Exhibit 10.51
LOAN REPAYMENT AGREEMENT
This Loan Repayment Agreement (the "Agreement") is by and among
Radiation Therapy Services, Inc., a Florida corporation (the "Corporation"),
Xxxxxx X. Xxxxxxxx, M.D.; Xxxxxxx X. Xxxxx, M.D.; Xxxxxx Xxxxxxxx, M.D.; Xxxxx
X. Xxxxxxx, M.D.; and Xxxxx X. Xxxxxxxxxx, M.D.; (Drs. Dosoretz, Katin,
Sheridan, Blitzer and Xxxxxxxxxx are hereinafter individually referred to as
"Shareholder").
WITNESSETH
WHEREAS, the Corporation owes each Shareholder certain sums pursuant to
various outstanding loans from the Shareholder to the Corporation which in the
aggregate total $1,465,490.98 in principal amount (collectively the "Loans");
and
WHEREAS, the parties desire to agree that the Corporation will repay
each Shareholder, and each Shareholder will accept, an equal amount in full
satisfaction of the Loans in the event the proposed underwritten initial public
offering of common stock by the Corporation is completed.
NOW, THEREFORE, in consideration of the mutual promises and covenants
herein contained and for other valuable consideration, receipt of which is
hereby acknowledged, the parties hereto agree as follows:
1. In the event the Corporation's proposed initial public
offering is consummated, each Shareholder agrees to accept from the Corporation
the sum of $298,098.20 as full repayment and satisfaction of the outstanding
Loans. Upon payment of $298,098.20 by the Corporation to each Shareholder, the
Loans shall be deemed paid in full.
2. This Agreement may be signed in one or more counterparts, all
of which shall be considered one and the same agreement, and a facsimile
signature shall be deemed the same as an original signature.
[THE SIGNATURE PAGE FOLLOWS THIS PAGE]
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IN WITNESS WHEREOF, the undersigned have executed this instrument
effective as of the date set forth herein.
RADIATION THERAPY SERVICES, INC. SHAREHOLDERS
By:
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Name: Xxxxx X. Xxxxxxxxx Xxxxxx X. Xxxxxxxx, M.D.
Title: Executive Vice President
and Chief Financial Officer
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Xxxxxxx X. Xxxxx, M.D.
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Xxxxxx Xxxxxxxx, M.D.
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Xxxxx X. Xxxxxxx, M.D.
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Xxxxx X. Xxxxxxxxxx, M.D.
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