May 5, 2010 To: Mr. Chris Eales President Premier Healthcare Professionals, Inc. (“PHP”) From: Bryan Crutchfield Dear Chris:
Exhibit 10.1
May 5, 2010
To: Xx. Xxxxx Xxxxx
President Premier Healthcare Professionals, Inc. (“PHP”)
From: Xxxxx Xxxxxxxxxxx
Dear Xxxxx:
I am excited about MCGI moving forward with PHP in a form of strategic alliance to pursue growth and opportunities for both companies. This agreement shall set forth the terms and conditions pursuant to which MedCAREERS Group, Inc. (“MCGI”) and PHP form a strategic alliance. As you will see, we need to avoid conflicts of interest issues for both of us and I believe we can achieve that to our mutual best interests.
1. Acquisition Targets: PHP directs all acquisition targets it identifies to MCGI. PHP assists MCGI in preparing a letter of intent to purchase the target. In certain cases PHP will prepare the LOI so long as it is assignable to MCGI. MCGI and PHP perform the due diligence together at MCGI’s cost. Provided MCGI approves the deal based upon due diligence and terms, upon closing of the transaction, PHP will manage the target for MCGI’s benefit. MCGI will pay PHP (or its nominee) an agreed to fee for management services which fee may be payable in MCGI stock.
6. The parties agree to keep this letter of intent confidential. If disclosure is required, MCGI may issue a press release. From this date forward, because of the nature of this letter of intent, you agree to abide by all securities laws and not trade in the stock of MCGI or facilitate trading in MCGI stock except as permitted by securities laws.
7. Upon execution of this letter of intent, we will begin drafting definitive agreements to consummate the transactions described herein.
8. The persons signing this letter of intent represent to the other party that they have full power and authority to execute this letter of intent on behalf of their respective entity.
9. This Agreement shall be governed by Georgia law with proper venue for all disputes to be Xxxxxx County. This Agreement is also intended to be a framework of the general terms of the referenced management agreement. In all cases, the parties agree to act in good faith..
10. Either party may evidence execution of this Agreement by email confirmation, pdf, or fax.
Accepted and agreed to by:
Premier Healthcare Professionals, Inc.
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/s/ Xxxxxx Xxxxx
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By: /s/ Xxxxxx Xxxxx Xxxxxxxxxxx
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Xxxxx Xxxxx
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Chief Executive Officer
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