EXHIBIT 10.34
CONSULTING AGREEMENT
This Consulting Agreement, dated this 26th day of April, 1998, by and
between VITALINK PHARMACY SERVICES, INC., a Delaware corporation (hereinafter
referred to as the "Company") and XXXXXX X. XXXXXXX (hereinafter referred to as
the "Consultant").
WHEREAS, the Company desires to retain the Consultant to carry out the
services set forth in this Agreement, and the Consultant is willing to provide
such services;
NOW, THEREFORE, in consideration of the premises and of the covenants
herein contained, it is agreed as follows:
1. Engagement as Consultant. The Company engages the Consultant to render
consulting services to the Company for the period (the "Consulting Period")
beginning on the date of his or her termination of employment with the Company
(the "Effective Date") and ending on the day preceding the first anniversary of
the Effective Date; provided, however, that this Agreement shall be of no force
and effect if the date of the Consultant's termination of employment is after
April 30, 1999.
2. Consulting Services. During the Consulting Period, the Consultant will
perform the following services, as reasonably requested by the Chief Executive
Officer of the Company: advice and consultation relating to financial issues,
accounts receivable and payable, and banking issues. The Consultant shall not be
required to maintain any office hours. The parties anticipate that the
Consultant's performance of requested services hereunder will consume no more
than 1000 hours per year. The Company will provide office support services to
the Consultant at a site to be mutually agreeable to the Consultant and the
Company. The Consultant shall perform all such services personally.
3. Other Activities. The Consultant shall be free to accept employment
with any organization and to engage in any business enterprise on the
Consultant's own behalf during the Consulting Period, provided such employment
or other activities do not prevent the satisfactory performance of the
consulting services described in Section 2.
4. Compensation for Services. As compensation for the services to be
rendered by the Consultant hereunder, the Company shall pay to the Consultant
$11,250 per month, payable
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no later than the last day of the applicable month. If the Consultant's services
are involuntarily terminated for any reason (including death and disability),
all compensation for the remainder of the term of the Consulting Period shall be
due and payable in a lump sum in cash within 30 days after such termination.
5. Reimbursement for Expenses. The Company shall reimburse the Consultant
promptly for the Consultant's reasonable out-of-pocket expenses of performing
the consulting services described herein. The Consultant shall provide monthly a
particularized statement of any such expenses with customary documentation to
the Company's Chief Executive Officer, for reimbursement.
6. Disclosure and Use of Information. The Consultant recognizes and
acknowledges that the Company's and its affiliates' present and prospective
clients, contracts, development plans, operating data, policies and personnel,
as they may exist from time to time, are valuable, special and unique assets of
the Company's business. Throughout the Consulting Period and for a period of one
year after its termination or expiration for whatever cause or reason, the
Consultant shall not directly or indirectly, or cause others to, make use of or
disclose to others any information relating to the business of the Company that
has not otherwise been made public, including but not limited to the Company's
and its affiliates' present or prospective clients, contracts, development
plans, operating data and policies.
7. Notices. Any notice, request or demand given under this Agreement
shall be in writing, and shall be delivered personally to the recipient or sent
by certified, registered or overnight mail to his/her residence in the case of
the Consultant, or to its principal office in the case of the Company.
8. Waiver of Breach. The waiver of either party of a breach of any
provision of this Agreement shall not operate or be construed as a waiver of any
subsequent breach.
9. Assignment. The rights and obligations of the parties under this
Agreement shall inure to the benefit of and shall be binding upon their
respective successors and, in the case of the Company, assigns. The obligations
of the Consultant hereunder may not be assigned or delegated.
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10. Independent Contractor. The Consultant acknowledges that the
Consultant's engagement under this Agreement is as an independent contractor and
not as an employee of the Company. Accordingly, the Consultant shall be
responsible for the payment of all income, self-employment and other taxes on
amounts payable to the Consultant hereunder, and the Company shall not withhold
any federal, state or local income, payroll or other taxes from the payments
made under this Agreement. Nothing in this Agreement shall be construed to
authorize the Consultant to incur any debt, liability or obligation of any
nature for or on behalf of the Company.
11. Entire Agreement. This instrument contains the entire agreement of
the parties. It may be changed only by an agreement in writing signed by the
party against whom enforcement of any waiver, change, modification, extension,
or discharge is sought.
12. Governing Law. This Agreement shall be governed by and interpreted
under the laws of the State of Illinois without giving effect to the principles
thereof relating to conflict of laws.
IN WITNESS WHEREOF, the parties have executed this Agreement on the date
first set forth above.
Attest: VITALINK PHARMACY SERVICES,INC.
/s/ Xxxxxx X. Xxxxxx, III By: /s/ Xxxxx X. Xxxxxxxx
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Witness: CONSULTANT:
/s/ Xxxxxxx X. Xxxxxxxx /s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx
