<PAGE>
Exhibit 10.23
August 9, 1999
Mr. Gary Gilheeney
4 Caraway Drive
Johnston, RI 02919
Dear Gary:
We are very pleased to extend an offer of employment to you for the position of
Chief Financial Officer and Treasurer of Innovative Clinical Solutions. The
terms are as follows:
Base Salary: $175,000
Sign-On Bonus $10,000
Bonus Potential: 25% bonus potential (based on both company division
and personal performance metrics).
Equity: a. An initial grant of 100,000 shares at market
price.
b. Options will be vested over a three year period
in equal increments. If there is a material change
in ownership of the company, all outstanding
options will vest with change of control.
Benefits: Innovative Clinical Solutions policies
Severance: A. One year of base compensation and payment of
COBRA premiums for termination by the company
without cause.
or
B. One year base compensation and payment of COBRA
premiums as a result of a material change in
responsibilities, reporting relationships or
location.
These terms are contingent upon the successful completion of referencing.
We are very excited about the prospect of working with you and look forward to
you joining our team on August 23, 1999. Please sign and return this letter as
your acceptance of these terms.
Best Regards,
Michael Heffernan
I acknowledge and agree to the terms stated above.
Gary Gillheeney
