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Title: |
Finders Agreement |
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Entities: |
Citibank, NA; HealthWatch, Inc.; Commonwealth Associates, L.P.; Healthwatch Inc. |
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Date: |
2000 |
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Size: |
Preview shows 3KB of 9KB total |
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Price: |
$38 |
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ID: |
#143439 |
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March 21, 2000
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HealthWatch,, Inc.
3525 Piedmont Road
Seven Piedmont Center, Suite 300
Atlanta, Georgia 30305
Attn: Paul W. Harrison
Gentlemen:
You have agreed that Commonwealth Associates, L.P. ("Commonwealth') may act
as a finder or financial consultant for you in various transactions in which
HealthWatch, Inc. (the "Company")may be involved. The Company hereby agrees that
in the event that Commonwealth or a disclosed agent, representative or other
designee of Commonwealth shall introduce to the Company another party or entity
(which introduction shall be documented), and that as a result of such
introduction, any of the following transactions are consummated with such other
party or entity (a "Covered Transaction"), then the Company shall pay to
Commonwealth a finder's fee of 3% of the Total Consideration paid in such
transaction: (i) any acquisition of more than 25% of the stock or assets of any
company; (ii) any sale of more than 25% of the stock or assets of the- Company;
(iii) any merger, joint venture or other business combination 1.0 which the
Company is a party. Notwithstanding the foregoing, the Company acknowledges that
it is obligated to pay Commonwealth a fee of 5% of the Total Consideration paid
in a Covered Transaction with Halis, Inc.
For purposes of this Agreement, "Total Consideration" shall mean the total
value of all cash, securities, or other property paid at the closing of a
Covered Transaction (or to be paid within two years) either to the Company or
its shareholders or by the Company and its shareholders with respect to such
Covered Transaction, including, without limitation, consideration paid in
respect of (i) the assets of the acquired company, (ii) the capital stock of the
acquired company (and any securities convertible into options, warrants or other
rights to acquire such capital stock) and (iii) the assumption, directly or
indirectly (by operation of law or otherwise), of any long-term liabilities of
the acquired company or repayment of indebtedness, including without limitation,
indebtedness secured by the assets of the acquired company. In the event a
Covered Transaction is consummated in one or more steps, including without
limitation, any additional consideration paid or to be paid in any subsequent
step as set forth above, such additional consideration shall be included in the
definition of "Total Consideration". Any payments due to Commonwealth will be
made at the same time as the payments to the parties and all payments will be
made in the same form as received by the parties unless otherwise mutually
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