Document:

EXHIBIT 10.1

AMENDED AND RESTATED CHANGE IN CONTROL

EMPLOYMENT SECURITY AGREEMENT

This Amended and Restated Change in Control Employment Security Agreement is entered into effective
as of the 24th day of September, 2007, by and between E-Z-EM, Inc., a Delaware corporation (the “Employer”)
and Anthony A. Lombardo (the “Executive”).

WITNESSETH:

Whereas, the Executive is currently employed by the Employer as its President & CEO;

Whereas, in order to provide certain security to the Executive in connection with the Executive’s
employment with the Employer, the Employer and the Executive entered into an Employment Security
Agreement as of April 3, 2001 (the “Agreement”), which the parties wish to amend and restate;

Now, therefore, in consideration of the mutual covenants and promises contained herein and other good
and valuable consideration, the receipt of which is hereby acknowledged, the parties agree that the
Agreement is hereby amended and restated in its entirety to read as follows:

	 

		1.	Benefits Upon Termination of Employment
			 

	 	If, at any time during the Twenty-Four (24) month period following a Change in Control, (i) the employment
of the Executive with the Employer is terminated by the Employer for any reason other than Good Cause,
or (ii) the Executive terminates his employment with the Employer for Good Reason within one year
after the expiration of the 30 day cure period referred to in Section 5(f)(C) below (any employment
termination described in the foregoing clause (i) or (ii) during the 24 month period following a
Change in Control being hereafter sometimes referred to as a “Compensable Termination”),
the following provisions will apply. The following provisions will also apply to any termination
of the employment of the Executive by the Employer without Good Cause or by the Executive for Good
Reason which is covered by and occurs within the applicable time period contemplated by Section 4(b)
below, and to any termination of employment by the Executive for Good Reason under the circumstances
described in Section 8 below (and any such termination of the Executive’s employment covered
by Section 4(b) or Section 8 shall be included within the term “Compensable Termination”).
		 

		(a)	On the tenth day after the date of termination, the Employer shall pay the Executive a lump sum payment
equal to the Severance Amount.
			 
		(b)	On the tenth day after the date of termination, the Employer shall pay the Executive his annual incentive
award for the fiscal year of the Employer preceding the fiscal year of the Employer in which the
Compensable Termination occurs, if unpaid at the time of the Compensable Termination, the amount
of such annual incentive award to be determined in accordance with the annual incentive plan that
was in effect for such preceding fiscal year. 

	

 

		(c)	On the tenth day after the date of termination, the Employer shall pay Executive a prorated annual
incentive award for the fiscal year of the Employer in which the Compensable Termination occurs,
such prorated annual incentive award to be determined by multiplying the Average Historical Incentive
Award (as defined in paragraph 5(b) below) by a fraction the numerator of which shall be the
number of days elapsed in such fiscal year through (and including) the date on which the Compensable
Termination occurs and the denominator of which shall be the number 365. 
			 
		(d)	The Executive shall receive any and all other benefits to which the Executive may be entitled following
termination of employment under the terms of any incentive plans and retirement plans in which he
participated prior to termination of employment. The amount, form and time of payment shall be determined
by the terms of such plans and the Executive’s employment shall be deemed to have terminated
by reason of retirement under each such plan except the qualified retirement plan (401(k) plan).
			 
		(e)	The Executive’s medical plan coverage will continue at the same level of coverage and benefits
(including dependent coverage, if any) in effect at the time of the Change in Control, until the
earlier of (i) eighteen (18) months after the Compensable Termination, or (ii) the time when the
Executive obtains comparable coverage through a new employer. These benefits will continue with the
same employee cost in effect immediately prior to the Change in Control. This provision is intended
to comply with the requirements of “COBRA” continuation coverage. This continuation coverage
is deemed to commence upon termination.
			 
		(f)	On the tenth day after the date of termination, the Executive shall be paid all earned but unpaid or
unused vacation pay at the time of termination. He shall not be entitled to payments for vacation
periods he would have earned had his employment continued after the date on which the Compensable
Termination occurred. In addition, except as otherwise provided herein, the Executive shall not be
entitled to any fringe benefits including the use of a company automobile.
			 
		(g)	On the tenth day after the date of termination, the Executive will be paid a lump sum cash payment
equal to the unvested portion of his 401(k) plan balance. If payment is made under this subparagraph
1(g) and the 401(k) plan balance is subsequently vested, the Executive shall immediately repay the
amount paid under this subparagraph 1(g).
			 
		(h)	During the one year period after the Compensable Termination the Executive will be entitled to outplacement
assistance provided by a nationally recognized outplacement company selected by the Employer with
a total cost of not more than Fifteen (15%) percent of Executive’s Base Salary.

	

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	 	Any termination of employment by the Executive for Good Reason pursuant to the first sentence of this
Section 1 or Section 4(b) below is intended to qualify as an “involuntary separation from service”
within the meaning of Treasury Regulation section 1.409A-1(n)(2), and the provisions of this Agreement
shall be administered and construed accordingly. Any provision of this Agreement that cannot be so
administered and construed shall to that extent be disregarded.
		 

		2.	Reduction of Benefits
			 

		(a)	The payments and benefits to be paid or provided to or with respect to the Executive pursuant to this
Agreement shall not be reduced by the amount of any claim of the Employer against the Executive.
			 
		(b)	Except as otherwise provided in subparagraph 1(e) above, no payment or benefits to be paid or provided
to or with respect to the Executive pursuant to this Agreement shall be reduced by any amount the
Executive may earn or receive from employment with another employer or from any other source. However,
amounts payable and benefits being provided pursuant to this Agreement shall be in lieu of any severance
pay and severance benefits to which the Executive may be entitled under Section 4.5(a) and (d) of
his employment agreement dated as of June 27, 2007 (the “Employment Agreement”) with respect
to the Compensable Termination which gives rise to payments pursuant to this Agreement. 
			 
		(c)	In the event that the Executive would, except for this sentence, be subject to a tax pursuant to Section
4999 of the Internal Revenue Code of 1986, as amended, (the “Code”) or any successor provision
that may be in effect, as a result of “parachute payments” (as that term is defined in
Section 280G(b)(2)(A) of the Code) made pursuant to this Agreement and/or any other agreement, plan,
program or arrangement, or a deduction would not be allowed to the Employer for all or any part of
such payments by reason of Section 280G(a) of the Code, or any successor provision that may be in
effect, such payments/benefits due under this Agreement shall be reduced to reduce the aggregate
“present value” (as that term is defined in Section 280G(d)(4) of the Code) of such payments
to $100 less than an amount equal to three times the Executive’s “base amount” (as
that term is defined in Section 280G(b)(3) and (d)(1) and (2) of the Code) to the end that the Executive
is not subject to tax pursuant to Section 4999 and no deduction is disallowed by reason of Section
280G(a). However, the preceding sentence shall not apply (i.e., no payments/benefits due under this
Agreement shall be reduced) if reducing the payments/benefits due under this Agreement would yield
Executive more than $10,000 less of the aforementioned parachute payments after taxes (including,
without limitation, all federal, state and local income taxes and excise taxes) than not reducing such payments/benefits. 
			 

		(i)	Subject to the provisions of paragraph 2(c) above and subparagraph 2(c)(ii) below, all determinations
required to be made under this paragraph 2, including whether or not payments to be made under this
Agreement or 

	

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	 	otherwise would be considered parachute payments and whether and when payments/benefits due under this
Agreement are to be reduced pursuant to paragraph 2(c) above and the assumptions to be utilized in
arriving at such determination, shall be made by Deloitte & Touche or its successor (the “Accounting
Firm”) which shall provide detailed supporting calculations both to the Employer and the Executive
within 15 business days of the receipt of notice from the Executive that there has been a parachute
payment, or such earlier time as is requested by the Employer. In the event that the Accounting Firm
is serving as accountant or auditor for the individual, entity or group effecting the “change
in ownership or effective control” or “change in the ownership of a substantial portion
of assets” (within the meaning of Code Section 280G(b)(2)(A)) that gives rise to the Excise
Tax, or for any reason is unable or unwilling to serve as the Accounting Firm hereunder, the Executive
shall appoint another nationally recognized accounting firm to make the determinations required hereunder
(which accounting firm shall then be referred to as the Accounting Firm hereunder). All fees and
expenses of the Accounting Firm shall be borne solely by the Employer. Any determination by the Accounting
Firm hereunder shall be binding upon the Employer and the Executive. 
		 

		(ii)	The Executive shall notify the Employer in writing of any claim by the Internal Revenue Service that,
if successful, would require the reduction of payments/benefits due under this Agreement pursuant
to the first sentence of paragraph 2(c) above. Such notification shall be given as soon as practicable
but no later than ten business days after Executive receives written notice of such claim and shall
apprise the Employer of the nature of such claim and the date on which such claim is requested to
be paid. 
			 

		3.	Death
			 

	 	If the Executive dies after a Compensable Termination, all amounts payable hereunder to the Executive
and unpaid at the time of his death shall be paid to his surviving spouse or if no spouse survives
him, to his estate.
		 

		4.	Termination for Good Cause or Without Good Reason
			 

		(a)	Except as otherwise provided in paragraph 4(b) or elsewhere herein, the Employer shall have no further
obligation to the Executive, his spouse, or his estate under this Agreement, except for earned but
unpaid Base Salary through the date of termination, benefits to which he may be entitled under the
terms of any incentive plan or retirement plan, and accrued vacation pay if the employment of the
Executive with the Employer is terminated (i) by the Employer for Good Cause at any time, (ii) for
any reason prior to a Change in Control, (iii) for any reason more than twenty four (24) months following
a Change in Control, (iv) by the voluntary action of the Executive without Good Reason, or (v) by
reason of the Executive’s death or disability (within the 

	

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	 	meaning of the Employer’s disability benefit plan) before a Compensable Termination occurs. 
		 

		(b)	If a Change in Control occurs and within six months prior to the date on which the Change in Control
occurs, (i) the Executive’s employment with the Employer is terminated by the Employer without
Good Cause, or (ii) one of the Good Reason conditions described in Section 5(f)(i) through 5(f)(iv)
below occurs, and if it is reasonably demonstrated by the Executive that such termination of employment
by the Employer or Good Reason condition (A) occurred at the request of a third party who has taken
steps reasonably calculated to effect the Change in Control, or (B) otherwise arose in connection
with or in anticipation of the Change in Control, then for purposes of this Agreement (including
without limitation for purposes of the first sentence of Section 1) such termination of employment
by the Employer without Good Cause or Good Reason condition shall be deemed to have occurred immediately
following the Change in Control and the Executive may satisfy the Good Reason notice requirement
of Section 5(f)(B) below by giving the notice required thereby at any time before the Change in Control
occurs or within 90 days thereafter and, if the Employer fails to remedy the Good Reason condition
within 30 days after the Executive provides such written notice, the Executive may terminate his
employment for such Good Reason within one year after the expiration of that 30 day cure period.
			 

		5.	Definitions
			 

	 	For the purposes of this Agreement:
		 

	  	(a)	“Affiliate” shall have the meaning set forth in the Securities Exchange Act of 1934, as amended.
			 
		(b)	“Average Historical Incentive Award” means the average annual incentive award (including
any deferred incentive award) awarded to the Executive during the three year period immediately preceding
the date on which a Change in Control occurs.
			 
		(c)	“Base Salary” shall mean the highest annual rate of base salary paid to the Executive from
the date of this Agreement until Termination.
			 
		(d)	“Change in Control” shall be deemed to occur if and when any of the following events occur:
			 

		i.	 	The acquisition, directly or indirectly by an entity, person or group (including all Affiliates of
such entity, person or group) other than the Employer or a Related Party as defined in clause 5(d)(ii)
below, of beneficial ownership, as that term is defined in Rule 13d-3 under the Securities Exchange
Act of 1934, as amended, of capital stock of the 

	

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	 	Employer entitled to exercise fifty (50%) percent or more of the outstanding voting power of all capital
stock of the Employer.
		 

		ii.	 	 Consummation of a merger, consolidation, recapitalization or reorganization of the Employer or
a subsidiary of the Employer (“Subsidiary”), reverse split of any class of voting securities
of the Employer entitled to vote generally in the election of directors (“Voting Securities”),
or an acquisition of securities or assets by the Employer or a Subsidiary, other than (A) any such
transaction in which the holders of outstanding Voting Securities immediately prior to the transaction
receive, with respect to such Voting Securities (or, in the case of a transaction in which the Employer
survives the transaction, retain), voting securities of the surviving or transferee entity representing
more than fifty percent (50%) of the total voting power outstanding immediately after such transaction,
with the voting power of each such continuing holder relative to other such continuing holders not
substantially altered in the transaction, and (B) any such transaction which would result in the
Employer or a Related Party beneficially owning more than 50 percent of the voting securities of
the surviving or transferee entity outstanding immediately after such transaction. For this purpose,
the term “Related Party” shall mean (I) a Subsidiary, (II) an employee or group of employees
of the Employer or any Subsidiary, (III) a trustee or other fiduciary holding securities under an
employee benefit plan of the Employer or any Subsidiary, or (IV) a corporation or other form of business
entity owned directly or indirectly by the stockholders of the Employer in substantially the same
proportion as their ownership of Voting Securities.
				 
		iii.	 	The
stockholders of the Employer approve a plan of complete liquidation or dissolution of the Employer
or an agreement for the sale or disposition by the Employer of all or substantially all of the Employer’s
assets, other than any such transaction which would result in a Related Party owning or acquiring
more than 50 percent of the assets owned by the Employer immediately prior to the transaction.
				 
		iv.	 	The persons
who were members of the Board of Directors of the Employer immediately before a tender or exchange
offer for shares of Common Stock of the Employer by any person other than the Employer or a Related
Party, or before a merger or consolidation of the Employer or a Subsidiary, or contested election
of the Board of Directors of the Employer, or before any combination of such transactions, cease
to constitute a majority of the Board of Directors of the Employer (or, in the case of a merger or
consolidation of the Employer in which the Employer is not the surviving entity, do not constitute
a majority of the Board of Directors of the surviving entity) as a result of such transaction or
transactions. 

	

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		(e)	“Good Cause” shall be deemed to exist if, and only if:
			 

		i.	 	the Executive engages in repeated acts or serious omissions constituting dishonesty, intentional breach
of fiduciary obligation or intentional wrongdoing or malfeasance;
				 

		ii.	 	 the Executive is convicted of a crime involving fraud, dishonesty or moral turpitude; or
		 	 	 
		iii.	 	the
Executive materially breaches the Agreement (other than by engaging in acts or omissions enumerated
in paragraphs (i) and (ii) above), or materially fails to satisfy the conditions and requirements
of his employment with the Employer as applied to the Executive before the Change in Control unless
such conditions or requirements were changed within six months prior to the Change in Control and
such change in conditions or requirements constitutes a Good Reason condition described in paragraph
5(f) below to which paragraph 4(b) above applies, in which case as applied to the Executive before
such conditions or requirements were so changed, and such breach or failure by its nature is incapable
of being cured, or such breach or failure remains uncured for more than thirty (30) days following
receipt by the Executive of written notice from the Employer specifying the nature of the breach
or failure and demanding the cure thereof.
		 	 	 

	 	Notwithstanding anything herein to the contrary, in the event the Employer shall terminate the employment
of the Executive for Good Cause hereunder, the Employer shall give at least thirty (30) days prior
written notice to the Executive specifying in detail the reason or reasons for the Executive’s
termination.
		 

		(f)	“Good Reason” exists if (A) any of the conditions described in (i) through (iv) below occur,
(B) the Executive provides written notice to the Employer of the existence of the condition within
90 days after the Executive first knows of the existence of the condition, and (C) the Employer fails
to remedy the condition within 30 days after the Executive provides such written notice:
			 

		i.	 	There is a material reduction in the nature or the scope of the Executive’s authority and/or responsibility,
or in his title;
				 
		ii.	 	There is a material reduction in the Executive’s rate of Base Salary;
				 
		iii.	 	There is a material reduction in benefits provided under any employee benefit plan or program which is not replaced with a substantially similar benefit plan or program; or
				 
		iv.	 	The Employer changes the principal location in which the Executive is required to perform services to a location which increases the Executive’s 

	

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	 	one-way commuting distance by more than 40 miles, or which both (aa) is 50 miles or more (one-way commuting
distance) from the Executive’s principal residence at the time of the change, and (bb) increases
the Executive’s one-way commuting distance by more than 20 miles.
		 

		(g)	“Separation from Service” means a separation from service within the meaning of Treasury Regulation section 1.409A-1(h).
		 	 
		(h)	“Severance Amount” shall mean a cash lump sum payment equal to two times the Executive’s
Base Salary.
			 

		6.	Confidentiality
			 

	 	The Executive acknowledges that preservation of a continuing business relationship between the Employer
or its Affiliates and their respective customers, representatives, and employees is of critical importance
to the continued business success of the Employer and that it is the active policy of the Employer
and its affiliates to guarantee and ensure as confidential the identity of its customers, trade secrets,
pricing, policies, business affairs, representatives and employees. In view of the foregoing, the
Executive agrees that he shall not during his employment by the Employer, except in the ordinary
course of business or as otherwise appropriate in connection with the performance of his duties,
and thereafter, without the prior written consent of the Employer (which consent shall not be withheld
unreasonably), disclose to any person or entity any information concerning the business of, or any
customer, representative, agent or employee of, the Employer or its Affiliates which was obtained
by the Executive in the course of his employment by the Employer and which is of a confidential nature;
provided that the foregoing provisions of this sentence shall not preclude the Executive from use
or disclosure of information (a) which is known generally to the public or to persons engaged in
the same businesses as the Employer, or (b) which is in the public domain or hereafter enters the
public domain through no fault of the Executive, or (c) which is known to the Executive prior to
the Executive’s receipt of such information from the Employer, or (d) which is disclosed to
the Executive by a third party not under an obligation of confidence to the Employer. This section
shall not be applicable if and to the extent the Executive testifies in a legislative, judicial,
regulatory or arbitral proceeding pursuant to an order of Congress, any state or legislature, a judge
or an administrative law judge or Section 12 below.
		 

		7.	Relief
			 

	 	The following shall apply in the event of a breach by the Executive of the covenants and agreements
set forth in Paragraph 6 above.
		 

		(a)	The Employer shall have no further obligations to the Executive or any other person under this Agreement,
and all amounts to which the Executive or any other person would otherwise be entitled under this
Agreement shall be forfeited.

	

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		(b)	The taking of any action by the Employer or the forbearance of the Employer to take any action with
respect to such breach, shall not constitute a waiver by the Employer of any of its rights to remedies
or reliefs under this Agreement or under law or equity.
			 

		8.	Employer Assignment
			 

	 	The Employer shall not transfer all or substantially all of its assets, whether in a single transaction
or a series of transactions, unless the transferee(s) expressly agrees to assume and perform this
Agreement in the same manner and to the same extent that the Employer is required to perform it.
Failure of any such transferee to expressly agree to assume and perform this Agreement prior to or
at the time of the transfer of assets shall constitute Good Reason within the meaning of Section
5(f) of this Agreement, and, if the Executive remains in the employ of the Employer until the transfer
of assets, the Executive may terminate his employment for such Good Reason at the time of the transfer
of assets or within 30 days thereafter on 10 days’ advance written notice to the Employer or
the transferee. Furthermore, whether or not the Employer so assigns its obligations hereunder to
any such transferee, such transferee shall be deemed to have assumed and shall be bound by the Employer’s
obligations hereunder. Except as provided in this Section 8, the Employer shall not be entitled to
assign its obligations hereunder and any such purported assignment shall be null and void, without
force or effect. Any provision above of this Section 8 to the contrary notwithstanding, no assignment
by the Employer of its obligations under this Agreement, and no assumption thereof by any transferee,
shall relieve the Employer that is the original party to this Agreement of its obligations under
this Agreement. This Agreement shall remain in full force and effect notwithstanding any Change in
Control and in the case of any merger or consolidation shall be the obligation of the surviving entity.
		 

		9.	Executive Assignment
			 

	 	No interest of the Executive or his spouse or any other beneficiary under this Agreement, or any right
to receive any payment or distribution hereunder, shall be subject in any manner to sale, transfer,
assignment, pledge, attachment, garnishment, anticipation or other alienation or encumbrance of any
kind, nor may any such interest or right to receive a payment or distribution be taken, voluntarily
or involuntarily, for the satisfaction of the obligations or debts of, or other claims against, the
Executive or his spouse or other beneficiary, including claims for alimony, support, separate maintenance,
and claims in bankruptcy proceedings.
		 

		10.	Benefits Unfunded
			 

	 	All rights of the Executive and his spouse or other beneficiary under this Agreement shall at all times
be entirely unfunded and no provision shall at any time be made with respect to segregating any assets
of the Employer for payment of any amounts due 

	

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	 	hereunder.  Neither the Executive nor his spouse or other beneficiary shall have any interest
in or rights against any specific asset of the Employer and the Executive and his spouse or other
beneficiary shall have only the rights of a general unsecured creditor of the Employer.
		 

		11.	Waiver
			 

	 	No waiver by any party at any time of any breach by any other party of, or compliance with, any condition
or provision of this Agreement to be performed by any other party shall be deemed a waiver of any
other provisions or conditions at the same time or at any prior or subsequent time.
		 

		12.	Disputes
			 

		(a)	Subject to Section 12(c) below, in the event of any dispute or difference between the Employer and
the Executive with respect to this Agreement including the enforcement of rights hereunder, either
party may, by notice to the other party, require such dispute or difference to be submitted to arbitration.
The arbitrator or arbitrators shall be selected by agreement of the parties or, if they cannot agree
on an arbitrator or arbitrators within thirty (30) days after the notification of the other party
by the requesting party of the desire to have the question settled by arbitration, then the arbitrator
or arbitrators shall be selected, upon application by either party, by the American Arbitration Association
(“AAA”) in New York, New York, in accordance with its employment arbitration rules. The
determination reached in such arbitration shall be final and binding on both parties without any
right of appeal or further dispute. Execution of the determination by such arbitrator or arbitrators
may be sought in any court of competent jurisdiction. The arbitrator or arbitrators shall not be
bound by judicial formalities and may abstain from following the strict rules of evidence and shall
reasonably interpret the Agreement. Unless otherwise agreed by the parties, any such arbitration
shall take place in New York, New York, and shall be conducted in accordance with the employment
arbitration rules of the AAA. 
			 
		(b)	Any payments to which the Executive may be entitled under this Agreement shall be made forthwith on
the applicable date(s) for payment specified in this Agreement. If for any reason the amount of any
payment due to the Executive cannot be finally determined on that date, such amount shall be estimated
on a good faith basis by the Employer and the estimated amount shall be paid no later than seven
days after such date. As soon as practicable thereafter, the final determination of the amount due
shall be made and any adjustment requiring a payment to or from the Executive shall be made as promptly
as practicable.
			 
		(c)	If, after a Change in Control occurs, a dispute arises between the Executive and the Employer regarding
any provision of this Agreement that refers to the Treasury Regulations under Internal Revenue Code
section 409A (including without limitation regarding the meaning, application or effect of such provision

	

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	 	or such Treasury Regulations), such dispute shall be submitted for resolution to the Accounting Firm
referred to in Section 2(c)(i) above, the fees and expenses of which shall be borne by the Employer.
The determination of such firm shall be binding and conclusive on the Executive and the Employer.
		 

		13.	Enforcement Expenses
			 

		(a)	If, after the execution of this Agreement (i) the Executive’s Separation from Service occurs within
six months before or within 24 months after a Change in Control, and (ii) either after a Change in
Control, or in connection with a Change in Control, a dispute arises (A) with respect to this Agreement
or the breach thereof, or (B) with respect to the Executive’s or the Employer’s rights
or obligations under this Agreement, including but not limited to any such dispute between the Executive
and the Employer, the Employer shall pay or reimburse the Executive for seventy-five percent (75%)
of all reasonable attorneys’ fees and disbursements (including expert witness fees and expenses),
arbitration costs (including arbitrators’ fees) and court costs that the Executive incurs in
connection with such dispute or to obtain payment or otherwise enforce his rights under this Agreement
(including without limitation to obtain payments or reimbursements due under this Section 13) (collectively,
such fees, disbursements and costs are hereafter referred to as “Expenses”); provided that
the Executive incurs such Expenses on or before the last day of the Executive’s second taxable
year following the Executive’s taxable year in which the Separation from Service occurred. The
Employer hereby agrees to pay or reimburse said 75% of Expenses (I) promptly as the Executive incurs
them, upon presentation of reasonable documentation of such Expenses, and (II) in all events on or
before the last day of the Executive’s third taxable year following the Executive’s taxable
year in which the Separation from Service occurred. The preceding provisions of this Section 13 are
intended to qualify under Treasury Regulation section 1.409A-1(b)(9)(v) as a separation pay plan
that does not provide for a deferral of compensation, and shall be administered and construed accordingly. 
			 
		(b)	If the provisions of Section 13(a)(i) and (ii) above apply, the Employer also agrees to pay or reimburse
75% of all Expenses (as defined in Section 13(a) above) that the Executive incurs after the second
taxable year following the Executive’s taxable year in which the Separation from Service occurred
and before the sixth taxable year following the Executive’s taxable year in which the Separation
from Service occurred, such payments and reimbursements by the Employer not to exceed $75,000 in
any calendar year, provided that the amount of Expenses paid in any calendar year that are eligible
for payment or reimbursement equals only the amount actually expended during such calendar year,
and the maximum amount available for payment or reimbursement in any calendar year will not be increased
or decreased to reflect the amount expended or reimbursed in a prior or subsequent calendar year.
The Employer hereby agrees to pay or reimburse said 75% of Expenses (1) promptly as the Executive 

	

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	 	incurs them, upon presentation of reasonable documentation of such Expenses, and (2) in all events
by December 31 of the calendar year following the year in which the Executive pays the Expenses.
Any right to payment or reimbursement pursuant to this Section 13(b) is not subject to liquidation
or exchange for another benefit. The preceding provisions of this Section 13(b) are intended to meet
the conditions set forth in Treasury Regulation section 1.409A-3(i)(1)(iv) and illustrated in Example
7 of Treasury Regulation section 1.409A-3(i)(1)(vi), and shall be administered and construed accordingly
and, if for any reason such provisions cannot be so administered and construed, then to that extent
such provisions shall be disregarded.
		 

		(c)	The Executive shall not be obligated to repay any Expenses paid or reimbursed pursuant to the preceding
provisions of this Section 13 unless it is finally determined by the trier of fact in a non-appealable
judicial or arbitral decision or ruling (as applicable) that the Executive’s principal positions
with respect to the principal matter(s) in dispute were unreasonable or pursued in bad faith. 
			 

		14.	Applicable Law
			 
			This Agreement shall be construed and interpreted pursuant to the laws of the State of New York, without reference to its conflicts of laws principles.
			 

		15.	Entire Agreement
			 
			This Agreement contains the entire Agreement between the Employer and the Executive and supersedes any and all previous agreements, written and oral, among the parties relating to the subject matter hereof. However, this Agreement does not supersede the Employment Agreement or any stock option, stock appreciation right, restricted stock unit or other award agreement. No amendment or modification of the terms of this Agreement shall be binding upon the parties hereto unless reduced to writing and signed by the Employer and the Executive.

		 	 
		16.	Gender
			 
			Words in the masculine gender shall include the feminine.
			 

		17.	No Employment Contract
			 
			Nothing contained in this Agreement shall be construed to be an employment contract between the Executive and the Employer. 
			 

	 	18. 	 Counterparts
		 	 
		 	This Agreement may be executed in counterparts, each of which shall be deemed an original.

	

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	19. 	Severability
	 

	 	In the event any provision of this Agreement is held illegal or invalid, the remaining provisions of
this Agreement shall not be affected thereby.
		 

		20.	Successors
			 

	 	This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
heirs, representatives and successors.
		 

		21.	Notice
			 

	 	Notices required under this Agreement shall be in writing and delivered personally to the party being
notified or sent by certified mail, return receipt requested, or by Federal Express or other express
delivery service to the following addresses or to such other address as the party being notified may have previously furnished to the others by written
notice.
		 
	 	If to the Employer:
	 	 

	 	E-Z-EM, Inc.
    iPark Building

    1111 Marcus Avenue, Suite LL26 

    Lake Success, NY  11042     
	 	 
	 	Attention:  General Counsel
	 	 
	 	If to the Executive:
	 	 
	 	At his residence address as it appears on the books and records of the Employer from time to time.

	 
	                In Witness Whereof, the Executive has hereunto set his hand, and the Employer has caused these presents to be executed in its name on its behalf, all as of the day and year first above written.
	 
	 
	E-Z-EM, INC.
	 
	By:	     /s/ Paul Echenberg	 	     /s/ Anthony J. Lombardo
	 	
	 	

	 	Paul Echenberg, Chairman of the Board	 	    Anthony A. Lombardo

	

Page 13 of 13EXHIBIT 10.2
	 
	
AMENDED AND RESTATED CHANGE IN CONTROL

EMPLOYMENT SECURITY AGREEMENT

This Amended and Restated Change in Control Employment Security Agreement is entered into effective
as of the 24th day of September, 2007, by and between E-Z-EM, Inc., a Delaware corporation (the “Employer”)
and Joseph Cacchioli (the “Executive”).

WITNESSETH:

Whereas, the Executive is currently employed by the Employer as its Vice President-Controller;

Whereas, in order to provide certain security to the Executive in connection with the Executive’s
employment with the Employer, the Employer and the Executive entered into an Employment Security
Agreement as of June 30, 1996 (the “Agreement”), which the parties wish to amend and restate;

Now, therefore, in consideration of the mutual covenants and promises contained herein and other good
and valuable consideration, the receipt of which is hereby acknowledged, the parties agree that the
Agreement is hereby amended and restated in its entirety to read as follows:

	 

		1.	Benefits Upon Termination of Employment
			 

	 	If, at any time during the Twenty-Four (24) month period following a Change in Control, (i) the employment
of the Executive with the Employer is terminated by the Employer for any reason other than Good Cause,
or (ii) the Executive terminates his employment with the Employer for Good Reason within one year
after the expiration of the 30 day cure period referred to in Section 5(f)(C) below (any employment
termination described in the foregoing clause (i) or (ii) during the 24 month period following a
Change in Control being hereafter sometimes referred to as a “Compensable Termination”),
the following provisions will apply. The following provisions will also apply to any termination
of the employment of the Executive by the Employer without Good Cause or by the Executive for Good
Reason which is covered by and occurs within the applicable time period contemplated by Section 4(b)
below, and to any termination of employment by the Executive for Good Reason under the circumstances
described in Section 8 below (and any such termination of the Executive’s employment covered
by Section 4(b) or Section 8 shall be included within the term “Compensable Termination”).
		 

		(a)	On the tenth day after the date of termination, the Employer shall pay the Executive a lump sum payment
equal to the Severance Amount.
			 
		(b)	On the tenth day after the date of termination, the Employer shall pay the Executive his annual incentive
award for the fiscal year of the Employer preceding the fiscal year of the Employer in which the
Compensable Termination occurs, if unpaid at the time of the Compensable Termination, the amount
of such annual incentive award to be determined in accordance with the annual incentive plan that
was in effect for such preceding fiscal year. 

	

 

		(c)	On the tenth day after the date of termination, the Employer shall pay Executive a prorated annual
incentive award for the fiscal year of the Employer in which the Compensable Termination occurs,
such prorated annual incentive award to be determined by multiplying the Average Historical Incentive
Award (as defined in paragraph 5(b) below) by a fraction the numerator of which shall be the
number of days elapsed in such fiscal year through (and including) the date on which the Compensable
Termination occurs and the denominator of which shall be the number 365. 
			 
		(d)	The Executive shall receive any and all other benefits to which the Executive may be entitled following
termination of employment under the terms of any incentive plans and retirement plans in which he
participated prior to termination of employment. The amount, form and time of payment shall be determined
by the terms of such plans and the Executive’s employment shall be deemed to have terminated
by reason of retirement under each such plan except the qualified retirement plan (401(k) plan).
			 
		(e)	The Executive’s medical plan coverage will continue at the same level of coverage and benefits
(including dependent coverage, if any) in effect at the time of the Change in Control, until the
earlier of (i) eighteen (18) months after the Compensable Termination, or (ii) the time when the
Executive obtains comparable coverage through a new employer. These benefits will continue with the
same employee cost in effect immediately prior to the Change in Control. This provision is intended
to comply with the requirements of “COBRA” continuation coverage. This continuation coverage
is deemed to commence upon termination.
			 
		(f)	On the tenth day after the date of termination, the Executive shall be paid all earned but unpaid or
unused vacation pay at the time of termination. He shall not be entitled to payments for vacation
periods he would have earned had his employment continued after the date on which the Compensable
Termination occurred. In addition, except as otherwise provided herein, the Executive shall not be
entitled to any fringe benefits including the use of a company automobile.
			 
		(g)	On the tenth day after the date of termination, the Executive will be paid a lump sum cash payment
equal to the unvested portion of his 401(k) plan balance. If payment is made under this subparagraph
1(g) and the 401(k) plan balance is subsequently vested, the Executive shall immediately repay the
amount paid under this subparagraph 1(g).
			 
		(h)	During the one year period after the Compensable Termination the Executive will be entitled to outplacement
assistance provided by a nationally recognized outplacement company selected by the Employer with
a total cost of not more than Fifteen (15%) percent of Executive’s Base Salary.

	

Page 2 of 14

	 	Any termination of employment by the Executive for Good Reason pursuant to the first sentence of this
Section 1 or Section 4(b) below is intended to qualify as an “involuntary separation from service”
within the meaning of Treasury Regulation section 1.409A-1(n)(2), and the provisions of this Agreement
shall be administered and construed accordingly. Any provision of this Agreement that cannot be so
administered and construed shall to that extent be disregarded.
		 

		2.	Reduction of Benefits
			 

		(a)	The payments and benefits to be paid or provided to or with respect to the Executive pursuant to this
Agreement shall not be reduced by the amount of any claim of the Employer against the Executive.
			 
		(b)	Except as otherwise provided in subparagraph 1(e) above, no payment or benefits to be paid or provided
to or with respect to the Executive pursuant to this Agreement shall be reduced by any amount the
Executive may earn or receive from employment with another employer or from any other source. However,
amounts payable and benefits being provided pursuant to this Agreement shall be in lieu of any severance
pay and severance benefits to which the Executive may be entitled under any other severance pay plan,
arrangement or agreement of the Employer with respect to the Compensable Termination which gives
rise to payments pursuant to this Agreement. In addition, if the Executive’s employment with
the Employer terminates within six months prior to the date on which a Change in Control occurs,
and if paragraph 4(b) below applies to such employment termination, then the payments and benefits
payable to or with respect to the Executive pursuant to Section 1 above shall be reduced by the amount
of any severance compensation and severance benefits the Executive receives (or received) from Employer
in connection with such employment termination.
			 
		(c)	In the event that the Executive would, except for this sentence, be subject to a tax pursuant to Section
4999 of the Internal Revenue Code of 1986, as amended, (the “Code”) or any successor provision
that may be in effect, as a result of “parachute payments” (as that term is defined in
Section 280G(b)(2)(A) of the Code) made pursuant to this Agreement and/or any other agreement, plan,
program or arrangement, or a deduction would not be allowed to the Employer for all or any part of
such payments by reason of Section 280G(a) of the Code, or any successor provision that may be in
effect, such payments/benefits due under this Agreement shall be reduced to reduce the aggregate
“present value” (as that term is defined in Section 280G(d)(4) of the Code) of such payments
to $100 less than an amount equal to three times the Executive’s “base amount” (as
that term is defined in Section 280G(b)(3) and (d)(1) and (2) of the Code) to the end that the Executive
is not subject to tax pursuant to Section 4999 and no deduction is disallowed by reason of Section
280G(a). However, the preceding sentence shall not apply (i.e., no payments/benefits due under this
Agreement shall be reduced) if reducing the payments/benefits due under this Agreement would yield Executive more than 

	

Page 3 of 14

	 	$10,000 less of the aforementioned parachute payments after taxes (including, without limitation, all
federal, state and local income taxes and excise taxes) than not reducing such payments/benefits.

		 

		(i)	 	Subject to the provisions of paragraph 2(c) above and subparagraph 2(c)(ii) below, all determinations
required to be made under this paragraph 2, including whether or not payments to be made under this
Agreement or otherwise would be considered parachute payments and whether and when payments/benefits
due under this Agreement are to be reduced pursuant to paragraph 2(c) above and the assumptions to
be utilized in arriving at such determination, shall be made by Deloitte & Touche or its successor
(the “Accounting Firm”) which shall provide detailed supporting calculations both to the
Employer and the Executive within 15 business days of the receipt of notice from the Executive that
there has been a parachute payment, or such earlier time as is requested by the Employer. In the
event that the Accounting Firm is serving as accountant or auditor for the individual, entity or
group effecting the “change in ownership or effective control” or “change in the ownership
of a substantial portion of assets” (within the meaning of Code Section 280G(b)(2)(A)) that
gives rise to the Excise Tax, or for any reason is unable or unwilling to serve as the Accounting
Firm hereunder, the Executive shall appoint another nationally recognized accounting firm to make
the determinations required hereunder (which accounting firm shall then be referred to as the Accounting
Firm hereunder). All fees and expenses of the Accounting Firm shall be borne solely by the Employer.
Any determination by the Accounting Firm hereunder shall be binding upon the Employer and the Executive. 
				 

		(ii)	 	The Executive shall notify the Employer in writing of any claim by the Internal Revenue Service that,
if successful, would require the reduction of payments/benefits due under this Agreement pursuant
to the first sentence of paragraph 2(c) above. Such notification shall be given as soon as practicable
but no later than ten business days after Executive receives written notice of such claim and shall
apprise the Employer of the nature of such claim and the date on which such claim is requested to
be paid. 
				 

		3.	Death
			 

	 	If the Executive dies after a Compensable Termination, all amounts payable hereunder to the Executive
and unpaid at the time of his death shall be paid to his surviving spouse or if no spouse survives
him, to his estate.
		 

		4.	Termination for Good Cause or Without Good Reason
			 

		(a)	Except as otherwise provided in paragraph 4(b) or elsewhere herein, the Employer shall have no further
obligation to the Executive, his spouse, or his estate under this Agreement, except for earned but
unpaid Base Salary through the date of termination, benefits to which he may be entitled under the
terms of 

	

Page 4 of 14

	 	any incentive plan or retirement plan, and accrued vacation pay if the employment of the Executive
with the Employer is terminated (i) by the Employer for Good Cause at any time, (ii) for any reason
prior to a Change in Control, (iii) for any reason more that twenty four (24) months following a
Change in Control, (iv) by the voluntary action of the Executive without Good Reason, or (v)
by reason of the Executive’s death or disability (within the meaning of the Employer’s
disability benefit plan) before a Compensable Termination occurs. 
		 

		(b)	If a Change in Control occurs and within six months prior to the date on which the Change in Control
occurs, (i) the Executive’s employment with the Employer is terminated by the Employer without
Good Cause, or (ii) one of the Good Reason conditions described in Section 5(f)(i) through 5(f)(iv)
below occurs, and if it is reasonably demonstrated by the Executive that such termination of employment
by the Employer or Good Reason condition (A) occurred at the request of a third party who has taken
steps reasonably calculated to effect the Change in Control, or (B) otherwise arose in connection
with or in anticipation of the Change in Control, then for purposes of this Agreement (including
without limitation for purposes of the first sentence of Section 1) such termination of employment
by the Employer without Good Cause or Good Reason condition shall be deemed to have occurred immediately
following the Change in Control and the Executive may satisfy the Good Reason notice requirement
of Section 5(f)(B) below by giving the notice required thereby at any time before the Change in Control
occurs or within 90 days thereafter and, if the Employer fails to remedy the Good Reason condition
within 30 days after the Executive provides such written notice, the Executive may terminate his
employment for such Good Reason within one year after the expiration of that 30 day cure period.
			 

		5.	Definitions
			 

		For the purposes of this Agreement:
		 

		(a)	“Affiliate” shall have the meaning set forth in the Securities Exchange Act of 1934, as amended.
			 
		(b)	“Average Historical Incentive Award” means the average annual incentive award (including
any deferred incentive award) awarded to the Executive during the three year period immediately preceding
the date on which a Change in Control occurs or during the portion of such three year period in which
he was employed by the Employer (annualizing any award awarded for less than a full year of employment).
			 
		(c)	“Base Salary” shall mean the highest annual rate of base salary paid to the Executive from
the date of this Agreement until Termination.

	

Page 5 of 14

		(d)	“Change in Control” shall be deemed to occur if and when any of the following events occur:
			 

		i.	 	The acquisition, directly or indirectly by an entity, person or group (including all Affiliates of
such entity, person or group) other than the Employer or a Related Party as defined in clause 5(d)(ii)
below, of beneficial ownership, as that term is defined in Rule 13d-3 under the Securities Exchange
Act of 1934, as amended, of capital stock of the Employer entitled to exercise fifty (50%) percent
or more of the outstanding voting power of all capital stock of the Employer.
				 
		ii.	 	Consummation of a merger, consolidation, recapitalization or reorganization of the Employer or a subsidiary of the Employer (“Subsidiary”), reverse split of any class of voting securities of the Employer entitled to vote generally in the election of directors (“Voting Securities”), or an acquisition of securities or assets by the Employer or a Subsidiary, other than (A) any such transaction in which the holders of outstanding Voting Securities immediately prior to the transaction receive, with respect to such Voting Securities (or, in the case of a transaction in which the Employer survives the transaction, retain), voting securities of the surviving or transferee entity representing more than fifty percent (50%) of the total voting power outstanding immediately after such transaction, with the voting power of each such continuing holder relative to other such continuing holders not
substantially altered in the transaction, and (B) any such transaction which would result in the Employer or a Related Party beneficially owning more than 50 percent of the voting securities of the surviving or transferee entity outstanding immediately after such transaction. For this purpose, the term “Related Party” shall mean (I) a Subsidiary, (II) an employee or group of employees of the Employer or any Subsidiary, (III) a trustee or other fiduciary holding securities under an employee benefit plan of the Employer or any Subsidiary, or (IV) a corporation or other form of business entity owned directly or indirectly by the stockholders of the Employer in substantially the same proportion as their ownership of Voting Securities.
				 
		iii.	 	The stockholders of the Employer approve a plan of complete liquidation or dissolution of the Employer or an agreement for the sale or disposition by the Employer of all or substantially all of the Employer’s assets, other than any such transaction which would result in a Related Party owning or acquiring more than 50 percent of the assets owned by the Employer immediately prior to the transaction.
				 
		iv.	 	The persons who were members of the Board of Directors of the Employer immediately before a tender or exchange offer for shares of Common Stock of the Employer by any person other than the Employer or a Related Party, or before a merger or consolidation of the Employer or a 

	

Page 6 of 14

	 	Subsidiary, or contested election of the Board of Directors of the Employer, or before any combination
of such transactions, cease to constitute a majority of the Board of Directors of the Employer (or,
in the case of a merger or consolidation of the Employer in which the Employer is not the surviving
entity, do not constitute a majority of the Board of Directors of the surviving entity) as a result
of such transaction or transactions. 
		 

		(e)	“Good Cause” shall be deemed to exist if, and only if:
			 

		i.	 	the Executive engages in repeated acts or serious omissions constituting dishonesty, intentional breach
of fiduciary obligation or intentional wrongdoing or malfeasance;
				 
		ii.	 	the Executive is convicted of a crime involving fraud, dishonesty or moral turpitude; or
				 
		iii.	 	 the Executive materially breaches the Agreement (other than by engaging in acts or omissions enumerated in paragraphs (i) and (ii) above), or materially fails to satisfy the conditions and requirements of his employment with the Employer as applied to the Executive before the Change in Control unless such conditions or requirements were changed within six months prior to the Change in Control and such change in conditions or requirements constitutes a Good Reason condition described in paragraph 5(f) below to which paragraph 4(b) above applies, in which case as applied to the Executive before such conditions or requirements were so changed, and such breach or failure by its nature is incapable of being cured, or such breach or failure remains uncured for more than thirty (30) days
following receipt by the Executive of written notice from the Employer specifying the nature of the breach or failure and demanding the cure thereof.
				 

	 	Notwithstanding anything herein to the contrary, in the event the Employer shall terminate the employment
of the Executive for Good Cause hereunder, the Employer shall give at least thirty (30) days prior
written notice to the Executive specifying in detail the reason or reasons for the Executive’s
termination.
		 

		(f)	“Good Reason” exists if (A) any of the conditions described in (i) through (iv) below occur,
(B) the Executive provides written notice to the Employer of the existence of the condition within
90 days after the Executive first knows of the existence of the condition, and (C) the Employer fails
to remedy the condition within 30 days after the Executive provides such written notice:
			 

		i.	 	There is a material reduction in the nature or the scope of the Executive’s authority and/or responsibility,
or in his title;
				 
		ii.	 	There is a material reduction in the Executive’s rate of Base Salary;

	

Page 7 of 14

		iii.	 	There is a material reduction in benefits provided under any employee benefit plan or program which is not replaced with a substantially similar benefit plan or program; or
		 	 	 
		iv.	 	The Employer changes the principal location in which the Executive is required to perform services to a location which increases the Executive’s one-way commuting distance by more than 40 miles, or which both (aa) is 50 miles or more (one-way commuting distance) from the Executive’s principal residence at the time of the change, and (bb) increases the Executive’s one-way commuting distance by more than 20 miles.
		 	 	 

		(g)	“Separation from Service” means a separation from service within the meaning of Treasury Regulation section 1.409A-1(h).
		 	 
		(h)	“Severance Amount” shall mean a cash lump sum payment equal to one-twelfth (1/12th) of the Executive’s Base Salary times the number of years of service with the Employer. The number
of years of service shall include all years of service with the Employer until the date of Termination.
Partial years of service will be rounded. Where an Executive has between 0 and 12 years of service,
he will be deemed, for purposes of this paragraph, to have 12 years of service. Where the Executive
has more than 24 years of service, he will be deemed, for purposes of this paragraph, to have only
24 years of service.
			 

		6.	Confidentiality
			 

	 	The Executive acknowledges that preservation of a continuing business relationship between the Employer
or its Affiliates and their respective customers, representatives, and employees is of critical importance
to the continued business success of the Employer and that it is the active policy of the Employer
and its affiliates to guarantee and ensure as confidential the identity of its customers, trade secrets,
pricing, policies, business affairs, representatives and employees. In view of the foregoing, the
Executive agrees that he shall not during his employment by the Employer, except in the ordinary
course of business or as otherwise appropriate in connection with the performance of his duties,
and thereafter, without the prior written consent of the Employer (which consent shall not be withheld
unreasonably), disclose to any person or entity any information concerning the business of, or any
customer, representative, agent or employee of, the Employer or its Affiliates which was obtained
by the Executive in the course of his employment by the Employer and which is of a confidential nature;
provided that the foregoing provisions of this sentence shall not preclude the Executive from use
or disclosure of information (a) which is known generally to the public or to persons engaged in
the same businesses as the Employer, or (b) which is in the public domain or hereafter enters the
public domain through no fault of the Executive, or (c) which is known to the Executive prior to
the Executive’s receipt of such information from the Employer, or (d) which is disclosed to
the Executive by a third party not under an obligation of confidence to 

	

Page 8 of 14

	 	the Employer.  This section shall not be applicable if and to the extent the Executive testifies
in a legislative, judicial, regulatory or arbitral proceeding pursuant to an order of Congress, any
state or legislature, a judge or an administrative law judge or Section 12 below.
		 
	 	In addition, the Executive agrees to keep the details of this Agreement confidential unless the details
of this Agreement become public information through no fault of the Executive. Except for such disclosure
as is required by law or reasonably necessary for the Executive to enforce or defend his rights under
this Agreement, the contents of this Agreement shall not be disclosed to anyone, including, but not
limited to, other employees of the Employer, other than legal and/or financial advisers of the Executive.

		 

		7.	Relief
			 

	 	The following shall apply in the event of a breach by the Executive of the covenants and agreements
set forth in Paragraph 6 above.
		 

		(a)	The Employer shall have no further obligations to the Executive or any other person under this Agreement,
and all amounts to which the Executive or any other person would otherwise be entitled under this
Agreement shall be forfeited.
			 
		(b)	The taking of any action by the Employer or the forbearance of the Employer to take any action with
respect to such breach, shall not constitute a waiver by the Employer of any of its rights to remedies
or reliefs under this Agreement or under law or equity.
			 

		8.	Employer Assignment
			 

	 	The Employer shall not transfer all or substantially all of its assets, whether in a single transaction
or a series of transactions, unless the transferee(s) expressly agrees to assume and perform this
Agreement in the same manner and to the same extent that the Employer is required to perform it.
Failure of any such transferee to expressly agree to assume and perform this Agreement prior to or
at the time of the transfer of assets shall constitute Good Reason within the meaning of Section
5(f) of this Agreement, and, if the Executive remains in the employ of the Employer until the transfer
of assets, the Executive may terminate his employment for such Good Reason at the time of the transfer
of assets or within 30 days thereafter on 10 days’ advance written notice to the Employer or
the transferee. Furthermore, whether or not the Employer so assigns its obligations hereunder to
any such transferee, such transferee shall be deemed to have assumed and shall be bound by the Employer’s
obligations hereunder. Except as provided in this Section 8, the Employer shall not be entitled to
assign its obligations hereunder and any such purported assignment shall be null and void, without
force or effect. Any provision above of this Section 8 to the contrary notwithstanding, no assignment
by the Employer of its obligations under this Agreement, and no assumption thereof by any transferee, shall relieve the 

	

Page 9 of 14

	 	Employer that is the original party to this Agreement of its obligations under this Agreement. This
Agreement shall remain in full force and effect notwithstanding any Change in Control and in the
case of any merger or consolidation shall be the obligation of the surviving entity.
		 

		9.	Executive Assignment
			 

	 	No interest of the Executive or his spouse or any other beneficiary under this Agreement, or any right
to receive any payment or distribution hereunder, shall be subject in any manner to sale, transfer,
assignment, pledge, attachment, garnishment, anticipation or other alienation or encumbrance of any
kind, nor may any such interest or right to receive a payment or distribution be taken, voluntarily
or involuntarily, for the satisfaction of the obligations or debts of, or other claims against, the
Executive or his spouse or other beneficiary, including claims for alimony, support, separate maintenance,
and claims in bankruptcy proceedings.
		 

		10.	Benefits Unfunded
			 

	 	All rights of the Executive and his spouse or other beneficiary under this Agreement shall at all times
be entirely unfunded and no provision shall at any time be made with respect to segregating any assets
of the Employer for payment of any amounts due hereunder. Neither the Executive nor his spouse or
other beneficiary shall have any interest in or rights against any specific asset of the Employer
and the Executive and his spouse or other beneficiary shall have only the rights of a general unsecured
creditor of the Employer.
		 

		11.	Waiver
			 

	 	No waiver by any party at any time of any breach by any other party of, or compliance with, any condition
or provision of this Agreement to be performed by any other party shall be deemed a waiver of any
other provisions or conditions at the same time or at any prior or subsequent time.
		 

		12.	Disputes
			 

		(a)	Subject to Section 12(c) below, in the event of any dispute or difference between the Employer and
the Executive with respect to this Agreement including the enforcement of rights hereunder, either
party may, by notice to the other party, require such dispute or difference to be submitted to arbitration.
The arbitrator or arbitrators shall be selected by agreement of the parties or, if they cannot agree
on an arbitrator or arbitrators within thirty (30) days after the notification of the other party
by the requesting party of the desire to have the question settled by arbitration, then the arbitrator
or arbitrators shall be selected, upon application by either party, by the American Arbitration Association
(“AAA”) in New York, New York, in accordance with its employment arbitration rules. The
determination reached in such arbitration shall be final and binding on both 

	

Page 10 of 14

	 	parties without any right of appeal or further dispute. Execution of the determination by such arbitrator
or arbitrators may be sought in any court of competent jurisdiction. The arbitrator or arbitrators
shall not be bound by judicial formalities and may abstain from following the strict rules of evidence
and shall reasonably interpret the Agreement. Unless otherwise agreed by the parties, any such arbitration
shall take place in New York, New York, and shall be conducted in accordance with the employment
arbitration rules of the AAA. 
		 

		(b)	Any payments to which the Executive may be entitled under this Agreement shall be made forthwith on
the applicable date(s) for payment specified in this Agreement. If for any reason the amount of any
payment due to the Executive cannot be finally determined on that date, such amount shall be estimated
on a good faith basis by the Employer and the estimated amount shall be paid no later than seven
days after such date. As soon as practicable thereafter, the final determination of the amount due
shall be made and any adjustment requiring a payment to or from the Executive shall be made as promptly
as practicable.
			 
		(c)	If, after a Change in Control occurs, a dispute arises between the Executive and the Employer regarding
any provision of this Agreement that refers to the Treasury Regulations under Internal Revenue Code
section 409A (including without limitation regarding the meaning, application or effect of such provision
or such Treasury Regulations), such dispute shall be submitted for resolution to the Accounting Firm
referred to in Section 2(c)(i) above, the fees and expenses of which shall be borne by the Employer.
The determination of such firm shall be binding and conclusive on the Executive and the Employer.
			 

		13.	Enforcement Expenses
			 

		(a) 	If, after the execution of this Agreement (i) the Executive’s Separation from Service occurs within
six months before or within 24 months after a Change in Control, and (ii) either after a Change in
Control, or in connection with a Change in Control, a dispute arises (A) with respect to this Agreement
or the breach thereof, or (B) with respect to the Executive’s or the Employer’s rights
or obligations under this Agreement, including but not limited to any such dispute between the Executive
and the Employer, the Employer shall pay or reimburse the Executive for seventy-five percent (75%)
of all reasonable attorneys’ fees and disbursements (including expert witness fees and expenses),
arbitration costs (including arbitrators’ fees) and court costs that the Executive incurs in
connection with such dispute or to obtain payment or otherwise enforce his rights under this Agreement
(including without limitation to obtain payments or reimbursements due under this Section 13) (collectively,
such fees, disbursements and costs are hereafter referred to as “Expenses”); provided that
the Executive incurs such Expenses on or before the last day of the Executive’s second taxable
year following the Executive’s taxable year in which the Separation from Service occurred. The
Employer hereby agrees to pay or reimburse said 75% of Expenses (I) promptly as the Executive incurs them, upon 

	

Page 11 of 14

	 	presentation of reasonable documentation of such Expenses, and (II) in all events on or before the
last day of the Executive’s third taxable year following the Executive’s taxable year in
which the Separation from Service occurred. The preceding provisions of this Section 13 are intended
to qualify under Treasury Regulation section 1.409A-1(b)(9)(v) as a separation pay plan that does
not provide for a deferral of compensation, and shall be administered and construed accordingly. 
		 

		(b)	If the provisions of Section 13(a)(i) and (ii) above apply, the Employer also agrees to pay or reimburse
75% of all Expenses (as defined in Section 13(a) above) that the Executive incurs after the second
taxable year following the Executive’s taxable year in which the Separation from Service occurred
and before the sixth taxable year following the Executive’s taxable year in which the Separation
from Service occurred, such payments and reimbursements by the Employer not to exceed $75,000 in
any calendar year, provided that the amount of Expenses paid in any calendar year that are eligible
for payment or reimbursement equals only the amount actually expended during such calendar year,
and the maximum amount available for payment or reimbursement in any calendar year will not be increased
or decreased to reflect the amount expended or reimbursed in a prior or subsequent calendar year.
The Employer hereby agrees to pay or reimburse said 75% of Expenses (1) promptly as the Executive
incurs them, upon presentation of reasonable documentation of such Expenses, and (2) in all events
by December 31 of the calendar year following the year in which the Executive pays the Expenses.
Any right to payment or reimbursement pursuant to this Section 13(b) is not subject to liquidation
or exchange for another benefit. The preceding provisions of this Section 13(b) are intended to meet
the conditions set forth in Treasury Regulation section 1.409A-3(i)(1)(iv) and illustrated in Example
7 of Treasury Regulation section 1.409A-3(i)(1)(vi), and shall be administered and construed accordingly
and, if for any reason such provisions cannot be so administered and construed, then to that extent
such provisions shall be disregarded.
			 
		(c)	The Executive shall not be obligated to repay any Expenses paid or reimbursed pursuant to the preceding
provisions of this Section 13 unless it is finally determined by the trier of fact in a non-appealable
judicial or arbitral decision or ruling (as applicable) that the Executive’s principal positions
with respect to the principal matter(s) in dispute were unreasonable or pursued in bad faith. 
			 

		14.	Applicable Law
			 

	 	This Agreement shall be construed and interpreted pursuant to the laws of the State of New York, without
reference to its conflicts of laws principles.

	

Page 12 of 14

	 	15.	Entire Agreement
	 	 	 
	 	 	This Agreement contains the entire Agreement between the Employer and the Executive and supersedes any and all previous agreements, written and oral, among the parties relating to the subject matter hereof. However, this Agreement does not  supersede any stock option, stock appreciation right, restricted stock unit or other award agreement. No amendment or modification of the terms of this Agreement shall be binding upon the parties hereto unless reduced to writing and signed by the Employer and the Executive.
	 	 	 

		16.	Gender
			 

	 	Words in the masculine gender shall include the feminine.
		 

		17.	No Employment Contract
			 

	 	Nothing contained in this Agreement shall be construed to be an employment contract between the Executive
and the Employer. The Executive is employed at will and the Employer may terminate his employment
at any time, with or without cause.
		 

	 	18.	 Counterparts
		 

	 	This Agreement may be executed in counterparts, each of which shall be deemed an original.
		 

		19.	Severability
			 

	 	In the event any provision of this Agreement is held illegal or invalid, the remaining provisions of
this Agreement shall not be affected thereby.
		 

		20.	Successors
			 

	 	This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
heirs, representatives and successors.
		 

		21.	Notice
			 

	 	Notices required under this Agreement shall be in writing and delivered personally to the party being
notified or sent by certified mail, return receipt requested, or by Federal Express or other express
delivery service to the following addresses or to such other address as the party being notified may have previously furnished to the others by written
notice.

	

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	 	If to the Employer:

	 	 
	 	E-Z-EM, Inc.

        iPark Building

      1111 Marcus Avenue, Suite LL26 

      Lake Success, NY  11042  
	 	 
	 	Attention:  General Counsel
	 	 
	 	If to the Executive:
	 	 
	 	At his residence address as it appears on the books and records of the Employer from time to time.

	 
	                In Witness Whereof, the Executive has hereunto set his hand, and the Employer has caused these presents to be executed in its name on its behalf, all as of the day and year first above written.
	 
	 
	E-Z-EM, INC.
	 
	By:	   /s/ Paul Echenberg	 	     /s/ Joseph Cacchioli
	 	
	 	

	 	 Paul Echenberg, Chairman of the Board	 	 Joseph Cacchioli

	

Page 14 of 14

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