EXHIBIT 10.1
ACKNOWLEDGMENT OF ENTITLEMENT TO STOCK
Pursuant to: i) that certain Memorandum of Agreement ("MOA") executed as
of April 4, 2000, by Computerized Thermal Imaging, Inc., a Nevada corporation
("CTI"), Xxxxx Scientific Inc., a California corporation ("BSI"), Xxxxxxx X.
Xxxxx and Xxxxxxx X. Xxxxx and Xxxxxxxx X. Xxxxx as Trustees of the Xxxxxxx X.
Xxxxx and Xxxxxxxx X. Xxxxx Trust; and ii) CTI's acquisition of all of the
outstanding and issued shares of BSI's common stock as contemplated in the
MOA, CTI hereby acknowledges and affirms that the following persons and
entities are entitled to and shall receive the number of shares of CTI's
common stock equal to the values set forth below, valued at the Bid Price (as
defined in the MOA) as of April 17, 2000. Said shares shall be issued to said
persons and entities immediately upon the approval by the United States
Securities and Exchange Commission of the registration statement that CTI
shall file on or about May 1, 2000.
ISSUEE VALUE
------ -----
Xxxxxxx X. Xxxxx and Xxxxxxxx X. Xxxxx $4,700,000
as Trustees for the Xxxxxxx X. Xxxxx
and Xxxxxxxx X. Xxxxx Trust
Xxxxxxxxx Xxxxx Xxxxxxxxx $ 250,000
Southeastern Neuroscience Institute $ 440,000
Profit Sharing Plan for the Benefit
of Xxxxx Xxxxx, M.D.
Xxxxx Xxxxx, M.D. $ 110,000
DATED: April 17, 2000
COMPUTERIZED THERMAL IMAGING, INC.
By: /s/ Xxxxx X. Xxxxxxxx
--------------------------
XXXXX X. XXXXXXXX
President and Chief
Executive Officer
