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Exhibit 10.35
AGREEMENT-IN-PRINCIPLE
May 15,1997
Xx. Xxxxx Xxxxxxxx
Director of Marketing
LIBERTY HEALTH
0000 Xxxxxxx Xxxxxx Xxxx
Xxxxxxx, Xxxxxxx X0X 0X0
Dear Xx. Xxxxxxxx:
This letter shall serve as an agreement between the Tracker Corporation
("Tracker") and Liberty Health. The terms and conditions of this agreement are
as follows:
1) Liberty Health will launch the Tracker promotion on June 23, 1997.
2) Tracker will supply Liberty Health with 60,000 labels mounted on carrier
cards (buckslips) at a cost of $0.45 each and Liberty Health will ship one-label
carrier card with each travel health policy. Tracker will warehouse buckslips.
3) Tracker and Liberty Health will mutually prepare and agree upon all graphics
and copy for the above. Liberty Health will provide finished art to Tracker and
Tracker will print and affix labels.
4) Tracker will offer two (2) coverage terms: One (1) year for annual
policyholders and two (2) months for per-trip coverage policyholders. Liberty
Health will be billed $0.74 per activated label for per-trip coverage
policyholders and $2.22 per activated label for annual plan policyholders.
5) Liberty Health will modem transfer on a daily basis policyholder information
to be linked to the Tracker label at the time of activation.
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6) Tracker will pay Liberty Health 10% of all revenues received from additional
label sales and renewals. Tracker and Liberty Health will mutually agree on the
content, frequency and channels used to communicate with Tracker members
registered through this promotion.
7) Tracker will not offer its recovery service to any other provider of
Individual Travel Health Insurance coverage in Canada for a period of one year.
8) All customer information acquired by Tracker through the Liberty Health
promotion will be considered privileged. Tracker cannot and will not share this
information with any third party unless it involves a police investigation.
We trust this agreement meets with your approval. Please sign on the appropriate
line below.
We are looking forward to a long and prosperous business relationship.
Yours truly,
/s/ Xxxx Xxxxxx /s/ Xxxxx Xxxxxxxx
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XXXX XXXXXX XXXXX XXXXXXXX
VICE PRESIDENT DIRECTOR OF MARKETING
INFORMATION SYSTEMS/ CONSUMERS AND SMALL
BUSINESS DEVELOPMENT BUSINESS MARKETS
DATE MAY 15/ 97
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