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                                                                    Exhibit 10.6

                          MANAGEMENT SERVICES AGREEMENT

     This MANAGEMENT SERVICES AGREEMENT ("AGREEMENT") is entered into as of May
21, 2003, between One Equity Partners LLC, a Delaware limited liability company
("OEP"), and MedVest Holdings Corporation, an Ohio corporation ("MEDVEST" or the
"COMPANY").

                                   BACKGROUND

     WHEREAS, the Company, together with its direct and indirect subsidiaries
(collectively, the "MEDVEST ENTITIES"), desires to receive general financial and
management advisory services from OEP, and thereby obtain the benefit of the
experience of OEP in business and financial management generally and its
knowledge of the MedVest Entities and their financial affairs in particular. OEP
is willing to provide general financial and management advisory services to the
MedVest Entities. Accordingly, the compensation arrangements set forth in this
Agreement are designed to compensate OEP for such services.

     NOW, THEREFORE, in consideration of the foregoing premises and the
respective agreements hereinafter set forth and the mutual benefits to be
derived herefrom, OEP and the Company hereby agree as follows:

                                      TERMS

     1.   ENGAGEMENT. The Company hereby engages OEP as a general financial and
management advisor, and OEP hereby agrees to provide general financial and
management advisory services to the MedVest Entities, all on the terms and
subject to the conditions set forth below:

     2.   SERVICES OF OEP.

          (a)    OEP hereby agrees during the term of this engagement to consult
with the Company's board of directors (the "BOARD") and management of the
MedVest Entities in such manner and on such general business and financial
matters as may be reasonably requested from time to time by the Board and agreed
to by OEP, including but not limited to:

          (i)    corporate strategy;

          (ii)   budgeting of future corporate investments; and

          (iii)  acquisition and divestiture strategies.

The parties hereto agree that the services to be provided hereunder shall
include only general financial and management advisory services. In the event
the Company requests extraordinary services (e.g., obtaining debt or equity
financing or coordinating or negotiating the consummation of acquisitions or
divestitures), additional fees may be charged pursuant to arrangements to be
mutually agreed upon by the parties. Notwithstanding the foregoing, the parties
hereto agree that no additional fees shall be charged by, or payable to, OEP
under this Agreement for services performed in connection with a Sale of the
Company (as defined in the

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Company's Stockholders Agreement dated as of May 21, 2003), except for such fees
as may separately be agreed to between the parties hereto.

          (b)    The services provided pursuant to this Agreement are advisory
only, and the MedVest Entities are free to accept or reject the advice rendered
by officers or employees of OEP or its affiliates.

     3.   COMPENSATION. On the date hereof, the Company shall pay, or cause to
be paid, to OEP a fee in an amount equal to $3.0 million. In addition, within 30
days of the Initial Advisory Fee Payment Date (as defined below) and thereafter,
within 30 days of each anniversary of the Initial Advisory Fee Payment Date, the
Company shall pay, or cause to be paid, to OEP a fee in an amount equal to $2.4
million ("ADVISORY FEES"). The Advisory Fees shall be paid as compensation for
services to be rendered by OEP to the MedVest Entities DURING THE YEAR FOLLOWING
SUCH INITIAL ADVISORY FEE Payment Date or anniversary thereof, as the case may
be. For purposes of this Agreement, "Initial Advisory Fee Payment Date" shall be
the date the Company shall have generated Consolidated EBITDA in excess of $76.0
million measured as of the most recent trailing twelve month period and
calculated in accordance with the definition of "Consolidated EBITDA" in that
certain Credit Agreement by and among Medex, the Company, the Subsidiaries of
Medex party thereto, the financial institutions party thereto, Wachovia Bank,
National Association, as administrative agent, as amended, restated or otherwise
modified); PROVIDED, HOWEVER, in no event will any Advisory Fees be paid prior
to December 15, 2003. The parties hereby agree that the Advisory Fees to be paid
on each anniversary of the Initial Advisory Fee Payment Date shall be payable
regardless of whether or not as of such date the Company has continued to
generate Consolidated EBITDA in excess of $76.0 million.

     4.   EXPENSE REIMBURSEMENT. The Company shall reimburse OEP for such
reasonable travel expenses and other reasonable out-of-pocket fees and expenses
as may be incurred by OEP, its directors, officers and employees in connection
with the rendering of services hereunder. Such expenses shall be in addition to
any Advisory Fees payable pursuant to paragraph 3 above.

     5.   TERM. This Agreement shall be in effect for an initial term commencing
on the date hereof and terminating on the seventh anniversary of the date
hereof; PROVIDED, HOWEVER, that this Agreement (i) may be terminated 30 days
after the date of the delivery by OEP to the Company of a notice of termination
for any reason, including any material breach of this Agreement by the Company
or (ii) shall terminate in the event of a Sale of the Company (as defined in
Section 9 of that certain Stockholders Agreement by and among the Company, OEP,
the Investors party thereto and certain other Persons that become a party
thereto from time to time, as amended, restated or modified from time to time).
No termination of this Agreement, whether pursuant to this paragraph or
otherwise, shall affect the Company's obligations with respect to the fees,
costs and expenses incurred by OEP in rendering services hereunder and not
reimbursed by the Company as of the effective date of such termination.

     6.   INDEMNIFICATION. The Company agrees to indemnify and hold harmless
OEP, its directors, officers and employees and affiliates against and from any
and all loss, liability, suits, claims, costs, damages and expenses (including
attorneys' fees) arising from their performance hereunder, except to the extent
such losses, liabilities, suits, claims, costs, damages and expenses

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are determined by a court of competent jurisdiction to result primarily from
OEP's gross negligence or intentional wrongdoing. The Company will reimburse OEP
for all such fees and expenses, including the fees and expenses of counsel, as
they are incurred by OEP in connection with pending or threatened litigation,
whether or not OEP is a party thereto. The foregoing agreement will be in
addition to any rights that OEP may have at common law or otherwise, including,
but not limited to, any right to contribution. The Company also agrees that OEP
will have no liability to the Company in connection with the services rendered
hereunder (whether in tort, contract or otherwise) for claims, liabilities,
damages, losses or expenses, including fees and expenses of counsel, incurred by
the Company unless, and to the extent, they are determined by judgment of a
court of competent jurisdiction to result primarily from OEP's gross negligence
or intentional wrongdoing.

     If indemnification is to be sought hereunder by OEP, then OEP shall notify
the Company of the commencement of any action or proceeding in respect thereof;
provided, however, that the failure to so notify the Company shall not relieve
the Company from any liability that it may otherwise have to OEP, except to the
extent the Company shall have been materially prejudiced by such failure.
Following such notification, the Company may elect in writing to assume the
defense of such action or proceeding, and upon such election, it will not be
liable for any legal costs subsequently incurred by OEP (other than reasonable
costs of investigation) in connection therewith, unless (i) the Company has
failed to provide counsel reasonably satisfactory to OEP in a timely manner or
(ii) counsel that has been provided by the Company reasonably determines that
its representation of OEP would present it with a conflict of interest. In any
litigation or proceeding, the Company will not be responsible for the fees and
expenses of more than one counsel (together with local counsel) for OEP in any
one jurisdiction, unless OEP has a separate and conflicting defense with regard
to such litigation or proceedings, as reasonably determined by the counsel that
has been provided by the Company. The Company will not be liable for any
settlement of any litigation or proceeding effected without its prior written
consent, which consent will not be unreasonably withheld or delayed. Should the
Company assume the defense of any action, the Company will not, without OEP's
prior written consent, settle, compromise, consent to the entry of any judgment
in or otherwise seek to terminate such action if such settlement, compromise,
consent or termination imposes obligations on OEP (through injunctive relief or
otherwise) other than the payment of money for which OEP would be indemnified
for hereunder or which does not unconditionally release OEP from liability.

     7.   OEP AN INDEPENDENT CONTRACTOR. OEP and the Company agree that OEP
shall perform services hereunder as an independent contractor, retaining control
over and responsibility for its own operations and personnel. Neither OEP nor
its directors, officers or employees shall be considered employees or agents of
the MedVest Entities as a result of this Agreement nor shall any of them have
authority under this Agreement to contract in the name of or bind the MedVest
Entities, except as expressly agreed to in writing by the MedVest Entities.

     8.   NOTICES. Any notice, report or payment required or permitted to be
given or made under this Agreement by one party to the other shall be deemed to
have been duly given or made if personally delivered or, if mailed, when mailed
by registered or certified mail, postage prepaid, to the other party at the
following addresses (or at such other address as shall be given in writing by
one party to the other):

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     IF TO OEP:

     One Equity Partners LLC
     55 West Monroe Street
     Mail Suite IL-0610
     Chicago, IL 60670-0610
     Attention:   Timothy A. Dugan
                  Kip Kirkpatrick

     IF TO COMPANY:

     MedVest Holdings Corporation.
     6250 Shier-Rings Road
     Dublin, OH 43016-1295
     Attention:   Dominick Arena
                  Charles Jamison

     9.   ENTIRE AGREEMENT. This Agreement (a) contains the complete and entire
understanding and agreement of OEP and the Company with respect to the subject
matter hereof and (b) supersedes all prior and contemporaneous understandings,
conditions and agreements, oral or written, express or implied, respecting the
engagement of OEP in connection with the subject matter hereof.

     10.  AMENDMENT. This Agreement may be amended only with the written consent
of both OEP and the Company.

     11.  WAIVER OF BREACH. The waiver by either party of a breach of any
provision of this Agreement by the other party shall not operate or be construed
as a waiver of any subsequent breach of that provision or any other provision
hereof.

     12.  ASSIGNMENT. Neither OEP nor the Company may assign its rights or
obligations under this Agreement without the express written consent of the
other.

     13.  CHOICE OF LAW. This Agreement shall be governed by and construed in
accordance with the domestic laws of the State of Illinois, without giving
effect to any choice of law or conflict of law provision or rule (whether of the
State of Illinois or any other jurisdiction) that would cause the application of
the laws of any jurisdictions other that the State of Illinois.

     14.  DELIVERY BY FACSIMILE. This Agreement, the agreements referenced to
herein, and each other agreement or instrument entered into in connection
herewith or therewith or contemplated hereby or thereby, and any amendments
hereto or thereto, to the extent signed and delivered by means of a facsimile
machine, shall be treated in all manner and respects as an original agreement or
instrument and shall be considered to have the same binding legal effect as if
it were the original signed version thereof delivered in person. At the request
of any party hereto or to any such agreement or instrument, each other party
hereto or thereto shall reexecute original forms thereof and deliver them to all
other parties. No party hereto or to any such agreement or instrument shall
raise the use of a facsimile machine to deliver a signature or the

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fact that any signature or agreement or instrument was transmitted or
communicated through the use of a facsimile machine as a defense to the
formation or enforceability of a contract and each such party forever waives any
such defense.

                                    * * * * *

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     IN WITNESS WHEREOF, the undersigned have caused this Agreement to be duly
executed and delivered as of the date first written above.

                                        MEDVEST HOLDINGS CORPORATION

                                        By: /s/ Dominick A. Arena
                                           -------------------------------------
                                        Name: Dominick A. Arena
                                        Its: President and CEO

                                        ONE EQUITY PARTNERS LLC

                                        By: /s/ Timothy A. Dugan
                                           -------------------------------------
                                        Name: Timothy A. Dugan
                                        Its: Partner

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                                                                    Exhibit 10.7

                                   MEDEX, INC.

                       SEVERANCE AND NON-COMPETE AGREEMENT

      This SEVERANCE AND NON-COMPETE AGREEMENT (this "AGREEMENT") is made as of
May 21, 2003, by and between Medex, Inc., an Ohio corporation (the "COMPANY"),
and Dominick A. Arena (the "EXECUTIVE").

                                    RECITALS

      WHEREAS, the Company desires to continue the employment the Executive, and
the Executive desires to remain employed by the Company, in accordance with
terms and conditions set forth herein;

      WHEREAS, during the course of such employment, the Executive will
participate in the development of, and will be privy to, proprietary and
confidential information of MedVest Holdings Corporation ("MEDVEST"), the
Company and its Subsidiaries (collectively, the "MEDVEST ENTITIES" and,
individually, an "MEDVEST ENTITY"), including without limitation, trade secrets,
customer lists, strategic business plans, pricing and billing practices,
relationships with vendors and know-how involved in the operation of the
Company's and its Subsidiaries' businesses (collectively, the "CONFIDENTIAL
INFORMATION");

      WHEREAS, to obtain the services of the Executive and to protect the
Confidential Information and goodwill of the MedVest Entities, the parties
desire to execute and deliver this Agreement; and

      WHEREAS, the Executive will derive substantial benefits from this
Agreement.

      NOW, THEREFORE, in consideration of the mutual covenants contained herein
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto, intending to be legally bound,
hereby agree as follows:

      1.    EMPLOYMENT AND DUTIES.

            (a)   The Company hereby employs the Executive as the President and
Chief Executive Officer of the Company and the Executive hereby accepts and
agrees to serve the Company in the capacities described in SECTION 1(b), and (if
and to the extent so requested by the Company's Board of Directors (the
"BOARD")) in such other capacities to which the Executive may be appointed
consistent with SECTION 3, in accordance with the terms and conditions
hereinafter set forth.

            (b)   The Executive shall initially have the duties,
responsibilities and authority customary to an employee serving as the President
and Chief Executive Officer of the Company. The Executive shall report to and
take direction from the Board.

            (c)   Excluding reasonable vacations compatible with the Executive's
position and periods of illness, injury or other disability, the Executive shall
give his best efforts and

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devote substantially all of his business time and attention to the business and
interests of the MedVest Entities. The Executive shall devote his business time,
abilities and attention to these activities and shall perform his duties in a
professional, ethical and businesslike manner.

            (d)   For purposes of the Agreement, (i) "SUBSIDIARIES" shall mean,
with respect to any Person, any corporation or other entity of which the equity
securities or other ownership interests having the voting power to elect a
majority of the board of directors or other governing body are, at the time of
determination, owned by such Person, directly or through one or more
Subsidiaries and (ii) "PERSON" shall mean a natural person, a partnership, a
corporation, a limited liability company, an association, a joint stock company,
a trust, a joint venture, an unincorporated organization or other entity, or a
governmental entity or any department, agency or political subdivision thereof.

      2.    TERM OF EMPLOYMENT. The term of the Executive's employment under
this Agreement shall be at will and nothing in this Agreement shall provide
Executive with any contractual right to continued employment.

      3.    COMPENSATION  AND  BENEFITS.  Initially,  the Company  shall pay to
the Executive, and the Executive shall accept from the Company, as full
compensation for the Executive's services hereunder, compensation as follows:

            (a)   BASE SALARY. The Executive shall be paid a base annual salary
equal to $350,000.00 which shall be paid in accordance with the payroll
practices of the Company as in effect from time to time (the "BASE SALARY").

            (b)   ANNUAL BONUS. The Executive shall be entitled to receive an
annual year-end performance bonus determined in accordance with the procedures
and terms of the Company's performance bonus system in place immediately prior
to the date hereof (the "PERFORMANCE BONUS"). The Performance Bonus shall be
paid in accordance with the standard practices of the Company regarding such
payments as in effect from time to time.

            (c)   OTHER BENEFITS. The Executive shall be entitled to the regular
benefits and perquisites in place for executives of the Company immediately
prior to the date hereof, except to the extent that a benefit may be reduced in
the future for all applicable executives of the Company with the prior approval
of the Chief Executive Officer.

            (d)   REIMBURSEMENT OF BUSINESS EXPENSES. The Company shall
reimburse the Executive for all reasonable expenses necessarily incurred by him
in connection with the performance of the Executive's duties hereunder upon
presentation of a voucher indicating the amount and business purpose and
supported by appropriate documentation, subject, however, to the Company's
written employee reimbursement policies and procedures relating to business
related expenses, if any, as in effect from time to time.

      4.    NON-COMPETE, NON-SOLICITATION.

            (a)   NON-COMPETE. The Executive covenants and agrees that for such
period as he shall be employed by the Company and, in the event this Agreement
is terminated (other than by Executive pursuant to SECTION 5(g) due to a breach
of this Agreement by the Company),

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whether voluntarily or involuntarily, for a period of thirty-six (36) months
after such termination (the "NONCOMPETE PERIOD"), the Executive will not,
without the prior written consent of the Board, either directly or indirectly
through another Person, whether as principal or as agent, officer, director,
employee, consultant, stockholder, investor (other than as a passive owner of
not more than five percent (5%) of any class of securities traded on a national
or regional stock exchange) or otherwise, alone or in association with any other
Person, carry on, manage, control, consult with, render services for, or be
engaged, concerned or take part in, or render like services to, or own any
interest or share in earnings of any Person competing with the businesses of the
MedVest Entities, as such businesses exist or are in process on the date of such
termination, within any geographical area in which the MedVest Entities engage
at the time of termination in such businesses.

            NON-SOLICITATION. During the Noncompete Period, the Executive shall
not directly or indirectly through another Person (i) induce or attempt to
induce any employee of any MedVest Entity to leave the employ of such MedVest
Entity, or in any way interfere with the relationship between any MedVest Entity
and any employee thereof, (ii) hire any person who is an employee of any MedVest
Entity at the time of termination, or (iii) induce or attempt to induce any
customer, supplier, licensee, licensor, franchisee or other business relation of
any MedVest Entity to cease doing business with any such MedVest Entity, or in
any way interfere with the relationship between any such customer, supplier,
licensee or business relation and any MedVest Entity (including, without
limitation, making any statement which is intended or reasonably calculated to
disparage or discredit any MedVest Entity).

            ENFORCEMENT. If, at the time of enforcement of this SECTION 4, a
court shall hold that the duration, scope or area restrictions stated herein are
unreasonable under circumstances then existing, the parties agree that the
maximum duration, scope or area reasonable under such circumstances shall be
substituted for the stated duration, scope or area and that the court shall be
allowed to revise the restrictions contained herein to cover the maximum period,
scope and area permitted by law. The Executive acknowledges that the
restrictions contained in this SECTION 4 are reasonable and that he has reviewed
the provisions of this Agreement with his legal counsel.

            REMEDIES AND EQUITABLE RELIEF. In the event of the breach or a
threatened breach by the Executive of any of the provisions of this SECTION 4,
the Company, in addition and supplementary to other rights and remedies existing
in its favor, shall be entitled to specific performance and/or injunctive or
other equitable relief from a court of competent jurisdiction in order to
enforce or prevent any violations of the provisions hereof (without posting a
bond or other security). In addition, in the event of a breach or violation by
the Executive of this SECTION 4, the Noncompete Period shall be tolled until
such breach or violation has been duly cured.

      5.    TERMINATION. Employment of the Executive may terminate for any of
the following reasons.

            (a)   MUTUAL AGREEMENT. By the mutual, written agreement of the
Company and the Executive.

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            (b)   DEATH OR DISABILITY. Automatically upon the death or
disability of the Executive. The Executive will be deemed to be "disabled" if
the Board determines in good faith that the Executive is unable to substantially
perform with reasonable accommodation the duties hereunder by reason of
disability or incapacity due to physical or mental illness, for a period in
excess of one hundred eighty (180) consecutive days in any twelve (12) month
period or one hundred eighty (180) days in the aggregate in any twenty-four (24)
month period. The Executive's employment may be terminated by the Company
pursuant to this paragraph only if the Executive does not return to work within
and for a continuous period of at least thirty (30) days after a notice of
termination has been provided to the Executive by the Company.

            (c)   CAUSE. By the Company at any time for "cause". For purposes of
this Agreement, "CAUSE" shall mean the occurrence of one or more of the
following events in each case as determined by a two-thirds vote of the
disinterested members of the Board in good faith:

                  (i) the commission of a felony or the commission of any act
            or omission involving dishonesty, disloyalty or fraud with respect
            to and damaging any of the MedVest Entities;

                  (ii) chronic drug or alcohol abuse or other repeated conduct
            causing any of the MedVest Entities substantial public disgrace or
            disrepute or economic harm; or

                  (iii) the continued failure by the Executive substantially to
            perform his duties hereunder (other than as a result of total or
            partial disability or incapacity due to physical or mental illness)
            after a written demand for substantial performance is delivered to
            the Executive by the Company, which demand identifies the manner in
            which the Company believes that the Executive has not substantially
            performed his duties.

            (d)   BY EXECUTIVE. By the Executive upon thirty (30) days'
written notice to the Company.

            (e)   RETIREMENT. Automatically upon the Executive's retirement.

            (f)   WITHOUT CAUSE. By the Company at any time without cause.

            (g)   FOR GOOD REASON. By the Executive for Good Reason. For
purposes of this Agreement, "GOOD REASON" shall mean (A) a material adverse
change in connection with the Executive's title or job duties or responsibility;
(B) a material breach by the Company of any material obligation under this
Agreement that is not curable or that is not cured within thirty (30) days after
written notice thereof by the Executive to the Company; (C) relocation from the
present metropolitan area of employment, without the Executive's consent, of the
Executive; or (D) the termination of employment by the Executive at any time
during the forty-five (45) day period after the first anniversary of the
consummation of a transaction or a series of related transactions involving (a)
the sale of eighty percent (80%) or more of the assets (based on their fair
market value) of the Company, (b) any sale to a person not affiliated with a
then current stockholder of voting stock representing more than fifty percent
(50%) of the votes eligible to be cast by stockholders of the Company in the
election of members of the Board of Directors or

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(c) any consolidation, merger or recapitalization of the Company with the same
effect as clause (b) or (c).

      6.    COMPENSATION UPON TERMINATION.

            (a)   TERMINATION BY MUTUAL AGREEMENT. In the event that the
Agreement is terminated by the parties pursuant to a written agreement in
accordance with SECTION 5(a), the Executive shall be entitled to receive the
compensation specified in any written agreement between the parties regarding
the termination of Executive's employment.

            (b)   TERMINATION BY EXPIRATION OF AGREEMENT; ON ACCOUNT OF DEATH;
DISABILITY; FOR CAUSE; OR BY THE EXECUTIVE. In the event the Agreement is
terminated pursuant to SECTIONS 5(b), 5(c), 5(d) or 5(e) the Executive shall not
be entitled to any compensation for any period after termination except for the
continuation of medical coverage as required by law; PROVIDED, HOWEVER, that the
Executive shall be entitled to any Base Salary and any other vested compensation
earned or accrued but not paid to the Executive prior to the termination of this
Agreement; PROVIDED, FURTHER, that in the event the Agreement is terminated
pursuant to SECTION 5(b), the Executive also shall be entitled to the
Executive's Performance Bonus pro-rated for the then current year.

            (c)   TERMINATION BY THE COMPANY WITHOUT CAUSE OR BY THE EXECUTIVE
FOR GOOD REASON. In the event the Executive's employment is terminated pursuant
to SECTION 5(f) OR 5(g), the Executive shall be entitled to (i) two times base
annual compensation then in effect, (ii) a pro rata portion of Executive's
Performance Bonus for the then current year, calculated at one hundred (100%)
per cent of target, for the period prior to termination, (iii) two times the
Executive's target bonus for the then current year, calculated at one hundred
(100%) per cent of target, and (iv) the continuation of medical insurance
coverage for the Executive and his family, at the Company's expense, for two (2)
years (or, if not permitted, an amount equal to the amount necessary for the
Executive to secure such coverage in the market generally). The payments
required under this SECTION 3(c) shall be payable in twenty-four (24) equal
monthly installments commencing on the last day of the month in which the
Executive shall execute and deliver a release of claims against the Company
containing standard employment release terms reasonably acceptable to the
Company and Executive and shall continue until the earlier of (A) full payment
and (B) a material breach by Executive of any covenant contained in this
Agreement. The obligation of Executive to provide a release under this Section
shall be conditioned upon the willingness of the Company to provide Executive
with a release containing standard employment release terms reasonably
acceptable to Executive.

      7.    RETENTION BONUS AND NON-COMPETE FEE. The Company shall make an
aggregate cash payment to the Executive of $2,255,000.00. The foregoing cash
payment shall be made as follows (i) in consideration for remaining in the
employment of the Company and entering into this Agreement, $1,262,250.00 on the
date hereof, $519,750.00 payable on January 1, 2004 and $247,500.00 payable on
January 1, 2005, and (ii) in consideration of the covenants of the Executive set
forth in SECTION 4 above, the Company shall pay $140,250.00 on the date hereof,
$57,750.00 payable on January 1, 2004 and $27,500.00 payable on January 1, 2005.
The payments due the Executive under this SECTION 7 shall be paid (less
applicable withholdings) by wire transfer of immediately available funds to an
account designated by the Executive.

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      8.    CONFIDENTIAL INFORMATION. The Executive acknowledges that all
Confidential Information is the property of the MedVest Entities. Therefore, the
Executive agrees that he shall not disclose to any unauthorized Person or use
for his own purposes any Confidential Information without the prior written
consent of the Board, unless and to the extent that the Confidential Information
becomes generally known to and available for use by the public other than as a
result of the Executive's acts or omissions or as requested or required by law
or court order (provided that the Executive shall notify the Company promptly of
such request or requirement so that the Company may seek an appropriate
protective order). The Executive shall deliver to the Company at the termination
of his employment hereunder, or at any other time the Company may request, all
memoranda, notes, plans, records, reports, computer tapes, printouts and
software and other documents and data (and copies thereof) embodying or relating
to the Confidential Information, Work Product (as defined below) or the business
of the MedVest Entities which he may then possess or have under his control.

      9.    INVENTIONS AND PATENTS. The Executive acknowledges that all
inventions, innovations, improvements, developments, methods, designs, analyses,
drawings, reports and all similar or related information (whether or not
patentable) which relate to the MedVest Entities' actual business, research and
development or existing or future products or services and which are conceived,
developed or made by the Executive while employed by the Company ("WORK
PRODUCT") belong to the MedVest Entities. The Executive shall promptly disclose
such Work Product to the Board and, at the Company's expense, perform all
actions reasonably requested by the Board (whether during or after the Term) to
establish and confirm such ownership (including, without limitation,
assignments, consents, powers of attorney and other instruments).

      10.   SUCCESSORS AND ASSIGNS. This Agreement shall inure to the benefit
and be binding upon the parties hereto and their respective legal
representatives, heirs, or successors and permitted assigns; PROVIDED, HOWEVER,
that the Executive may not sell, assign, pledge, hypothecate, or otherwise
transfer this Agreement or any part hereof without the prior written consent of
the Company. The Company will require any successor (whether direct or indirect,
by purchase, merger, consolidation or otherwise) to all or substantially all of
the business and/or the assets of the Company to assume expressly and to agree
to perform this Agreement in the same manner and to the same extent that the
Company would be required to perform it if no such succession had taken place.

      11.   INDEMNIFICATION. To the fullest extent permitted by law, the Company
agrees to, and shall provide in its code of regulations all necessary provisions
so as to cause the Company to, indemnify and hold the Executive harmless against
and from any and all loss, cost, liability or expense that may be imposed upon
or reasonably incurred by him in connection with or resulting from any claim,
action, suit or proceeding to which he may be a party or in which he may be
involved by reason of any action taken or failure to act in his capacity as an
officer of the Company during this Agreement. The Company further agrees, at all
times while the Executive remains employed by the Company, to provide reasonable
and adequate coverage for the benefit of the Executive under the Company's D&O
policy provided coverage under such D&O insurance is commercially available and
can be obtained at reasonable cost. The foregoing right of indemnification shall
not be exclusive of any other right to which the Executive may be entitled to as
a matter of law or otherwise, or any power that the Company may have to
indemnify him or hold him harmless, but shall be subject to any applicable
restrictions imposed

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by the code of regulations of the Company from time to time and any applicable
law and shall not apply in respect of any loss, cost, liability or expense that
is found, in a final judgment by a court of competent jurisdiction from which no
appeal can be or has been taken, to have resulted principally from the
Executive's bad faith, gross negligence or willful misconduct.

      12.   GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
AND INTERPRETED UNDER THE LAWS OF THE STATE OF OHIO WITHOUT REGARD TO ITS
CONFLICT OF LAWS PROVISIONS.

      13.   INTERPRETATION. This Agreement is the result of negotiations between
the parties and accordingly, shall not be construed for or against either party
regardless of which party drafted this Agreement or any portion thereof.

      14.   NOTICES. All notices required or permitted to be given pursuant to
this Agreement shall be in writing and shall be deemed to have been delivered
upon the earlier of personal delivery, or upon first attempted delivery by the
United Postal Service or the overnight carrier if sent by certified mail, return
receipt requested, postage prepaid or by recognized overnight carrier addressed:
(i) in the case of the Company, at its principal office and (ii) in the case of
the Executive, at the last known residence as shown on the Company's records.

      15.   WAIVER. A delay or failure by either party to require strict
performance by the other party of any undertakings or agreements contained in
this Agreement will not waive, affect or diminish any right of such party
thereafter to demand strict compliance and performance therewith. Any waiver by
either party of any default by the other party under this Agreement will not
waive or affect any other such default, whether such default is prior or
subsequent thereto and whether of the same or a different type.

      16.   SEVERABILITY. In the event that any provision of this Agreement
shall be held by a court of competent jurisdiction to be invalid, illegal or
unenforceable, it shall not affect any other provision hereof, and this
Agreement shall be construed as if such invalid, illegal or unenforceable
provision had never been contained herein, unless to do so would cause this
Agreement to fail of its essential purpose.

      17.   ENTIRE AGREEMENT. This Agreement constitutes the entire
understanding and agreement between the Company and the Executive with respect
to the terms and conditions of the Executive's employment during the Term and
supersedes all previous agreements and arrangements (if any), oral or written,
relating to the employment of the Executive by the Company (which shall be
deemed to have been terminated by mutual consent). There are no other
agreements, conditions, or representations, oral or written, express or implied
with regard thereto.

      18.   AMENDMENT OF AGREEMENT. This Agreement may be modified, amended or
rescinded only by means of a writing duly executed by the Company and the
Executive.

      19.   SURVIVORSHIP. The respective rights and obligations of the parties
hereunder will survive any termination of this Agreement to the extent necessary
to the intended preservation of such rights and obligations.

                                      - 7 -
<Page>

      20.   COUNTERPARTS. This Agreement may be executed simultaneously in
counterparts, each of which shall be deemed an original but which taken together
shall constitute a single agreement between the parties.

      21.   HEADINGS. The Section headings herein are inserted for convenience
of reference only, do not constitute a part of this Agreement, and shall not be
deemed to limit or affect the meaning or interpretation of any of the provisions
herein.

      22.   SUCCESSOR-IN-INTEREST. The Executive may designate a Successor (or
Successors) in Interest to receive any and all amounts due the Executive in
accordance with this Agreement should the Executive be deceased at any time of
payment. Such designation of Successor(s) in Interest shall be made in writing
and signed by the Executive. Any such designation may be made to any legal
person, persons, trust or the Executive's estate as he shall determine in his
sole discretion. In the event any designation shall be incomplete, or in the
event the Executive shall fail to designate a Successor-in-Interest, his estate
shall be deemed to be his Successor-in-Interest to receive such portion or all
of the payments due hereunder. The Executive may amend, change or revoke any
such designation at any time and from time to time, in the same manner.

                            [signature page follows]

                                      - 8 -
<Page>

      IN WITNESS WHEREOF, the parties have duly executed this Severance and
Non-Compete Agreement as of the date first above written.

                                        MEDEX, INC.

                                        By: /s/ Charles J. Jamison
                                           --------------------------------
                                        Name: Charles J Jamison
                                        Title: Vice President and General
                                               Counsel

                                         /s/ Dominick A. Arena
                                        -----------------------------------
                                        Dominick A. Arena

                                      - 9 -

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