Document:

Employment Agreement for Ronald Hosking

     

    Exhibit
      4.3

    

      

      EMPLOYMENT
        AGREEMENT

       

      THIS
        AGREEMENT
        made as of the 2 day of February, 2006

       

      B
        E T W E E N:

       

      PREMD
        INC.,
        a corporation existing under the laws of Canada

      

      (hereinafter
        called “PMD”)

       

      -
        and -

       

      RON
        HOSKING,
        of the City of Toronto, in the Province of Ontario

       

      (hereinafter
        called the “Employee”).

       

      WHEREAS
        PMD and the Employee wish to enter into a written agreement which contains
        the
        agreed upon terms and conditions of employment for their mutual
        benefit;

       

      NOW
        THEREFORE
        in consideration of the mutual covenants and agreements contained in this
        agreement and for other good and valuable consideration, the adequacy of
        which
        is hereby acknowledged, the parties to this agreement do mutually covenant
        and
        agree as follows:

       

      ARTICLE
        1 - DUTIES OF EMPLOYMENT

       

      1.1     Position
        -
        PMD agrees to continue to employ the Employee in the position of Vice President,
        Corporate Development, to serve in such capacity as PMD’s needs may, from time
        to time, require and as are made known to him by PMD or its authorized
        representatives. In this capacity, the Employee shall perform such services
        as
        are required from time to time by the Chief Executive Officer or Board of
        Directors of PMD (the “Board”)
        provided, however, that without the Employee’s prior written consent, the
        Employee shall not be required to perform services other than those comparable
        in scope and dignity to those the Employee is presently performing.

       

      1.2     Duties
        -
        The Employee accepts the office on the terms and conditions set forth in
        this
        Agreement and acknowledges that as Vice President and Chief Financial Officer
        and he has the responsibility for all financial operations, controls and
        reporting for the business of PMD, subject to the authority of the Chief
        Executive Officer of PMD and the Board. Throughout the term of 

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      his
        employment, the Employee agrees to devote substantially all of his business
        time
        and effort to carry out the performance of his duties under this Agreement
        and
        shall conform to all lawful instructions and directions given to him by the
        Chief Executive Officer or the Board, or its authorized designees, and obey
        and
        carry out the by-laws of PMD, as well as all written rules, policies and
        practices now or hereafter established and amended from time to time by PMD
        for
        the conduct of its affairs and brought to the attention of the
        Employee.

       

       

      ARTICLE
        II - TERMS OF EMPLOYMENT

       

      2.1     Term
        -
        The provisions of the Agreement shall have effect from the date hereof and
        shall
        continue in effect indefinitely or until terminated in accordance with the
        provisions of this Agreement.

       

      ARTICLE
        III - EMPLOYEE’S COMPENSATION AND BENEFITS

       

      3.1     Compensation
        -
        The annual base salary payable to the Employee for the Employee’s services
        hereunder for the term of this Agreement shall be $185,400 (gross), exclusive
        of
        bonuses, benefits and other compensation. The annual base salary payable
        to the
        Employee pursuant to the provisions of this Article III shall be payable
        in
        equal monthly instalments, in arrears, in accordance with existing practice,
        or
        in such other manner as may be mutually agreed upon, less, in any case, any
        deductions or withholdings required by law.

       

      3.2     Salary
        Review
        -
        The Employee’s salary and benefits shall be as stated in Article III but shall
        be reviewed on January 1, 2007 and annually thereafter during the term of
        this
        Agreement and any renewal of this Agreement.

       

      3.3     Vacation
        -
        The Employee shall be entitled to vacation with pay of four (4) weeks during
        each calendar year of this Agreement. The Employee’s paid vacation is to be
        taken at a time approved in advance by the Chief Executive Officer of PMD
        or the
        Board, which approval shall not be unreasonably withheld but shall take into
        account the staffing requirements of PMD and the need for the timely performance
        of the Employee’s responsibilities. A maximum of five days of vacation not taken
        in one year may be carried over into the subsequent year and any unused vacation
        days above such five days shall expire at the end of the applicable
        year.

       

      3.4     Benefits
        -
        The Employee shall participate in all benefit plans which PMD provides to
        its
        Employees, including extended health, medical and dental. In the event that
        such
        benefit plans include additional benefits and/or coverage for executives,
        then
        the Employee shall be entitled to such additional benefits.

       

      3.5     Additional
        Compensation
        -
        The Employee shall also receive bonuses and options (or other forms of long
        term
        compensation) to purchase shares of PMD as may be granted by the Board, in
        their
        discretion, from time to time.

       

      3.6     Expenses
        -
        PMD shall reimburse the Employee forthwith for all proper and reasonable
        out-of-pocket expenses actually incurred by the Employee in the performance
        of
        his duties upon presentation of supporting statements, receipts or vouchers.
        Subject to the provisions of PMD’s 

       

       

      
        
          
          

        

        
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      governing
        corporate legislation, PMD agrees to indemnify and save the Employee harmless
        from and against any and all demands, claims, costs, charges and expenses,
        including an amount paid to settle an action or satisfy a judgment, reasonably
        incurred by him in respect of any civil, criminal or administrative action
        or
        proceeding to which the Employee is made a party by reason of having been
        a
        director or officer of PMD or of any affiliated company, whether before or
        after
        termination if:

       

      
        	
                (a)

                 

              	
                the
                  Employee acted honestly and in good faith with a view to the best
                  interests of PMD; and

                 

              
	
                (b)

                 

              	
                in
                  the case of a criminal or administrative action or proceeding that
                  is
                  enforced by a monetary penalty, the Employee had reasonable grounds
                  for
                  believing that his conduct was lawful.

                 

              

      

       

      ARTICLE
        IV - TERMINATION

       

      4.1     Notwithstanding
        anything contained in this Agreement, PMD and the Employee agree that this
        Agreement and the employment of the Employee may be terminated as
        follows:

       

      
        	
                (a)

                 

              	
                immediately
                  by PMD at its option, at any time, and without notice or pay in
                  lieu of
                  such notice, for cause. For the purposes of this Agreement, “cause” shall
                  include the following:

                 

              

      

      

       

      
        	
                (i)

                 

              	
                a
                  material breach by the Employee of the provisions of Article V
                  at any
                  time;

                 

              
	
                (ii)
                  

                 

              	
                conviction
                  of the Employee of a criminal offence punishable by indictment,
                  or summary
                  conviction where such conviction brings into question the Employee’s
                  ability to perform his duties under this Agreement honestly and
                  effectively or where such conviction could adversely affect the
                  reputation
                  and goodwill of PMD; and

                 

              
	
                (iii)

                 

              	
                in
                  the event of death or any “disability”, as such term is defined in any
                  disability insurance policy of PMD or if no such policy is in place,
                  disability shall mean mental or physical disability or serious
                  illness of
                  the Employee which results in the Employee being unable to substantially
                  perform his duties for a continuous period of 180 days or for periods
                  aggregating 225 days in any period of 365 days;

                 

              

      

      

      
        	
                (b)

                 

              	
                at
                  any time by PMD, without cause by paying, in lieu of notice, an
                  amount
                  equal to 12 months of the Employee’s then current (i) annual salary; and
                  (ii) benefits as contemplated in section 3.4; and (iii) additional
                  compensation as contemplated in section 3.5, all payable in accordance
                  with, and subject to the reduction contained in, Section 4.2
                  herein;

                 

              
	
                (c)

                 

              	
                by
                  the Employee, upon prior written notice to PMD at any time after
                  90 days
                  and before 180 days, after the Change of Control of PMD in which
                  case PMD
                  shall 

              

      

       

       

      
        
          
          

        

        
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            3 -

          
            

          

        

        
          
          

        

      

       

      
        	 	
                pay to the Employee an amount equal to 12 months
                  of the
                  Employee’s then current annual salary, payable immediately;
                  or

                 

              
	
                (d)

              	
                at
                  any time by the Employee upon 60 days written notice to
                  PMD.

              

      

       

      For
        the purposes of this Section 4.1,

       

      “Associate”
        and “Affiliate” have the meanings ascribed thereto by the Securities
        Act (Ontario)
        as at the date hereof;

       

      “Concert
        Parties” means, in relation to any person, all other persons acting jointly or
        in concert with such person. For the purposes hereof, it is a question of
        fact
        as to whether a person is acting jointly or in concert with another person
        in
        relation to PMD. Without limiting the generality of the foregoing, the following
        shall be deemed to be acting jointly or in concert with a particular
        person:

       

      
        	
                (i)

                 

              	
                every
                  person who, as a result of any agreement, commitment or understanding,
                  whether formal or informal, with the particular person or with
                  any other
                  person acting jointly or in concert with the particular person,
                  acquires
                  or offers to acquire securities of PMD;

                 

              
	
                (ii)

                 

              	
                every
                  person who, as a result of any agreement, commitment or understanding,
                  whether formal or informal, with the particular person or with
                  any other
                  person acting jointly or in concert with the particular person,
                  intends to
                  exercise jointly or in concert with the particular person or with
                  any
                  other person acting jointly or in concert with the particular person
                  any
                  voting rights attaching to any securities of PMD; and

                 

              
	
                (iii)

              	
                every
                  associate or affiliate of the particular person or of any person
                  who is
                  acting jointly or in concert with the particular person;
                  and

              

      

       

      “Change
        of Control” of PMD shall have occurred if:

       

      
        	
                (i)

                 

              	
                any
                  person (other than the Employee) and the Concert Parties thereof
                  beneficially own more than 50% of the outstanding shares of PMD
                  entitled
                  to vote generally in the election of directors of PMD; or

                 

              
	
                (ii)

                 

              	
                PMD
                  completes (A) a merger or other business combination of PMD with
                  or into
                  another corporation unless after giving effect thereto the shareholders
                  of
                  PMD own shares of the successor corporation carrying more than
                  50% of the
                  votes in the election of directors; or (B) a sale, exchange or
                  other
                  disposition of all or substantially all of the assets of
                  PMD.

              

      

       

      4.2     Payment
        of Termination Amount.
        The amounts payable to the Employee as contemplated in subsection 4.1(b)
        above
        shall be paid in 12 equal monthly instalments over an 11 month period beginning
        30 days after the date of termination provided, however, that if the Employee
        obtains comparable alternative employment during such 11 month period, the
        monthly instalments beginning on the later of:

       

      
        	
                (a)

              	
                the
                  date of the commencement of such comparable alternative employment;
                  and

              

      

       

       

      
        
          
          

        

        
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                (b)

              	
                the
                  date which is six months after the date of
                  termination

              

      

       

                 
        shall be reduced by 50% (except with respect to benefits which will not be
        reduced).

       

      For
        the purposes of this Section 4.2, “comparable alternative employment” shall mean
        any form of remunerative activity in the nature of employment, whether as
        employee, consultant, agent, partner, sole proprietor or otherwise with similar
        responsibilities and remuneration.

       

      4.3      Effect
        of Termination

       

      
        	
                (a)

                 

              	
                Upon
                  termination of this Agreement, the employment of the Employee shall
                  be
                  automatically terminated and the Employee shall have no claims
                  against PMD
                  for failure to give reasonable notice of termination or otherwise
                  except
                  in respect of payment of salary or accrued vacation pay to the
                  date of
                  termination and payments specifically provided for herein.

                 

              
	
                (b)

                 

              	
                Upon
                  termination of employment, the Employee shall immediately resign
                  all
                  offices (including directorships) held in PMD and the Employee
                  shall not
                  be entitled to receive any additional severance pay or compensation
                  for
                  loss of office or otherwise by reason of resignation (other than
                  as
                  otherwise provided for herein). If the Employee fails to resign
                  as
                  mentioned, PMD is irrevocably authorized to appoint some person
                  in the
                  Employee’s name and on his behalf to sign any documents or do any thing
                  necessary or requisite to give effect to it.

                 

              
	
                (c)

              	
                If
                  the Employee is terminated without cause or if the Employee terminates
                  this Agreement pursuant to subsection 4.1 (c) above, all options
                  to
                  acquire shares of PMD held by the Employee shall immediately and
                  automatically become fully vested and shall be exercisable by the
                  Employee
                  within the time period which is 30 days from the date of such termination
                  and, after such 30 day period, all unexercised options held by
                  the
                  Employee shall expire and shall be cancelled by
                  PMD.

              

      

       

      
        	
                (d)

                 

              	
                If
                  the Employee is terminated with cause, all options, whether vested
                  or
                  otherwise, shall immediately expire and shall be cancelled at the
                  date of
                  such termination.

                 

              
	
                (e)

                 

              	
                The
                  provisions of subsections (c) and (d) above shall apply to all
                  options to
                  acquire shares of PMD granted previously or hereafter to the Employee
                  unless the terms of such options specifically state that such subsections
                  do not apply.

                 

              

      

       

      4.4      Property
        of PMD

       

      The
        Employee acknowledges that all items of any and every nature or kind created
        or
        used by the Employee pursuant to the Employee’s employment under this Agreement,
        or furnished by PMD to the Employee, and all equipment, credit cards, books,
        records, reports, files, manuals, literature, confidential information or
        other
        materials shall remain and be considered the exclusive property of PMD at
        all
        times and shall be surrendered to PMD, in good condition, promptly on the
        termination of the Employee’s employment irrespective of the time, manner or

       

       

      
        
          
          

        

        
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      cause
        of termination. All personal effects used by the Employee in carrying out
        his
        duties will remain the property of the Employee and shall be removed by him
        on
        termination of his employment.

       

      ARTICLE
        V - CONFIDENTIAL INFORMATION AND NON-COMPETITION

       

      5.1     Confidential
        Information

       

      
        	
                (a)

                 

              	
                The
                  Employee acknowledges that throughout the course of his employment
                  with
                  PMD the Employee may have access to and be entrusted with confidential
                  information, trade secrets and know-how concerning the business
                  and
                  property of PMD and with information, trade secrets and know-how
                  which
                  other persons shall require PMD and its employees, agents and consultants
                  to treat as confidential (all of which information, trade secrets
                  and
                  know-how of PMD and others shall be collectively defined as “Confidential
                  Information”).

                 

              
	
                (b)

                 

              	
                The
                  Employee agrees that disclosure of any of the Confidential Information
                  or
                  any use of the Confidential Information other than on behalf of
                  or for the
                  direct benefit of PMD is and will be highly detrimental to PMD
                  and that
                  the right to maintain the confidentiality of the Confidential Information
                  constitutes a proprietary right which PMD is entitled to protect
                  or is an
                  obligation which PMD must observe. Accordingly, the Employee hereby
                  agrees
                  that:

              

      

       

      
        	
                (i)

                 

              	
                he
                  shall keep confidential all of the Confidential Information for
                  the
                  exclusive benefit and use of PMD and will faithfully do all in
                  his power
                  to assist PMD in keeping the Confidential Information confidential
                  until
                  PMD shall make the same public either by obtaining patent rights,
                  copyrights or otherwise;

                 

              
	
                (ii)

                 

              	
                he
                  shall not, directly or indirectly, disclose or divulge any of the
                  Confidential Information to any person, firm, corporation or other
                  entity
                  of any kind whatsoever;

                 

              
	
                (iii)

                 

              	
                he
                  shall not, directly or indirectly, either individually or in partnership
                  with, or jointly with one or more persons, firms, corporations
                  or any
                  other entity of any kind whatsoever as principal, agent, employee,
                  shareholder or in any other capacity or manner whatsoever, use
                  any of the
                  Confidential Information other than on behalf of or for the direct
                  benefit
                  of PMD;

                 

              
	
                (iv)

                 

              	
                he
                  shall not divulge, disclose or communicate to any person, firm
                  or
                  corporation the name of any customer of PMD and/or the Business
                  (as
                  hereinafter defined); and

                 

              
	
                (v)

              	
                he
                  shall not use for his own purpose any Confidential Information
                  relating to
                  PMD and/or the Business.

              

      

       

       

      
        
          
          

        

        
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                (c)

              	
                The
                  Employee acknowledges that the restrictions contained herein for
                  the
                  benefit of PMD are reasonable and not excessive in the circumstances
                  of
                  the Employee’s knowledge and the scope of his
                  employment.

              

      

       

      5.2     Non-Competition
        -The Employee agrees that the Employee will not, without the prior written
        consent of PMD, while employed by PMD and for a period of one (1) year after
        the
        date of termination as contemplated in subsections 4.1(a), (b) or
        (d):

       

      
        	
                (a)

                 

              	
                directly
                  or indirectly, in any manner whatsoever, including, without limitation,
                  either individually or in partnership or jointly, or in conjunction
                  with
                  any other person or persons, firm, association, syndicate, company
                  or
                  corporation, as principal, agent, shareholder or in any other manner
                  whatsoever, carry on or be engaged in any business directly competitive
                  with the business of PMD (the “Business”)
                  in any country where PMD operates, or be concerned with or interested
                  in
                  or lend money to, guarantee the debts or obligations of or permit
                  his name
                  or any part thereof to be used or employed by any person, persons,
                  firm,
                  association, syndicate, company or corporation engaged in, concerned
                  with
                  or interested in any directly competitive business except that
                  the
                  Employee may own no more than 5% of the total issued and outstanding
                  capital stock of a publicly-held or private corporation engaged
                  in,
                  concerned with or interested in any directly competitive
                  business;

                 

              
	
                (b)

                 

              	
                directly
                  or indirectly solicit, interfere with or endeavour to direct or
                  entice
                  away from PMD any customer or any person, firm or corporation in
                  the habit
                  of dealing with PMD, and/or the Business; or

                 

              
	
                (c)

                 

              	
                interfere
                  with, entice away or otherwise attempt to obtain the withdrawal
                  of any
                  employee or independent contractor of PMD or, following termination
                  of the
                  Employee’s employment, any employee who was in the employ of PMD during
                  the one (1) year period, as the case may be, preceding termination
                  for
                  cause.

              

      

       

      5.3     The
        Employee hereby acknowledges and agrees that all covenants, provisions and
        restrictions contained in this Article V hereof are reasonable and valid
        and all
        defences to the strict enforcement thereof by PMD are waived by the
        Employee.

       

      5.4     The
        Employee further acknowledges and agrees that in the event of a violation
        of the
        covenants, provisions and restrictions contained in this Article V, PMD shall
        be
        authorized and entitled to obtain from any court of competent jurisdiction
        preliminary and permanent injunctive relief and an accounting of all profits
        and
        benefits arising out of such violation, which rights and remedies shall be
        cumulative and in addition to any other rights or remedies to which PMD may
        be
        entitled.

       

      5.5     It
        is understood by the Parties hereto that the covenants in this Article V
        by the
        Employee not to enter into competition with PMD are essential elements to
        this
        Agreement and that, but for the agreement of the Employee to enter into such
        covenants, PMD would not have retained the Employee.

       

       

      
        
          
          

        

        
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      ARTICLE
        VI - CLAUSES SURVIVING TERMINATION

       

      6.1     Any
        confidentiality and non-solicitation clauses in Article V of this Agreement
        shall survive the termination of this Agreement, as shall Sections 3.6, 4.3
        and
        4.4 hereof.

       

      ARTICLE
        VII - PLAIN ENGLISH

       

      7.1     This
        Agreement is intended to be written in plain English. When words or expressions
        of a general nature are employed herein, it is intended that they be
        comprehensive, unless the context clearly dictates otherwise.

       

      ARTICLE
        VIII - GENERAL

       

      8.1     General
        -
        Any notice, document or other communication required or permitted to be given
        in
        respect of this Agreement shall be sufficiently given if delivered to the
        party
        personally, or if sent by prepaid ordinary mail posted in Canada, by courier,
        or
        by facsimile, to such party addressed as follows:

       

      if
        to PMD:

       

      PreMD
        Inc.

      4211
        Yonge Street

      Suite
        615

      Toronto,
        Ontario M2P 2A9

       

      Facsimile
        No: (416) 222-4533

       

      Attention:
        Chief Executive Officer

       

      if
        to the EMPLOYEE:

       

      Ron
        Hosking

      30
        Hatherton Cr.

      Don
        Mills, Ontario

      M3A
        1P7

      

       

      Any
        party may at any time change its address hereunder by giving notice of such
        change of address to the other party or parties in the manner specified in
        this
        paragraph. Any such notice or other written communication shall, if mailed
        or
        sent by courier, be effective on the day it is delivered or an attempt is
        made
        to deliver it to the address of the addressee and, if given by personal
        delivery, shall be effective on the day of actual delivery.

       

      8.2     Severability
        -
        If any covenant, provision or restriction contained in this Agreement is
        found
        to be void or unenforceable in whole or in part, it shall not affect or impair
        the validity of any other covenant, provision or restriction and without
        limitation, each of the covenants, 

       

       

      
        
          
          

        

        
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      provisions
        and restrictions contained herein are hereby declared to be separate and
        distinct covenants, provisions and restrictions.

       

      8.3     Waiver
        of Performance
        -
        The Employee and PMD may, in writing, extend the time for performance or
        waive
        non-compliance or non-performance by the other of the other’s obligations,
        covenants and agreements under this Agreement. No act or failure to act of
        the
        Employee or PMD shall be deemed to be an extension or waiver of timely or
        strict
        performance by the other of his/its obligations, covenants and agreements
        under
        this Agreement.

       

      8.4     Governing
        Law
        -
        This Agreement shall be governed by and construed in accordance with the
        laws of
        the Province of Ontario and the law of Canada applicable therein and each
        of the
        parties hereby irrevocably attorn to the jurisdiction of the courts of the
        Province of Ontario.

       

      8.5     Entire
        Agreement
        -
        This Agreement set forth the entire agreement among the parties hereto
        pertaining to the employment of the Employee and supersedes all prior
        agreements, understanding, negotiations and discussions, whether oral or
        written, of the parties hereto, among the parties hereto, and there are no
        warranties, representations or other agreements between the parties hereto
        in
        connection with the subject matter hereof except as specifically set forth
        therein. No supplement, modification, waiver or termination of this Agreement
        shall be binding unless executed in writing by the parties to be bound
        thereby.

       

      8.6     Assignment
        -
        This Agreement is personal to the Employee and may not be assigned by him
        without the prior written consent of PMD, which consent may be unreasonably
        withheld. This Agreement may not be assigned by PMD without the prior written
        consent of the Employee, which consent may be unreasonably withheld. Subject
        to
        the foregoing, this Agreement shall enure to the benefit of and be binding
        upon
        the Parties and their respective successors, heirs, executors, administrators,
        personal representatives and permitted assigns.

       

      8.7     Headings
        -
        The headings used in this Agreement are for convenience only and are not
        to be
        construed in any way as additions to or limitations of the covenants and
        agreements contained herein.

       

      8.8     Currency
        -
        All dollar amounts referred to in this Agreement shall be in Canadian
        funds.

       

      8.9     Time
        of Essence
        -
        Time is and shall always remain the essence of this Agreement.

       

      

       

      [the
        remainder of this page is left intentionally blank]

       

       

       

      
        
          
          

        

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

       

      
              
          PreMD Inc.

      

       

      
        	 	 Per:	
                             
                  “signed”                                                   

                Name: Brent Norton

                Title: President and Chief Executive
                  Officer

                Authorized Signing Officer

              
	
                 SIGNED, SEALED AND
                  DELIVERED             
                  )

                              
                  In the presence
                  of:                                
                  )

                                                                                           )

                                  
                   “signed”                                           
                  )

                Witness Leslie Anderson

              	 	
                 

                 

                 

                “signed”                                          

                
                  RON
                    HOSKING

                

              

      

       

       

       

      

      

      

       

       

      -
        10
        -Employment Agreement for Tim Currie

     

    Exhibit
      4.4

    

    EMPLOYMENT
      AGREEMENT

     

    THIS
      AGREEMENT
      made as of the 10 day of January, 2006

     

    B
      E T W E E N:

     

    PREMD
      INC.,
      a corporation existing under the laws of Canada

    

    (hereinafter
      called “PMD”)

     

    -
      and -

     

    TIM
      CURRIE,
      of the City of Toronto, in the Province of Ontario

     

    (hereinafter
      called the “Employee”).

     

    WHEREAS
      PMD and the Employee wish to enter into a written agreement which contains
      the
      agreed upon terms and conditions of employment for their mutual
      benefit;

     

    NOW
      THEREFORE
      in consideration of the mutual covenants and agreements contained in this
      agreement and for other good and valuable consideration, the adequacy of which
      is hereby acknowledged, the parties to this agreement do mutually covenant
      and
      agree as follows:

     

    ARTICLE
      1 - DUTIES OF EMPLOYMENT

     

    1.1     Position
      -
      PMD agrees to continue to employ the Employee in the position of Vice President,
      Corporate Development, to serve in such capacity as PMD’s needs may, from time
      to time, require and as are made known to him by PMD or its authorized
      representatives. In this capacity, the Employee shall perform such services
      as
      are required from time to time by the Chief Executive Officer or Board of
      Directors of PMD (the “Board”)
      provided, however, that without the Employee’s prior written consent, the
      Employee shall not be required to perform services other than those comparable
      in scope and dignity to those the Employee is presently performing.

     

    1.2     Duties
      -
      The Employee accepts the office on the terms and conditions set forth in this
      Agreement and acknowledges that as Vice President, Corporate Development, he
      has
      the responsibility for the acquisition and licensing of new technologies,
      companies, project management, logistics and the operations of
      the business of PMD, subject to the authority 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    of
      the Chief Executive Officer of PMD and the Board. Throughout the term of his
      employment, the Employee agrees to devote substantially all of his business
      time
      and effort to carry out the performance of his duties under this Agreement
      and
      shall conform to all lawful instructions and directions given to him by the
      Chief Executive Officer or the Board, or its authorized designees, and obey
      and
      carry out the by-laws of PMD, as well as all written rules, policies and
      practices now or hereafter established and amended from time to time by PMD
      for
      the conduct of its affairs and brought to the attention of the
      Employee.

     

    ARTICLE
      II - TERMS OF EMPLOYMENT

     

    2.1     Term
      -
      The provisions of the Agreement shall have effect from the date hereof and
      shall
      continue in effect indefinitely or until terminated in accordance with the
      provisions of this Agreement.

     

    ARTICLE
      III - EMPLOYEE’S COMPENSATION AND BENEFITS

     

    3.1     Compensation
      -
      The annual base salary payable to the Employee for the Employee’s services
      hereunder for the term of this Agreement shall be $185,400 (gross), exclusive
      of
      bonuses, benefits and other compensation. The annual base salary payable to
      the
      Employee pursuant to the provisions of this Article III shall be payable in
      equal monthly instalments, in arrears, in accordance with existing practice,
      or
      in such other manner as may be mutually agreed upon, less, in any case, any
      deductions or withholdings required by law.

     

    3.2     Salary
      Review
      -
      The Employee’s salary and benefits shall be as stated in Article III but shall
      be reviewed on January 1, 2006 and annually thereafter during the term of this
      Agreement and any renewal of this Agreement.

     

    3.3     Vacation
      -
      The Employee shall be entitled to vacation with pay of four (4) weeks during
      each calendar year of this Agreement. The Employee’s paid vacation is to be
      taken at a time approved in advance by the Chief Executive Officer of PMD or
      the
      Board, which approval shall not be unreasonably withheld but shall take into
      account the staffing requirements of PMD and the need for the timely performance
      of the Employee’s responsibilities. A maximum of five days of vacation not taken
      in one year may be carried over into the subsequent year and any unused vacation
      days above such five days shall expire at the end of the applicable
      year.

     

    3.4     Benefits
      -
      The Employee shall participate in all benefit plans which PMD provides to its
      Employees, including extended health, medical and dental. In the event that
      such
      benefit plans include additional benefits and/or coverage for executives, then
      the Employee shall be entitled to such additional benefits.

     

    3.5     Additional
      Compensation
      -
      The Employee shall also receive bonuses and options (or other forms of long
      term
      compensation) to purchase shares of PMD as may be granted by the Board, in
      their
      discretion, from time to time.

     

    3.6     Expenses
      -
      PMD shall reimburse the Employee forthwith for all proper and reasonable
      out-of-pocket expenses actually incurred by the Employee in the performance
      of
      his duties upon 

     

     

    
      
        
        

      

      
        -
          2 -

        
          

        

      

      
        
        

      

    

     

    presentation
      of supporting statements, receipts or vouchers. Subject to the provisions of
      PMD’s governing corporate legislation, PMD agrees to indemnify and save the
      Employee harmless from and against any and all demands, claims, costs, charges
      and expenses, including an amount paid to settle an action or satisfy a
      judgment, reasonably incurred by him in respect of any civil, criminal or
      administrative action or proceeding to which the Employee is made a party by
      reason of having been a director or officer of PMD or of any affiliated company,
      whether before or after termination if:

     

    
      	
              (a)

               

            	
              the
                Employee acted honestly and in good faith with a view to the best
                interests of PMD; and

               

            
	
              (b)

            	
              in
                the case of a criminal or administrative action or proceeding that
                is
                enforced by a monetary penalty, the Employee had reasonable grounds
                for
                believing that his conduct was
                lawful.

            

    

     

     

    ARTICLE
      IV - TERMINATION

     

    4.1     Notwithstanding
      anything contained in this Agreement, PMD and the Employee agree that this
      Agreement and the employment of the Employee may be terminated as
      follows:

     

    
      	
              (a)

            	
              immediately
                by PMD at its option, at any time, and without notice or pay in lieu
                of
                such notice, for cause. For the purposes of this Agreement, “cause” shall
                include the following:

            

    

    

     

    
      	
              (i)

               

            	
              a
                material breach by the Employee of the provisions of Article V at
                any
                time;

               

            
	
              (ii)
                

               

            	
              conviction
                of the Employee of a criminal offence punishable by indictment, or
                summary
                conviction where such conviction brings into question the Employee’s
                ability to perform his duties under this Agreement honestly and
                effectively or where such conviction could adversely affect the reputation
                and goodwill of PMD; and

               

            
	
              (iii)

               

            	
              in
                the event of death or any “disability”, as such term is defined in any
                disability insurance policy of PMD or if no such policy is in place,
                disability shall mean mental or physical disability or serious illness
                of
                the Employee which results in the Employee being unable to substantially
                perform his duties for a continuous period of 180 days or for periods
                aggregating 225 days in any period of 365
                days;

            

    

    

     

    
      	
              (b)

               

            	
              at
                any time by PMD, without cause by paying, in lieu of notice, an amount
                equal to 18 months of the Employee’s then current (i) annual salary; and
                (ii) benefits as contemplated in section 3.4; and (iii) additional
                compensation as contemplated in section 3.5, all payable in accordance
                with, and subject to the reduction contained in, Section 4.2
                herein;

               

            

    

     

     

    
      
        
        

      

      
        -
          3 -

        
          

        

      

      
        
        

      

    

     

    
      	
              (c)

               

            	
              by
                the Employee, upon prior written notice to PMD at any time after
                90 days
                and before 180 days, after the Change of Control of PMD in which
                case PMD
                shall pay to the Employee an amount equal to 12 months of the Employee’s
                then current annual salary, payable immediately; or

               

            
	
              (d)

               

            	
              at
                any time by the Employee upon 60 days written notice to PMD.

               

            

    

     

    For
      the purposes of this Section 4.1,

     

    “Associate”
      and “Affiliate” have the meanings ascribed thereto by the Securities
      Act (Ontario)
      as at the date hereof;

     

    “Concert
      Parties” means, in relation to any person, all other persons acting jointly or
      in concert with such person. For the purposes hereof, it is a question of fact
      as to whether a person is acting jointly or in concert with another person
      in
      relation to PMD. Without lPMDting the generality of the foregoing, the following
      shall be deemed to be acting jointly or in concert with a particular
      person:

     

    
      	
              (i)

               

            	
              every
                person who, as a result of any agreement, commitment or understanding,
                whether formal or informal, with the particular person or with any
                other
                person acting jointly or in concert with the particular person, acquires
                or offers to acquire securities of PMD;

               

            
	
              (ii)

               

            	
              every
                person who, as a result of any agreement, commitment or understanding,
                whether formal or informal, with the particular person or with any
                other
                person acting jointly or in concert with the particular person, intends
                to
                exercise jointly or in concert with the particular person or with
                any
                other person acting jointly or in concert with the particular person
                any
                voting rights attaching to any securities of PMD; and

               

            
	
              (iii)

            	
              every
                associate or affiliate of the particular person or of any person
                who is
                acting jointly or in concert with the particular person;
                and

            

    

     

    “Change
      of Control” of PMD shall have occurred if:

     

    
      	
              (i)

               

            	
              any
                person (other than the Employee) and the Concert Parties thereof
                beneficially own more than 50% of the outstanding shares of PMD entitled
                to vote generally in the election of directors of PMD; or

               

            
	
              (ii)

               

            	
              PMD
                completes (A) a merger or other business combination of PMD with
                or into
                another corporation unless after giving effect thereto the shareholders
                of
                PMD own shares of the successor corporation carrying more than 50%
                of the
                votes in the election of directors; or (B) a sale, exchange or other
                disposition of all or substantially all of the assets of
                PMD.

            

    

     

    4.2     Payment
      of Termination Amount.
      The amounts payable to the Employee as contemplated in subsection 4.1(b) above
      shall be paid in 12 equal monthly instalments over an 11 month period beginning
      30 days after the date of termination provided, however, that if the Employee
      obtains alternative employment during such 11 month period, the monthly
      instalments beginning on the later of:

     

     

    
      
        
        

      

      
        -
          4 -

        
          

        

      

      
        
        

      

    

     

    
      	
              (a)

               

            	
              the
                date of the commencement of such comparable alternative employment;
                and

               

            
	
              (b)

            	
              the
                date which is six months after the date of
                termination

            

    

    

              
      shall be reduced by 50% (except with respect to benefits which will not be
      reduced).

     

    For
      the purposes of this Section 4.2, “comparable alternative employment” shall mean
      any form of remunerative activity in the nature of employment, whether as
      employee, consultant, agent, partner, sole proprietor or otherwise with similar
      responsibilities and remuneration.

     

    4.3     Effect
      of Termination

     

    
      	
              (a)

               

            	
              Upon
                termination of this Agreement, the employment of the Employee shall
                be
                automatically terminated and the Employee shall have no claims against
                PMD
                for failure to give reasonable notice of termination or otherwise
                except
                in respect of payment of salary or accrued vacation pay to the date
                of
                termination and payments specifically provided for herein.

               

            
	
              (b)

               

            	
              Upon
                termination of employment, the Employee shall immediately resign
                all
                offices (including directorships) held in PMD and the Employee shall
                not
                be entitled to receive any additional severance pay or compensation
                for
                loss of office or otherwise by reason of resignation (other than
                as
                otherwise provided for herein). If the Employee fails to resign as
                mentioned, PMD is irrevocably authorized to appoint some person in
                the
                Employee’s name and on his behalf to sign any documents or do any thing
                necessary or requisite to give effect to it.

               

            
	
              (c)

               

            	
              If
                the Employee is terminated without cause or if the Employee terminates
                this Agreement pursuant to subsection 4.1 (c) above, all options
                to
                acquire shares of PMD held by the Employee shall immediately and
                automatically become fully vested and shall be exercisable by the
                Employee
                within the time period which is 30 days from the date of such termination
                and, after such 30 day period, all unexercised options held by the
                Employee shall expire and shall be cancelled by PMD.

               

            

    

    
      	
              (d)

               

            	
              If
                the Employee is terminated with cause, all options, whether vested
                or
                otherwise, shall immediately expire and shall be cancelled at the
                date of
                such termination.

               

            
	
              (e)

               

            	
              The
                provisions of subsections (c) and (d) above shall apply to all options
                to
                acquire shares of PMD granted previously or hereafter to the Employee
                unless the terms of such options specifically state that such subsections
                do not apply.

               

            

    

    

     

    4.4      Property
      of PMD

     

    The
      Employee acknowledges that all items of any and every nature or kind created
      or
      used by the Employee pursuant to the Employee’s employment under this Agreement,
      or furnished by PMD to the Employee, and all equipment, credit cards, books,
      records, reports, files, manuals, literature, confidential information or other
      materials shall remain and be considered the 

     

     

    
      
        
        

      

      
        -
          5 -

        
          

        

      

      
        
        

      

    

     

    exclusive
      property of PMD at all times and shall be surrendered to PMD, in good condition,
      promptly on the termination of the Employee’s employment irrespective of the
      time, manner or cause of termination. All personal effects used by the Employee
      in carrying out his duties will remain the property of the Employee and shall
      be
      removed by him on termination of his employment.

     

    ARTICLE
      V - CONFIDENTIAL INFORMATION AND NON-COMPETITION

     

    5.1     Confidential
      Information

     

    
      	
              (a)

               

            	
              The
                Employee acknowledges that throughout the course of his employment
                with
                PMD the Employee may have access to and be entrusted with confidential
                information, trade secrets and know-how concerning the business and
                property of PMD and with information, trade secrets and know-how
                which
                other persons shall require PMD and its employees, agents and consultants
                to treat as confidential (all of which information, trade secrets
                and
                know-how of PMD and others shall be collectively defined as “Confidential
                Information”).

               

            
	
              (b)

               

            	
              The
                Employee agrees that disclosure of any of the Confidential Information
                or
                any use of the Confidential Information other than on behalf of or
                for the
                direct benefit of PMD is and will be highly detrimental to PMD and
                that
                the right to maintain the confidentiality of the Confidential Information
                constitutes a proprietary right which PMD is entitled to protect
                or is an
                obligation which PMD must observe. Accordingly, the Employee hereby
                agrees
                that:

            

    

     

    
      	
              (i)

               

            	
              he
                shall keep confidential all of the Confidential Information for the
                exclusive benefit and use of PMD and will faithfully do all in his
                power
                to assist PMD in keeping the Confidential Information confidential
                until
                PMD shall make the same public either by obtaining patent rights,
                copyrights or otherwise;

               

            
	
              (ii)

               

            	
              he
                shall not, directly or indirectly, disclose or divulge any of the
                Confidential Information to any person, firm, corporation or other
                entity
                of any kind whatsoever;

               

            
	
              (iii)

               

            	
              he
                shall not, directly or indirectly, either individually or in partnership
                with, or jointly with one or more persons, firms, corporations or
                any
                other entity of any kind whatsoever as principal, agent, employee,
                shareholder or in any other capacity or manner whatsoever, use any
                of the
                Confidential Information other than on behalf of or for the direct
                benefit
                of PMD;

               

            
	
              (iv)

               

            	
              he
                shall not divulge, disclose or communicate to any person, firm or
                corporation the name of any customer of PMD and/or the Business (as
                hereinafter defined); and

               

            
	
              (v)

            	
              he
                shall not use for his own purpose any Confidential Information relating
                to
                PMD and/or the Business.

            

    

     

     

    
      
        
        

      

      
        -
          6 -

        
          

        

      

      
        
        

      

    

     

    
      	
              (c)

               

            	
              The
                Employee acknowledges that the restrictions contained herein for
                the
                benefit of PMD are reasonable and not excessive in the circumstances
                of
                the Employee’s knowledge and the scope of his employment.

               

            

    

     

    5.2     Non-Competition
      -The Employee agrees that the Employee will not, without the prior written
      consent of PMD, while employed by PMD and for a period of one (1) year after
      the
      date of termination as contemplated in subsections 4.1(a), (b) or
      (d):

     

    
      	
              (a)

               

            	
              directly
                or indirectly, in any manner whatsoever, including, without lPMDtation,
                either individually or in partnership or jointly, or in conjunction
                with
                any other person or persons, firm, association, syndicate, company
                or
                corporation, as principal, agent, shareholder or in any other manner
                whatsoever, carry on or be engaged in any business directly competitive
                with the business of PMD (the “Business”)
                in any country where PMD operates, or be concerned with or interested
                in
                or lend money to, guarantee the debts or obligations of or permit
                his name
                or any part thereof to be used or employed by any person, persons,
                firm,
                association, syndicate, company or corporation engaged in, concerned
                with
                or interested in any directly competitive business except that the
                Employee may own no more than 5% of the total issued and outstanding
                capital stock of a publicly-held or private corporation engaged in,
                concerned with or interested in any directly competitive
                business;

               

            

    

    
      	
              b)

               

            	
              directly
                or indirectly solicit, interfere with or endeavour to direct or entice
                away from PMD any customer or any person, firm or corporation in
                the habit
                of dealing with PMD, and/or the Business; or

               

            
	
              (c)

               

            	
              interfere
                with, entice away or otherwise attempt to obtain the withdrawal of
                any
                employee or independent contractor of PMD or, following termination
                of the
                Employee’s employment, any employee who was in the employ of PMD during
                the one (1) year period, as the case may be, preceding termination
                for
                cause.

            

    

     

    5.3     The
      Employee hereby acknowledges and agrees that all covenants, provisions and
      restrictions contained in this Article V hereof are reasonable and valid and
      all
      defences to the strict enforcement thereof by PMD are waived by the
      Employee.

     

    5.4     The
      Employee further acknowledges and agrees that in the event of a violation of
      the
      covenants, provisions and restrictions contained in this Article V, PMD shall
      be
      authorized and entitled to obtain from any court of competent jurisdiction
      preliminary and permanent injunctive relief and an accounting of all profits
      and
      benefits arising out of such violation, which rights and remedies shall be
      cumulative and in addition to any other rights or remedies to which PMD may
      be
      entitled.

     

    5.5     It
      is understood by the Parties hereto that the covenants in this Article V by
      the
      Employee not to enter into competition with PMD are essential elements to this
      Agreement and that, but for the agreement of the Employee to enter into such
      covenants, PMD would not have retained the Employee.

     

     

    
      
        
        

      

      
        -
          7 -

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      VI - CLAUSES SURVIVING TERMINATION

     

    6.1     Any
      confidentiality and non-solicitation clauses in Article V of this Agreement
      shall survive the termination of this Agreement, as shall Sections 3.6, 4.3
      and
      4.4 hereof.

     

    ARTICLE
      VII - PLAIN ENGLISH

     

    7.1     This
      Agreement is intended to be written in plain English. When words or expressions
      of a general nature are employed herein, it is intended that they be
      comprehensive, unless the context clearly dictates otherwise.

     

    ARTICLE
      VIII - GENERAL

     

    8.1     General
      -
      Any notice, document or other communication required or permitted to be given
      in
      respect of this Agreement shall be sufficiently given if delivered to the party
      personally, or if sent by prepaid ordinary mail posted in Canada, by courier,
      or
      by facsPMDle, to such party addressed as follows:

     

    if
      to PMD:

     

    PreMD
      Inc.

    4211
      Yonge Street

    Suite
      615

    Toronto,
      Ontario M2P 2A9

     

    Facsimile
      No: (416) 222-4533

     

    Attention:
      Chief Executive Officer

     

    if
      to the EMPLOYEE:

     

    Tim
      Currie

    152
      Glencairn Avenue, Toronto

    Ontario,
      M4R 1M9

     

    Any
      party may at any time change its address hereunder by giving notice of such
      change of address to the other party or parties in the manner specified in
      this
      paragraph. Any such notice or other written communication shall, if mailed
      or
      sent by courier, be effective on the day it is delivered or an attempt is made
      to deliver it to the address of the addressee and, if given by personal
      delivery, shall be effective on the day of actual delivery.

     

    8.2     Severability
      -
      If any covenant, provision or restriction contained in this Agreement is found
      to be void or unenforceable in whole or in part, it shall not affect or impair
      the validity of any other covenant, provision or restriction and without
      limitation, each of the covenants, provisions and restrictions contained herein
      are hereby declared to be separate and distinct covenants, provisions and
      restrictions.

     

     

    
      
        
        

      

      
        -
          8 -

        
          

        

      

      
        
        

      

    

     

    8.3     Waiver
      of Performance
      -
      The Employee and PMD may, in writing, extend the time for performance or waive
      non-compliance or non-performance by the other of the other’s obligations,
      covenants and agreements under this Agreement. No act or failure to act of
      the
      Employee or PMD shall be deemed to be an extension or waiver of timely or strict
      performance by the other of his/its obligations, covenants and agreements under
      this Agreement.

     

    8.4     Governing
      Law
      -
      This Agreement shall be governed by and construed in accordance with the laws
      of
      the Province of Ontario and the law of Canada applicable therein and each of
      the
      parties hereby irrevocably attorn to the jurisdiction of the courts of the
      Province of Ontario.

     

    8.5     Entire
      Agreement
      -
      This Agreement set forth the entire agreement among the parties hereto
      pertaining to the employment of the Employee and supersedes all prior
      agreements, understanding, negotiations and discussions, whether oral or
      written, of the parties hereto, among the parties hereto, and there are no
      warranties, representations or other agreements between the parties hereto
      in
      connection with the subject matter hereof except as specifically set forth
      therein. No supplement, modification, waiver or termination of this Agreement
      shall be binding unless executed in writing by the parties to be bound
      thereby.

     

    8.6     Assignment
      -
      This Agreement is personal to the Employee and may not be assigned by him
      without the prior written consent of PMD, which consent may be unreasonably
      withheld. This Agreement may not be assigned by PMD without the prior written
      consent of the Employee, which consent may be unreasonably withheld. Subject
      to
      the foregoing, this Agreement shall enure to the benefit of and be binding
      upon
      the Parties and their respective successors, heirs, executors, administrators,
      personal representatives and permitted assigns.

     

    8.7     Headings
      -
      The headings used in this Agreement are for convenience only and are not to
      be
      construed in any way as additions to or lPMDtations of the covenants and
      agreements contained herein.

     

    8.8     Currency
      -
      All dollar amounts referred to in this Agreement shall be in Canadian
      funds.

     

    8.9     Time
      of Essence
      -
      Time is and shall always remain the essence of this Agreement.

     

    

     

    [the
      remainder of this page is left intentionally blank]

     

     

    
      
        
        

      

      
        -
          9
          -

        
          

        

      

      
        
        

      

    

     

     

     

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

     

    
      
              
          PreMD Inc.

      

       

      
        	 	 Per:	
                             
                  “signed”                                                   

                Name: Brent Norton

                Title: President and Chief Executive
                  Officer

                Authorized Signing Officer

              
	
                 SIGNED, SEALED AND
                  DELIVERED             
                  )

                              
                  In the presence
                  of:                                
                  )

                                                                                           )

                                  
                   “signed”                                           
                  )

                Witness Sarah Borg-Olivier

              	 	
                 

                 

                 

                “signed”                                          

                
                  
                    TIM
                      CURRIE

                  

                

              

      

       

       

       

    

    

    

    

     

     

     

    -
      10
      -

    

    

    

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