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Exhibit 10.28  

 
 

AMENDMENT TO
  AMENDED AND RESTATED EMPLOYMENT AGREEMENT    
    

        THIS AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this "Amendment") is made as of May 9th, 2003,
with respect to that certain Amended and Restated Employment Agreement dated as of June 6, 1994 (the "Employment Agreement"), by and between
Alliance Imaging, Inc., a Delaware corporation (the "Corporation"), and Cheryl A. Ford (the
"Executive"). 

        WHEREAS,
the Corporation and Executive wish to amend certain provisions of the Employment Agreement. 

        NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Corporation and Executive agree as follows: 

        1.    Definitions.    Capitalized terms used in this Amendment but not separately defined herein shall have the
meaning ascribed to them in the Employment Agreement. 

        2.    Amendments to Employment Agreement.    

	(a)
	Section 1.1
of the Employment Agreement is hereby amended to read in its entirety as follows: 

"1.1
Intentionally Left Blank." 

	(b)
	The
first paragraph of Section 3.1 of the Employment Agreement is hereby amended to read in its entirety as follows: 

"3.1
Termination. In the event the Corporation terminates Executive's employment without Just Cause (excluding termination due to death or disability
(as defined in Section 22(e) of the Internal Revenue Code of 1986, as amended)), or (b) of a Constructive Discharge (any termination described in clause (a) or (b) being
referred to as a "Severance"), then Executive shall be entitled to the following (collectively, the "Severance Benefits"):" 

	(c)
	Section 3.1
(i) of the Employment Agreement is hereby amended to read in its entirety as follows: 

"3.1
(i) a cash amount equal to twelve (12) months of salary at the rate of salary in effect immediately prior to the Severance (or, in the case of Constructive Discharge pursuant to
clause (i) of the definition thereof, immediately prior to the reduction in base salary described therein);" 

	(d)
	Paragraph 3.1
(iv) of the Employment Agreement is hereby amended to read in its entirety as follows: 

"3.1
(iv). Intentionally Left Bank." 

	(e)
	Paragraph 3.2
of the Employment Agreement is hereby amended to read in its entirety as follows: 

"3.2.  Intentionally Left Blank." 

	(f)
	Paragraph 3.3
of the Employment Agreement is hereby amended to read in its entirety as follows: 

"3.3
Payment. The payment of the cash portion of Severance Benefits shall be made by the Company to the Executive as follows: (a) one half of the
amount in Section 3.1(i) and the cash portion of the benefits listed in Section 3.1(iii) in a lump sum within thirty (30) days following Severance; and
(b) one half of the amount in Section 3.1 (i) and the amount payable under Section 3.1 (ii) on the first anniversary of the Severance contingent upon Executive's
full compliance with Section 14 of this Agreement." 

        3.    Merger.    Except as expressly amended above, the Agreements shall remain in full force and effect and the
provisions thereof are hereby incorporated by reference. 

(Signature page follows)

 

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

	 	 	/s/  CHERYL A. FORD      
CHERYL A. FORD
	

 	
 	

 	
 	

 
	 	 	 	 	 
	 	 	ALLIANCE IMAGING, INC.
	

 	
 	

By:	
 	

/s/  PAUL S. VIVIANO      

	 	 	Name:	 	Paul S. Viviano
	 	 	Title:	 	President and CEO

SIGNATURE PAGE TO AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT.

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        Exhibit 10.1

 
 

PROMISSORY NOTE    
    

	$51,694,000 (Canadian)	 	DUE: June 30, 2007

        FOR
VALUE RECEIVED, ONTARIO RACING INC. (hereinafter called the "Borrower") acknowledges itself indebted and hereby promises to pay to, or to the order of, CHARLES JURAVINSKI AND
MARGARET JURAVINSKI, on joint account, with right of survivorship (collectively, the "Holder"), at 626 Harvest Road, Dundas, Ontario L9H 5K7 (or such other address as the Holder may stipulate
for such purpose by notice in writing to the Borrower) the principal sum of FIFTY-ONE MILLION SIX HUNDRED AND NINETY-FOUR THOUSAND DOLLARS ($51,694,000) of lawful money of
Canada in the manner hereinafter provided and together with interest thereon as hereinafter provided. 

        Principal
repayments in the amount of TWO MILLION FIVE HUNDRED THOUSAND DOLLARS ($2,500,000) per annum shall be made on June 30 in each year (or if such date is not a business day
then on the next succeeding business day) commencing on June 30, 2003 to and including June 30, 2006, and thereafter on June 30, 2007, the entire principal balance then
outstanding together with accrued interest thereon, subject to the provisions as hereinafter provided, shall be due and payable. 

        From
and after October 18, 2002 to and including December 31, 2002, the principal amount from time to time outstanding hereunder shall bear interest at the rate of 6.24%
per annum. Thereafter, the principal amount from time to time outstanding hereunder shall bear interest at a rate to be established semi-annually on the last days of June and December in
each year, commencing December 31, 2002 (or if any of such days are not a business day, then on the next succeeding business day), which rate
shall be applicable in each case for the ensuing semi-annual period, based upon the then current yield of the benchmark Government of Canada Bond having a five-year term to
maturity (as published by the Bank of Canada on its website) plus 150 basis points, provided that such rate shall, in each semi-annual period, not be less than six percent (6%) per annum
nor greater than seven percent (7%) per annum. Such interest shall be calculated not in advance, on the outstanding principal amount hereof and on overdue interest, both before and after maturity and
both before and after default and judgment, and shall accrue and be payable monthly, in arrears, on the last day of each month (or if such date is not a business day then on the next succeeding
business day). 

        The
obligations of the Borrower under this Note shall be secured by: 

	(a)
	a
mortgage in the principal sum of $9,000,000 executed by Flamboro Downs Holdings Limited (the "Flamboro Guarantor") in favour of Charles Juravinski registered against title to the
Property (as defined and more particularly described in Schedule A hereto) on February 16, 1994 as Instrument No. 176205, as such mortgage is amended by agreement made as of
October 18, 2002;

	(b)
	a
mortgage in the principal sum of $750,000 executed by the Flamboro Guarantor in favour of Margaret Juravinski registered against title to the Property on February 16, 1994 as
Instrument No. 176204, as such mortgage is amended by agreement made as of October 18, 2002; 

 

	(c)
	a
guarantee of this Note executed by Magna Entertainment Corp. ("MEC") in favour of the Holder;

	(d)
	a
guarantee of this Note executed by the Flamboro Guarantor in favour of the Holder;

	(e)
	a
debenture in the principal sum of $51,694,000 executed by the Flamboro Guarantor in favour of the Holder registered against title to the Property, subject to the acknowledgement of
the Holder that the total indebtedness secured under clauses (a), (b) and this clause (e) does not exceed $51,694,000;

	(f)
	a
general security agreement executed by the Flamboro Guarantor in favour of Charles Juravinski registered under the Personal Property Security
Act (Ontario) (the "PPSA") as file reference no. 076508802; and

	(g)
	a
general security agreement executed by the Flamboro Guarantor in favour of Margaret Juravinski registered under the PPSA as file reference no. 076508811; 

all
of which and any other security granted from time to time by each of the Borrower, the Flamboro Guarantor and MEC to the Holder in connection with the Borrower's obligations under this Note are
referred to collectively as the "Security". 

        In
the event that a default in payment hereunder shall occur, which default is not remedied within seven (7) days of written notice of default by the Holder to the Borrower (an
"Event of Default"), the Holder may declare the principal amount hereof and interest accrued thereon to be immediately due and payable, subject to the Borrower's rights of set-off as
hereinafter set forth. 

        All
costs and expenses (including reasonable legal fees) paid or incurred by or on behalf of the Holder in collecting the principal hereof and any interest accrued thereon shall be
payable by the Borrower to the Holder and shall be deemed to form a part of the principal amount hereof. 

        Notwithstanding
anything herein, the Holder hereby irrevocably agrees that: 

	(a)
	the
Borrower, its successors and assigns, shall have the right, at all times, and from time to time during the term of this Note (and, if applicable, after the term for so long as
this Note continues to secure any amounts owing hereunder), to set-off against any and all amounts payable by the Borrower to the Holder hereunder:

	(i)
	the
full amount of any "Loss" suffered or incurred by the Borrower, its successors and assigns, as determined in accordance with, and after following the procedures as
provided for in Article IX of, a share purchase agreement dated as of February 5, 2002 among the Holder, the Flamboro Guarantor, Flamboro Downs Limited and 1180554 Ontario Limited,
amended by agreements of the above parties dated as of March 15, 2002, March 28, 2002 and May 3, 2002 and as further acknowledged and amended by agreement of the above parties,
the Borrower and MEC dated as of June 4, 2002, and letter amending agreement dated October 9, 2002 (the share purchase agreement and all amendments are collectively called "the Share
Purchase Agreement"); and (for greater certainty, but without in any way limiting the generality of the foregoing) 

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	(ii)
	the
amounts set forth in Schedule B hereto after, only in the case of items 2, 3 and 4 thereof, following the procedures as provided for in
Article IX of the Share Purchase Agreement provided that such procedures shall in no way limit the amounts payable by the Holder to the Borrower. 

Provided
that such right of set-off of the Borrower shall be exercised only to reduce the principal balance outstanding from time to time under this Note and, notwithstanding such
reduction(s), if any, of the principal balance, annual instalments of principal (so long as the principal balance outstanding at such time exceeds the annual instalments of principal payable pursuant
to the terms hereof), together with monthly instalments of interest shall continue to be payable as provided for in this Note; 

	(b)
	any
failure on the part of the Borrower, its successors and assigns, to set-off, as permitted above, shall not constitute a waiver of such right; and

	(c)
	the
exercise of the right of set-off, as permitted in subparagraph (a) above, whether in whole or in part, or the failure to exercise such right, whether in whole
or in part, shall not affect, limit or preclude any other remedy or action available to the Borrower, its successors and assigns, under the Share Purchase Agreement, including pursuant to
Article IX thereof, or at law or in equity. 

        The
Holder agrees that the Borrower shall have the right (exercisable upon not less than twenty (20) business days prior written notice to the Holder) to prepay this Note in full
prior to its due date upon payment to the Holder of an amount equal to the Early Termination Value (as hereinafter defined) on the date of prepayment. For the purposes hereof: 

	(a)
	"Early
Termination Value" on any date shall mean the aggregate of:

	(i)
	an
amount equal to the positive amount on such date, if any, by which (1) the present value of all scheduled payments of principal (including the payment due on
the due date) and of Early Termination Interest Payments remaining to be paid in respect of this Note to and including the due date, assuming no prepayments other than scheduled payments of principal,
discounted from the scheduled payment dates to such date (using a discount rate equal to the then current yield of the benchmark Government of Canada Bond having a term to maturity closest to the
remaining term of this Note (as published by the Bank of Canada on its website) plus 50 basis points), exceeds (2) the principal amount of this Note outstanding as of such date; and 

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	(ii)
	the
principal amount of this Note outstanding as of such date.

	(b)
	"Early
Termination Interest Payments" on any date shall mean the interest payments applicable to the principal amount of this Note outstanding as of such date (assuming all scheduled
payments of principal are made on their respective due dates) at an annual rate of 7% on each of the remaining scheduled interest payment dates to the due date of this Note. 

        The
provisions of this Note shall be governed by and interpreted in accordance with the laws of the Province of Ontario and the Borrower hereby irrevocably attorns to the jurisdiction of
the courts of such province. 

        This
Note shall enure to the benefit of the Holder, their respective heirs and estate trustees and shall be binding on the Borrower and its successors. 

        The
Borrower hereby waives presentment for payment, notice of non-payment (except as specifically provided for herein), protest and notice of protest. 

        DATED
at the City of Toronto this 18th day of October, 2002 

	 	 	ONTARIO RACING INC.
	

 	
 	

Per:	
 	

 Name: Andrew Gaughan

Title: Authorized Signing Officer
	 	 	 	 	I have authority to bind the Corporation

	
 Witness

Name:	 	
 CHARLES JURAVINSKI
	

 Witness

Name:	
 	

 MARGARET JURAVINSKI

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SCHEDULE A
  Legal Description of the Property    
    

Firstly:

PIN
17549-0023 (LT) being Part of Lot 3, Concession 3, West Flamborough, as in VM194726; S/T WF17909, Flamborough, City of Hamilton 

Secondly:

PIN
17549-0025 (LT) being Part of Lots 3 and 4, Concession 3, West Flamborough, as in AB345248, Part of Lot 3, Concession 3, West Flamborough, as in CD199166 & CD338882; and Part of
Lot 4, Concession 3, West Flamborough, designated as Part 1 on 62R-2480; S/T WF17909, WF17912, Flamborough, City of Hamilton 

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SCHEDULE B
  Additional Rights of Set-Off of the Borrower    
    

The
Borrower may immediately set off any and all amounts incurred by the Borrower against the principal amount owing under this Note in accordance with the provisions for set-off described
in the Share Purchase Agreement and included herein, in the event that: 

	1.
	the
Holder fails to comply with their Undertaking made as of October 18, 2002 in connection with construction liens registered against the Property, in which case the Borrower
shall be entitled to pay into court the full amount secured by such liens together with any additional security required pursuant to the Construction Lien
Act (Ontario) pending resolution of such liens, and the Borrower does, in fact, make such payment, together with all costs, including legal expenses, of the Borrower in this
regard;

	2.
	the
Borrower is required by any applicable court to pay any amounts with respect to any period or periods prior to July 1, 2002 under any litigation against the Acquired
Companies, the Real Property or the Leased Property, as those terms are defined in the Share Purchase Agreement, and the Borrower does, in fact, make such payment, together with all costs, including
legal expenses, of the Borrower in this regard;

	3.
	the
Borrower pays any amount to the Ontario Lottery and Gaming Corporation for adjustments to amounts paid or payable under the Site Holder Facilities Agreement (as that term is
defined in the Share Purchase Agreement) prior to July 1, 2002, including (without limitation) with respect to shared common expenses or separately metered expenses; and

	4.
	the
Acquired Companies are required to and accordingly do make, with respect to any period or periods prior to July 1, 2002, (a) any payments to the Ontario Harness Horse
Association under the Ontario Harness Horse Association Agreement; or (b) any adjustments to revenue as a result of incorrectly booked revenue (without an appropriate reserve) in respect of
amounts relating to the Ontario Harness Horse Association. 

The
rights of set-off listed in this Schedule are in addition to and not intended to limit the rights of set-off included in this Note. 

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PROMISSORY NOTE

SCHEDULE A Legal Description of the Property

SCHEDULE B Additional Rights of Set-Off of the Borrower

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