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EXHIBIT 10.3
PROMISSORY NOTE
$________________
June 30, 2000
Atlanta, Georgia
FOR VALUE RECEIVED, the undersigned, _____________________, an
individual resident of the State of ________ (the "Maker"), promises to pay, on
the Maturity Date specified below, to the order of INFOCURE CORPORATION, a
Delaware corporation (the "Holder"), the principal sum of
________________________ ($_____________), or the then unpaid principal balance
thereof, together with interest upon the unpaid principal balance of this
Promissory Note (this "Note"), calculated at a rate per annum specified in the
following paragraph.
Interest will accrue on the unpaid principal balance of this
Note at a rate per annum equal to one half percent (1/2%) per annum in excess of
the rate of interest announced from time to time by Bank of America as its
"prime rate." Interest shall be computed for the actual number of days elapsed
on the basis of a 360-day year and shall be payable in arrears on the last
business day of each calendar quarter.
The entire principal indebtedness evidenced by this Note,
together with all unpaid and accrued interest thereon, shall be due and payable
on _____________ (the "Maturity Date").
This Note may be prepaid in whole or in part at any time at
the option of the Maker without premium or penalty. Any payment made by the
Maker on this Note shall be applied first to accrued and unpaid interest and
thereafter to principal.
Payments of both principal and interest shall be made at the
offices of the Holder at 0000 Xxx Xxxxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxx 00000,
or at such other location as Holder hereof may designate in writing to the
Maker. All payments of principal and interest shall be in immediately available
funds in lawful money of the United States of America.
In the event the indebtedness evidenced by this Note is
collected by legal action or through an attorney-at-law, Holder shall be
entitled to recover from Maker all costs of collection, including without
limitation reasonable attorneys' fees. This Note will automatically become due
and payable without notice or demand by Holder upon the filing of any petition
by or against the Maker under federal bankruptcy laws or state insolvency or
receivership laws.
Failure or forbearance of Holder to exercise any right
hereunder or otherwise granted by law shall not affect or release the liability
of Maker hereunder and shall not constitute a waiver of such right unless so
stated by Xxxxxx in writing. THIS NOTE SHALL BE DEEMED TO BE MADE UNDER, AND
SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY, THE LAWS OF THE STATE OF
GEORGIA. Time is of the essence of this Note.
PRESENTMENT FOR PAYMENT, NOTICE OF DISHONOR AND PROTEST ARE
HEREBY WAIVED.
WITNESS the execution of this Note by the undersigned, which
consists of two pages including this signature page as of the date first above
written.
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The following table sets forth the name of the maker, issue date, maturity date
and principal amount of promissory notes, in the form set forth above, received
from executive officers of the issuer, or their affiliates, in connection with
exercise of stock options by, or cash advances to such officers.
Schedule of Obligees
Name of Maker Date of Issue Date of Maturity Principal Amount
------------- ------------- ---------------- ----------------
Compass Partners, LLC 06/30/00 12/31/00 $1,449,049.00
(an affiliate of
Xxxxxxx Xxxxxxx)
Xxxxx X. Xxxxx 06/30/00 12/31/00 $ 673,144.00
Xxxxxxxxx X. Xxxx 06/30/00 12/31/00 $3,115,716.37
Xxxxxxx X. Xxxxxxx 06/30/00 06/30/02 $2,122,800.00
Xxxxx X. Xxxxx 06/30/00 06/30/02 $2,122,800.00
Xxxxxxxxx X. Xxxx 06/30/00 06/30/02 $2,691,882.25
