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<B><FONT size=5 face="serif">UNITED STATES</FONT></B></P>
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<B><FONT size=5 face="serif">SECURITIES AND EXCHANGE COMMISSION</FONT></B></P>
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<B><FONT size=2 face="serif">Washington, D.C. 20549</FONT></B></P>
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<B><FONT size=5 face="serif">FORM 8-K</FONT></B><BR>
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<B><FONT face="serif">CURRENT REPORT</FONT></B><BR>
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<B><FONT face="serif">PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</FONT></B></P>
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<B><FONT size=2 face="serif">April 23, 2007 (April 19, 2007)</FONT></B><BR>
<B><FONT size=1 face="serif">Date of Report (Date of earliest event reported)</FONT></B><BR>
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<B><FONT size=5 face="serif">QUOVADX, INC.</FONT></B><BR>
<B><FONT size=1 face="serif">(Exact Name of Registrant as Specified in Charter)</FONT></B><BR>
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<B><FONT size=2 face="serif">Delaware</FONT></B>&nbsp;
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<B><FONT size=2 face="serif">000-29273</FONT></B>&nbsp;
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<B><FONT size=2 face="serif">85-0373486</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">(State or Other Jurisdiction of</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">(Commission File Number)</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">(IRS Employer</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">Incorporation)</FONT></B>&nbsp;
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<B><FONT size=1 face="serif">Identification Number)</FONT></B>&nbsp;
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<B><FONT size=2 face="serif">7600 E. Orchard Road, Suite 300S</FONT></B><BR>
<B><FONT size=2 face="serif">Greenwood Village, CO 80111 </FONT></B><BR>
<B><FONT size=1 face="serif">(Address of principal executive offices)</FONT></B><BR>
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<B><FONT size=2 face="serif">(303) 488-2019</FONT></B><BR>
<B><FONT size=1 face="serif">(Registrant&#146;s Telephone number, including area code)</FONT></B><BR>
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<B><FONT size=1 face="serif">(Former name or former address, if changed since last report)</FONT></B><BR>
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<FONT size=2 face="serif">[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
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<FONT size=2 face="serif">[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

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<B><FONT size=2 face="serif">Item 1.01 Entry into a Material Definitive Agreement.</FONT></B><BR>
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<FONT size=2 face="serif">On April 19, 2007, the Compensation Committee (the &#147;Committee&#148;) of the Board of Directors of Quovadx, Inc., a Delaware corporation (the &#147;Company&#148; or &#147;Registrant&#148;) approved the Quovadx Executive
Management 2007 Annual Bonus Incentive Plan for the six month period from January 1 to June 30, 2007 (the &#147;Bonus Plan&#148;). The Bonus Plan represents 50% of an annual cash bonus plan in which eligible participants (which include, among
others, the CEO and the four other named executive officers) may be awarded cash bonuses based on the achievement of goals relating to the overall financial performance of the Company relative to specific revenue and net income/loss from continuing
operations targets for the six months coinciding with the Bonus Plan period under the Quovadx 2007 operating plan adopted by the Quovadx board of directors, and will be paid based 100% on total company financial performance. The target bonus is
determined as a percentage of the base salary of each participant, ranging from 30% to 50% as set forth in the employment agreement of each individual. Under the Bonus Plan, no bonus will be payable unless the net income/loss from continuing
operations objective of the 2007 operating plan is met; maximum payment in the event of overachievement of the 2007 operating plan is 100% of the target bonus amount. The summary of material terms of the Bonus Plan set forth above is qualified in
its entirety by reference to the Bonus Plan, which is attached as Exhibit 10.1.</FONT></P>
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<B><FONT size=2 face="serif">Item 9.01 Financial Statements and Exhibits.</FONT></B><BR>
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<FONT size=2 face="serif">(c) Exhibits.</FONT><BR>
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<B><U><FONT size=2 face="serif">Exhibit</FONT></U></B>&nbsp;
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<B><U><FONT size=2 face="serif">Number</FONT></U></B>&nbsp;
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 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B><U><FONT size=2 face="serif">Exhibit</FONT></U></B>&nbsp;
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<FONT size=2 face="serif">10.1</FONT>&nbsp;
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<FONT size=2 face="serif">Quovadx, Inc. Executive Management 2007 Annual Bonus Incentive Plan</FONT>&nbsp;
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<B><FONT size=2 face="serif">SIGNATURE</FONT></B><BR>
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<FONT size=2 face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P>
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<B><FONT size=2 face="serif">QUOVADX, INC.</FONT></B><BR>
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<FONT size=2 face="serif">Date: April 23, 2007</FONT><BR>
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<FONT size=2 face="serif">/</FONT><FONT size=1 face="serif">S</FONT><FONT size=2 face="serif">/ L</FONT><FONT size=1 face="serif">INDA </FONT><FONT size=2 face="serif">K. W</FONT><FONT size=1 face="serif">ACKWITZ</FONT><BR>
<BR>
<FONT size=2 face="serif">Linda K. Wackwitz</FONT><BR>
<FONT size=2 face="serif">Secretary</FONT><BR>
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 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B><FONT size=2 face="serif">EXHIBIT INDEX</FONT></B>&nbsp;
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<B><U><FONT size=2 face="serif">Exhibit</FONT></U></B>&nbsp;
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<B><U><FONT size=2 face="serif">Number</FONT></U></B>&nbsp;
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 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B><U><FONT size=2 face="serif">Exhibit</FONT></U></B>&nbsp;
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<FONT size=2 face="serif">10.1</FONT>&nbsp;
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<FONT size=2 face="serif">Quovadx, Inc. Executive Management 2007 Annual Bonus Incentive Plan</FONT>&nbsp;
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DC1227.pdf -- Converted by SEC Publisher 4.2, created by BCL Technologies Inc., for SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
April 23, 2007 (April 19, 2007)
Date of Report (Date of earliest event reported)
QUOVADX, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware
000-29273
85-0373486
(State or Other Jurisdiction of
(Commission File Number)
(IRS Employer
Incorporation)
Identification Number)
7600 E. Orchard Road, Suite 300S
Greenwood Village, CO 80111
(Address of principal executive offices)
(303) 488-2019
(Registrant's Telephone number, including area code)
(Former name or former address, if changed since last report)
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
On April 19, 2007, the Compensation Committee (the "Committee") of the Board of Directors of Quovadx, Inc., a Delaware corporation (the "Company" or "Registrant") approved the Quovadx Executive
Management 2007 Annual Bonus Incentive Plan for the six month period from January 1 to June 30, 2007 (the "Bonus Plan"). The Bonus Plan represents 50% of an annual cash bonus plan in which eligible participants (which include, among
others, the CEO and the four other named executive officers) may be awarded cash bonuses based on the achievement of goals relating to the overall financial performance of the Company relative to specific revenue and net income/loss from continuing
operations targets for the six months coinciding with the Bonus Plan period under the Quovadx 2007 operating plan adopted by the Quovadx board of directors, and will be paid based 100% on total company financial performance. The target bonus is
determined as a percentage of the base salary of each participant, ranging from 30% to 50% as set forth in the employment agreement of each individual. Under the Bonus Plan, no bonus will be payable unless the net income/loss from continuing
operations objective of the 2007 operating plan is met; maximum payment in the event of overachievement of the 2007 operating plan is 100% of the target bonus amount. The summary of material terms of the Bonus Plan set forth above is qualified in
its entirety by reference to the Bonus Plan, which is attached as Exhibit 10.1.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
Exhibit
Number
Exhibit
10.1
Quovadx, Inc. Executive Management 2007 Annual Bonus Incentive Plan
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
QUOVADX, INC.
Date: April 23, 2007
/
S
/ L
INDA
K. W
ACKWITZ
Linda K. Wackwitz
Secretary
EXHIBIT INDEX
Exhibit
Number
Exhibit
10.1
Quovadx, Inc. Executive Management 2007 Annual Bonus Incentive Plan