XXX ISLE ASSOCIATES
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11 Xxxxxxxx Drive, Xxxxxx Xxxxxx, XX 00000 o (000)000-0000 o Fax:(000)000-0000
July 30, 1997
Xx. Xxxxx Xxxxx
Chief Executive Officer
New York Health Care, Inc.
0000 XxXxxxxx Xxxxxx
Xxxxxxxx, XX 00000
Dear Xx. Xxxxx:
Thank you for the opportunity to learn more about your plans for New York
Health Care. My broad experience in the healthcare industry and specific
knowledge in the home healthcare segment could be very valuable to your
organization. I think you and Xxxxx and your Board of Directors will find that I
am easy to work with and responsive to your needs. In order to formalize our
relationship, you asked that I prepare a proposal on how to best utilize my
skills and knowledge in helping New York Health Care achieve its objectives.
In the case of acquisitions, should I introduce a candidate company or a
revenue producing product line to New York Health Care and the transaction
closes, I will be entitled to a fee based upon the formula listed below.
TRANSACTION FEE SCHEDULE
Payment due upon closing:
5% of the first $5 million of the purchase price.
4% of the next $1 million increment of the purchase price.
3% of the next $1 million increment of the purchase price.
2% of the next $1 million increment of the purchase price.
1% of the remaining purchase price.
Should you have any questions or wish to discuss this proposal, please call me
at your earliest convenience. I look forward to our next meeting.
Best regards,
X. Xxxx Xxxxxx
