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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES</strong></font></div>
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      AND EXCHANGE COMMISSION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>WASHINGTON,
      D.C. 20549</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
        <div><br>FORM 8-K</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div><br>
          <hr style="COLOR: #000000" align="center" noshade size="1" width="50%">
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
        REPORT</strong></font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>PURSUANT
      TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF
      1934</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
      Report (Date of earliest event reported): </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>October
      27, 2005</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman">NOVAMED,
      INC.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
      name of registrant as specified in its charter)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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            </td>
            <td valign="top" width="33%" style="BORDER-BOTTOM: #000000 thin solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">0-26625</font></div>
            </td>
            <td valign="top" width="33%" style="BORDER-BOTTOM: #000000 thin solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;36-4116193</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="33%" style="BORDER-BOTTOM: medium none">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
                or other jurisdiction of</font></div>
            </td>
            <td valign="top" width="33%" style="BORDER-BOTTOM: medium none">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission
                File</font></div>
            </td>
            <td valign="top" width="33%" style="BORDER-BOTTOM: medium none">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(I.R.S.
                Employer</font></div>
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          </tr>
          <tr>
            <td valign="top" width="33%" style="BORDER-BOTTOM: medium none">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">incorporation
                or organization)</font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Number)</font></div>
            </td>
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                No.)</font></div>
            </td>
          </tr>

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            <td valign="top" width="50%" style="BORDER-BOTTOM: black thin solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">980
                North Michigan Avenue, Suite 1620, Chicago,
                Illinois&#160;&#160;&#160;&#160; </font></div>
            </td>
            <td valign="top" width="50%" style="BORDER-BOTTOM: black thin solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">60611</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="50%" style="BORDER-BOTTOM: medium none">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
                of Principal Executive Offices)</font></div>
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            </td>
            <td valign="top" width="50%" style="BORDER-BOTTOM: medium none">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Zip
                Code)</font></div>
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            </td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant&#8217;s
      telephone number, including area code: (312) 664-4100.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOT
      APPLICABLE</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
      name or former address, if changed since last report)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
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            <td align="left" style="WIDTH: 18pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
              ]</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
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            <td align="left" style="WIDTH: 18pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
              ]</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
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          <tr valign="top" style="LINE-HEIGHT: 1.25">
            <td align="left" style="WIDTH: 18pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
              ]</font></td>
            <td align="left">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))</font></div>
            </td>
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      </table>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          <tr valign="top" style="LINE-HEIGHT: 1.25">
            <td align="left" style="WIDTH: 18pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
              ]</font></td>
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              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
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        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
      1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Descriptions
      of the material terms of (i) Mr. Thomas S. Hall&#8217;s employment agreement,
      restricted stock award agreement and stock option agreement and (ii) the
      NovaMed, Inc. 2005 Restricted Stock Plan are set forth in Item 5.02 below and
      are incorporated herein by this reference.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
      5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
      APPOINTMENT OF PRINCIPAL OFFICERS.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      October 27, 2005, NovaMed, Inc. (the &#8220;Company&#8221;) announced that its board of
      directors named Mr. Hall as President and Chief Executive Officer, effective
      as
      of November 14, 2005 (the &#8220;Effective Date&#8221;). The Company also announced that Mr.
      Hall will join the Company&#8217;s board of directors on the Effective Date. A copy of
      the press release announcing the employment of Mr. Hall and certain other
      matters referred to herein is filed as Exhibit&#160;99.1 to this Form 8-K
      and
      incorporated herein by reference.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
      Hall,
      age 45, previously served as President and Chief Operating Officer of Matria
      Healthcare, Inc. (Nasdaq: MATR) since April 2003, after having joined Matria
      in
      October 2002 as Executive Vice President and Chief Operating Officer. Matria
      provides comprehensive disease management programs to health plans and
      employers. From 2000 to 2002, Mr Hall was President and Cheif Executive Officer
      of TSH &amp; Associates, an independent consulting and management services
      company. Prior to that, Mr. Hall was President of ADP TotalSource, a division
      of
      Automated Data Processing, Inc. Mr. Hall also served in senior management
      positions with Riscorp, Inc., an insurance holding company, and USAir
      Express/Chautauqua Airlines. Mr. Hall earned a BA in business from Goshen
      College and a MBA from Clarkson University.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      connection with the appointment by the Company of Mr. Hall as its President
      and
      Chief Executive Officer, NovaMed Management Services, LLC, a wholly-owned
      subsidiary of the Company, and Mr. Hall entered into an Employment Agreement
      (the &#8220;Employment Agreement&#8221;), dated as of October 27, 2005 and effective as of
      the Effective Date, regarding the terms of Mr. Hall&#8217;s employment. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Employment Agreement provides that Mr. Hall will receive an annual base salary
      of $500,000 and is eligible to receive an annual discretionary bonus based
      on
      performance targets established by the compensation committee pursuant to the
      Company&#8217;s executive incentive compensation plan. Mr. Hall&#8217;s initial target bonus
      for the 2006 calendar year shall be 50% of his annual base salary. Mr. Hall
      will
      also be awarded a one-time bonus of $142,500 within one (1) week of the
      Effective Date, which represents one-half of the bonus earned, but not received,
      by Mr. Hall while employed by his former employer during 2005.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Employment Agreement has a term of four (4) years, with the agreement
      automatically renewable for successive one year terms unless either party gives
      written notice not less than sixty (60) days prior to expiration that it/he
      does
      not wish to renew. If the Company gives such notice, Mr. Hall shall be entitled
      to severance benefits upon termination of employment on the same basis as
      provided for a termination without &#8220;Cause&#8221; (as defined below). If Mr. Hall gives
      such notice, the Company shall have no further obligations under the Employment
      Agreement with respect to Mr. Hall&#8217;s employment from and after the expiration of
      the employment term. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company may terminate the Employment Agreement with or without Cause or upon
      Mr.
      Hall&#8217;s disability. If the Company terminates Mr. Hall for disability or Cause,
      Mr. Hall is not entitled to receive any salary or other severance after the
      date
      of termination. The Company may terminate Mr. Hall for &#8220;Cause&#8221; under the
      Employment Agreement if he: </font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)
      materially breaches any term or condition of the Employment Agreement and fails
      to cure such breach within a reasonable time; (ii) fails to comply with any
      of
      the Company&#8217;s written guidelines that it has furnished to Mr. Hall and fails to
      cure such failure within a reasonable time; (iii) materially fails or willfully
      refuses to substantially perform his duties and fails to cure such failure
      or
      refusal within a reasonable time; or (iv) has committed an act constituting
      a
      felony or other act involving dishonesty, disloyalty or fraud against the
      Company, as reasonably determined by the Company's board of
      directors.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      the
      Company terminates Mr. Hall without Cause (including a termination resulting
      from the Company&#8217;s election not to renew the Employment Agreement), Mr. Hall
      receives severance compensation in a fixed amount equal to his then-current
      annual base salary for a period of twelve (12) months and a pro rata cash bonus
      payment, plus health benefits for such period. If Mr. Hall&#8217;s employment is
      terminated following a change in control of the Company by Mr. Hall for good
      reason or by the Company without Cause (including a termination resulting from
      the Company&#8217;s election not to renew the Employment Agreement), Mr. Hall would
      receive an amount equal to two (2) times the sum of (i) his annual base salary
      and (ii) the Target Bonus (equal to the amount of bonus that would have been
      payable to Mr. Hall based on him attaining 100% of the applicable target measure
      or, if greater, 50% of his annual base salary) plus health benefits for
      twenty-four (24) months. If Mr. Hall, for any reason or no reason, terminates
      his employment within the thirty (30) day period following the one-year
      anniversary of a change in control, Mr. Hall would receive an amount equal
      to
      the sum of (i) his annual base salary and (ii) the Target Bonus, plus health
      benefits for twelve (12) months.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Employment Agreement also provides for Mr. Hall&#8217;s right to participate in the
      Company&#8217;s employee benefit programs. These programs include hospitalization,
      disability, life and health insurance. The Employment Agreement imposes on
      Mr.
      Hall non-competition restrictions that survive termination of employment and
      post-termination confidentiality obligations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      connection with his appointment, Mr. Hall is entitled to participate in the
      Company&#8217;s 2005 Stock Incentive Plan (the &#8220;Stock Incentive Plan&#8221;). On October 27,
      2005, the Company and Mr. Hall entered into a stock option agreement pursuant
      to
      which Mr. Hall will be granted, as of the Effective Date, options to purchase
      250,000 shares of common stock of the Company (&#8220;Common Stock&#8221;). Such stock
      options will be granted under the Stock Incentive Plan on terms and conditions
      substantially similar to those contained in the form of stock option agreement
      previously filed by the Company with the Securities and Exchange Commission
      (&#8220;SEC&#8221;).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      October 27, 2005, the Company's board of directors adopted the NovaMed, Inc.
      2005 Restricted Stock Plan (the &#8220;Restricted Stock Plan&#8221;). The terms and
      conditions of the Restricted Stock Plan are similar to the Stock Incentive
      Plan,
      but under which Thomas S. Hall is the only participant and pursuant to which
      only an award of 250,000 restricted shares of Common Stock may be made. A copy
      of the Restricted Stock Plan was included in the registration statement on
      Form
      S-8 filed by the Company with the SEC on October 27, 2005.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      October 27, 2005, the compensation committee of the Company&#8217;s board of directors
      approved the grant to Mr. Hall of 250,000 restricted shares of Common Stock,
      as
      of the Effective Date, under the Restricted Stock Plan and pursuant to a
      Restricted Stock Award Agreement (the &#8220;Restricted Stock Agreement&#8221;). The grant
      of restricted shares in recruiting Mr. Hall is made in reliance on Section
      4350(i)(1)(A)(iv) of the Nasdaq Marketplace Rules. Unless Mr. Hall&#8217;s employment
      with the Company is terminated (at which time no further restricted shares
      will
      vest), (i) one-eighth (1/8th) of the restricted shares will vest on the date
      six
      (6) months after the Effective Date and (ii) an additional one-forty-eight
      (1/48th) of the restricted shares will vest on the last day of each month
      thereafter. However, all of the restricted shares will vest immediately upon
      a
      change in control of the Company if Mr. Hall is employed by the Company or
      its
      subsidiaries at the time of such change in control. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      addition, on the first anniversary of the Effective Date, Mr. Hall will be
      granted options to purchase 125,000 shares of Common Stock. During 2007,
      contemporaneous with the determination of stock awards for the Company&#8217;s other
      senior management, Mr. Hall shall be granted options to purchase shares of
      Common Stock up to an amount not to exceed 250,000. The amount of this 2007
      grant will be based on the Company&#8217;s performance in 2006 relative to the
      performance criteria jointly established by the compensation committee and
      Mr.
      Hall, subject to the final review and approval of the board of directors. The
      grant of the awards specified in this paragraph shall be contingent on Mr.
      Hall
      being employed by the Company or its subsidiaries as of the respective grant
      dates.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      foregoing descriptions of the Employment Agreement, the Restricted Stock Plan
      and the Restricted Stock Agreement are qualified in their entirety by reference
      to the Employment Agreement, the Restricted Stock Plan and the Restricted Stock
      Agreement filed as Exhibits 10.41, 10.42 and 10.43 hereto, which are hereby
      incorporated by reference herein.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company also announced that its board of directors has appointed Robert J.
      Kelly
      to serve as its non-executive Chairman. Mr. Kelly has served as Presiding
      Director of the Company since March 29, 2005. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
      8.01. OTHER EVENTS.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
      copy of
      the press release announcing the employment of Mr. Hall and certain other
      matters referred to in Item 5.02 above is filed as Exhibit&#160;99.1 to this
      Form 8-K and incorporated herein by reference. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
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      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
      9.01. FINANCIAL STATEMENTS AND EXHIBITS</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="LINE-HEIGHT: 1.25">
            <td align="left" style="WIDTH: 54pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;(c)</font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibits.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="15%" style="BORDER-BOTTOM: medium none">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>No.</u></font></div>
            </td>
            <td align="justify" valign="top" width="85%" style="BORDER-BOTTOM: medium none">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Description</u></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.41</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement, dated as of October 27, 2005, by and between NovaMed Management
                Services LLC and Thomas S. Hall.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.42</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NovaMed,
                Inc. 2005 Restricted Stock Plan (incorporated by reference to Exhibit
                4.2
                to NovaMed Inc.&#8217;s Registration Statement on Form S-8 filed October 27,
                2005 (Registration Statement No. 333-129250)).</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.43</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Restricted
                Stock Award Agreement, dated as of October 27, 2005, between NovaMed,
                Inc.
                and Thomas S. Hall.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                Release of NovaMed, Inc., dated October 27,
                2005.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr valign="top" bgcolor="#ffffff">
            <td width="50%">
              <div>&#160;</div>
            </td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NOVAMED,
              INC.</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dated:&#160;November
              2, 2005</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/&#160;Scott
              T. Macomber</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="FONT-FAMILY: Times New Roman" size="1">&#160;</font></td>
            <td align="left">
              <hr style="COLOR: #000000" align="left" noshade size="2" width="80%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Scott
              T. Macomber</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Executive&#160;Vice
              President and Chief Financial
              Officer&#160;</font></td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 216pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>INDEX
        TO EXHIBITS</strong></font></div>
    </div>
    <div>&#160;</div>
    <div align="left">
      <table border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="15%" style="BORDER-BOTTOM: medium none">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>No.</u></font></div>
            </td>
            <td align="justify" valign="top" width="85%" style="BORDER-BOTTOM: medium none">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Description</u></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.41</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement, dated as of October 27, 2005, by and between NovaMed Management
                Services LLC and Thomas S. Hall.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.42</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NovaMed,
                Inc. 2005 Restricted Stock Plan (incorporated by reference to Exhibit
                4.2
                to NovaMed Inc.&#8217;s Registration Statement on Form S-8 filed October 27,
                2005 (Registration Statement No. 333-129250)).</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.43</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Restricted
                Stock Award Agreement, dated as of October 27, 2005, between NovaMed,
                Inc.
                and Thomas S. Hall.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
            </td>
            <td align="justify" valign="top" width="85%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                Release of NovaMed, Inc., dated October 27,
                2005.</font></div>
            </td>
          </tr>

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{"company-data": {"conformed-name": "NOVAMED INC", "cik": "0001086939", "assigned-sic": "8741", "irs-number": "364116193", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-26625", "film-number": "051173434"}, "business-address": {"street1": "980 N MICHIGAN AVENUE", "street2": "SUITE 1620", "city": "CHICAGO", "state": "IL", "zip": "60611", "phone": "3126644100"}, "mail-address": {"street1": "980 N MICHIGAN AVENUE", "street2": "SUITE 1620", "city": "CHICAGO", "state": "IL", "zip": "60611"}, "former-company": {"former-conformed-name": "NOVAMED EYECARE INC", "date-changed": "19990521"}}
Unassociated Document
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
Date
      of
      Report (Date of earliest event reported):
October
      27, 2005
NOVAMED,
      INC.
(Exact
      name of registrant as specified in its charter)
DELAWARE
0-26625
36-4116193
(State
                or other jurisdiction of
(Commission
                File
(I.R.S.
                Employer
incorporation
                or organization)
Number)
Identification
                No.)
980
                North Michigan Avenue, Suite 1620, Chicago,
                Illinois
60611
(Address
                of Principal Executive Offices)
(Zip
                Code)
Registrant's
      telephone number, including area code: (312) 664-4100.
NOT
      APPLICABLE
(Former
      name or former address, if changed since last report)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:
[
              ]
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.
Descriptions
      of the material terms of (i) Mr. Thomas S. Hall's employment agreement,
      restricted stock award agreement and stock option agreement and (ii) the
      NovaMed, Inc. 2005 Restricted Stock Plan are set forth in Item 5.02 below and
      are incorporated herein by this reference.
ITEM
      5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
      APPOINTMENT OF PRINCIPAL OFFICERS.
On
      October 27, 2005, NovaMed, Inc. (the "Company") announced that its board of
      directors named Mr. Hall as President and Chief Executive Officer, effective
      as
      of November 14, 2005 (the "Effective Date"). The Company also announced that Mr.
      Hall will join the Company's board of directors on the Effective Date. A copy of
      the press release announcing the employment of Mr. Hall and certain other
      matters referred to herein is filed as Exhibit 99.1 to this Form 8-K
      and
      incorporated herein by reference.
Mr.
      Hall,
      age 45, previously served as President and Chief Operating Officer of Matria
      Healthcare, Inc. (Nasdaq: MATR) since April 2003, after having joined Matria
      in
      October 2002 as Executive Vice President and Chief Operating Officer. Matria
      provides comprehensive disease management programs to health plans and
      employers. From 2000 to 2002, Mr Hall was President and Cheif Executive Officer
      of TSH & Associates, an independent consulting and management services
      company. Prior to that, Mr. Hall was President of ADP TotalSource, a division
      of
      Automated Data Processing, Inc. Mr. Hall also served in senior management
      positions with Riscorp, Inc., an insurance holding company, and USAir
      Express/Chautauqua Airlines. Mr. Hall earned a BA in business from Goshen
      College and a MBA from Clarkson University.
In
      connection with the appointment by the Company of Mr. Hall as its President
      and
      Chief Executive Officer, NovaMed Management Services, LLC, a wholly-owned
      subsidiary of the Company, and Mr. Hall entered into an Employment Agreement
      (the "Employment Agreement"), dated as of October 27, 2005 and effective as of
      the Effective Date, regarding the terms of Mr. Hall's employment.
The
      Employment Agreement provides that Mr. Hall will receive an annual base salary
      of $500,000 and is eligible to receive an annual discretionary bonus based
      on
      performance targets established by the compensation committee pursuant to the
      Company's executive incentive compensation plan. Mr. Hall's initial target bonus
      for the 2006 calendar year shall be 50% of his annual base salary. Mr. Hall
      will
      also be awarded a one-time bonus of $142,500 within one (1) week of the
      Effective Date, which represents one-half of the bonus earned, but not received,
      by Mr. Hall while employed by his former employer during 2005.
The
      Employment Agreement has a term of four (4) years, with the agreement
      automatically renewable for successive one year terms unless either party gives
      written notice not less than sixty (60) days prior to expiration that it/he
      does
      not wish to renew. If the Company gives such notice, Mr. Hall shall be entitled
      to severance benefits upon termination of employment on the same basis as
      provided for a termination without "Cause" (as defined below). If Mr. Hall gives
      such notice, the Company shall have no further obligations under the Employment
      Agreement with respect to Mr. Hall's employment from and after the expiration of
      the employment term.
The
      Company may terminate the Employment Agreement with or without Cause or upon
      Mr.
      Hall's disability. If the Company terminates Mr. Hall for disability or Cause,
      Mr. Hall is not entitled to receive any salary or other severance after the
      date
      of termination. The Company may terminate Mr. Hall for "Cause" under the
      Employment Agreement if he:
(i)
      materially breaches any term or condition of the Employment Agreement and fails
      to cure such breach within a reasonable time; (ii) fails to comply with any
      of
      the Company's written guidelines that it has furnished to Mr. Hall and fails to
      cure such failure within a reasonable time; (iii) materially fails or willfully
      refuses to substantially perform his duties and fails to cure such failure
      or
      refusal within a reasonable time; or (iv) has committed an act constituting
      a
      felony or other act involving dishonesty, disloyalty or fraud against the
      Company, as reasonably determined by the Company's board of
      directors.
If
      the
      Company terminates Mr. Hall without Cause (including a termination resulting
      from the Company's election not to renew the Employment Agreement), Mr. Hall
      receives severance compensation in a fixed amount equal to his then-current
      annual base salary for a period of twelve (12) months and a pro rata cash bonus
      payment, plus health benefits for such period. If Mr. Hall's employment is
      terminated following a change in control of the Company by Mr. Hall for good
      reason or by the Company without Cause (including a termination resulting from
      the Company's election not to renew the Employment Agreement), Mr. Hall would
      receive an amount equal to two (2) times the sum of (i) his annual base salary
      and (ii) the Target Bonus (equal to the amount of bonus that would have been
      payable to Mr. Hall based on him attaining 100% of the applicable target measure
      or, if greater, 50% of his annual base salary) plus health benefits for
      twenty-four (24) months. If Mr. Hall, for any reason or no reason, terminates
      his employment within the thirty (30) day period following the one-year
      anniversary of a change in control, Mr. Hall would receive an amount equal
      to
      the sum of (i) his annual base salary and (ii) the Target Bonus, plus health
      benefits for twelve (12) months.
The
      Employment Agreement also provides for Mr. Hall's right to participate in the
      Company's employee benefit programs. These programs include hospitalization,
      disability, life and health insurance. The Employment Agreement imposes on
      Mr.
      Hall non-competition restrictions that survive termination of employment and
      post-termination confidentiality obligations.
In
      connection with his appointment, Mr. Hall is entitled to participate in the
      Company's 2005 Stock Incentive Plan (the "Stock Incentive Plan"). On October 27,
      2005, the Company and Mr. Hall entered into a stock option agreement pursuant
      to
      which Mr. Hall will be granted, as of the Effective Date, options to purchase
      250,000 shares of common stock of the Company ("Common Stock"). Such stock
      options will be granted under the Stock Incentive Plan on terms and conditions
      substantially similar to those contained in the form of stock option agreement
      previously filed by the Company with the Securities and Exchange Commission
      ("SEC").
On
      October 27, 2005, the Company's board of directors adopted the NovaMed, Inc.
      2005 Restricted Stock Plan (the "Restricted Stock Plan"). The terms and
      conditions of the Restricted Stock Plan are similar to the Stock Incentive
      Plan,
      but under which Thomas S. Hall is the only participant and pursuant to which
      only an award of 250,000 restricted shares of Common Stock may be made. A copy
      of the Restricted Stock Plan was included in the registration statement on
      Form
      S-8 filed by the Company with the SEC on October 27, 2005.
On
      October 27, 2005, the compensation committee of the Company's board of directors
      approved the grant to Mr. Hall of 250,000 restricted shares of Common Stock,
      as
      of the Effective Date, under the Restricted Stock Plan and pursuant to a
      Restricted Stock Award Agreement (the "Restricted Stock Agreement"). The grant
      of restricted shares in recruiting Mr. Hall is made in reliance on Section
      4350(i)(1)(A)(iv) of the Nasdaq Marketplace Rules. Unless Mr. Hall's employment
      with the Company is terminated (at which time no further restricted shares
      will
      vest), (i) one-eighth (1/8th) of the restricted shares will vest on the date
      six
      (6) months after the Effective Date and (ii) an additional one-forty-eight
      (1/48th) of the restricted shares will vest on the last day of each month
      thereafter. However, all of the restricted shares will vest immediately upon
      a
      change in control of the Company if Mr. Hall is employed by the Company or
      its
      subsidiaries at the time of such change in control.
In
      addition, on the first anniversary of the Effective Date, Mr. Hall will be
      granted options to purchase 125,000 shares of Common Stock. During 2007,
      contemporaneous with the determination of stock awards for the Company's other
      senior management, Mr. Hall shall be granted options to purchase shares of
      Common Stock up to an amount not to exceed 250,000. The amount of this 2007
      grant will be based on the Company's performance in 2006 relative to the
      performance criteria jointly established by the compensation committee and
      Mr.
      Hall, subject to the final review and approval of the board of directors. The
      grant of the awards specified in this paragraph shall be contingent on Mr.
      Hall
      being employed by the Company or its subsidiaries as of the respective grant
      dates.
The
      foregoing descriptions of the Employment Agreement, the Restricted Stock Plan
      and the Restricted Stock Agreement are qualified in their entirety by reference
      to the Employment Agreement, the Restricted Stock Plan and the Restricted Stock
      Agreement filed as Exhibits 10.41, 10.42 and 10.43 hereto, which are hereby
      incorporated by reference herein.
The
      Company also announced that its board of directors has appointed Robert J.
      Kelly
      to serve as its non-executive Chairman. Mr. Kelly has served as Presiding
      Director of the Company since March 29, 2005.
ITEM
      8.01. OTHER EVENTS.
A
      copy of
      the press release announcing the employment of Mr. Hall and certain other
      matters referred to in Item 5.02 above is filed as Exhibit 99.1 to this
      Form 8-K and incorporated herein by reference.
ITEM
      9.01. FINANCIAL STATEMENTS AND EXHIBITS
(c)
Exhibits.
Exhibit
No.
Description
10.41
Employment
                Agreement, dated as of October 27, 2005, by and between NovaMed Management
                Services LLC and Thomas S. Hall.
10.42
NovaMed,
                Inc. 2005 Restricted Stock Plan (incorporated by reference to Exhibit
                4.2
                to NovaMed Inc.'s Registration Statement on Form S-8 filed October 27,
                2005 (Registration Statement No. 333-129250)).
10.43
Restricted
                Stock Award Agreement, dated as of October 27, 2005, between NovaMed,
                Inc.
                and Thomas S. Hall.
99.1
Press
                Release of NovaMed, Inc., dated October 27,
                2005.
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.
NOVAMED,
              INC.
Dated: November
              2, 2005
By:
/s/ Scott
              T. Macomber
Scott
              T. Macomber
Executive Vice
              President and Chief Financial
              Officer
INDEX
        TO EXHIBITS
Exhibit
No.
Description
10.41
Employment
                Agreement, dated as of October 27, 2005, by and between NovaMed Management
                Services LLC and Thomas S. Hall.
10.42
NovaMed,
                Inc. 2005 Restricted Stock Plan (incorporated by reference to Exhibit
                4.2
                to NovaMed Inc.'s Registration Statement on Form S-8 filed October 27,
                2005 (Registration Statement No. 333-129250)).
10.43
Restricted
                Stock Award Agreement, dated as of October 27, 2005, between NovaMed,
                Inc.
                and Thomas S. Hall.
99.1
Press
                Release of NovaMed, Inc., dated October 27,
                2005.