Document:

Exhibit 10.39

AMENDMENT TO PLACEMENT AGENCY AGREEMENT

This AMENDMENT TO PLACEMENT AGENCY AGREEMENT (this “Amendment”)
is made effective as of January 31, 2007, by and between Commonwealth
Associates, L.P., a New York limited partnership (“Commonwealth”) and Averion
International Corp., a Delaware corporation (the “Company”).  Capitalized terms used in this Amendment
shall have the same meaning set forth in the Agreement, except as otherwise set
forth herein.

RECITALS

A.            The parties previously
entered into that certain Placement Agency Agreement dated as of October 17,
2006, as amended November 8, 2006 (the “Placement Agency Agreement”), pursuant
to which Commonwealth has acted as the placement agent for the Company in
connection with a private placement (the “Private Placement”).

B.            The Placement Agency
Agreement originally provided that the offering period for the Private
Placement shall continue until the earlier to occur of: (i) the sale of the
Maximum Offering; (ii) sixty (60) days following delivery to Commonwealth of
the Offering Documents; or (iii) December 31, 2006, which date may be extended
at Commonwealth’s option for up to thirty (30) days provided that the Minimum
Offering had been completed by December 31, 2006.  The day that the offering period terminates
is referred to as the “Termination Date.”

C.            The Minimum Offering
was completed on November 28, 2006.

D.            Upon completion of the
Minimum Offering, Commonwealth extended the Termination Date to January 31,
2007.

E.             It is now the desire
and intention of both the Company and Commonwealth to amend the Placement
Agency Agreement to extend the Termination Date to February 15, 2007.

NOW, THEREFORE, in consideration
of the foregoing facts and mutual agreements set forth below, the parties
intending to be legally bound, agree to amend the Placement Agency Agreement as
follows:

1.             Termination
Date Amendment.  The Placement Agency
Agreement is hereby amended to extend the Termination Date to February 15, 2007.

2.             Effectiveness.  This Amendment shall be deemed effective as
of the date hereof.

3.             Miscellaneous.

a.             Agreement
Amended.  Subject to the provision of
this Section 3, this Amendment shall be deemed to be an amendment to the
Placement Agency Agreement.  All
references to the Placement Agency Agreement in any other document, instrument
agreement or writing hereafter shall be deemed to refer to the Placement Agency
Agreement as amended hereby.

b.             Successors
and Assigns.  This Amendment shall be
binding upon and inure to the benefit of the Company, Commonwealth and their
respective successors and assigns.

c.             Governing
Law.  This Amendment and the rights
and obligations of the parties hereunder shall be construed in accordance with
and governed by the law of the State of New York, without regard to conflict of
laws principles.

d.             Counterparts.  This Amendment may be executed simultaneously
in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument.

[Signature
Page to Amendment to Placement Agency Agreement Follows]

 2

IN WITNESS WHEREOF, the parties
have each caused this Amendment to be duly executed and delivered by their
proper and duly authorized officers as of the day and year first above written.

	
  “Company”

  	
  Averion International Corp., a
  Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dr. Philip
  T. Lavin

  	
   

  
	
   

  	
  Name: Dr. Philip T. Lavin 

  
	
   

  	
  Title: Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
  “Commonwealth”

  	
  Commonwealth Associates, L.P.,
  a New York limited

  partnership

  
	
   

  	
   

  
	
   

  	
  By: Commonwealth Associates Management Company, Inc.
  

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert
  O’Sullivan 

  	
   

  
	
   

  	
  Name: Robert O’Sullivan 

  
	
   

  	
  Title: President

  
					

 

[Signature
Page to Amendment to Placement Agency Agreement]Exhibit 10.40

AMENDMENT TO PLACEMENT AGENCY AGREEMENT

This AMENDMENT TO PLACEMENT AGENCY AGREEMENT (this “Amendment”)
is made effective as of February 15, 2007, by and between Commonwealth
Associates, L.P., a New York limited partnership (“Commonwealth”) and Averion
International Corp., a Delaware corporation (the “Company”).  Capitalized terms used in this Amendment
shall have the same meaning set forth in the Agreement, except as otherwise set
forth herein.

RECITALS

A.            The parties previously
entered into that certain Placement Agency Agreement dated as of October 17,
2006, as amended November 8, 2006 and further amended on January 31, 2007 (the “Placement
Agency Agreement”), pursuant to which Commonwealth has acted as the placement
agent for the Company in connection with a private placement (the “Private
Placement”).

B.            The Placement Agency
Agreement originally provided that the offering period for the Private
Placement shall continue until the earlier to occur of: (i) the sale of the
Maximum Offering; (ii) sixty (60) days following delivery to Commonwealth of
the Offering Documents; or (iii) December 31, 2006, which date may be extended
at Commonwealth’s option for up to thirty (30) days provided that the Minimum
Offering had been completed by December 31, 2006.  The day that the offering period terminates
is referred to as the “Termination Date.”

C.            The Minimum Offering
was completed on November 28, 2006.

D.            Upon completion of the
Minimum Offering, Commonwealth extended the Termination Date to January 31, 2007.

E.             Pursuant to the
amendment to the Placement Agency Agreement on January 31, 2007, the parties
mutually agreed to extend the Termination Date to February 15, 2007.

F.             It is now the desire
and intention of both the Company and Commonwealth to amend the Placement
Agency Agreement to extend the Termination Date to March 15, 2007.

NOW, THEREFORE, in consideration
of the foregoing facts and mutual agreements set forth below, the parties
intending to be legally bound, agree to amend the Placement Agency Agreement as
follows:

1.             Termination
Date Amendment.  The Placement Agency
Agreement is hereby amended to extend the Termination Date to March 15, 2007.

2.             Effectiveness.  This Amendment shall be deemed effective as
of the date hereof.

3.             Miscellaneous.

a.             Agreement
Amended.  Subject to the provision of
this Section 3, this Amendment shall be deemed to be an amendment to the
Placement Agency Agreement.  All
references to the Placement Agency Agreement in any other document, instrument
agreement or writing hereafter shall be deemed to refer to the Placement Agency
Agreement as amended hereby.

b.             Successors
and Assigns.  This Amendment shall be
binding upon and inure to the benefit of the Company, Commonwealth and their
respective successors and assigns.

c.             Governing
Law.  This Amendment and the rights
and obligations of the parties hereunder shall be construed in accordance with
and governed by the laws of the State of New York, without regard to conflict
of laws principles.

d.             Counterparts.  This Amendment may be executed simultaneously
in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument.

[Signature
Page to Amendment to Placement Agency Agreement Follows]

 2

IN WITNESS WHEREOF, the parties
have each caused this Amendment to be duly executed and delivered by their
proper and duly authorized officers as of the day and year first above written.

	
  “Company”

  	
  Averion International Corp., a
  Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dr. Philip
  T. Lavin 

  	
   

  
	
   

  	
  Name: Dr. Philip T. Lavin 

  	
   

  
	
   

  	
  Title: Chief Executive Officer

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  “Commonwealth”

  	
  Commonwealth Associates, L.P., a
  New York limited

  partnership

  
	
   

  	
   

  
	
   

  	
  By: Commonwealth Associates Management Company, Inc.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert
  O’Sullivan 

  	
   

  
	
   

  	
  Name: Robert O’Sullivan 

  	
   

  
	
   

  	
  Title: President

  	
   

  

 

[Signature
Page to Amendment to Placement Agency Agreement]Exhibit
10.16

AMENDED
AND RESTATED EMPLOYMENT AGREEMENT dated as of March 29, 2007
(as amended, modified or supplemented from time to time, this “Agreement”),
among BRUCE W. ELDER (the “Executive”),
MEDQUEST, INC., a Delaware corporation
(the “Company”), and MQ ASSOCIATES, INC.,
a Delaware corporation and parent entity of the Company (the “Parent”).

WHEREAS, the Company and
Executive are parties to an Employment Agreement dated August 15, 2002 (the “Original
Employment Agreement”) and desire to continue the employment of Executive as a
senior executive of the Company, and Executive has agreed to continue such
employment, on the terms and conditions set forth in this Agreement;

WHEREAS, the Parent, the Company
and Executive desire to amend and restate the Original Employment Agreement in
its entirety by entering into this Agreement;

NOW, THEREFORE, in consideration
of the mutual promises and covenants contained herein, the parties agree as
follows:

1.             Employment.  The Company hereby employs the Executive and the
Executive accepts such employment upon the terms and conditions hereinafter set
forth.

2.             Term
of Employment.  Subject to earlier
termination pursuant to the provisions of Section 6, the term of the
Executive’s employment pursuant to this Agreement shall commence on and as of
the date hereof (the “Effective Date”) and shall terminate on the third
anniversary of the Effective Date, subject to automatic annual extensions for
successive periods of one year each as of the third anniversary of the
Effective Date and each anniversary thereafter, unless either party gives
written notice of nonrenewal to the other at least 60 days before the term
would otherwise terminate (such period, the “Employment Period”).

3.             Duties;
Extent of Service.  During the
Employment Period, the Executive (a) shall serve as a senior executive officer
of the Company and the Parent with the title and position of Vice President,
Development, reporting to the Chief Executive Officer, and (b) shall have
supervisory responsibility in such capacity over matters as may be specified
from time to time by the Chief Executive Officer, consistent with the Executive’s
position and general area of experience and skills, provided,
that in all cases the Executive shall be subject to the oversight and supervision
of the Chief Executive Officer in the performance of his duties, (c) upon the
request of the Chief Executive Officer, shall serve as an officer and/or
director of any of the Company’s subsidiaries and/or other affiliates, and (d)
shall render all services reasonably incident to the foregoing.  The Executive hereby accepts such employment,
agrees to serve in the capacities indicated, and agrees to use the Executive’s
best efforts in, and shall devote the Executive’s full working time, attention,
skill and energies to the advancement of the interests of the Company, the
Parent and their subsidiaries and to the performance of the Executive’s duties
and responsibilities hereunder. The Executive shall not during the Employment
Period be

engaged
in any other business activity that, in the reasonable judgment of the Board of
Directors of the Parent and/or the Company (the “Board of Directors”), would
conflict with the ability of the Executive to perform his duties under this
Agreement, whether or not such activity is pursued for gain, profit or other
pecuniary advantage.

4.             Salary
and Bonus.

a.             Base
Salary.   During the Employment Period, the Company shall
pay the Executive total base compensation at the rate of $225,000.00 per annum,
subject to increase from time to time at the discretion of the Chief Executive
Officer or the Board of Directors (as in effect from time to time, the “Base
Salary”).  Such Base Salary shall be
subject to withholding under applicable law, shall be pro rated for partial
years and shall be payable in periodic installments not less frequently than
monthly in accordance with the Company’s usual practice for senior executive
officers of the Company as in effect from time to time.

b.             Annual
Bonus.   During the Employment Period, in addition to the
Base Salary, the Executive shall be eligible to receive an annual bonus (the “Annual
Bonus”) from the Company, based upon the achievement of certain annual
objectives and/or Company performance (the “Bonus Objectives”) to be
mutually agreed upon by the Executive and the Chief Executive Officer.  If 100% of the Bonus Objectives shall be
satisfied by the Executive, such Annual Bonus shall be equal to 50% of the Base
Salary (the “Target Annual Bonus”). 
The Annual Bonus will be reduced ratably if less than 100% of such Bonus
Objectives shall be satisfied and the Executive will have an opportunity, based
solely on the discretion of the Chief Executive Officer, to earn an Annual
Bonus in excess of the Target Annual Bonus taking into account personal
performance, bonus awards made to other members of the Company’s senior
management team and Company performance. 
The Annual Bonus calculated with respect to any fiscal year will be
earned and accrued, to the extent the Bonus Objectives shall be achieved, if
the Executive is an employee of the Company on the last day of such fiscal
year.

c.             Equity.   The
Company shall recommend to the Board of Directors that the Executive
participate in the Company’s stock option or other equity interest plans in
effect from time to time, with grants, exercise prices, vesting and other
provisions that are commensurate with the Executive’s position and
responsibilities and the grants provided to other members of senior management.

5.             Benefits.

a.             Effective
from and after the first day of the month following the 30th day of the Employment Period, or such earlier
date as may be permitted pursuant to the terms of the applicable plans or
policies, and throughout the remainder of the Employment Period, the Executive
shall be entitled to participate in any and all medical, dental, vision care,
short and long term disability, life insurance, and accidental death and
disability plans, retirement arrangements and automobile allowance programs as
in effect from time to time for senior executive officers of the Company
generally and approved by the Board of Directors.  Such participation shall be subject to (i)
the terms of the applicable plan documents (including, as applicable,
provisions granting discretion to the Board of Directors or any administrative
or other

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committee
provided for therein or contemplated thereby) and (ii) generally applicable
policies of the Company.

b.             During
the Employment Period, to the extent permitted by law, the Executive shall be
entitled to four (4) weeks paid vacation during each twelve (12) month period
worked, commencing on the Effective Date; provided, however, that
the Executive shall be entitled to accumulate not more than eight (8) weeks of
unused vacation for which the Executive shall be compensated if the Executive’s
employment is terminated.

c.             The
Company shall promptly reimburse Executive for all reasonable business expenses
incurred by Executive during the Employment Period in accordance with the
Company’s practices for senior executive officers of the Company as in effect
from time to time.

d.             Compliance
with the provisions of this Section 5 shall in no way create or be
deemed to create any obligation, express or implied, on the part of the Parent
or any of its affiliates with respect to the continuation of any particular
benefit or other plan or arrangement maintained by them or their affiliates as
of or prior to the date hereof or the creation and maintenance of any
particular benefit or other plan or arrangement at any time after the date hereof.

6.             Termination
and Termination Benefits; Effect of Termination.   Notwithstanding
the provisions of Sections 2 or 3, the Executive’s
employment under this Agreement shall terminate under the following
circumstances:

a.             Termination
by the Company for Cause.   The Employment Period may be
terminated by the Company for Cause without further liability on the part of
the Company or any of its affiliates upon written notice to the Executive, such
termination to be effective on the date specified in such notice.  “Cause” means (i) a failure by the
Executive to observe policies of the Parent and its affiliates generally
applicable to executives of the Parent and its affiliates that causes material
harm to the Parent or its affiliates, (ii) gross negligence or willful
misconduct by the Executive in the performance of his duties, (iii) failure by
the Executive to substantially perform the duties contemplated by Section 3
hereof, which failure is not remedied within ten (10) days after a written
notice of such failure is delivered to the Executive by the Company, (iv) the
commission by the Executive of any act of fraud, theft or financial dishonesty
with respect to the Company, the Parent or any of its or their affiliates, (v)
the Executive’s indictment, conviction of, or pleading no contest or nolo
contendere to, any felony or a lesser crime involving dishonesty or (vi) the
material breach by the Executive of this Agreement (including, without
limitation, the failure to perform his duties hereunder in accordance with Section
3 hereof other than absences due to illness, injury, vacations or
holidays), or any other material agreement or contract between or among the
Executive, the Company, the Parent or any of its or their affiliates, which
breach (if susceptible to cure) is not cured by the Executive within ten (10) days
following written notice by the Company to the Executive of such breach.

b.             Termination
by the Executive.   The Employment Period may be terminated
by the Executive by written notice to the Chief Executive Officer without Good

 3
 

Reason
at least 180 days prior to such termination (provided that the Chief Executive
Officer will discuss with the Executive in good faith a shorter notice period
prior to such termination if the Chief Executive Officer deems that to be
appropriate) and with Good Reason at least 30 days prior to such termination,
such termination to be effective on the date specified in such notice.  “Good Reason” means (i) a reduction in
the Executive’s Base Salary, (ii) a material reduction in the Executive’s
duties or reporting relationships provided in this Agreement or (iii) a
material breach of this Agreement by the Company; provided, however,
that if the Executive consents to such relocation, or actually relocates, such
relocation requirement shall not constitute Good Reason.

c.             Termination
by the Company Without Cause.   The Employment Period under
this Agreement may be terminated by the Company without further liability on
the part of the Company or any of its affiliates without Cause upon written
notice to the Executive, such termination to be effective as of the date of
such notice.

d.             Certain
Termination Benefits.   Unless otherwise specifically
provided in this Agreement, all of the Company’s obligations under this
Agreement shall terminate on the date of termination of the Employment
Period.  Notwithstanding the foregoing,
in the event of termination of the Executive’s employment with the Company by
the Executive for Good Reason or by the Company without Cause (including a
termination without Cause as contemplated by the last paragraph of Section
8.a), the Company shall provide to Executive the following termination
benefits (“Termination Benefits”):

(i)            continuation of the
Executive’s Base Salary at the rate then in effect pursuant to Section 4.a;

(ii)           an amount equal to the
product of (A) that portion, expressed as a percentage, of the year-to-date
Bonus Objectives realized by the Executive as of the date of such termination
and (B) the product of (x) the quotient obtained by dividing (I) the number of
calendar days elapsed from the beginning of the respective calendar year to the
date of such termination by (II) 365 and (y) the Target Annual Bonus with
respect to the year of termination for which the Executive is eligible, which
amount shall be paid to the Executive at the frequency and in the manner
provided for payments pursuant to clause (i) above; provided, however,
that in the event that such termination without Cause or for Good Reason shall
be effective on the date of the consummation of a Sale of the Company (as
defined in that certain Stockholders’ Agreement, dated as of August 15, 2002,
as amended from time to time, among the Parent and the stockholders party
thereto (the “Stockholders’ Agreement”)) or, within 180 days thereafter,
such amount shall be payable on the effective date of such termination; and

(iii)          continuation of group
health, dental, and disability plan benefits as described in Section 5.a
of this Agreement, with the cost for such benefits shared in the same relative
proportion by the Company and the Executive as in effect on the date of
termination.

 4
 

The Termination
Benefits set forth in clauses (i) and (iii) above shall continue, so long as
the Executive is in compliance with the Executive’s continuing obligations
under this Agreement, until twelve (12) months after the date of termination; provided,
however, that in the event that such termination without Cause or for
Good Reason shall be effective on the date of the consummation of a Sale of the
Company (as defined in Section 6(d)(ii) hereof) or, within 180 days thereafter,
the Termination Benefits set forth in clause (i) shall be in an amount equal to
two times Executive’s Base Salary and shall be payable on the effective date of
such termination.  The Company and the
Executive agree that the Termination Benefits paid by the Company to the
Executive under this Section 6.d shall be contingent upon the Executive’s
delivery of a general release of any and all claims (other than those arising
under this Section 6.d and Section 6.f) upon termination of
employment in the form attached hereto as Exhibit A (with such changes
as may be necessitated by any change in law after the date hereof to obtain the
full benefits thereunder), it being understood that no Termination Benefits
shall be provided unless and until the Executive executes and delivers such
release and such release shall not be revoked. 
Notwithstanding anything contained
herein to the contrary, any payment required to be made pursuant to clause
(ii) above that would result in a violation of, or a default under, any
agreement governing any indebtedness for borrowed money of the Parent or any of
its affiliates, shall not be made so
long as such agreement would prohibit such payment or such payment would result
in a violation or default thereunder; provided, however, that the
Parent shall use its good faith efforts to negotiate with the lenders under any
such agreement to permit the payment of such amounts as promptly as
practicable.  Any such delay in making
such payments shall not be deemed to be a violation of this Agreement so long
as the Employment Period and/or termination date shall be extended until such
time as such payments are made; provided, however, that any
compensation that Executive shall receive from the Company during such
extension of the Employment Period and/or termination date shall be offset
against, and in no event shall be greater than, the aggregate amount of the aforementioned
delayed payments.  The Executive shall
not be required to mitigate the amount of any payment provided for in this Section
6 by seeking other employment or otherwise, and the amount of any payment
or benefit provided for in this Section 6 shall not be reduced by any
compensation earned by the Executive as the result of employment by another
employer or by retirement benefits.

e.             Death
or Disability.  The Executive’s
employment and all obligations of the Company hereunder shall terminate upon
the death or Disability of the Executive, other than the obligation to pay the
greater of (A) the product of (x) the aggregate amount of the Annual Bonus the
Executive received in the preceding calendar year and (y) that portion,
expressed as a percentage, of the Bonus Objectives for the calendar year of
termination realized by the Executive as of the date of such termination and
(B) the prorated bonus amount as calculated pursuant to Section 6.d(ii).  “Disability” means a condition under
which the Executive is unable due to illness or injury to perform the essential
functions of the Executive’s then existing position or positions under this
Agreement for a continuous six-month period with reasonable accommodation, as
determined in the sole discretion of the Chief Executive Officer.

f.              Continuing
Obligations.  Notwithstanding
termination of the Employment Period or any other provision hereof, the Company
shall remain obligated to pay (without duplication of any payment hereunder)
all earned (to the date of such termination of the Employment Period) but
unpaid Base Salary, the earned and accrued Annual Bonus for any completed
fiscal year as of the date of termination of the Employment Period (to the
extent the

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Bonus
Objectives shall have been achieved) as set forth in this Section 6,
benefits, payments, or rights to which the Executive remains entitled after the
termination of the Employment Period pursuant to the terms of any agreement,
plan, program or policy, and reimbursement for business expenses incurred to
the date of termination of the Employment Period that are reimbursable in accordance
with the terms of this Agreement. 
Notwithstanding termination of this Agreement as provided in this Section
6 or any other termination of the Executive’s employment with the Company,
the Executive’s obligations under Section 7 and Section 8 hereof
shall survive any termination of the Executive’s employment with the Company at
any time and for any reason.

g.             Effect
of Termination.   Effective immediately upon termination of
the Employment Period, regardless of reason, and without the necessity of any
further action on the part of the Executive, the Company or any other person,
the Executive’s service (i) on any and all boards of directors, boards of
managers or similar governing bodies of any of the Parent and any of its
subsidiaries, (ii) as an officer of the Parent and any of its subsidiaries and
(iii) as an employee of the Parent and any of its subsidiaries shall, in each
case, be terminated and the Executive shall be deemed to have resigned from any
and all such positions then held by the Executive.

7.             Confidentiality;
Proprietary Rights.

a.             In
the course of performing services hereunder on behalf of the Parent, the
Company (including all predecessors and successors of each of the Parent and
the Company) and its and their affiliates (the Parent and its subsidiaries
collectively, the “Employer Parties”), the Executive from time to time
will have access to Confidential Information (as defined below).  The Executive agrees (a) to hold the
Confidential Information in strict confidence, (b) not to disclose the
Confidential Information to any person (other than in the ordinary course of
the regular business of the Employer Parties), and (c) not to use, directly or
indirectly, any of the Confidential Information for any purpose other than on
behalf of the Employer Parties.  All
documents, records, data, apparatus, equipment and other physical property,
whether or not pertaining to Confidential Information, that are furnished to
the Executive by any Employer Party or are produced by the Executive in
connection with the Executive’s employment will be and remain the sole property
of the applicable Employer Party.  Upon
the termination of the Employment Period for any reason and as and when
otherwise requested by any Employer Party, all Confidential Information (including,
without limitation, all data, memoranda, customer lists, notes, programs and
other papers and items, and reproductions thereof relating to the foregoing
matters) in the Executive’s possession or control shall be immediately returned
to the Company.

b.             The
Executive hereby confirms that the Executive is not bound by the terms of any
agreement with any previous employer or other party that restricts in any way
the Executive’s engagement in any business. 
The Executive represents to the Company that the Executive’s execution
of this Agreement, the Executive’s employment with the Company and the
performance of the Executive’s proposed duties for the Employer Parties will
not violate any obligations the Executive may have to any such previous
employer or other party.  In the
Executive’s work for the Employer Parties, the Executive will not disclose or
make use of any information in violation of any agreements with or rights of
any such previous employer or other party, and the Executive will not bring to
the premises of the Employer Parties any copies or

 6
 

other
tangible embodiments of non-public information belonging to or obtained from
any such previous employment or other party. 
The Executive represents and warrants that he is not a party to any
consulting or advisory agreement with any third party (including a previous
employer) that would interfere with the Executive’s performance of his
obligations and duties hereunder and the Executive shall advise and update the
Chief Executive Officer (including providing copies of notices, agreements and
other relevant documentation) from time to time and as requested by the Chief
Executive Officer of any matters or developments relating to his relationship
with any previous employer.

c.             During
and after the Employment Period, the Executive shall reasonably cooperate with
the Employer Parties in the defense or prosecution of any claims or actions now
in existence or which may be brought in the future against or on behalf of any
Employer Party or any of their respective affiliates that relate to events or
occurrences that transpired while the Executive was employed by the
Company.  The Executive’s reasonable
cooperation in connection with such claims or actions shall include, but not be
limited to, being available to meet with counsel to prepare for discovery or
trial and to act as a witness on behalf of the Employer Parties or any of their
respective affiliates at mutually convenient times.  During and after the Employment Period, the
Executive also shall reasonably cooperate with the Employer Parties in
connection with any investigation or review of any federal, state or local
regulatory authority as any such investigation or review relates to events or
occurrences that transpired while the Executive was employed by the
Company.  The Company shall reimburse the
Executive for any reasonable out-of-pocket expenses incurred in
connection with the Executive’s performance of obligations pursuant to this Section
7.c, and in the event the Executive’s performance of obligations under this
Section 7.c requires more than 20 hours of the Executive’s time, the
Company will pay the Executive a reasonable hourly rate beginning only as of
such 21st hour.

d.             The
Executive recognizes that the Employer Parties and their respective affiliates
possess a proprietary interest in all of the information described in Section
7.a and have the exclusive right and privilege to use, protect by
copyright, patent or trademark, or otherwise exploit the processes, ideas and
concepts described therein to the exclusion of the Executive, except as
otherwise agreed between the Company and the Executive in writing.  The Executive expressly agrees that any
products, inventions or discoveries made by the Executive or the Executive’s
agents or affiliates in the course of the Executive’s employment, including any
of the foregoing that is based on or arises out of the information described in
Section 7.a, shall be the property of and inure to the exclusive benefit
of the Company.  The Executive further
agrees that any and all products, inventions, or discoveries developed by the
Executive (whether or not able to be protected by copyright, patent or
trademark) during the course of his employment, or involving the use of the
time, materials or other resources of the Employer Parties or any of their
respective affiliates, shall be promptly disclosed to the Company and shall
become the exclusive property of the Company, and the Executive shall execute
and deliver any and all documents necessary or appropriate to implement the
foregoing.

e.             During
the Employment Period, the Executive will offer or otherwise make known or
available to the Company, as directed by the Chief Executive Officer or Board
of Directors and without additional compensation or consideration, any business
prospects, contracts or other business opportunities that the Executive may
discover, find,

 7
 

develop
or otherwise have available to the Executive in the Company’s general industry
and further agrees that any such prospects, contacts or other business
opportunities shall be the property of the Company (or other appropriate
Employer Party, as applicable).

f.              The
Executive acknowledges that the provisions of this Section 7 and the
following Section 8 are an integral part of the Executive’s employment
arrangements with the Company.

g.             For
purposes of this Agreement, the term “Confidential Information” shall
mean: information belonging to any Employer Party that is of value to any
Employer Party or with respect to which any Employer Party has rights in the course
of conducting its respective business and the disclosure of which could result
in a competitive or other disadvantage to any Employer Party.  Confidential Information includes
information, whether or not patentable or copyrightable, in written, oral,
electronic or other tangible or intangible forms, stored in any medium,
including, by way of example and without limitation, trade secrets, ideas,
concepts, designs, configurations, specifications, drawings, blueprints,
diagrams, models, prototypes, samples, flow charts, processes, techniques,
formulas, software, improvements, inventions, data, know-how, discoveries,
copyrightable materials, marketing plans and strategies, sales and financial
reports and forecasts, studies, reports, records, books, contracts,
instruments, surveys, computer disks, diskettes, tapes, computer programs and
business plans, prospects and opportunities (such as possible acquisitions or
dispositions of businesses or facilities) that have been discussed or
considered by the management of any Employer Party.  Confidential Information includes information
developed by the Executive in the course of the Executive’s employment by the
Company, as well as other information to which the Executive may have access in
connection with the Executive’s employment. 
Confidential Information also includes the confidential information of
others with which any Employer Party has a binding confidentiality
agreement.  Notwithstanding the
foregoing, Confidential Information does not include information in the public
domain, unless due to breach of the Executive’s duties under Section 7.a.

8.             Non-Competition;
Non-Solicitation; Other Boards.

a.             The
Executive acknowledges that, in the course of his employment with the Company
and/or its affiliates and their predecessors, he will become familiar with the
Company’s and its affiliates’ and their predecessors’ trade secrets and with
other confidential information concerning the Company, its affiliates and their
respective predecessors and that his services will be of special, unique and
extraordinary value to the Company and its affiliates.  Therefore, the Executive agrees that, during
the Employment Period and for one (1) year thereafter (the “Non-Compete
Period”), he shall not directly or indirectly own, manage, control,
participate in, consult with, render services for, or in any manner engage in
or represent any business competing with the Business of the Company or its
affiliates within any Restricted Territory. 
“Business” means the management and/or operation of outpatient
diagnostic imaging centers.  “Restricted
Territory” means the states and/or other territories set forth on Schedule
I; provided, that, not less than annually, the Company and the
Executive shall update Schedule I to (i) add to Schedule I any
states or other territories in which the Company or its affiliates is then
conducting its Business and (ii) delete from Schedule I any states or
other territories in which the Company or its affiliates is no longer
conducting its Business; provided, further, that, in the

 8
 

event
that the Company and the Executive fail to agree on any such update, the
then-existing Schedule I (as may have been previously amended) shall
govern.

Notwithstanding
the foregoing, if the Executive’s employment is terminated as a result of a
scheduled expiration of the Employment Period or a nonrenewal as provided in Section
2, or if the Company fails to provide the post-termination benefits
pursuant to Section 6.d, the Executive shall not be bound by the
non-competition and non-solicitation restrictions in this Section 8,
except to the extent that the Company notifies the Executive in writing on or
prior to the date of such scheduled expiration or nonrenewal that the Company
has elected to treat such scheduled expiration or nonrenewal as a Termination
without Cause.

b.             Nothing
herein shall prohibit the Executive from being a passive owner of not more than
2% of the outstanding stock of any class of a corporation that is publicly
traded, so long as the Executive has no active participation in the business of
such corporation.

c.             During
the Non-Compete Period, the Executive shall not directly, or indirectly through
another person or entity, (i) induce or attempt to induce any employee of any
Employer Party to leave the employ of such Employer Party, or in any way
interfere with the relationship between such Employer Party, on the one hand,
and any employee thereof, on the other hand, (ii) hire any person who was an
employee of any Employer Party until sixty (60) days after such individual’s
employment relationship with such Employer Party has been terminated or (iii)
induce or attempt to induce any customer, supplier, licensee or other business
relation of any Employer Party to cease doing business with such Employer
Party, or in any way interfere with the relationship between any such customer,
supplier, licensee or business relation, on the one hand, and such Employer
Party, on the other hand.

d.             The
Executive understands that the foregoing restrictions may limit his ability to
earn a livelihood in a business similar to the business of the Employer
Parties, but he nevertheless believes that he will receive sufficient
consideration and other benefits as an employee of the Company and the Parent
and as otherwise provided hereunder to clearly justify such restrictions
(including any restrictions imposed in the future by any amendment to Schedule
I mutually agreed upon by the Company and the Executive) which, in any
event (given his education, skills and ability), the Executive does not believe
would prevent him from otherwise earning a living.  The Executive has carefully considered the
nature and extent of the restrictions placed upon him by this Agreement, and
hereby acknowledges and agrees that the same are reasonable in time and
territory (including as such territory as may hereafter be amended by mutual
agreement of the Company and the Executive) and do not confer a benefit upon
any Employer Party disproportionate to the detriment of the Executive.

9.             Non-Disparagement.  From the Effective Date through the date that
is the second anniversary of the date of the termination of the Employment
Period, the Executive agrees that he will not make, or cause to be made, any
statement, observation, or opinion, or communicate any information (whether
oral or written), to any person other than a member of the Board of Directors,
that disparages any Employer Party or is likely in any way to harm the business
or the reputation of any Employer Party, or any of their respective former,
present, or future directors, officers, stockholders or employees.

 9
 

10.           Certain
Restrictions on Transfers; Fees in Connection with Certain Sales of Common
Stock.  If the Parent at any time
shall register an offering and sale of shares of Common Stock under the
Securities Act of 1933, as amended (or any successor statute thereto) (the “Securities
Act”), in an underwritten offering (i) pursuant to an initial public
offering or (ii) pursuant to any other registration under the Securities Act
(other than on Form S-4 or Form S-8 promulgated under the Securities Act or any
successor forms thereto), if requested by the managing underwriter(s) and
provided that the directors and officers of the Parent are so restricted, the
Executive shall not sell, make any short sale of, grant any option for the
purchase of, or otherwise dispose of any capital stock of the Parent (other
than (A) any shares of Common Stock held by, or issuable to, the Executive that
are included in such registration or (B) a Permitted Transfer (as defined in
the Stockholders’ Agreement)) without the prior written consent of the Parent
for a period as shall be determined by the managing underwriters, which period
cannot begin more than seven (7) days prior to the effectiveness of such
registration statement and cannot last more than ninety (90) days (180 days in
the case of the Parent’s or the Company’s initial public offering) after the
effective date of such registration statement.

11.           Parties
in Interest; Certain Remedies.  It is
specifically understood and agreed that this Agreement is intended to confer a
benefit, directly and indirectly, on the Parent, the Company and their direct
and indirect subsidiaries and affiliates, and that any breach of the provisions
of this Agreement by the Executive will result in irreparable injury to the
Parent, the Company and their subsidiaries and affiliates, that the remedy at
law alone will be an inadequate remedy for such breach and that, in addition to
any other remedy it may have, the Parent, the Company or their subsidiaries and
affiliates shall be entitled to enforce the specific performance of this
Agreement by the Executive through both temporary and permanent injunctive
relief without the necessity of posting a bond or proving actual damages, but
without limitation of their right to damages and any and all other remedies
available to them, it being understood that injunctive relief is in addition
to, and not in lieu of, such other remedies.

12.           Notices.  All notices, requests, demands and other
communications hereunder shall be in writing and shall be deemed to have been
duly given if faxed (with transmission acknowledgment received), delivered
personally or by nationally recognized overnight courier (providing proof of
delivery) or mailed by certified or registered mail (return receipt requested)
as follows:

To the Company or the Parent:

MedQuest, Inc.

3480 Preston Ridge Road

Alpharetta, GA 30005

Fax: (770) 734-9652

Attention: Chief Executive Officer

with a copy to:

MedQuest, Inc.

3480 Preston Ridge Road

Alpharetta, GA 30005

 10
 

Fax: (770) 734-9652

Attention: General Counsel

To Executive:

c/o MedQuest, Inc.

3480 Preston Ridge Road

Alpharetta, GA 30005

Fax: (770) 734-9652,

or to such other
address or fax number of which any party may notify the other parties as
provided above.  Notices shall be
effective as of the date of such delivery, mailing or fax.

13.           Scope
of Agreement.   The parties acknowledge that the time,
scope, geographic area (including as such geographic area may be amended
pursuant to Section 8) and other provisions of Section 8 hereof
have been specifically negotiated by sophisticated parties and agree that all
such provisions are reasonable under the circumstances of the transactions
contemplated hereby, and are given as an integral and essential part of the
transactions contemplated hereby.  The
Executive has independently consulted with counsel and has been advised in all
respects concerning the reasonableness and propriety of the covenants contained
herein, with specific regard to the business to be conducted by the Parent, the
Company and their subsidiaries and affiliates, and represents that this
Agreement is intended to be, and shall be, fully enforceable and effective in
accordance with its terms.

14.           Severability.   In
the event that any covenant contained in this Agreement shall be determined by
any court of competent jurisdiction to be unenforceable by reason of its
extending for too great a period of time or over too great a geographical area
or by reason of its being too extensive in any other respect, it shall be
interpreted to extend only over the maximum period of time for which it may be
enforceable and/or over the maximum geographical area as to which it may be
enforceable and/or to the maximum extent in all other respects as to which it
may be enforceable, all as determined by such court in such action.  The existence of any claim or cause of action
that the Executive may have against the Parent, the Company or any of their
subsidiaries or affiliates shall not constitute a defense or bar to the
enforcement of any of the provisions of this Agreement.

15.           No
Amendment of Certain Indemnification Provisions.   The
Employer Parties shall not amend or modify their respective certificates of
incorporation to reduce the breadth of indemnification available thereunder for
directors of the Employer Parties from that in effect as of the date
hereof.  If an Employer Party shall enter
into indemnification agreements with its directors or officers providing
indemnification related to their positions as directors or officers, as
applicable, the Executive shall be entitled to enter into the same
indemnification agreement as the Employer Party shall enter into with such
other directors or officers, as applicable.

16.           Miscellaneous.   This
Agreement shall be governed by and construed under the laws of the State of
Georgia, without consideration of its choice of law provisions, and shall not
be amended, modified or discharged in whole or in part except by an agreement
in writing

 11
 

signed
by both of the parties hereto.  The
failure of either of the parties to require the performance of a term or
obligation or to exercise any right under this Agreement or the waiver of any
breach hereunder shall not prevent subsequent enforcement of such term or
obligation or exercise of such right or the enforcement at any time of any
other right hereunder or be deemed a waiver of any subsequent breach of the
provision so breached, or of any other breach hereunder.  This Agreement shall inure to the benefit of,
and be binding upon and assignable to, successors of the Employer Parties by
way of merger, consolidation or sale and may not be assigned by the
Executive.  This Agreement supersedes and
terminates all prior understandings and agreements between the parties (or
their predecessors) relating to the subject matter hereof.  For purposes of this Agreement, the term “person”
shall be construed broadly and shall include an individual, a partnership, a
corporation, a limited liability company, an association, a joint stock
company, a trust, a joint venture, an unincorporated organization or a
governmental authority (or any department, agency or political subdivision
thereof); a “subsidiary” of a person means any corporation more than 50
percent of whose outstanding voting securities, or any partnership, joint
venture or other entity more than 50 percent of whose total equity interest, is
directly or indirectly owned by such person; and an “affiliate” of a
person shall mean, with respect to a person or entity, any person or entity
which directly or indirectly controls, is controlled by, or is under common
control with such person or entity.

17.           Arbitration.   Except
with respect to matters as to which injunctive relief may be sought pursuant to
Section 11 hereof, all disputes relating to the Executive’s employment
by the Company or the Parent or pursuant to this Agreement shall be submitted
to arbitration in Atlanta, Georgia and shall be subject to the commercial
arbitration rules of the American Arbitration Association then in effect.  Each of the Company, the Parent and the
Executive shall bear its or his own costs and expenses related to such
arbitration; provided, that, notwithstanding the foregoing, the Company
shall pay that portion of the Executive’s reasonable expenses relating to such
dispute equal to the percentage of claims, based on dollar amounts (out of the
aggregate of such claims adjudicated) (if at all) under which the Executive
shall have prevailed in the arbitration, as finally determined by the
arbitrator, who shall specifically be asked to render a decision on such point.

18.           Parachute
Payment.   Notwithstanding any other provision of this
Agreement or any other agreement, if the aggregate payments and benefits
payable to the Executive under this Agreement and under any other plan, program,
arrangement, or agreement of the Parent or an affiliate would result in a “parachute
payment” (within the meaning of Section 280G of the Internal Revenue Code),
then the payments and benefits under this Agreement, or any other agreement,
arrangement, program or plan will be reduced to the minimum extent necessary to
cause no such parachute payment to occur, but such reduction will be made only
if the aggregate payments and benefits as so reduced would result in the
Executive retaining a larger after-tax (taking into account all income,
employment and excise taxes applicable to the Executive) amount than if no such
reduction were made.  If such reduction
is to be made, the Executive shall select which payments and benefits will be
reduced.

*       *       
*

 12

IN WITNESS WHEREOF, the parties
have executed this Employment Agreement as of the date first set forth above.

 

	
  

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  MEDQUEST, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ C. Christian Winkle

  
	
   

  	
   

  	
  Name: C. Christian Winkle

  
	
   

  	
   

  	
  Title: Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PARENT:

  
	
   

  	
   

  
	
   

  	
  MQ ASSOCIATES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ C. Christian Winkle

  
	
   

  	
   

  	
  Name: C. Christian Winkle

  
	
   

  	
   

  	
  Title: Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ Bruce W. Elder

  
	
   

  	
   

  	
  Bruce W. Elder

  

 

Schedule
I

Restricted Territory

1.                                      Georgia

2.                                      North
Carolina

3.                                      South
Carolina

4.                                      Arizona

5.                                      Florida

6.                                      Missouri

7.                                      Alabama

8.                                      Tennessee

9.                                      Virginia

10.                                Texas

11.                                Wisconsin

12.                                New
Mexico

13.                                Illinois

Exhibit A

Form of
General Release

In consideration of the payments and benefits set forth in your
Employment Agreement dated as of                     ,
2007 (as may be amended from time to time, the “Employment Agreement”)
with each of MQ ASSOCIATES, INC. and MEDQUEST, INC. (collectively, the “Companies”), you
voluntarily, knowingly and willingly release and forever discharge the
Companies, their subsidiaries, affiliates and parents, together with each of
those entities’ respective officers, directors, shareholders, employees,
agents, fiduciaries and administrators (collectively, the “Releasees”)
from any and all claims and rights of any nature whatsoever that you now have
or in the future may have against them solely arising from, or relating to,
your relationship with the Companies. 
This release includes, but is not limited to, any rights or claims
relating in any way to your employment relationship with the Companies or any
of the other Releasees or the termination thereof, any contract claims (express
or implied, written or oral), or any rights or claims under any statute,
including, without limitation, the Americans with Disabilities Act, the Age
Discrimination in Employment Act, the Older Workers’ Benefit Protection Act,
the Rehabilitation Act of 1973 (including Section 504 thereof), the
Family Medical Leave Act, Title VII of the 1964 Civil Rights Act, the Civil
Rights Act of 1866 (42 U.S.C. § 1981), the Civil Rights Act of 1991, the Equal
Pay Act, the Fair Labor Standards Act, the National Labor Relations Act, the
Worker Adjustment and Retraining Notification Act, the Employee Retirement
Income Security Act of 1974, all as amended, Georgia state law and any other
federal, state or local law.  This
release specifically includes, but is not limited to, any claims based upon the
right to the payment of wages, bonuses, vacation, pension benefits, 401(k) plan
benefits, stock benefits or any other employee benefits (unless expressly
provided to be payable after the date hereof pursuant to the Employment
Agreement), or any other rights arising under federal, state or local laws
prohibiting discrimination and/or harassment on the basis of race, color, age,
religion, sex, national origin, mental or physical disability, military status,
harassment or any other basis prohibited by law.

By
signing and returning this General Release, you acknowledge that you:

(a)  have
had at least twenty-one (21) days to review and consider its terms;

(b)  have
carefully read and fully understand the terms of this General Release;

(c)  are
entering into this General Release voluntarily and knowing that you are
releasing claims that you have or may have against the Company, including any
claims under the Age Discrimination in Employment Act;

(d)  have
had a reasonable opportunity to seek advice from an attorney of your choosing
prior to signing this General Release;

(e)  release
all claims that arise up to and including the date of execution of this General
Release in return for the consideration specified in the Employment Agreement,
to which you otherwise would not have been entitled; and

(f)  have
been advised to consult an attorney before executing this General Release.

You further represent
that you have not filed against the Companies or any of the other Releasees any
complaints, charges or lawsuits with any governmental agency or any court prior
to the date of this General Release.

You understand that you may revoke this General
Release in writing by so notifying the General Counsel of MQ Associates,
Inc., in writing, at MedQuest, Inc., 3480 Preston Ridge Road, Alpharetta, GA
30005 (fax: (678) 992-7538) within
seven (7) days of executing this
General Release.  You understand that if
you revoke this General Release you will not be entitled to any benefits as set
forth in Section 6.d of your Employment Agreement.

	
  Read, Accepted and Agreed
  to:

  
	
   

  
	
   

  	
   

  
	
  Bruce W. Elder

  	
   

  
	
   

  
	
  Dated:

  	
   

  	
   

  
				

 

 16

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