Director's services. (a) UMC hereby authorizes Director on a non-exclusive basis to solicit hospitals, physicians, clinics, and other healthcare providers in PUERTO RICO AND THE U.S.V.I (the "Sales Area") to use the UMC Services, to assist UMC in entering into contracts with solicited hospitals and clinics to provide the UMC Services, and to support UMC in maintaining its business relationships with solicited hospitals and clinics. Director acknowledges UMC may itself market the UMC Services within the Sales Area, and that UMC has the right to enter into agreements with others, including sales agents, for the sale of the UMC Services within the Sales Area. (b) Director agrees to comply with all of UMC's procedures, as they may change from time to time. To that end, Director will refer potential customers it solicits to UMC in accordance with UMC's standard procedures, and all contracts with such customers for the UMC Services shall be entered into by UMC and shall be on UMC's authorized contract form, as such form may change from time to time. Director agrees to describe UMC and the UMC Services to potential customers in a complete and accurate manner, including, without limitation, accurately presenting UMC's established prices, specifications, policies, terms and conditions, all of which Director understands may be changed by UMC from time to time at its discretion. (c) Director's performance hereunder shall be evaluated on a quarterly basis to determine the total revenues derived by UMC from customers sold by or with assistance from Director. The Compensation Committee of the UMC Board of Directors shall be responsible for awarding shares of UMC Common Stock, awarding exercisable UMC Common Stock Purchase Warrants, and/or authorizing the payment of cash commissions (collectively "Compensation") to Director consistent with the terms of this agreement.
Appears in 1 contract
Sources: Director's Incentive Compensation Agreement (United Medicorp Inc)
Director's services. (a) UMC hereby authorizes Director on a non-exclusive basis to solicit hospitals, physicians, clinics, and other healthcare providers in PUERTO RICO AND THE U.S.V.I STATE OF TEXAS (the "Sales Area") to use the UMC Services, to assist UMC in entering into contracts with solicited hospitals and clinics to provide the UMC Services, and to support UMC in maintaining its business relationships with solicited hospitals and clinics. Director acknowledges UMC may itself market the UMC Services within the Sales Area, and that UMC has the right to enter into agreements with others, including sales agents, for the sale of the UMC Services within the Sales Area.
(b) Director agrees to comply with all of UMC's procedures, as they may change from time to time. To that end, Director will refer potential customers it solicits to UMC in accordance with UMC's standard procedures, and all contracts with such customers for the UMC Services shall be entered into by UMC and shall be on UMC's authorized contract form, as such form may change from time to time. Director agrees to describe UMC and the UMC Services to potential customers in a complete and accurate manner, including, without limitation, accurately presenting UMC's established prices, specifications, policies, terms and conditions, all of which Director understands may be changed by UMC from time to time at its discretion.
(c) Director's performance hereunder shall be evaluated on a quarterly basis to determine the total revenues derived by UMC from customers sold by or with assistance from Director. The Compensation Committee of the UMC Board of Directors shall be responsible for awarding shares of UMC Common Stock, awarding exercisable UMC Common Stock Purchase Warrants, and/or authorizing the payment of cash commissions (collectively "Compensation") to Director consistent with the terms of this agreement.
Appears in 1 contract
Sources: Director's Incentive Compensation Agreement (United Medicorp Inc)