EXHIBIT 10.1
MEMORANDUM AGREEMENT
This Memorandum Agreement shall confirm our mutual agreement regarding the
termination of the Management and Billing Services Agreement (the "Agreement")
between PracticeXpert of Oklahoma dba CCN ("PracticeXpert") and Xxxxx Xxxxxx, MD
("Physician") and the provisions of winding down our business together resulting
from the Agreement.
According to Paragraph 13.1 of the Agreement, "The term (Term) of this
Agreement shall commence on the effective date, as defined in Section 16.20, and
shall expire on the date the initial term of the lease identified in Section
16.20 expires, unless terminated sooner in accordance with this Agreement or
except as otherwise agreed by the parties hereto."
WHEREAS, we have mutually agreed that the "Effective Termination Date"
shall be January 16, 2006.
It is therefore agreed PracticeXpert shall continue to pursue collection of
all xxxxxxxx for medical services rendered by Physician prior to the Effective
Termination Date and shall be entitled to 75% of all collections of said
xxxxxxxx for all dollars collected up to and including March 3, 2006.
It is further agreed that PracticeXpert shall be paid a fee equal to 7% of
all dollars collected on or after March 4, 2006 for any medical services
rendered by Physician on or prior to the Effective Termination Date until all
receivables for services rendered on or prior to the Effective Termination Date
are collected, or until mutually agreed between the parties.
/s/ Xxxxxxxx Doctor 02/13/06 /s/ Xxxxx Xxxxxx 02/03/06
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Xxxxxxxx Doctor Date Xxxxx Xxxxxx, MD Date
PracticeXpert Medical Oncologist
