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EXHIBIT 99.7
November 1, 1999
Xx. Xxxxxxx Xxxxxxx
Covalent Partners, LLC
0000 Xxxx Xxxxx Xx.
Xx Xxxxx, XX 00000
Dear Xx. Xxxxxxx:
The purpose of this letter is to confirm my agreement (i) to remain employed as
the President, Chief Operating Officer and Chief Medical Officer of Covalent
Group, Inc. ("Covalent") from the date hereof through the purchase of all of the
Company Stock under the Option Agreement, dated November 1, 1999, between
Covalent Partners, LLC and Xxxxx XxXxxx on or before the Final Expiration Date
(the "Closing Date") and (ii) to execute the form of Employment Agreement
attached hereto as Exhibit A on or before the Closing Date. In consideration of
my agreement to remain employed by Covalent during this time and enter into the
Employment Agreement, Covalent Group, LLC has agreed that it will grant an
option to acquire 460,000 shares of Covalent Common Stock to me, concurrently
with the Closing Date, having an exercise price equal to the actual purchase
price paid by Covalent Partners, LLC for such shares. All defined terms used
herein shall have the meaning as set forth in the Option Agreement.
Sincerely,
/s/ Xxxxxxx X. Xxxxx
Xxxxxxx X. Xxxxx, M.D.
ACCEPTED AND AGREED
COVALENT PARTNERS, LLC
By: /s/ Xxxxxxx X. Xxxxxxx
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Title: Managing Member
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EXHIBIT A
FORM OF EMPLOYMENT AGREEMENT
2.
