EXHIBIT 10.16
October 1, 1997
C. Xxxxxxx Xxxx, M.D.
Chairman
Personal Medical Records, Inc.
0000 Xxxxxxxxx Xxxx Xxxxx
Xxxxxxxx, XX 00000
Dear Xx. Xxxx,
This letter shall reduce to writing our various conversations regarding your
efforts as a consultant for Personal Medical Records, Inc. (PMRi). It is
understood by the parties to this agreement that this agreement is separate and
apart from the likeness agreement between you and PMRi.
This agreement, when fully executed, shall obligate PMRi and yourself, as
follows:
1. TERM OF AGREEMENT: The term of this consulting agreement shall be for three
years starting on October 1, 1997 effective through September 30, 2000.
2. SERVICES TO BE RENDERED BY DR. C. XXXXXXX XXXX (Xxxx):
x. Xxxx shall be a Director and assume the position of Chairman of the
Board of PMRi for the term of this agreement.
x. Xxxx shall help organize and manage PMRi's Medical Advisory Board.
c. From time to time, at the request of PMRi, Koop shall be asked to speak
at health, medical or computer conferences and at PMRi client's and
potential client's headquarters; in such cases, Koop shall have the
option to refuse any and all such requests.
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x. Xxxx shall have the right to review and approve content developed by
third parties for use by PMRi in their business development.
3. COMPENSATION:
a. For services rendered, Koop shall be paid a consulting fee as follows:
YEAR ONE:
October 1997 through September 1998 $100,000
Payable monthly as follows:
October 1997 - August 1998 $8333.33
September 1998 $8333.37
YEAR TWO:
October 1998 through September 1999 $135,000
Payable monthly as follows:
October 1998 - September 1999 $11,250.00
YEAR THREE:
October 1999 through September 2000 $150,000
Payable monthly as follows:
October 1999 - September 2000 $12,500.00
Monthly fees will be paid from this agreement; no invoices will be
sent by Koop to PMRi.
Payment will be made to C. Xxxxxxx Xxxx and mailed to:
Dr. C. Xxxxxxx Xxxx
0000 Xxxxxxxxx Xxxx Xxxxx
Xxxxxxxx, XX 00000
4. EXPENSES: Travel and lodging expenses shall be reimbursed monthly; Koop
shall provide receipts for all expenses when available; expenses shall be
submitted to PMRi and paid monthly to Koop.
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5. This agreement constitutes the entire agreement between the parties and
supersedes any and all previous consulting agreements written or oral.
6. This agreement shall be construed under the laws of the State of Texas.
Agreed to and Accepted By:
\s\ C. Xxxxxxx Xxxx Date October 1, 1997
-------------------------- ---------------
C. Xxxxxxx Xxxx
Agreed to and Accepted By:
\s\ Xxxxxx Xxxxxxx Date October 1, 1997
-------------------------- ---------------
Xxxxxx Xxxxxxx
President/CEO, PMRi
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