INVESTMENT BANKING FEE SATISFACTION AGREEMENT

Exhibit 10.28

INVESTMENT BANKING FEE SATISFACTION AGREEMENT

AGREEMENT dated as of April 4, 2003, between eTrials Worldwide, Inc., a Delaware corporation (“ETRIALS”) formerly eTrials, Inc., and the undersigned, Nazem Inc. (“FINANCIAL CONSULTANT”).

WHEREAS, FINANCIAL CONSULTANT has performed certain services for ETRIALS; and

WHEREAS, ETRIALS and FINANCIAL CONSULTANT agree that ETRAILS will compensate FINANCIAL CONSULTANT as provided on the signature page of this Agreement in full satisfaction of all obligations of ETRAILS to FINANCIAL CONSULTANT.

NOW, THEREFORE, it is hereby agreed:

(1) ETRIALS shall compensate and issue to FINANCIAL CONSULTANT the money and securities listed on the signature page of this Agreement for all services and expenses FINANCIAL CONSULTANT has provided to ETRIALS related to the Araccel merger.

(2) The issuance of such compensation and securities shall constitute satisfaction in full for all services and expenses provided by FINANCIAL CONSULTANT to ETRIALS and any and all obligations of ETRIALS to FINANCIAL CONSULTANT related to the Araccel merger.

(3) Except for the compensation and securities listed on the signature page, FINANCIAL CONSULTANT has no claim for fees or expenses for work performed through the date of this Agreement or any other obligation of ETRIALS related to the Araccel merger.