EXHIBIT 10.16
RIVERSIDE PARTNERS, INC.
INTERMEDIARY FEE AGREEMENT
This is an agreement between Xxxxxxxx Casting Corporation ("ACC") and Riverside
Partners, Inc. ("Riverside") concerning the possible acquisition by ACC of an
acquisition candidate ("Candidate") first introduced to ACC by Riverside.
1. If Riverside first introduces Candidate to ACC and if ACC consummates the
acquisition of Candidate within three years after it is introduced,
Riverside shall be entitled to compensation equal to 50% of the following:
5% of the first million dollars of consideration paid, 4% of the second
million, 3% of the third million, 2% of the fourth million, and 1% of the
balance. This compensation shall be due and payable at closing, provided
that if any portion of the consideration consists of an installment or
contingent payment, compensation on that portion shall be due and payable
at the time the consideration is actually paid. All fees hereunder will be
made payable to Riverside Partners, Inc. and/or its designee.
2. ACC agrees to keep confidential any information provided by Riverside
concerning Candidate including the fact that it is available for
acquisition.
3. Riverside shall not in any event be deemed an agent of ACC. Riverside
shall have no authority to represent ACC or act on its behalf.
4. This agreement shall continue until terminated in writing by either ACC or
Riverside, except that any Candidate introduced by Riverside to ACC before
the termination of this agreement shall remain covered by this agreement
for three years after it is introduced.
Agreed and accepted:
Xxxxxxxx Casting Corporation Riverside Partners, Inc.
by: /s/ Xxxx X. Xxxxx by: /s/ Xxxxx X. Xxxxxxx
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Title: CEO Title: Partner
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Date: 2/17/97 Date: 2/16/97
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XXX XXXXXX XXXXX, XXXXXX, XX 00000
(000) 000-0000 - FAX: (000) 000-0000
