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Title: |
Asset Purchase Agreement |
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Entities: |
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Date: |
2006 |
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Preview shows 5KB of 115KB total |
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Price: |
$54 |
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ID: |
#2170741 |
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ASSET PURCHASE AGREEMENT
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THIS ASSET PURCHASE AGREEMENT (the "Agreement") is made and entered
into effective as of June 20, 2006, by and among TELEMANAGEMENT SERVICES, INC.
d/b/a TMS PROFESSIONAL MARKETS GROUP, a Delaware corporation (the "Company"),
ACCESS WORLDWIDE COMMUNICATIONS, a Delaware corporation (the "Shareholder") and
TMS PROFESSIONAL MARKETS GROUP, LLC, a Delaware limited liability company (the
"Buyer").
RECITALS
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A. The Buyer desires to purchase substantially all of the
Company's assets.
B. The Company desires to sell and the Buyer desires to
purchase such assets upon the terms and subject to the conditions set forth
herein.
C. The Shareholder owns 100% of the Company's outstanding capital
stock.
AGREEMENT
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NOW, THEREFORE, in consideration of the foregoing recitals and the
mutual promises, representations, warranties, and covenants hereinafter set
forth and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:
ARTICLE I
DEFINITIONS
1.1 Definitions. Capitalized terms used in this Agreement shall have
the meanings set forth below.
"Acquired Assets" has the meaning given such term in Section 2.1(a).
"Affiliate" means any Person that directly, or indirectly through one
or more intermediaries, controls, or is controlled by, or under common control
with, the Person(s) specified. The term "control" (including the terms
"controlling," "controlled by" and "under common control with") means the
possession, directly or indirectly, of the power to direct or cause the
direction of the management or the policies of a Person, whether through the
ownership of at least fifty percent (50%) of the voting securities of such
Person, by contract or otherwise.
"Agreement" has the meaning given such term in the preface above.
"Assumed Liabilities" has the meaning given such term in
Section 2.1(c).
{PAGE}
"Benefit Program or Agreement" means any employment, stock option plan,
collective bargaining agreement, bonus plan or arrangement, incentive award plan
or arrangement, vacation and sick leave policy, severance pay policy or
agreement, deferred compensation agreement or arrangement, consulting agreement,
employment contract and each other employee benefit plan, agreement,
arrangement, program, practice or understanding which is not described in
Section 3.07(a)(i).
"Business" means the business of providing sales and marketing
communications services to health care clients including, without limitation,
pharmaceutical, biotech, medical device, medical diagnostic, and other related
pharmaceutical or health care companies. These services include both outbound or
inbound communications with health care professionals (physicians, physician
assistants, nurse practitioners, nurses, and other health care professionals),
pharmacists, patients, and health care consumers such as product detailing to
physician offices, physician and pharmacist profiling, patient education and
other direct to consumer programs, disease management, pharmacy stocking,
pharmacy education & awareness, vacant territory management, direct-to-consumer
call handling, patient compliance/persistency programs, patient acquisition
programs, consumer affairs, customer service, clinical trial recruitment and
screening. Types of communications utilized include inbound and outbound
telephone calls (including land lines, wireless, IVR, and VOIP), email and
web-based communications, faxing, and fulfillment services including, without
limitation, direct mail, package, coupon fulfillment and rebate fulfillment.
Notwithstanding the foregoing, the services performed by AM Medica
Communications Group, a wholly owned subsidiary of the Shareholder, which
includes (i) organizing meetings that provide medical education programs, (ii)
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