existing Credit Agreement is hereby amended in accordance
with this PART 2. Except as so amended, the Existing Credit Agreement and all
other Credit Documents shall continue in full force and effect.

         SUBPART 2.1  AMENDMENTS TO SECTION 1.1.

               A.   The following definitions set forth in Section 1.1 of the
         Existing Credit Agreement are hereby amended in their entireties to
         read as follows:

                    "APPLICATION PERIOD", (i) in respect of any Asset
         Disposition by any Consolidated Party, shall have the meaning
         assigned to such term in Section 8.5 and (ii) in respect of any
         Asset Disposition by any Unrestricted Joint Venture which is a
         Restricted Subsidiary (as defined in the Subordinated Note Indenture),
         means 359 days following the consummation of such Asset Disposition.

                    "ASSET DISPOSITION" means (i) the disposition of any or
         all of the assets (including without limitation the Capital Stock of
         a Subsidiary) of any Consolidated Party, whether by sale, lease,
         transfer or otherwise, other than (a) the sale of inventory in the
         ordinary course of business for fair consideration, (b) the sale or
         disposition of machinery and equipment no longer used or useful in
         the conduct of such Person's business and (c) any Equity Issuance
         and (ii) any Asset Sale (as defined in the Subordinated Note
         Indenture).

                    "CENTRAL COAST" means St. John's Regional Medical Center,
         LLC, a California limited liability company.

                    "EXCLUDED ASSET DISPOSITION" means (i) any Asset
         Disposition by any Consolidated Party to any Credit Party if (a) the
         Credit Parties shall cause to be executed and delivered such
         documents, instruments and certificates as the Agent may request so
         as to cause the Credit Parties to be in compliance with the terms of
         Section 7.13 after giving effect to such Asset Disposition and (b)
         after giving effect such Asset Disposition, no Default or Event of
         Default exists and (ii) any transaction constituting a Permitted
         Investment.

                                     - 2 -

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                  "NET CASH PROCEEDS" means, with respect to any Person, the
              aggregate cash proceeds received by such Person in respect of
              any Asset Disposition, Equity Issuance or Debt Issuance, net of
              (a) direct costs (including, without limitation, legal,
              accounting and investment banking fees, and sales commissions),
              (b) taxes paid or payable as a result thereof and (c) amounts
              required to be paid to any Person (other than any Consolidated
              Party or Unrestricted Joint Venture) owning a beneficial
              interest in any assets that are subject to an Asset Disposition;
              it being understood that "Net Cash Proceeds" shall include,
              without limitation, any cash received upon the sale or other
              disposition of any non-cash consideration received by such
              Person in any Asset Disposition, Equity Issuance or Debt
              Issuance.

                  "PERMITTED INVESTMENTS" means Investments which are either
              (i) cash or Cash Equivalents; (ii) accounts receivable created,
              acquired or made by any Consolidated Party in the ordinary
              course of business and payable or dischargeable in accordance
              with customary trade terms; (iii) Investments consisting of
              Capital Stock, obligations, securities or other property
              received by any Consolidated Party in settlement of accounts
              receivable (created in the ordinary course of business) from
              bankrupt obligors; (iv) Investments existing as of the Closing
              Date and set forth in SCHEDULE 1.1B; (v) Guaranty Obligations
              permitted by Section 8.1; (vi) transactions permitted by Section
              8.9; (vii) advances or loans to directors, officers, employees,
              agents, customers or suppliers made in the ordinary course of
              business for reasonable business and which do not exceed
              $1,000,000 in the aggregate at any one time outstanding for all
              of the Consolidated Parties; (viii) Investments in any Credit
              Party; (ix) Permitted Acquisitions; (x) Investments in Joint
              Ventures not to exceed $25,000,000 and (xi) the purchase of
              Eligible Assets with the proceeds of any Asset Disposition as
              contemplated by Section 8.5.

                  "RESTRICTED JOINT VENTURE" means any Joint Venture in
              existence on the Closing Date and identified on SCHEDULE 1.1A.

                  "SUBSIDIARY" means, as to any Person at any time, (a) any
              corporation more than 50% of whose Capital Stock of any class or
              classes having by the terms thereof ordinary voting power to
              elect a majority of the directors of such corporation
              (irrespective of whether or not at such time, any class or
              classes of such corporation shall have or might have voting
              power by reason of the happening of any contingency) is at such
              time owned by such Person directly or indirectly through
              Subsidiaries, and (b) any partnership, association, joint
              venture or other entity of which such Person directly or
              indirectly through Subsidiaries owns at such time more than 50%
              of the Capital Stock; PROVIDED, HOWEVER, that the term
              "Subsidiary" (i) shall not include any Unrestricted Joint
              Venture and (ii) shall include Wilkes-Barre Imaging, LLC.

                                   - 3 -

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                  "UNRESTRICTED JOINT VENTURE" means any Joint Venture which
              is not a Restricted Joint Venture; PROVIDED, HOWEVER, the term
              "Unrestricted Joint Venture" shall not include Wilkes-Barre
              Imaging, LLC.

              B.  Clause (xiii) appearing in the definition of "Permitted
       Liens" appearing in Section 1.1 of the Existing Credit Agreement is
       hereby amended in its entirety to read as follows:

              (xiii) Liens on any Property owned by any Subsidiary of the
              Borrower which is a Restricted Joint Venture;

       SUBPART 2.2  AMENDMENTS TO SECTION 1.3  Section 1.3 of the Existing
Credit Agreement is amended in its entirety to read as follows:

              1.3 ACCOUNTING TERMS.

                  Except as otherwise expressly provided herein, all
              accounting terms used herein shall be interpreted, and all
              financial statements and certificates and reports as to
              financial matters required to be delivered to the Lenders
              hereunder shall be prepared, in accordance with GAAP applied on
              a consistent basis. All calculations made for the purposes of
              determining compliance with this Credit Agreement (i) shall
              (except as otherwise expressly provided herein) be made by
              application of GAAP applied on a basis consistent with the most
              recent annual or quarterly financial statements delivered
              pursuant to Section 7.1 (or, prior to the delivery of the first
              financial statements pursuant to Section 7.1, consistent with
              the financial statements as at June 30, 1997) but, in any event,
              after elimination for minority interests; PROVIDED, HOWEVER, if
              (a) the Borrower shall object to determining such compliance on
              such basis at the time of delivery of such financial statements
              due to any change in GAAP or the rules promulgated with respect
              thereto or (b) the Agent or the Required Lenders shall so object
              in writing within 60 days after delivery of such financial
              statements, then such calculations shall be made on a basis
              consistent with the most recent financial statements delivered
              by the Borrower to the Lenders as to which no such objection
              shall have been made, and (ii) shall exclude income statement
              items (whether positive or negative) attributable to ownership
              interests held by any Consolidated Party in any Unrestricted
              Joint Venture.

                  Notwithstanding the above, the parties hereto acknowledge
              and agree that, for purposes of all calculations made under the
              financial covenants set forth in Section 7.11 (including without
              limitation for purposes of the definitions of "Applicable
              Percentage" and "Pro Forma Basis" set forth in Section 1.1),
              (i)(A) income statement items (whether positive or negative)
              attributable to the Property disposed of in any Asset
              Disposition as contemplated by Section 8.5 or to any Operating
              Leases of

                                   - 4 -

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          GE Financed Machinery which were converted into Capital
          Leases, as applicable, shall be excluded to the extent
          relating to any period occurring prior to the date of
          such transaction, (B) Indebtedness which is retired in
          connection with any such Asset Disposition shall be
          excluded and deemed to have been retired as of the first
          day of the applicable period and (C) for purposes of
          calculating interest expense, Indebtedness attributable
          to Capital Leases which were formerly Operating Leases of
          GE Financed Machinery shall be deemed to have been
          incurred on the first day of the applicable period and if
          such Indebtedness has a floating or formula rate, such
          Indebtedness shall have an implied rate of interest for
          the applicable period determined by utilizing the rate
          which is or would be in effect with respect to such
          Indebtedness as at the relevant date of determination,
          and (ii) income statement items (whether positive or
          negative) attributable to any Property acquired in any
          Investment transaction (including without limitation any
          Permitted Acquisition) contemplated by Section 8.6 shall
          be included to the extent relating to any period
          applicable in such calculations occurring after the date
          of such transaction (and, notwithstanding the foregoing,
          during the first four fiscal quarters following the date
          of such transaction, shall be included on an annualized
          basis).

    SUBPART 2.3 AMENDMENTS TO SECTION 6.13. The first sentence of Section
6.13 of the Existing Credit Agreement is hereby amended in its entirety to
read as follows:

          Set forth on SCHEDULE 6.13 is a complete and accurate list of all
          Subsidiaries of each Consolidated Party and all Unrestricted Joint
          Ventures of each Consolidated Party.

    SUBPART 2.4 AMENDMENTS TO SECTIONS 7.12, 7.13, 8.7, 8.8, 8.12 AND 8.15.
The clause "which is not a Joint Venture" as it appears in Sections 7.12,
7.13, 8.7, 8.8, 8.12 and 8.15 of the Existing Credit Agreement is amended in
its entirety in each such Section to read "which is not a Restricted Joint
Venture".

    SUBPART 2.5 AMENDMENTS TO SECTION 7.14. The clause "Joint Ventures" as it
appears in Section 7.14 of the Existing Credit Agreement is amended in its
entirety each time it appears in such Section to read "Restricted Joint
Ventures".

    SUBPART 2.6 AMENDMENTS TO SECTION 8.1(c). Section 8.1(c) of the Existing
Credit Agreement is amended in its entirety to read as follows:

    8.1   INDEBTEDNESS.

          The Credit Parties will not permit any Consolidated Party to
contract, create, incur, assume or permit to exist any Indebtedness, except:

                                     ************

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              (c)(i) purchase money Indebtedness (including Capital Leases
          and Synthetic Leases) hereafter incurred by any Consolidated Party
          which is not a Restricted Joint Venture other than Open MRI or
          Central Coast to finance the purchase of fixed assets PROVIDED that
          (A) the total of all such Indebtedness for all such Persons taken
          together shall not exceed an aggregate principal amount of
          $10,000,000 (excluding any such Indebtedness of any Consolidated
          Party other than Open MRI or Central Coast referred to in
          subsection (b) above) at any one time outstanding; (B) such
          Indebtedness when incurred shall not exceed the purchase price of
          the asset(s) financed; and (C) no such Indebtedness shall be
          refinanced for a principal amount in excess of the principal
          balance outstanding thereon at the time of such refinancing;

              (ii)  purchase money Indebtedness (including Capital Leases and
          Synthetic Leases) hereafter incurred by Open MRI to finance the
          purchase of fixed assets PROVIDED that (A) the total outstanding
          principal of all such Indebtedness (including any such Indebtedness
          of Open MRI referred to in subsection (b) above), taken together
          with the aggregate original equipment cost of all Property leased
          by Open MRI under Operating Leases, shall not exceed at any time an
          aggregate principal amount of $20,000,000; (B) such Indebtedness
          when incurred shall not exceed the purchase price of the asset(s)
          financed; and (C) no such Indebtedness shall be refinanced for a
          principal amount in excess of the principal balance outstanding
          thereon at the time of such refinancing;

              (iii) purchase money Indebtedness (including Capital Leases and
          Synthetic Leases) hereafter incurred by Central Coast to finance
          the purchase of fixed assets PROVIDED that (A) the total
          outstanding principal of all such Indebtedness shall not exceed at
          any time an aggregate principal amount of $6,000,000 (including any
          such Indebtedness of Central Coast referred to in subsection (b)
          above); (B) such Indebtedness when incurred shall not exceed the
          purchase price of the asset(s) financed; and (C) no such
          Indebtedness shall be refinanced for a principal amount in excess
          of the principal balance outstanding thereon at the time of such
          refinancing;

              (iv)  obligations of the Credit Parties (other than Open MRI)
          arising under Capital Leases with respect to the GE Financed
          Machinery; PROVIDED that (A) the total outstanding principal of all
          such Indebtedness shall not exceed at any time an aggregate
          principal amount of $57,300,000; (B) such Indebtedness when
          incurred shall not exceed the purchase price of the asset(s)
          financed; and (C) no such Indebtedness shall be refinanced for a
          principal amount in excess of the principal balance outstanding
          thereon at the time of such refinancing;

    SUBPART 2.7 AMENDMENTS TO SECTIONS 8.16(a) AND 8.18. The clause "which
are not Joint Ventures" as it appears in Sections 8.16(a) and 8.18 of the
Existing Credit Agreement is amended in its entirety in each such Section to
read "which are not Restricted Joint Ventures".

<PAGE>

                                     PART 3
              CERTAIN WAIVERS REGARDING ACQUISITION OF WILKES-BARRE

     Solely with respect to the Acquisition of Wilkes-Barre by InSight Health
Corp., the Required Lenders agree as follows:

          (a) The requirement that the maximum amount of proceeds of
     Acquisition Loans used to finance the Acquisition of Wilkes-Barre not
     exceed $15,000,000, as set forth in clause (vii) of the definition of
     "Permitted Acquisition" appearing in Section 1.1 of the Amended Credit
     Agreement, is hereby waived.

          (b) Notwithstanding anything to the contrary contained in the
     Amended Credit Agreement (including, without limitation, Sections 8.5 and
     8.12), in connection with and as partial consideration for the
     Acquisition of Wilkes-Barre, Wilkes-Barre Imaging, LLC shall be permitted
     to issue or transfer shares of its Capital Stock to Roy Assael in an
     amount not to exceed 10% of the total outstanding Capital Stock of
     Wilkes-Barre Imaging, LLC (the "Minority Interest"). Furthermore, (i) any
     requirement that the Credit Parties prepay the Loans pursuant to Section
     3.3(b)(v) in connection with the issuance of such Capital Stock to Roy
     Assael is hereby waived and (ii) notwithstanding anything to the contrary
     contained in Section 7.12, Section 7.13 or any of the Collateral
     Documents, any requirement that the Minority Interest be pledged as
     Collateral to secure the Credit Party Obligations is waived for so long
     as such Minority Interest is not held by a Credit Party.

                                     PART 4
                          CONDITIONS TO EFFECTIVENESS

     SUBPART 4.1 AMENDMENT NO. 6 EFFECTIVE DATE. This Amendment shall be and
become effective as of the date hereof (the "AMENDMENT NO. 6 EFFECTIVE DATE")
when all of the conditions set forth in this PART 4 shall have been satisfied,
and thereafter this Amendment shall be known, and may be referred to, as
"AMENDMENT NO. 6."

     SUBPART 4.2 EXECUTION OF COUNTERPARTS OF AMENDMENT. The Agent shall have
received counterparts (or other evidence of execution, including telephonic
message, satisfactory to the Agent) of this Amendment, which collectively
shall have been duly executed on behalf of each of the Borrower, the
Guarantors and the Required Lenders.

     SUBPART 4.3 AMENDMENT FEE. The Agent shall have received for the account
of each Lender approving this Amendment an amendment fee equal to 0.125% of
each such Lender's Commitment.

     SUBPART 4.4 OTHER ITEMS. The Agent shall have received such other
documents, agreements or information which may be reasonably requested by the
Agent.

                                      -7-

<PAGE>

                                     PART 5
                                 MISCELLANEOUS

     SUBPART 5.1 REPRESENTATIONS AND WARRANTIES. Borrower hereby represents
and warrants to the Agent and the Lenders that (a) after giving effect to this
Amendment, (i) no Default or Event of Default exists under the Credit
Agreement or any of the other Credit Documents and (ii) the representations
and warranties set forth in Section 6 of the Amended Credit Agreement are,
subject to the limitations set forth therein, true and correct in all material
respects as of the date hereof (except for those which expressly relate to an
earlier date) and (b) the transactions contemplated in this Amendment are not
prohibited by the Subordinated Note Indenture (as in effect immediately prior
to the Amendment No. 6 Effective Date.

     SUBPART 5.2 REAFFIRMATION OF CREDIT PARTY OBLIGATIONS. Each Credit Party
hereby ratifies the Credit Agreement and acknowledges and reaffirms (i) that
it is bound by all terms of the Credit Agreement and (ii) that it is
responsible for the observance and full performance of the Credit Party
Obligations.

     SUBPART 5.3 CROSS-REFERENCES. References in this Amendment to any Part or
Subpart are, unless otherwise specified, to such Part or Subpart of this
Amendment.

     SUBPART 5.4 INSTRUMENT PURSUANT TO EXISTING CREDIT AGREEMENT. This
Amendment is a Credit Document executed pursuant to the Existing Credit
Agreement and shall (unless otherwise expressly indicated therein) be
construed, administered and applied in accordance with the terms and
provisions of the Existing Credit Agreement.

     SUBPART 5.5 REFERENCES IN OTHER CREDIT DOCUMENTS. At such time as this
Amendment No. 6 shall become effective pursuant to the terms of SUBPART 4.1,
all references in the Existing Credit Documents to the "Credit Agreement"
shall be deemed to refer to the Credit Agreement as amended by this Amendment
No. 6.

     SUBPART 5.6 COUNTERPARTS. This Amendment may be executed by the parties
hereto in several counterparts, each of which shall be deemed to be an
original and all of which shall constitute together but one and the same
agreement.

     SUBPART 5.7 GOVERNING LAW. THIS AMENDMENT SHALL BE DEEMED TO BE A
CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK.

     SUBPART 5.8 SUCCESSORS AND ASSIGNS. This Amendment shall be binding upon
and inure to the benefit of the parties hereto and their respective successors
and assigns.

        [The remainder of this page has been left blank intentionally]

                                      -8-

<PAGE>

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

BORROWER:                          INSIGHT HEALTH SERVICES CORP.

                                   By:     /s/ Thomas V. Croal
                                      -------------------------------------
                                   Name:   Thomas V. Croal
                                   Title:  Executive Vice President,
                                           Chief Financial Officer

GUARANTORS:                        INSIGHT HEALTH CORP.
                                   RADIOLOGY SERVICES CORP.
                                   OPEN MRI, INC.
                                   MAXUM HEALTH CORP.
                                   RADIOSURGERY CENTERS, INC.
                                   QUEST FINANCIAL SERVICES, INC.
                                   MAXUM HEALTH SERVICES CORP.
                                   DIAGNOSTIC SOLUTIONS CORP.
                                   MAXUM HEALTH SERVICES
                                       OF NORTH TEXAS, INC.
                                   MAXUM HEALTH SERVICES
                                       OF ARLINGTON, INC.
                                   MAXUM HEALTH SERVICES
                                       OF DALLAS, INC.
                                   NDDC, INC.
                                   SIGNAL MEDICAL SERVICES, INC.
                                   MISSISSIPPI MOBILE TECHNOLOGY, INC.

                                   By:     /s/ Thomas V. Croal
                                      -------------------------------------
                                   Name:   Thomas V. Croal
                                   Title:  Executive Vice President,
                                           Chief Financial Officer

                                   [Signatures Continue]

SIXTH AMENDMENT
INSIGHT HEALTH SERVICES CORP.

<PAGE>

LENDERS:                           BANK OF AMERICA, N.A. formerly NationsBank,
                                   N.A., individually in its capacity as a
                                   Lender and in its capacity as Agent

                                   By:    /s/ Scott Singhoff
                                      ----------------------------------------
                                   Name:  Scott Singhoff
                                   Title: Managing Director

                                   THE BANK OF NOVA SCOTIA

                                   By:    /s/ R.P. Reynolds
                                      ----------------------------------------
                                   Name:  R.P. Reynolds
                                   Title: Director

                                   FLEET NATIONAL BANK

                                   By:    /s/ Walter J. Marullo
                                      ----------------------------------------
                                   Name:  Walter J. Marullo
                                   Title: Vice President

                                   PARIBAS

                                   By:    /s/ Sean T. Conlon
                                      ----------------------------------------
                                   Name:  Sean T. Conlon
                                   Title: Managing Director

                                   By:    /s/ Eric Voravong
                                      ----------------------------------------
                                   Name:  Eric Voravong
                                   Title: Vice President

                                   COOPERATIEVE CENTRALE RAIFFEISEN-
                                   BOERENLEINBANK B.A., "RABOBANK
                                   NEDERLAND"

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

                                   [Signatures Continue]

SIXTH AMENDMENT
INSIGHT HEALTH SERVICES CORP.

<PAGE>

                                   BHF (USA) CAPITAL CORPORATION

                                   By:     /s/ Dan Dobrjanskyj
                                      ----------------------------------------
                                   Name:   Dan Dobrjanskyj
                                   Title:  Assistant Vice President

                                   By:     /s/ Richard Cameron
                                      ----------------------------------------
                                   Name:   Richard Cameron
                                   Title:  Vice President

                                   DRESDNER BANK AG. NEW YORK BRANCH AND
                                   GRAND CAYMAN BRANCH

                                   By:     /s/ A. Nesi
                                      ----------------------------------------
                                   Name:   A. Nesi
                                   Title:  First Vice President

                                   By:     /s/ D. A. Ritzier
                                      ----------------------------------------
                                   Name:   Debra A. Ritzier
                                   Title:  Assistant Vice President

                                   IMPERIAL BANK, A CALIFORNIA BANKING
                                   CORPORATION

                                   By:     /s/ R. Vadalma
                                      ----------------------------------------
                                   Name:   Ray Vadalma
                                   Title:  Senior Managing Director

                                   UNION BANK OF CALIFORNIA, N.A.

                                   By:     /s/ Ronald A. Launsbach
                                      ----------------------------------------
                                   Name:   Ronald A. Launsbach
                                   Title:  Vice President

                                   BANK POLSKA KASA OPIEKA, S.A.

                                   By:     /s/ Barry W. Henry
                                      ----------------------------------------
                                   Name:   Barry W. Henry
                                   Title:  Vice President
                                           Senior Lending Officer

SIXTH AMENDMENT
INSIGHT HEALTH SERVICES CORP.<PAGE>

                                                                    EXHIBIT 4.9

THESE SECURITIES (INCLUDING ANY UNDERLYING SECURITIES) HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE
SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE
ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER
SAID ACT OR AN OPINION OF COUNSEL OR OTHER EVIDENCE SATISFACTORY TO THE
COMPANY THAT SUCH REGISTRATION SHALL NO LONGER BE REQUIRED.

                        AIRTECH INTERNATIONAL GROUP, INC.
                            12% CONVERTIBLE DEBENTURE
                                    DUE 2005

$_________________                         Issuance Date: ________________, 2000
Dallas, Texas

        1.     CONSIDERATION. FOR VALUE RECEIVED, AIRTECH INTERNATIONAL
GROUP, INC. a Wyoming corporation (the "Company"), hereby promises to pay to
the order of _________________, at its offices located at
______________________ or at such other place as the holder hereof (the
"Registered Holder") shall designate to the Company in writing, in lawful
money of the United States of America, the principal amount of
_____________________________ Dollars ($__________) on January ___, 2005 (the
"Maturity Date"). The Company promises to pay the said principal sum and all
accrued interest thereon in accordance with the terms of this Debenture.

        2.     PAYMENTS OF PRINCIPAL AND INTEREST. The Company shall pay
interest on the principal sum of this Debenture at the rate of 12% per annum
from the Issuance Date set forth above (the "Issuance Date"). Interest shall
be due and payable semiannually on the first days of September and March
commencing September 1, 2000. The principal sum of this Debenture together
with all unpaid accrued interest thereon shall be fully and finally due and
payable on the Maturity Date. Notwithstanding the foregoing, the Company may,
at its sole option and in accordance with Section 7 hereof, force conversion
of the outstanding principal sum of this Debenture, including all unpaid
accrued interest thereon, into shares of the Company's common stock, $0.05
par value per share (the "Common Stock"), in full and final payment of this
Debenture on the Maturity Date. Principal and interest shall be payable at
the last address of the Registered Holder as it appears on the registration
books of the Company.

        3.     PAST DUE PAYMENTS. Interest on the indebtedness evidenced by
this Debenture after default or maturity accelerated or otherwise shall be
due and payable at the rate of twelve (12%) percent per annum, subject to the
limitations of applicable usury laws.

        4.     HOLIDAYS. If any payment of principal or interest on this
Debenture becomes due and payable on a Saturday, Sunday or public holiday
under the laws of the State of Texas, the due date for such payment shall be
extended to the next succeeding business day and interest shall be

<PAGE>

payable at the rate of twelve (12%) percent per annum during such extension.
All payments received by the Registered Holder shall be applied first to the
payment of all accrued interest payable hereunder.

        5.     ISSUANCE OF DEBENTURES. This Debenture has been issued by the
Company pursuant to the authorization of the Board of Directors of the
Company (the "Board") and pursuant to a Private Placement Memorandum, dated
as of January 1, 2000 (the "Placement Memorandum"). Pursuant to the Placement
Memorandum, the Company also issued to the Registered Holder warrants to
purchase ____ shares of the Company's Common Stock at an exercise price equal
to $2.00 per share. The rights of the Registered Holder relating to the
Warrants are set forth in a separate Warrant of even date herewith executed
by the Company in from of the Registered Holder. By acceptance of this
Debenture, the Registered Holder of this Debenture represents and warrants to
the Company as follows:

               (a) the Registered Holder has carefully reviewed the Placement
Memorandum and all other relevant information furnished to the Registered
Holder such that the Registered Holder understands the risk of, and other
considerations relating to, an investment in the Company;

               (b) the Registered Holder has been furnished all materials
requested by the Registered Holder relating to the Company and has been
afforded the opportunity to obtain any additional information deemed
necessary by the Registered Holder about the Company and the Company's
proposed business activities; and

               (c) the Company has satisfactorily answered all inquiries made
by the Registered Holder concerning the Company and the Company's proposed
business activities.

        6.     CONVERSION.

               (a) Subject to and in compliance with the provisions of this
Section 6, the Registered Holder shall have the right at any time to convert all
or a portion of the outstanding principal sum of this Debenture, including any
unpaid accrued interest thereon, into such number of shares of the Company's
Common Stock equal to the quotient obtained by dividing (x) the principal sum,
plus any unpaid accrued interest thereon, of this Debenture to be converted by
(y) One Dollar ($1.00) (the "Conversion Price") and by surrender of this
Debenture to the Company, such surrender to be made in the manner provided in
this Section 6.

               (b) In order to exercise the conversion right described in
Section 6(a), the Registered Holder shall surrender this Debenture to the
Company, at the address of the Company set forth in Section 23 hereof,
accompanied by a duly executed Notice of Conversion in the form attached to
this Debenture. Unless the shares issuable on conversion are to be issued in
the same name as the name in which this Debenture is registered, this
Debenture shall be accompanied by instruments of transfer, in form reasonably
satisfactory to the Company, duly executed by the Registered Holder or the
Registered Holder's duly authorized agent.

                                       2

<PAGE>

               (c) As promptly as practicable after the surrender of this
Debenture, the Company shall issue and shall deliver (or shall cause the
issuance and delivery) to the Registered Holder, or on written order of the
Registered Holder, a certificate or certificates for the number of shares of
Common Stock issuable upon the conversion of this Debenture in accordance
with the provisions of this Section 6. Any fractional interest in respect of
a share of Common Stock arising upon conversion shall be settled as provided
in Section 8(b) hereof. Each conversion shall be deemed to have been effected
immediately prior to the close of business on the date on which this
Debenture shall have been surrendered and the Notice of Conversion received
by the Company, and the person or persons in whose name or names any
certificate or certificates for shares of Common Stock shall be issuable upon
such conversion shall be deemed to have become the holder or holders of
record of the shares represented thereby at such time and on such date.

               (d) If the entire outstanding principal amount of this
Debenture is not converted, the Company shall also issue and deliver to the
Registered Holder a new Debenture of like tenor in the principal sum equal to
the principal which was not converted and dated the Issuance Date.

        7.     MANDATORY CONVERSION BY THE COMPANY.

               (a) On the Maturity Date, the Company shall have the right, at
its sole option, to convert all or any portion of the principal sum of this
Debenture, including any unpaid accrued interest thereon, into shares of the
Company's Common Stock. The number of shares of Common Stock issuable to the
Registered Holder upon conversion shall be equal to the quotient obtained by
dividing (x) the principal sum, plus any unpaid accrued interest thereon, of
this Debenture to be converted by (y) the Conversion Price. If the Company
elects to convert less than the principal sum plus accrued interest due on
this Debenture on the Maturity Date, the Company shall pay any remaining
amounts due to the Registered Holder in cash or other immediately available
funds.

               (b) In order to exercise the conversion right described in
Section 7(a), the Company shall deliver to the Registered Holder at least ten
(10) days prior to the Maturity Date a notice of the Company's intent to
convert the Debentures (the "Mandatory Conversion Notice"). The Mandatory
Conversion Notice shall set forth the amount of this Debenture to be
converted into Common Stock, the number of shares of Common Stock to be
issued to the Registered Holder upon conversion and the amount of any
additional cash payments owed to the Registered Holder, if any. The Mandatory
Conversion Notice shall also set forth the name and address of an
unaffiliated escrow agent selected by the Company (the "Escrow Agent") who
shall be responsible for delivering any shares of Common Stock or cash
payments to the Registered Holder against delivery of this Debenture by the
Registered Holder.

               (c) On or before the Maturity Date, the Company shall issue
and deliver (or shall cause the issuance and delivery) to the Escrow Agent a
certificate in the name of the Registered Holder for the number of shares of
Common Stock issuable upon the conversion of this Debenture in accordance
with the provisions of this Section 7. The certificate shall be accompanied
by a cashiers check payable to the Registered Holder in the amount of any
additional cash payments owed to the Registered Holder, if any. Any
fractional interest in respect of a share of Common Stock arising upon
conversion shall be settled as provided in Section 8(b) below. The Company
will

                                       3

<PAGE>

instruct the Escrow Agent to deliver any share certificates or cash payments
to the Registered Holder only upon receipt by the Escrow Agent of their
Debenture at the address of the Escrow Agent set forth in the Mandatory
Conversion Notice. A conversion pursuant to this Section 7 shall be deemed
effective as of the Maturity Date and the Registered Holder shall be deemed
the holder of record of the shares of Common Stock issued in the conversion
on the Maturity Date.

               (d) Upon the timely delivery by the Company of the appropriate
stock certificates and cash payments required by the provisions of this
Section 7, this Debenture shall cease to bear interest as of the Maturity
Date.

        8.     ISSUANCE OF COMMON STOCK ON CONVERSION.

               (a) All shares of Common Stock delivered upon conversion of
this Debenture will, upon delivery, be duly authorized, validly issued and
fully paid and nonassessable.

               (b) No fractional shares of Common Stock shall be issued upon
conversion of this Debenture. Instead of any fractional share of Common Stock
which would otherwise be deliverable upon the conversion of this Debenture,
the Company shall pay to the holder an amount in cash (computed to the
nearest cent) equal to the Conversion Price multiplied by the fraction of a
share of Common Stock represented by such fractional interest.

               (c) The issuance of certificates for shares of Common Stock
upon any conversion of this Debenture shall be made without charge to the
payee hereof for any tax, unless required by law, or other expense in respect
to the issuance of such certificates, all of which taxes and expenses shall
be paid by the Company, and such certificates shall be issued only in the
name of the Registered Holder of this Debenture.

        9.     REDEMPTION BY THE COMPANY.

               (a) The Company shall have the right, only with the consent of
the Registered Holder, to redeem some or all of the principal amount of this
Debenture prior to the Maturity Date, upon payment of the following
redemption prices together with accrued interest to the date of redemption:

<TABLE>
<CAPTION>

               IF REDEEMED DURING THE
               12-MONTH PERIOD BEGINNING        % OF PRINCIPAL AMOUNT
               -------------------------        ---------------------
               <S>                              <C>
               January 1, 2000                          110%
               January 1, 2001                          108%
               January 1, 2002                          106%
               January 1, 2003                          104%
               January 1, 2004                          102%
</TABLE>

               (b) Prior to redemption, the Company will notify the
Registered Holder of this Debenture of its intent to redeem and of the
redemption date (the "Redemption Date") at least thirty

                                       4

<PAGE>

(30) days prior to the Redemption Date. Notice shall be sent by registered
mail to the last address of the Registered Holder as it appears on the
registration books of the Company.

               (c) If the Registered Holder fails or neglects to present this
Debenture for payment within twenty (20) days after the Redemption Date, this
Debenture shall cease to bear interest and the redemption price of this
Debenture shall be deemed to be 100% of face value.

        10.    COVENANTS.

               (a) The Company will at no time close its stock transfer books
against the transfer of any shares of Common Stock issued or issuable upon
the conversion of this Debenture, in any manner which interferes with the
timely conversion of this Debenture.

               (b) The Company will not, by amendment of its Articles of
Incorporation or Bylaws or through any reorganization, recapitalization,
transfer of assets, consolidation, merger, dissolution, issue or sale of
securities or any other voluntary action, avoid or seek to avoid the
observance or performance of any of the terms to be observed or performed
under this Debenture by the Company, and will at all times assist in good
faith in the carrying out of all the provisions of this Debenture and in the
taking of all such action as may be necessary or appropriate in order to
protect the conversion rights of the Registered Holder of this Debenture
against impairment.

        11.    LIMITATION ON CERTAIN CORPORATE ACTS.  The Company hereby
covenants and agrees that upon any consolidation or merger or upon the
transfer of all or substantially all of the property or assets of the
Company, the due and punctual payment of the principal and interest on this
Debenture according to its tenor and the due and punctual performance and
observance of all the terms, covenants and conditions of this Debenture to be
kept and performed by the Company shall be expressly assumed by the
corporation formed by such consolidation, or into which the Company shall
have merged or by the purchaser of such property or assets; and such
assumption shall be an express condition of such merger or consolidation
agreement or agreement for the transfer of property or assets.

        12.    EVENTS OF DEFAULT. The term "Event of Default", as used in
this Debenture, means the occurrence of any one or more of the following
events:

               (a) default in the due and punctual payment of interest upon
or principal of this Debenture as and when the same becomes due and payable
either at maturity or otherwise; or

               (b) failure to deliver to the Registered Holder shares of
Common Stock required to be delivered upon conversion of this Debenture in
the manner required by Section 6 hereof; or

               (c) failure of the Company to have authorized the number of
shares of Common Stock issuable upon conversion of this Debenture; or

               (d) failure on the part of the Company to duly observe or
perform any of its other covenants or agreements contained in, or to cure any
material breach in a material representation or

                                       5

<PAGE>

covenant contained in this Debenture for a period of ten (10) days after the
date on which written notice of such failure or breach requiring the same to
be remedied has been given by the Registered Holder to the Company; or

               (e) a decree or order by a court having jurisdiction has been
entered adjudging the Company bankrupt or insolvent, or approving a petition
seeking reorganization of the Company under any applicable bankruptcy law and
such decree or order has continued undischarged or unstayed for a period of
thirty (30) days; or a decree or order of a court having jurisdiction for the
appointment of a receiver or liquidator or trustee or assignee in bankruptcy
or insolvency of the Company or of all or substantially all of its property,
or for the winding-up or liquidation of its affairs, has been entered, and
has remained in force undischarged or unstayed for a period of thirty (30)
days; or

               (f) the Company institutes proceedings to be adjudicated a
voluntary bankrupt, or consents to the filing of a bankruptcy proceeding
against it, or files a petition or answer or consent seeking reorganization
under applicable law, or consents to the filing of any such petition or to
the appointment of a receiver or liquidator or trustee or assignee in
bankruptcy or insolvency of it or of all or substantially all of its
property, or makes an assignment for the benefit of creditors, or admits in
writing its inability to pay its debts generally as they become due; or if
the Company shall suffer any writ of attachment or execution or any similar
process to be issued or levied against it or any significant part of its
property which is not released, stayed, bonded or vacated within thirty (30)
days after its issue or levy; or if the Company takes corporate action in
furtherance of any of the aforesaid purposes or conditions.

If any Event of Default shall have occurred and remained uncured beyond the
applicable grace period, other than an Event of Default specified in clauses
(e) and (f) above, the Registered Holder of this Debenture, by notice in
writing to the Company, may declare the principal of this Debenture and the
interest accrued thereon, if not already due and payable, to be due and
payable immediately, and upon any such declaration the same shall become and
shall be immediately due and payable, anything herein contained to the
contrary notwithstanding. Upon the occurrence of an Event of Default
specified in clauses (e) and (f) above, such principal and interest shall
automatically become due and payable immediately without any action on the
part of the Registered Holder, anything herein contained to the contrary
notwithstanding.

        13.    TRANSFERABILITY. This Debenture is transferable, in whole or
in part, only in accordance with the terms of this Debenture. The Registered
Holder may submit a written request, in person or by the Registered Holder's
duly authorized attorney, for a transfer of this Debenture on the register of
the Company maintained at its principal offices. The Company may deem and
treat the person in whose name this Debenture is registered as the absolute
owner hereof, for the purpose of receiving payment of the principal thereof
and interest hereon, whether or not the same shall be overdue, and for all
other purposes whatsoever, including but without limitation, the giving of
any written notices required hereunder, and the Company shall not be affected
by any notice to the contrary.

        14.    ADJUSTMENTS TO CONVERSION PRICE.

                                       6

<PAGE>

               (a) If the Company, at any time after the Issuance Date shall
(i) subdivide the outstanding shares of Common Stock into a larger number of
shares, or (ii) combine outstanding shares of Common Stock into a smaller
number of shares, or (iii) declare a stock dividend, the Conversion Price
prior to the date of any such occurrence shall be multiplied by a fraction of
which the numerator shall be the number of shares of Common Stock outstanding
before such event and of which the denominator shall be the number of shares
of Common Stock outstanding after such event. Any adjustment made pursuant to
this Section 14(a) shall become effective immediately after the effective
date of the subdivision or a combination.

               (b) If the Company, at any time after the Issuance Date, shall
declare a dividend or any other distribution upon any of its capital stock
which is payable in Common Stock, then the Conversion Price in effect
immediately prior to such declaration shall be reduced to an amount
determined by multiplying the Conversion Price then in effect by a fraction,
(x) the numerator of which shall be the number of shares of Common Stock and
Common Stock equivalents of the Company outstanding immediately prior to such
declaration, and (y) the denominator of which shall be the number of shares
of Common Stock and Common Stock equivalents of the Company outstanding
immediately after such declaration.

               For the purposes of the foregoing adjustment, in the case of
the issuance of any convertible or exchangeable securities, warrants, options
or other rights to subscribe for or to purchase or exchange for, shares of
Common Stock ("Exchangeable Securities"), the maximum number of shares of
Common Stock issuable upon exercise, conversion or exchange of such
Exchangeable Securities shall be deemed to be outstanding, provided that no
further adjustment shall be made upon the actual issuance of Common Stock
upon exercise, exchange or conversion of such Exchangeable Securities.

               (c) (i) In the event that at any time or from time to time
after the Issuance Date, the Common Stock issuable upon the conversion of
this Debenture is changed into the same or a different number of shares of
any class or classes of stock, whether by merger, consolidation,
recapitalization, reclassification or otherwise (other than a subdivision or
combination of shares or stock dividend or reorganization provided for
elsewhere in this Section 14), then and as a condition to each such event
provision shall be made so that the Registered Holder shall have the right
thereafter to convert this Debenture into the kind of stock receivable upon
such recapitalization, reclassification or other change by holders of shares
of Common Stock, all subject to further adjustment as provided herein. In
such event, the formula set forth herein for conversion and redemption shall
be adjusted to reflect such change in number of shares or, if shares of a new
class of stock are issued, to reflect the market price of the class or
classes of stock issued in connection with the above described transaction.

                      (ii) If at any time or from time to time after the
Issuance Date there is a capital reorganization of the Common Stock,
including by way of a sale of all or substantially all of the assets of the
Company (other than a recapitalization, subdivision, combination,
reclassification or exchange of shares provided for elsewhere in this Section
14), then, as a part of and a condition to such reorganization, provision
shall be made so that the Registered Holder shall thereafter be entitled to
receive upon conversion of this Debenture the number of shares of stock or
other

                                       7

<PAGE>

securities or property to which a holder of the number of shares of Common
Stock deliverable upon conversion of the Debentures would have been entitled
on such capital reorganization. In any such case, appropriate adjustment
shall be made in the application of the provisions of this Section 14 with
respect to the rights of the Registered Holder after the reorganization to
the end that the provisions of this Section 14 shall be applicable after that
event and be as nearly equivalent as may be practicable.

               (d) Whenever any element of the Conversion Price is adjusted
pursuant to Sections 12(a), (b) or (c), the Company shall promptly mail to
the Registered Holder, a notice setting forth the Conversion Price after such
adjustment and setting forth a brief statement of the facts requiring such
adjustment.

        15.    REMEDIES CUMULATIVE. The rights, powers and remedies given to
the Registered Holder and the Company under this Debenture shall be in
addition to all rights, powers and remedies given to it by virtue of any
statute or rule of law.

        16.    NON-WAIVER. Any forbearance, failure or delay by the
Registered Holder or the Company in exercising any right, power or remedy
under this Debenture shall not be deemed to be a waiver of such right, power
or remedy, nor shall any single or partial exercise of any right, power or
remedy preclude the further exercise thereof.

        17.    MODIFICATIONS AND WAIVERS. No modifications or waiver of any
provision of this Debenture shall be effective unless it shall be in writing
and signed by the Registered Holder and the Company, and any such
modifications or waiver shall apply only in the specific instance for which
given.

        18.    ATTORNEY'S FEES. If this Debenture shall not be paid when due
and shall be placed by the Registered Holder hereof in the hands of an
attorney for collection, through legal proceedings or otherwise, or if this
Debenture shall not be converted into shares of Common Stock pursuant to the
provisions of Section 6 hereof, and an action is brought by the Registered
Holder with respect thereto, the Company shall pay reasonable attorney's fees
to the Registered Holder or if more than one Registered Holder then the
reasonable fees of one lead attorney hereof, together with reasonable costs
and expenses of collection or enforcement incurred in connection with any
such action.

        19.    GOVERNING LAW. This Debenture and the rights and obligations
of the parties hereto, shall be governed, construed and interpreted according
to the laws of the State of Texas.

        20.    REGISTERED HOLDER DEFINED. The term "Registered Holder" as
used herein shall be deemed to include the Registered Holder and its
successors, endorsees and assigns.

        21.    WAIVER OF PRESENTMENT, ETC. The undersigned hereby waives
presentment, demand for payment, protest, notice of protest and notice of
non-payment hereof.

                                       8

<PAGE>

        22.    HEADINGS. The headings contained in this Debenture are for
reference purposes only and shall not affect the meaning of interpretation of
this Debenture.

        23.    NOTICES. Any notice to any party required or permitted
hereunder shall be given in writing and shall be effective upon personal
delivery, via facsimile (upon receipt of confirmation of error-free
transmission) or two business days following deposit of such notice with an
internationally recognized courier service, with postage prepaid and
addressed to such party at the address set forth below, or at such other
address as a party may designate by five days advance written notice to each
of the other parties hereto.

        COMPANY:                  Airtech International Group, Inc.
                                  15400 Knoll Trail, Suite #200
                                  Dallas, Texas  77063
                                  Attn: James Halter, General Counsel
                                  Tel: (972) 960-9400 x111
                                  Fax: (972) 960-9395

        REGISTERED HOLDER:        ____________________________________
                                  ____________________________________
                                  ____________________________________
                                  Attn:_______________________________
                                  Tel:________________________________
                                  Fax:________________________________

        24.    AMENDMENTS AND MODIFICATION. Changes in or additions to this
Debenture may be made, and compliance with any covenant or condition herein
set forth may be omitted only if the Company shall obtain the written consent
from the Registered Holder of this Debenture.

                  [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK,
                            SIGNATURE PAGE TO FOLLOW]

                                        9

<PAGE>

        IN WITNESS WHEREOF, the Company has caused this Debenture to be
executed as of ________________, 2000.

                                   AIRTECH INTERNATIONAL GROUP, INC.

                                   By:________________________________
                                   Name:______________________________
                                   Title:_____________________________

                                       10

<PAGE>

                              NOTICE OF CONVERSION

        The conversion from appearing below should only be executed by the
Registered Holder desiring to convert all or part of the principal amount of
the Debenture attached hereto.

                                 CONVERSION FORM

               Date:________________________

               To:    AIRTECH INTERNATIONAL GROUP, INC.

               The undersigned hereby exercises the conversion privileges
upon the terms and conditions set forth in the attached Debenture, to the
extent of the maximum number of shares of Common Stock issuable pursuant to
the terms of Section 6 of the Debenture, and accordingly, authorizes the
Company to apply $___________ principal amount of the attached Debenture to
payment in full for such shares of Common Stock. Please register such shares
and make delivery thereof as follows:

               Registered in the Name of (Giving First or Middle Name in Full)

               Name ___________________________________
                      (Please Print)

               Address ________________________________

               Signature ______________________________

                                       11

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