Document:

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                                                                    Exhibit 10.6

                                            May 9, 2002

Marc B. Garnick, M.D.
140 Dudley Street
Brookline, Massachusetts  02146

Dear Dr. Garnick:

         In consideration of your continued employment with PRAECIS
PHARMACEUTICALS INCORPORATED ("PRAECIS" or the "Company"), the Company is
pleased to extend the following severance benefits to you. Please acknowledge
your agreement to the terms and conditions of these severance benefits by
executing this letter agreement (this "agreement") where indicated below.

CHANGE OF CONTROL SEVERANCE BENEFITS.

If a "Change of Control" occurs and your employment with the Company is
terminated upon, or within a one-year period following, the effective date of
such Change of Control by (i) the Company, other than for "Cause," or (ii) you
for "Good Reason," you shall be entitled to a lump sum payment equal to either
(A) your annual salary for the year in which such Change of Control occurs, plus
the full amount of your target award under the Company's Executive Management
Bonus Plan (the "Bonus Plan") for that year, if such termination occurs during
the twelve months immediately following the date of this agreement, or (B) two
times the sum of (x) your annual salary for the year in which such Change of
Control occurs and (y) the full amount of your target award under the Bonus Plan
for that year, if such termination occurs at any time after the first
anniversary of the date of this agreement. In addition, in the event of such
termination, then for a period of either (i) one year following the effective
date of such termination, if such termination occurs during the twelve months
immediately following the date of this agreement, or (ii) two years following
the effective date of termination, if such termination occurs at any time after
the first anniversary of the date of this agreement, the Company shall, at its
sole cost and expense, maintain in full force and effect for your benefit (and
the benefit of your spouse and children, if applicable) the long-term disability
and medical and dental insurance coverage maintained by the Company and as in
effect immediately prior to the Change of Control or, if more favorable to you
(and your spouse and children, if applicable), as in effect immediately prior to
the occurrence of the first event or circumstance constituting Good Reason;
provided that if the general terms and conditions of such insurance do not
permit the continued coverage of you (and of your spouse and children, if
applicable) as provided above, the Company shall, provide or arrange to provide
you (and your spouse and children, if applicable) for the applicable period as
provided above, at its sole cost and expense, with such insurance coverage
having benefits substantially similar (with no reduction in benefits) to those
which you (and you spouse and children, if applicable) would otherwise have been
entitled had the continued coverage of you (and of your spouse and children, if
applicable) as provided above been permitted under the general terms and
conditions of such insurance.

<PAGE>

Marc B. Garnick, M.D.
May 9, 2002
Page 2

ACCELERATION OF VESTING OF FUTURE STOCK OPTIONS.

The Company hereby acknowledges that as of the date hereof, you hold stock
options granted under the Company's Second Amended and Restated 1995 Stock Plan
(as it has been or may be amended from time to time, the "Stock Plan") to
purchase shares of PRAECIS common stock, upon the terms and conditions set forth
in the respective stock option agreements between you and the Company with
respect to such stock options (such stock option agreements, together with each
other stock option agreement entered into between you and the Company with
respect to any stock options granted to you under the Stock Plan after the date
hereof, being collectively referred to as "Stock Option Agreements"). The
parties further acknowledge and agree that (i) notwithstanding any provisions of
the Stock Plan to the contrary, any additional stock options granted to you
under the Stock Plan after the date hereof (including any such options assumed
by another entity in connection with a Change of Control) shall automatically
become fully vested and exercisable upon the termination of your employment upon
or after a Change of Control if such termination would entitle you to a lump sum
payment pursuant to the immediately preceding paragraph of this agreement
("Change of Control Severance Benefits"), (ii) immediately upon a Change of
Control, the section of each Stock Option Agreement captioned "No Exercise of
Option if Employment Terminated for Misconduct" shall automatically cease to be
of any force or effect and, accordingly, no termination of your employment with
the Company upon or after a Change of Control will be, or will be deemed to be,
a termination for "Misconduct" for purposes of any Stock Option Agreement, (iii)
the provisions of clause (ii) of this sentence shall constitute amendments to
the respective Stock Option Agreements entered into prior to the date hereof and
(iv) any Stock Option Agreement entered into after the date hereof will include
provisions to the effect provided in clauses (i) and (ii) of this sentence.

WITHHOLDING.

The Company may withhold from any amounts payable hereunder such federal, state,
local or foreign taxes as shall be required to be withheld pursuant to any
applicable law or regulation.

PARACHUTE TAX TREATMENT.

In the event that any payment or benefit you receive from the Company or an
affiliate (collectively, the "Payments") would be subject to the excise tax (the
"Excise Tax") imposed on "excess parachute payments" pursuant to Section 4999 of
the Internal Revenue Code of 1986, as amended (the "Code"), then the Payments
shall be reduced to the extent necessary so that no portion of the Payments is
subject to the Excise Tax, provided that such reduction shall occur only if (A)
the net amount of such Payments, as so reduced (and after subtracting the net
amount of federal, state and local income taxes on such reduced Payments) is
greater than (B) the net amount of such Payments without such reduction (but
after subtracting the net amount of federal, state and local income taxes on
such Payments and the amount of Excise Tax to which you would be subject in
respect of such unreduced Payments). Determinations with respect to the
preceding sentence shall be made by the Company's auditors which were serving as
such prior to the Change of Control, in consultation with tax counsel selected
by the Company.

<PAGE>

Marc B. Garnick, M.D.
May 9, 2002
Page 3

CERTAIN DEFINITIONS.

For the purposes of this agreement:

A "Change of Control" shall occur if:

(i) any individual, entity or "person" (within the meaning of Section 13(d)(3)
or Section 14(d)(2) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act")), other than the Company, any trustee or other fiduciary holding
securities under an employee benefit plan of the Company, or any corporation
owned directly or indirectly by the stockholders of Company in substantially the
same proportion as their ownership of stock of the Company, is or becomes the
"beneficial owner" (as defined in Rule 13d-3 under the Exchange Act), directly
or indirectly, of securities of the Company representing more than 50% of the
combined voting power of the Company's then outstanding securities entitled to
vote generally for the election of directors;

(ii) individuals who, as of the date hereof, constitute the Company's Board of
Directors (as of the date hereof, the "Incumbent Board") cease for any reason to
constitute a majority of the Company's Board of Directors, provided that any
person becoming a director subsequent to the date hereof whose election, or
nomination for election by the Company's stockholders, was approved by a vote of
at least a majority of the directors then comprising the Incumbent Board (other
than an election or nomination of an individual whose initial assumption of
office is in connection with an actual or threatened election contest relating
to the election of the directors of the Company, as such terms are used in Rule
14a-11 of Regulation 14A under the Exchange Act) shall be, for purposes of this
agreement, considered as though such person were a member of the Incumbent
Board;

(iii) the stockholders of the Company approve a merger or consolidation of the
Company or any direct or indirect subsidiary of the Company with any other
entity or entities (whether or not the Company would be the surviving
corporation), other than a merger or consolidation which would result in the
voting securities of the Company outstanding immediately prior to such merger or
consolidation representing (either by remaining outstanding or by being
converted into or exchanged for voting securities of the surviving entity or any
parent thereof), immediately after such merger or consolidation, more than 50%
of the combined voting power of the voting securities of such surviving entity
or any parent thereof entitled to vote generally for the election of directors;
or

(iv) the stockholders of the Company approve a plan of complete liquidation of
the Company or an agreement for the sale or disposition by the Company of all or
substantially all of the Company's assets.

"Cause" shall mean: (i) your substantial and continuing willful failure to
perform your assigned duties (other than any such failure resulting from
incapacity due to injury or physical or mental illness), which failure is not
cured within 30 days after a written demand for substantial performance is
delivered to you by the Company at the direction of the Company's Board of
Directors which specifically identifies the manner in which you have not
substantially

<PAGE>

Marc B. Garnick, M.D.
May 9, 2002
Page 4

performed your assigned duties, and provided you have had a reasonable
opportunity, after receipt of such written demand, to be heard (and to be
represented by counsel) at a meeting of the Company's Board of Directors, or
(ii) (A) your conviction of a felony (other than unintentional motor vehicle
felonies) or (B) your engaging in gross misconduct which is materially and
demonstrably injurious to the Company, provided (in the case of this clause (B))
you have received written notice from the Company at the direction of the Board
of Directors specifically identifying the acts or omissions constituting such
gross misconduct and you have had a reasonable opportunity, after receipt of
such notice, to be heard (and to be represented by counsel) at a meeting of the
Company's Board of Directors. For purposes of this definition, no act or failure
to act shall be considered "willful" unless it is done, or omitted to be done,
in bad faith or without reasonable belief that the action or omission was in the
best interests of the Company.

"Good Reason" shall mean: (i) any adverse and material alteration or diminution
in your position, title or responsibilities as they existed immediately prior to
the Change of Control, if the Company does not remedy such alteration or
diminution within 30 days following notice from you; (ii) the Company's material
reduction of your annual base salary or targeted bonus opportunity, in each case
as in effect immediately prior to the Change of Control; or (iii) relocation of
the Company's offices at which you are employed immediately prior to the Change
of Control which increases your daily commute by more than 50 miles on a round
trip basis.

LEGAL FEES.

The Company shall pay to you or as you direct all legal fees and expenses
incurred by you or on your behalf in seeking in good faith to obtain or enforce
any benefit or right provided by this agreement or in connection with any tax
audit or proceeding to the extent attributable to the application of section
4999 of the Code to any payment or benefit provided hereunder. Such payments
shall be made within five (5) business days after your delivery to the Company
of written request for payment accompanied by invoices reflecting such fees and
expenses incurred as to which payment is being requested. You shall be entitled
to seek specific performance of your rights under this paragraph during the
pendency of any dispute or controversy arising under or in connection with this
agreement, and in such event the Company will not assert that there is an
adequate remedy at law.

SUCCESSORS.

This agreement shall inure to the benefit of and be binding upon the Company and
its successors and assigns (whether direct or indirect, by purchase, merger,
consolidation or otherwise). The Company will require any assignee(s) or
transferee(s) of all or substantially all of assets of the Company to assume
expressly and agree to perform this agreement in the same manner and to the same
extent that the Company would be required to perform it if no such assignment or
transfer had taken place. As used in this agreement, "Company" shall mean the
Company as hereinbefore defined and its successors and assigns as aforesaid.
This agreement is personal to you and without the prior written consent of the
Company shall not be assignable by you except by will or the laws of descent and
distribution. This agreement shall inure to the benefit of and

<PAGE>

Marc B. Garnick, M.D.
May 9, 2002
Page 5

be enforceable by your personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees and legatees. If you
should die while any amount would still be payable to you hereunder if you had
continued to live, all such amounts shall be paid in accordance with the terms
of this agreement to your devisee, legatee or other designee or legal
representative.

MISCELLANEOUS.

This agreement shall be governed by and construed in accordance with the laws of
the State of Delaware, without reference to principles of conflict of laws. The
captions of this agreement are not part of the provisions hereof and shall have
no force or effect. This agreement may not be amended or modified otherwise than
by a written agreement executed by the parties hereto or their respective
successors or assigns or, in your case, legal representative(s). No delay or
omission by a party in exercising any right under this agreement shall operate
as a waiver of that of any other right. A waiver or consent given by a party on
any one occasion shall be effective only in that instance and shall not be
construed as a bar or waiver of any right on any other occasion. In case any
provision of this agreement shall be invalid, illegal or otherwise
unenforceable, the validity, legality and enforceability of the remaining
provisions shall in no way be affected or impaired thereby. The captions of the
sections of this agreement are for convenience of reference only and in no way
define, limit or affect the scope or substance of any section of this agreement.
This agreement may be executed in counterparts, each of which when executed
shall be deemed to be an original but which taken together shall constitute one
and the same agreement.

                  By signing this agreement, you acknowledge that your
employment with PRAECIS continues to be at-will. Therefore, your employment can
terminate, with or without cause, and with or without notice, at any time, at
your option or the Company's option, and the Company can terminate or change all
other terms and conditions of your employment, with or without cause, and with
or without notice, at any time; provided that this sentence is not intended to,
and shall not, limit or impair in any manner your rights and the Company's
obligations hereunder or under any other written agreement between you and the
Company.

                                       Sincerely yours,

                                       PRAECIS PHARMACEUTICALS INCORPORATED

                                       By  /s/ Malcolm L. Gefter
                                           ------------------------------------
                                           Malcolm L. Gefter, Ph.D.
                                           Chairman and Chief Executive Officer

<PAGE>

Marc B. Garnick, M.D.
May 9, 2002
Page 6

Your signature below indicates that you have read, understand and agree to the
terms and conditions of this agreement. Please retain a copy of this document
for your files and return the executed original to the attention of Mary Beth
DeLena, Vice President, Legal.

Agreed and Accepted by:

/s/ Marc B. Garnick
---------------------
Marc B. Garnick, M.D.

Date:  May 9, 2002
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Exhibit 10.1    
  

	LOAN NUMBER

1031000029-502
 NOTE AMOUNT

$10,000,000.00	 	LOAN NAME

EPIQ Systems, Inc.
 INDEX (w/Margin)

Wall Street Journal Prime	 	ACCT. NUMBER

 RATE

4.75%
 Creditor Use Only	 	AGREEMENT DATE

06/04/02
 MATURITY DATE

06/04/03	 	INITIALS

JLH
 LOAN PURPOSE

Commercial

COMMERCIAL LOAN AGREEMENT
  Revolving Draw Loan 

	

DATE AND PARTIES.    The date of this Commercial Loan Agreement (Agreement) is June 4, 2002. The
parties and their addresses are as follows: 

LENDER:

        GOLD BANK
          11301 Nall Avenue

        Leawood, Kansas 66211 

BORROWER:

        EPIQ SYSTEMS, INC.

        a Kansas Corporation

        501 Kansas Avenue

        Kansas City, Kansas 66105 

1. DEFINITIONS.    For the purposes of this Agreement, the following terms have the following meanings. 

A. Accounting Terms.    In this Agreement, any accounting terms that are not specifically defined will have their customary meanings under
generally accepted accounting principles. 

B. Insiders.    Insiders include those defined as insiders by the United States Bankruptcy Code, as amended; or to the extent left undefined,
include without limitation any officer, employee, stockholder or member, director, partner, or any immediate family member of any of the foregoing, or any person or entity which, directly or
indirectly, controls, is controlled by or is under common control with me. 

C. Loan.    The Loan refers to this transaction generally, including obligations and duties arising from the terms of all documents prepared or
submitted for this transaction. 

D. Pronouns.    The pronouns "I", "me" and "my" refer to every Borrower signing this Agreement, individually or together, and their heirs,
successors and assigns. "You" and "your" refers to the Loan's lender, any participants or syndicators, or any person or company that acquires an interest in the Loan and their successors and assigns. 

E. Property.    Property is any property, real, personal or intangible, that secures my performance of the obligations of this Loan. 

2. ADVANCES.    Advances under this Agreement are made according to the following terms and conditions. 

A. Multiple Advances—Revolving.    In accordance with the terms of this Agreement and other Loan documents, you will provide me with
a revolving draw note and the maximum outstanding principal balance will not exceed $10,000,000.00 (Principal). 

B. Requests for Advances.    My requests are a warranty that I am in compliance with all the Loan documents. When required by you for a
particular method of advance, my requests for an advance must specify the requested amount and the date and be accompanied with any agreements, documents, and instruments that you require for the
Loan. Any payment by you of any check, share draft or other charge may, at your option, constitute an advance on the Loan to me. All advances will be made in United States dollars. I will indemnify
you and hold you harmless for your reliance on any request for advances that you reasonably believe to be genuine. To the extent permitted by law, I will indemnify you and hold you harmless when the
person making any request represents that I authorized this person to request an advance even when this person is unauthorized or this person's signature is not genuine. 

I
or anyone I authorize to act on my behalf may request advances by the following methods. 

(1)
I make a request in person. 

(2)
I make a request by phone. 

(3)
I make a request by mail. 

(4)
I make a written request. 

C. Advance Limitations.    In addition to any other Loan conditions, requests for, and access to, advances are subject to the following
limitations. 

(1)
Obligatory Advances. You will make all Loan advances subject to this Agreement's terms and conditions. 

(2)
Advance Amount. Subject to the terms and conditions contained in this Agreement, advances will be made in exactly the amount I request. 

(3)
Cut-Off Time. Requests for an advance received before 03:00 PM will be made on any day that you are open for business, on the day for which the advance is requested. 

(4)
Disbursement of Advances. On my fulfillment of this Agreement's terms and conditions, you will disburse the advance in any manner as you and I agree. 

(5)
Credit Limit. I understand that you will not ordinarily grant a request for an advance that would cause the unpaid principal of my Loan to be greater than the Principal limit. You may, at your
option, grant such a request without obligating yourselves to do so in the future. 

(6)
Records. Your records will be conclusive evidence as to the amount of advances, the Loan's unpaid principal balances and the accrued interest. 

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D. Conditions.    I will satisfy all of the following conditions before you either issue any promissory notes or make any advances under this
Agreement. 

(1)
No Default. There has not been a default under this Agreement or other Loan documents nor would a default result from making the Loan or any advance. 

(2)
Information. You have received all documents, information, certifications and warranties as you may require, all properly executed, if appropriate, on forms acceptable to you. This includes, but
is not limited to, the documents and other items listed in the Loan Checklist Report which is hereby incorporated by reference into this Agreement. 

(3)
Inspections. You have made all inspections that you consider necessary and are satisfied with this inspection. 

(4)
Conditions and Covenants. I will have performed and complied with all conditions required for an advance and all covenants in this Agreement and any other Loan documents. 

(5)
Warranties and Representations. The warranties and representations contained in this Agreement are true and correct at the time of making the requested advance. 

(6)
Financial Statements. My most recent financial statements and other financial reports, delivered to you, are current, complete, true and accurate in all material respects and fairly represent my
financial condition. 

(7)
Bankruptcy Proceedings. No proceeding under the United States Bankruptcy Code has been commenced by or against me or any of my affiliates. 

3. MATURITY DATE.    I agree to fully repay the Loan by June 4, 2003. 

4. WARRANTIES AND REPRESENTATIONS.    I make to you the following warranties and representations which will continue as long as this Loan is in
effect, except when this Agreement provides otherwise. 

A. Power.    I am duly organized, and validly existing and in good standing in all jurisdictions in which I operate. I have the power and
authority to enter into this transaction and to carry on my business or activity as it is now being conducted and, as applicable, am qualified to do so in each jurisdiction in which I operate. 

B. Authority.    The execution, delivery and performance of this Loan and the obligation evidenced by the Note are within my powers, have been
duly authorized, have received all necessary governmental approval, will not violate any provision of law, or order of court or governmental agency, and will not violate any agreement to which I am a
party or to which I am or any of my property is subject. 

C. Name and Place of Business.    Other than previously disclosed in writing to you I have not changed my name or principal place of business
within the last 10 years and have not used any other trade or fictitious name. Without your prior written consent, I do not and will not use any other name and will preserve my existing name,
trade names and franchises. 

D. Loan Purpose.    This Loan is for Commercial purposes. 

E. No Other Liens.    I own or lease all property that I need to conduct my business and activities. I have good and marketable title to all
property that I own or lease. All of my Property is free and clear of all liens, security interests, encumbrances and other adverse claims and interests, except those to you or those you consent to in
writing. 

F. Compliance With Laws.    I am not violating any laws, regulations, rules, orders, judgments or decrees applicable to me or my property,
except for those which I am challenging in good faith through proper proceedings after providing adequate reserves to fully pay the claim and its challenge should I lose. 

G. Legal Dispute.    There are no pending or threatened lawsuits, arbitrations or other proceedings against me or my property that singly or
together may materially and adversely affect my property, operations, financial condition, or business. 

H. Adverse Agreements.    I am not a party to, nor am I bound by, any agreement that is now or is likely to become materially adverse to my
business, Property or operations. 

I. Other Claims.    There are no outstanding claims or rights that would conflict with the execution, delivery or performance by me of the terms
and conditions of this Agreement or the other Loan documents. No outstanding claims or rights exist that may result in a lien on the Property, the Property's proceeds and the proceeds of proceeds,
except liens that were disclosed to and agreed to by you in writing. 

J. Solvency.    I am able to pay my debts as they mature, my assets exceed my liabilities and I have sufficient capital for my current and
planned business and other activities. I will not become insolvent by the execution or performance of this Loan. 

5. FINANCIAL STATEMENTS.    I will prepare and maintain my financial records using consistently applied generally accepted accounting principles
then in effect. I will provide you with financial information in a form that you accept and under the following terms. 

A. Certification.    I represent and warrant that any financial statements that I provide you fairly represents my financial condition for the
stated periods, is current, complete, true and accurate in all material respects, includes all of my direct or contingent liabilities and there has been no material adverse change in my financial
condition, operations or business since the date the financial information was prepared. 

B. Frequency.    Annually, I will provide to you my financial statements, tax returns, annual internal audit reports or those prepared by
independent accountants as soon as available or at least within 90 days after the close of each of my fiscal years. Any annual financial statements that I provide you will be prepared
statements. 

(1)
Interim Financial Reports. Each fiscal quarter, I will provide to you my financial statements, internal audit reports or those prepared by independent accountants, tax reports, statements of cash
flow, budgets and forecasts, certificates and schedules of Property as soon as available or at least within 20 days after the close of this business period. Any interim financial statements
that I provide you will be prepared statements. 

C. SEC Reports.    I will provide you with true and correct copies of all reports, notices or statements that I provide to the Securities and
Exchange Commission, any securities exchange or my stockholders, owners, or the holders of any material indebtedness as soon as available or at least within 30 days after issuance. 

D. Requested Information.    I will provide you with any other information about my operations, financial affairs and condition within
30 days after your request. 

6. COVENANTS.    Until the Loan and all related debts, liabilities and obligations are paid and discharged, I will comply with the following
terms, unless you waive compliance in writing. 

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A. Participation.    I consent to you participating or syndicating the Loan and sharing any information that you decide is necessary about me
and the Loan with the other participants or syndicators. 

B. Inspection.    Upon reasonable notice, I will permit you or your agents to enter any of my premises and any location where my Property is
located during regular business hours to do the following. 

(1)
You may inspect, audit, check, review and obtain copies from my books, records, journals, orders, receipts, and any correspondence and other business related data. 

(2)
You may discuss my affairs, finances and business with any one who claims to be my creditor. 

After
prior notice to me, you may discuss my financial condition and business operations with my independent accountants, if any, or my chief financial officer and I may be present during these
discussions. As long as the Loan is outstanding, I will direct all of my accountants and auditors to permit you to examine my records in their possession and to make copies of these records. You will
use your best efforts to maintain the confidentiality of the information you or your agents obtain, except you may provide your regulator, if any, with required information about my financial
condition, operation and business or that of my parent, subsidiaries or affiliates. 

C. Business Requirements.    I will preserve and maintain my present existence and good standing in the jurisdiction where I am organized and
all of my rights, privileges and franchises. I will do all that is needed or required to continue my business or activities as presently conducted, by obtaining licenses, permits and bonds everywhere
I engage in business or activities or own, lease or locate my property. I will obtain your prior written consent before I cease my business or before I engage in any new line of business that is
materially different from my present business. 

D. Compliance with Laws.    I will not violate any laws, regulations, rules, orders, judgments or decrees applicable to me or my Property,
except for those which I challenge in good faith through proper proceedings after providing adequate reserves to fully pay the claim and its appeal should I lose. Laws include without limitation the
Federal Fair Labor Standards Act requirements for producing goods, the federal Employee Retirement Income Security Act of 1974's requirements for the establishment, funding and management of qualified
deferred compensation plans for employees, health and safety laws, environmental laws, tax laws, licensing and permit laws. On your request, I will provide you with written evidence that I have fully
and timely paid my taxes, assessments and other governmental charges levied or imposed on me, my income or profits and my property. Taxes include without limitation sales taxes, use taxes, personal
property taxes, documentary stamp taxes, recordation taxes, franchise taxes, income taxes, withholding taxes, FICA taxes and unemployment taxes. I will adequately provide for the payment of these
taxes, assessments and other charges that have accrued but are not yet due and payable. 

E. New Organizations.    I will obtain your written consent and any necessary changes to the Loan documents before I organize or participate in
the organization of any entity, merge into or consolidate with any one, permit any one else to merge into me, acquire all or substantially all of the assets of any one else or otherwise materially
change my legal structure, management, ownership or financial condition. 

F. Dealings with Insiders.    I will not purchase, acquire or lease any property or services from, or sell, provide or lease any property or
services to, or permit any outstanding loans or credit extensions to, or otherwise deal with, any Insiders except as required under contracts existing at the time I applied for the Loan and approved
by you or as this Agreement otherwise permits. I will not change or breach these contracts existing at Loan application so as to cause an acceleration of or an increase in any payments due. 

G. Other Debts.    I will pay when due any and all other debts owed or guaranteed by me and will faithfully perform, or comply with all the
conditions and obligations imposed on me concerning the debt or guaranty. 

H. Other Liabilities.    I will not incur, assume or permit any debt evidenced by notes, bonds or similar obligations, except: debt in existence
on the date of this Agreement and fully disclosed to you; debt subordinated in payment to you on conditions and terms acceptable to you; accounts payable incurred in the ordinary course of my business
and paid under customary trade terms or contested in good faith with reserves satisfactory to you. 

I. Notice to You.    I will promptly notify you of any material change in my financial condition, of the occurrence of a default under the terms
of this Agreement, or a default by me under any agreement between me and any third party which materially and adversely affects my property, operations, financial condition or business. 

J. Certification of No Default.    On your request, my chief financial officer or my independent accountant will provide you with a written
certification that to the best of their knowledge no event of default exists under the terms of this Agreement or the other Loan documents, and that there exists no other action, condition or event
which with the giving of notice or lapse of time or both would constitute a default. As requested, my chief financial officer or my independent accountant will also provide you with computations
demonstrating compliance with any financial covenants and ratios contained in this Agreement. If an action, condition or event of default does exist, the certificate must accurately and fully disclose
the extent and nature of this action, condition or event and state what must be done to correct it. 

K. Use of Loan Proceeds.    I will not permit the loan proceeds to be used to purchase, carry, reduce, or retire any loan incurred to purchase
or carry any margin stock. 

L. Dispose of No Assets.    Without your prior written consent or as the Loan documents permit, I will not sell, lease, assign, transfer,
dispose of or otherwise distribute all or substantially all of my assets to any person other than in the ordinary course of business for the assets' depreciated book value or more. 

M. No Other Liens.    I will not create, permit or suffer any lien or encumbrance upon any of my properties for or by anyone, other than you,
except for: nonconsensual liens imposed by law arising out of the ordinary course of business on obligations that are not overdue or which I am contesting in good faith after making appropriate
reserves; valid purchase money security interests on personal property; or any other liens specifically agreed to by you in writing. 

N. Guaranties.    I will not guaranty or become liable in any way as surety, endorser (other than as endorser of negotiable instruments in the
ordinary course of business) or accommodation endorser or otherwise for the debt or obligations of any other person or entity, except to you or as you otherwise specifically agree in writing. 

O. No Default under Other Agreements.    I will not allow to occur, or to continue unremedied, any act, event or condition which constitutes a
default, or which, with the passage of time or giving of notice, or both, would constitute a default under any agreement, document, instrument or undertaking to which I am a party or by which I may be
bound. 

P. Legal Disputes.    I will promptly notify you in writing of any threatened or pending lawsuit, arbitration or other proceeding against me or
any of my property, not identified in my financial statements, or that singly or together with other proceedings may materially and adversely affect my property, operations, financial condition or
business. I will use my best efforts to bring about a favorable and speedy result of any of these lawsuits, arbitrations or other proceedings. 

Q. Other Notices.    I will immediately provide you with any information that may materially and adversely affect my ability to perform this
Agreement and of its anticipated effect. 

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R. No Change in Capital.    I will not release, redeem, retire, purchase or otherwise acquire, directly or indirectly, any of my capital stock
or other equity security or partnership interest, or make any change in my capital structure, except to the extent required by any agreements signed prior to this Agreement and disclosed to you or
with your prior written consent. 

S. Loan Obligations.    I will make full and timely payment of all principal and interest obligations, and comply with the other terms and
agreements contained in this Agreement and in the other Loan documents. 

T. Insurance.    I will obtain and maintain insurance with insurers, in amounts and coverages that are acceptable to you and customary with
industry practice. This may include without limitation insurance policies for public liability, fire, hazard and extended risk, workers compensation, and, at your request, business interruption and/or
rent loss insurance. At your request, I will deliver to you certified copies of all of these insurance policies, binders or certificates. I will obtain and maintain a mortgagee or loss payee
endorsement for you when these endorsements are available. I will immediately notify you of cancellation or termination of insurance. I will require all insurance policies to provide you with at least
10 days prior written notice to you of cancellation or modification. I consent to you using or disclosing information relative to any contract of insurance required by the Loan for the purpose
of replacing this insurance. I also authorize my insurer and you to exchange all relevant information related to any contract of insurance required by any document executed as part of this Loan. 

U. Minimum Tangible Net Worth.    I will maintain at all times a tangible net worth, determined under consistently applied generally accepted
accounting principles, of $35,000,000.00 or more. Tangible net worth is the amount that total assets exceed total liabilities. For determining tangible net worth, total assets will exclude all
intangible assets, including without limitation goodwill, patents, trademarks, trade names, copyrights, and franchises, and will also exclude all Accounts Receivable, owed by my Insiders, that do not
provide for a repayment schedule. 

V. Minimum Ratio of Net Income to Interest Expense.    During this Agreement's term, I will maintain a ratio of net income before interest and
taxes to interest expense of 1.5:1 or more as determined on last day of each fiscal year under consistently applied generally accepted accounting principles. For this determination, net income before
interest and taxes excludes any extraordinary gains and losses and any gains or losses from the sale or other disposition of assets outside of the ordinary course of business. 

7. DEFAULT.    I will be in default if any of the following occur: 

A. Payments.    I fail to make a payment in full when due. 

B. Insolvency or Bankruptcy.    I make an assignment for the benefit of creditors or become insolvent, either because my liabilities exceed my
assets or I am unable to pay my debts as they become due; or I petition for protection under federal, state or local bankruptcy, insolvency or debtor relief laws, or am the subject of a petition or
action under such laws and fail to have the petition or action dismissed within a reasonable period of time not to exceed 60 days. 

C. Business Termination.    I merge, dissolve, reorganize, end my business or existence, or a partner or majority owner dies or is declared
legally incompetent. 

D. Failure to Perform.    I fail to perform any condition or to keep any promise or covenant of this Agreement. 

E. Other Documents.    A default occurs under the terms of any other transaction document. 

F. Other Agreements.    I am in default on any other debt or agreement I have with you. 

G. Misrepresentation.    I make any verbal or written statement or provide any financial information that is untrue, inaccurate, or conceals a
material fact at the time it is made or provided. 

H. Judgment.    I fail to satisfy or appeal any judgment against me. 

I. Forfeiture.    The Property is used in a manner or for a purpose that threatens confiscation by a legal authority. 

J. Name Change.    I change my name or assume an additional name without notifying you before making such a change. 

K. Property Transfer.    I transfer all or a substantial part of my money or property. 

L. Property Value.    The value of the Property declines or is impaired. 

M. Material Change.    Without first notifying you, there is a material change in my business, including ownership, management, and financial
conditions. 

N. Insecurity.    You reasonably believe that you are insecure. 

8. REMEDIES.    After I default, and after you give any legally required notice and opportunity to cure the default, you may at your option do
any one or more of the following. 

A. Acceleration.    You may make all or any part of the amount owing by the terms of the Loan immediately due. 

B. Sources.    You may use any and all remedies you have under state or federal law or in any instrument securing the Loan. 

C. Insurance Benefits.    You may make a claim for any and all insurance benefits or refunds that may be available on my default. 

D. Payments Made On My Behalf.    Amounts advanced on my behalf will be immediately due and may be added to the balance owing under the terms of
the Loan, and accrue interest at the highest post-maturity interest rate. 

E. Termination.    You may terminate my right to obtain advances and may refuse to make any further extensions of credit. 

F. Set-Off.    You may use the right of set-off. This means you may set-off any amount due and payable under
the terms of the Loan against any right I have to receive money from you. 

My
right to receive money from you includes any deposit or share account balance I have with you; any money owed to me on an item presented to you or in your possession for collection or exchange; and
any repurchase agreement or other non-deposit obligation. "Any amount due and payable under the terms of the Loan" means the total amount to which you are entitled to demand payment under
the terms of the Loan at the time you set-off. 

Subject
to any other written contract, if my right to receive money from you is also owned by someone who has not agreed to pay the Loan, your right of set-off will apply to my interest in
the obligation and to any other amounts I could withdraw on my sole request or endorsement. 

Your
right of set-off does not apply to an account or other obligation where my rights arise only in a representative capacity. It also does not apply to any Individual Retirement Account
or other tax-deferred retirement account. 

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You
will not be liable for the dishonor of any check when the dishonor occurs because you set-off against any of my accounts. I agree to hold you harmless from any such claims arising as a
result of your exercise of your right of set-off. 

G. Waiver.    Except as otherwise required by law, by choosing any one or more of these remedies you do not give up your right to use any other
remedy. You do not waive a default if you choose not to use a remedy. By electing not to use any remedy, you do not waive your right to later consider the event a default and to use any remedies if
the default continues or occurs again. 

9. COLLECTION EXPENSES AND ATTORNEYS' FEES.    On or after Default, to the extent permitted by law, I agree to pay all expenses of collection,
enforcement or protection of your rights and remedies under this Agreement. Expenses include, but are not limited to, attorneys' fees, court costs and other legal expenses. These expenses are due and
payable immediately. If not paid immediately, these expenses will bear interest from the date of payment until paid in full at the highest interest rate in effect as provided for in the terms of this
Loan. All fees and expenses will be secured by the Property I have granted to you, if any. To the extent permitted by the United States Bankruptcy Code, I agree to pay the reasonable attorneys' fees
you incur to collect this debt as awarded by any court exercising jurisdiction under the Bankruptcy Code. 

10. APPLICABLE LAW.    This Agreement is governed by the laws of Kansas, the United States of America and to the extent required, by the laws of
the jurisdiction where the Property is located. In the event of a dispute, the exclusive forum, venue and place of jurisdiction will be in Kansas, unless otherwise required by law. 

11. JOINT AND INDIVIDUAL LIABILITY AND SUCCESSORS.    My obligation to pay this Loan is independent of the obligation of any other person who
has also agreed to pay it. You may sue me alone, or anyone else who is obligated on this Loan, or any number of us together, to collect this Loan. Extending this Loan or new obligations under this
Loan, will not affect my duty under this Loan and I will still be obligated to pay this Loan. The duties and benefits of this Loan will bind and benefit the successors and assigns of you and me. 

12. AMENDMENT, INTEGRATION AND SEVERABILITY.    This Agreement may not be amended or modified by oral agreement. No amendment or modification of
this Agreement is effective unless made in writing and executed by you and me. This Agreement is the complete and final expression of the understanding between you and me. If any provision of this
Agreement is unenforceable, then the unenforceable provision will be severed and the remaining provisions will still be enforceable. 

13. INTERPRETATION.    Whenever used, the singular includes the plural and the plural includes the singular. The section headings are for
convenience only and are not to be used to interpret or define the terms of this Agreement. 

14. NOTICE, FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS.    Unless otherwise required by law, any notice will be given by delivering. or mailing
it by first class mail to the appropriate party's address listed in the DATE AND PARTIES section, or to any other address designated in writing. Notice to one party will be deemed to be notice to all
parties. I will inform you in writing of any change in my name, address or other application information. I will provide you any financial statement or information you request. All financial
statements and information I give you will be correct and complete. I agree to sign, deliver, and file any additional documents or certifications that you may consider necessary to perfect, continue,
and preserve my obligations under this Loan and to confirm your lien status on any Property. Time is of the essence. 

THIS WRITTEN AGREEMENT IS THE FINAL EXPRESSION OF THE AGREEMENT BETWEEN YOU AND LENDER, AND AS SUCH IT MAY NOT BE CONTRADICTED BY EVIDENCE OF ANY PRIOR OR CONTEMPORANEOUS ORAL
AGREEMENT.

ADDITIONAL TERMS:  

BY SIGNING OR INITIALING BELOW, BOTH PARTIES AFFIRM THAT NO UNWRITTEN ORAL AGREEMENT BETWEEN THEM EXISTS.

LENDER:  

Gold Bank  

/s/
Julie L. Hook, Vice President 

BORROWER:  

EPIQ Systems, Inc.  

/s/
Tom W. Olofson, CEO 

15. SIGNATURES.    By signing, I agree to the terms contained in this Agreement. I also acknowledge receipt of a copy of this Agreement. 

BORROWER:  

EPIQ Systems, Inc.  

/s/
Tom W. Olofson, CEO 

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QuickLinks

Exhibit 10.1

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