Document:

Exhibit 4.6

 

(AVAILENT
FINANCIAL LETTERHEAD)

 

February 21, 2003

 

 

Mr. Raymond Molina

 

VIA HAND DELIVERY

 

 

Dear Mr. Molina,

 

 

LETTER
OF AGREEMENT

 

This letter is to set forth
the understanding between the parties, Raymond Molina (“Molina”) and Availent
Financial, Inc. (the “Company”), as to activities between and on behalf of the
Company and Molina.

 

1)                                      Molina shall receive a 15% commission for
selling rights to the South Florida (Broward and Dade County) area. Commissions
will only be paid on total sales in excess of $1,000,000.

 

2)                                      Molina shall receive a 10% commission on the
funding of the $8 million “banking” opportunity under acceptable terms and
timing to the Company.

 

3)                                      Molina shall receive the following
compensation regarding interim funding receipts from equity by the company
between now and the SB-2 / secondary public offering. Payments to Molina are
contingent upon and will be paid only after the receipt by the Company of an
acceptable Lehman Brothers investment banking letter.

 

a.                                       For parties introduced to the Company by
Molina, compensation will be based on the Lehman Brothers formula.

 

b.                                      For all other parties, the compensation to
Molina will be 2%.

 

4)                                      In addition to the above, Molina will receive
$10,000 within 15 business days of signing this agreement.

 

5)                                      Molina will be granted 500,000 cashless
warrants to purchase Availent Financial, Inc. common stock at $1.00 per share
upon signing of this agreement. The warrants will carry a 36 month term for
exercise from the

 

1

 

date of grant. The warrants
are granted in anticipation of and for the delivery by Molina of an acceptable
investment banking letter from Lehman Brothers as part of an anticipated equity
funding by Lehman Brothers as provided in Paragraph 5 below..

 

6)                                      Molina will be awarded 750,000 shares of
Availent Financial, Inc. common stock in connection with and at the time of a
Lehman Brothers capital equity funding acceptable to the Company.

 

Please sign below as
indication of your agreement.

 

Sincerely,

 

	
  /s/ PATRICK MCGEENEY

  	
   

  	
   

  
	
  Patrick McGeeney

  President and Chairman

  Availent Financial, Inc.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Acknowledged and Agreed:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ RAYMOND MOLINA

  	
   

  	
  2-21-03

  
	
  Raymond Molina

  	
  Date

  

 

2Exhibit 4.7

 

BROCKINGTON
SECURITIES, INC.

2805 Veterans Highway  #1

Ronkonkoma, NY 11779

Member NASD/SIPC

 

February 27, 2003

 

Availent Financial, Inc.

2720 Stemmons Freeway

South Tower, Suite 600

Dallas, Texas 75207

Attn: Patrick A. McGeeney,
President

 

FINANCIAL SERVICES AGREEMENT

 

Gentlemen:

 

The purpose of this letter
is to confirm the engagement of Brockington Securities, Inc. (“BSI”) by
Availent Financial, Inc., a Delaware corporation (“AVFL”), as a non-exclusive
provider of financial advisory services, including, without limitation,
investment banking services.

 

1. Services. BSI will, for
the term of this Financial Services  Agreement (this “Agreement”), hold itself available to AVFL and provide
to AVFL, upon the request of AVFL, financial advisory services to AVFL,
including, without limitation, (a) by identifying and/or evaluating strategic
and financial transactions for and/or on behalf of AVFL, (b) by structuring
acquisitions of and/or by AVFL for and/or on behalf of AVFL, (c) by rendering
fairness opinions for and/or on behalf of AVFL, if appropriate in the sole and
absolute discretion of AVFL, (d) investment banking services and similar
corporate financing transaction services, and (e) by placing at the disposal of
AVFL the judgment and experience of BSI and by providing business development
services to AVFL including, without limitation, (i) evaluation of AVFL’s
prospects as a candidate for consolidation, merger, or acquisition into or with
another entity or entities and (ii) evaluation of financial matters and
assistance in financial arrangements and investment banking, and transactions,
including, without limitation, assistance and advice with regard to public
financings, mergers and acquisitions, and private funding transactions
(collectively, the “Services”); provided, however, that it is expressly agreed
and understood that BSI shall not participate in any fund raising activities
for or on behalf of AVFL or engage in any other acts or practices for or on
behalf of AVFL that would cause BSI to fail to comply with any NASD regulations
or otherwise become subject to any sanctions by the NASD.

 

2. Compensation. AVFL shall
pay BSI as full compensation for the Services and BSI shall accept as full
compensation for the Services 30,000 shares of restricted common stock of AVFL
(“Common Stock”), par value $0.01 per share, with piggyback registration rights
for the Shares pursuant to and in accordance with a registration rights
agreement customary in form and satisfactory to and prepared by AVFL, and a $5,000
cash payment payable by AVFL to BSI.

 

3. Term and Termination.
BSI’s engagement hereunder shall be for a term of one (1) year commencing on
the date of this Agreement and expiring on the first anniversary date of this
Agreement (the “Term”) unless terminated earlier by either party to this
Agreement in accordance with this Section 3. BSI’s engagement hereunder may be
terminated by either party to this Agreement at any time for any reason or no
reason upon thirty (30) days’ prior written notice to the other party;
provided, however, that

 

 

no compensation shall be payable pursuant to Section 2 of this
Agreement if (i) BSI fails for any reason to provide the Services or (ii) this
Agreement is terminated by BSI for any reason or no reason prior to the first
anniversary date of this Agreement.

 

4. Status of BSI. Nothing in
this Agreement shall be construed as granting BSI any express or implied right
or authority to create any obligation for, on behalf of, or in the name of AVFL
or to bind AVFL in any manner whatsoever. BSI is not an agent or employee of
AVFL. BSI is an independent contractor of AVFL. The terms of any transaction or
agreement between AVFL and any other party must be acceptable to AVFL in its
sole and absolute discretion. AVFL has no obligation to enter into any
transaction agreement with any party.

 

5. Control. Nothing
contained herein shall be deemed to require AVFL to take any action contrary to
its certificate of incorporation or bylaws or any other contract, agreement, or
obligation existing as of the date of this Agreement or any applicable statute
or regulation or to deprive the board of directors of AVFL of its
responsibility for, or authority over, the business and affairs of AVFL.

 

6. Confidential Information.
In the course of providing services to AVFL pursuant to this Agreement,
information may be disclosed to BSI by AVFL which is regarded as confidential
and/or proprietary by AVFL (collectively, “Confidential Information”).
Confidential Information includes, without limitation, documents, data,
memoranda, notes and other information, products, processes, customers,
equipment and other assets, financial statements, programs, prices, costs,
development plans, manufacturing, marketing, research and development, and
technology. BSI agrees to maintain, and to cause its representatives and its
affiliates to maintain, the confidentiality of all such Confidential
Information obtained from AVFL at all times during and after the Term. BSI
agrees to promptly return to AVFL, following the expiration or earlier
termination of this Agreement, or upon the earlier request by AVFL, all
Confidential Information and all copies of any documents, items, or materials
pertaining to any Confidential Information. Said shall be the property of AVFL
at all times and shall not be used for any other work by BSI nor shall BSI
permit such use by others. BSI agrees that it will not disclose any
Confidential Information without the prior express written consent of AVFL and
unless such party has executed and delivered a written confidentiality
agreement acceptable to AVFL. Any information concerning AVFL or concerning the
existence of or progress of any discussions or negotiations between AVFL and
any party, including BSI, shall be held in strict confidence by BSI. BSI shall
make no public announcement or release or comment to a representative of the
media with respect to any such discussions or negotiations without the prior
express written consent of AVFL.

 

7. Representations and
Warranties of BSI. BSI represents and warrants to AVFL that (a) BSI is a
securities broker-dealer duly licensed and registered pursuant to federal and
state securities laws rules and regulations, (b) BSI has the authority and
ability to provide the Services, and (c) BSI is a member in good standing with
the NASD and is in good standing with all states within which it is registered
to conduct securities business.

 

8. Representations and
Warranties of AVFL. AVFL represents and warrants that it has the authority to
enter into this agreement; that the agreement does not contravene any
legitimate corporate purpose; and that it has authorized an officer of AVFL to
execute this agreement.

 

9. Other
Consultants/Financial Advisors. BSI acknowledges and agrees that AVFL has
retained, is retaining, and/or may retain other consultants, financial
advisors, and investment bankers.

 

10. Jurisdiction and Venue.
This Agreement is made pursuant to, shall be construed under, and shall be
conclusively deemed for all purposes to have been executed, delivered, and
performed under the laws of the State of Texas without reference to principles
of conflicts of laws.

 

2

 

11. Counterparts. This
Agreement may be executed in two or more counterparts, each of which shall be
deemed an original and all of which together will constitute one instrument.

 

12. Notice. Any notice
hereunder shall be sent to AVFL and BSI at their respective addresses set forth
above. Any notice shall be given through registered or certified mail, postage prepaid,
and shall be deemed to have been given when deposited in the United States
mail. Either party may designate any other address to which notice shall be
given, by providing written notice to the other of such change of address in
the manner herein provided.

 

13. Entire Agreement. This
Agreement sets forth the entire agreement between the parties with respect to
the subject matter hereof and supersedes and cancels any and all prior
discussions, correspondence, agreements, and undertakings between the parties
with respect to such subject matter whether oral or written. This Agreement may
not be amended or modified except in a writing signed by each of the parties
hereto.

 

14. No Assignment. Neither
party to this Agreement may assign its rights or delegate its obligations
hereunder without the prior written consent of the other party. Any such
attempted assignment shall be null and void ab initio.

 

15. Severability. If any
provision of this Agreement conflicts with any law, rule or regulation of any
federal, state, or self-regulatory organization, including the Securities and
Exchange Commission, the blue sky laws of any state, the National Association
of Securities Dealers, Inc., or any other governmental authority having
jurisdiction over the activities or services described herein, then AVFL and
BSI shall amend this Agreement to bring any affected provision into compliance
with such law, rule, and/or regulation.

 

Remainder of Page
Intentionally Left Blank.

Signature Page to Follow.

 

3

 

IN WITNESS WHEREOF, the
parties hereto have caused this Agreement to be effective as of the date first
above written.

 

	
   

  	
  Brockington Securities,
  Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ROBERT DELVECCH

  
	
   

  	
  Name:

  	
  Robert Delvecch

  
	
   

  	
  Title:

  	
  Pres/CEO

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Availent Financial, Inc.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ PATRICK A. McGEENEY

  
	
   

  	
  Name:

  	
  Patrick A. McGeeney

  
	
   

  	
  Title:

  	
  President

  

 

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