AGREEMENT
Exhibit
10.89
AGREEMENT
THIS
AGREEMENT
(“Agreement”)
dated
November __, 2008 is among Xxxxxxx Xxxxxx (“Xxxxxx”)
and
National Investment Managers Inc., a Florida corporation (“NIM”).
WHEREAS,
in
October 2008, Xxxxxx, the Chairman of the Board of Directors of NIM, has
requested that his annual fee payable to Xxxxxx for his services to be performed
in 2009 in the amount of $54,000 (the “2009 Fee”) be prepaid;
WHEREAS,
NIM has determined that the prepayment of the 2009 Fee does not violate Section
402 of the Sarbanes Oxley Act as the prepayment is not considered a personal
loan requiring the repayment of such funds.
WHEREAS,
NIM, in light of the fact that Xxxxxx has provided an exemplary level of service
to NIM, paid the 2009 Fee in October 2008;
NOW,
THEREFORE, in consideration of the premises and the mutual covenants, conditions
and promises contained herein, the parties agree as follows:
| 1. |
The
prepayment of the 2009 Fee to Xxxxxx by NIM is hereby authorized.
|
| 2. |
In
the event that Xxxxxx were to be terminated, resign or retire, or for
any
reason whatsoever, including a change of control in which Xxxxxx is
terminated, Xxxxxx will not be required to repay the 2009 Fee.
|
| 3. |
This
Agreement may be executed (including by facsimile transmission) with
counterpart signature pages or in two or more counterparts, each of
which
shall be deemed an original but all of which together shall constitute
one
and the same instrument.
|
IN
WITNESS WHEREOF, the parties have executed this Agreement as of the date set
forth in the first paragraph above.
| National Investment Managers Inc. | ||||
|
/s/
Xxxxxxx Xxxxxx
|
By:
|
/s/
Xxxxxx Xxxx
|
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|
Name:
|
Xxxxxx
Xxxx
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|||
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Title:
|
Chief
Executive Officer and Director
|
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