Document:

Exhibit
10.22

 

REAL
ESTATE LEASE

 

 

This Lease Agreement (“Lease”)
is made effective as of the January 1, 2002 (Date), by and between LifeLink
Building, LLC (“Landlord”), and LifeLink Corporation (“Tenant”). The parties
agree as follows:

 

1.                         Premises. Landlord,
in consideration of the lease payments provided in this Agreement, leases to
Tenant 5,500 sq. feet in the The LifeLink Building (the “Premises”) located at
1918 Prospector Drive, Park City, UT 84060.

 

2.                         Tcrm. The lease
term shall commence on the Date and run for sixty (60) months. This Lease shall
be renewable at the then current market lease rate, subject to the terms of
this lease, at the option of the Tenant, for an additional period of twelve
months, on January 1, 2007. The renewal option must be exercised by written
notice to Landlord sixty (60) days prior to the end of the lease period.

 

3.                         Lease Payments.
Tenant shall pay to Landlord monthly lease payments of $11,000.00, payable in
advance, on the first day of each month. Lease payments shall be increased by
4% of the previous year’s payments at the end of each twelve-month period. Such
payments shall be made to Landlord at 1918 Prospector Ave., Park City, UT
84060. This address may be changed from time to time by Landlord.

 

4.                         Utilities and
Services. Landlord shall pay all utilities and services in connection with the Premises.

 

5.                         Security
Deposit. At the time of signing of this Lease, Tenant shall pay to Landlord, in
trust, the sum of $0.00 to be held and disbursed for Tenant damages to the Premises
(if any) as provided by law.

 

6.                         Late Payments.
Tenant shall also pay a late charge equal to 1.00% of the required monthly payment
for each payment that is not paid within 15 days after the due date for such
late payment.

 

7.                         Possession.
Tenant shall be entitled to possession on the first day of the term of this
Lease, and shall yield possession to Landlord on the last day of the term of
this Lease, unless otherwise agreed by both parties in writing.

 

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8.                         Use of
Premises. Tenant may use the Premises only for administrative offices,
miscellaneous storage and for the operation of a service business. The Premises
may not be used for any other purpose without the prior written consent of
Landlord.

 

9.                         Maintenance.
Landlord shall have the obligation to maintain the Premises in good repair at
all times.

 

10.                   Access by
Landlord to Premises. Subject to Tenant’s consent (which shall not be
unreasonably withheld), Landlord shall have the right to enter the Premises to
make inspections, provide necessary services, or show the unit to prospective
buyers, mortgagees, tenants or workmen. As provided by law, in the case of an
emergency, Landlord may enter the Premises without Tenant’s consent.

 

11.                   Property
Insurance. Landlord and Tenant shall each be responsible to maintain
appropriate insurance for their respective interests in the Premises and
property located on the Premises.

 

12.                   Liability
Insurance. Tenant shall maintain public liability insurance with personal injury
limits of at least $1,000,000.00 for injury to one person, and $1,000,000.00
for any one accident, and a limit of at least $300,000.00 for damage to
property. Tenant shall deliver appropriate evidence to Landlord as proof that
adequate insurance is in force. Landlord shall have the right to require that
the Landlord receive notice of any termination of such insurance policies.

 

13.                   Indemnity
Regarding Use of Premises. Tenant agrees to indemnify, hold harmless, and
defend Landlord from and against any and all losses, claims, liabilities, and
expenses, including reasonable attorney fees, if any, which Landlord may suffer
or incur in connection with Tenant’s negligence in its use of the Premises.
Landlord agrees to indemnify, hold harmless, and defend Tenant from and against
any and all losses, claims, liabilities, and expenses, including reasonable attorney
fees, if any, which Tenant may suffer or incur in connection with Landlord’s
negligence in its management and maintenance of the Premises.

 

14.                   Dangerous
Materials. Tenant shall not keep or have on the Premises any article or thing
of a dangerous, inflammable, or explosive character that might substantially
increase the danger of fire on the Premises, or that might be considered
hazardous by a responsible insurance company, unless the prior written consent
of Landlord is obtained and proof of adequate insurance protection is provided
by Tenant to Landlord.

 

15.                   Taxes. Landlord
shall pay all real estate taxes, assessments and association fees for the Premises.

 

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16.                   Mechanics
Liens. Neither the Tenant nor anyone claiming through the Tenant shall have the
right to file mechanics liens or any other kind of lien on the Premises and the
filing of this Lease constitutes notice that such liens are invalid. Further,
Tenant agrees to give actual advance notice to any contractors, subcontractors
or supplies of goods, labor, or services that such liens will not be valid.

 

17.                   Defaults.
Tenant shall be in default of this Lease, if Tenant fails to fulfill any lease
obligation or term by which Tenant is bound. Subject to any governing
provisions of law to the contrary, if Tenant fails to cure any financial
obligation within 30 days (or any other obligation within 30 days after written
notice of such default is provided by Landlord to Tenant, Landlord may take possession
of the Premises without further notice, and without prejudicing Landlord’s
rights to damages. In the alternative, Landlord may elect to cure any default
and the cost of such action shall be added to Tenant’s financial obligations
under this Lease. In the event Tenant fails to cure the default after receipt
of written notice from the Landlord, Tenant shall pay all reasonable costs,
damages, and expenses suffered by Landlord by reason of Tenant’s defaults.

 

18.                   Cumulative
Rights. The rights of the parties under this Lease are cumulative, and shall
not be construed as exclusive unless otherwise required by law.

 

19.                   Assignability/Subletting.
Tenant may not assign or sublease any interest in the Premises without the
prior written consent of Landlord, which shall not be unreasonably withheld.

 

20.                   Entire
Agreement/Amendment. This Lease Agreement contains the entire agreement of the parties
and there are no other promises or conditions in any other agreement whether
oral or written. This Lease may be modified or amended in writing, if the
writing is signed by the party obligated under the amendment.

 

21.                   Severability.
If any portion of this Lease shall be held to be invalid or unenforceable for
any reason, the remaining provisions shall continue to be valid and
enforceable. If a court finds that any provision of this Lease is invalid or
unenforceable, but that by limiting such provision it would become valid and
enforceable, then such provision shall be deemed to be written, construed, and
enforced as so limited.

 

22.                   Subordination
of Lease. This Lease is subordinate to any mortgage that now exists, or may be given
later by Landlord, with respect to the Premises, provided that any such
mortgage shall not extend to Tenant its agreement of non-disturbance.

 

23.                   Amenities.
Tenant shall have free use of the existing phone system in the building.

 

24.                   Quiet
Enjoyment. Tenant shall have quiet enjoyment of the Premises, subject to the
terms of this lease.

 

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25.                   Notice. Notices
under this Lease shall not be deemed valid unless given or served in writing and
forwarded by mail, postage prepaid, addressed as follows:

 

Landlord: LifeLink Building,
LLC

1918 Prospector Ave.

Park City, UT 84060

 

Tenant: LifeLink Corporation

1918 Prospector Ave.

Park City, UT 84060

 

Such address may be changed
from time to time by either party by providing notice as set forth above.

 

The parties hereby make this
Lease Agreement effective by signing as

shown below.

 

 

Landlord: LifeLink Building,
LLC

 

 

	
  By:

  	
   

  	
  /s/ Craig Wm. Earnshaw

  	
  1/5/02

  
	
  Craig Wm. Earnshaw, Manager

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Tenant: LifeLink Corporation

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
  /s/ Craig Wm. Earnshaw

  
	
  Name:

  	
   

  	
  Craig Wm. Earnshaw, Manager

  
	
  Title:

  	
   

  	
  President

  
					

 

4Exhibit 10.23

 

Compensation Arrangement for Ebix’s Executive Officers and
Directors

 

On December 4, 2004, the
Board of Directors of Ebix, Inc. (the “Company”), upon recommendation of the
Compensation Committee of the Board of Directors and considering the operating
results of the Company for the first nine months of 2004, approved a 2004
incentive compensation program for the Company’s two executive officers:  Robin Raina, the Company’s Chairman, Chief
Executive Officer and President, and Richard J. Baum, the Company’s Executive
Vice President, Chief Financial Officer and Secretary.   Pursuant to this program, each of Messrs.
Raina and Baum is to receive (1) a cash bonus compensation comprised of two
parts: regular bonus and supplemental bonus. The regular bonus is comprised of
50% of the officer’s annual base salary. 
For 2004, Mr. Raina’s annual salary was $370,000, and his regular bonus
is calculated as $185,000 and Mr. Baum’s annual salary was $212,000 as such his
regular bonus is calculated as $106,000). and (2) shares of restricted common
stock of the Company having a grant date value equal to 10% of the aggregate of
the salary and bonus compensation earned by him for 2004 (such restricted stock
to vest in three equal annual installments). 
The payment of the cash bonuses and issuance of the restricted stock is
subject to the determination by the Compensation Committee and the Board, after
the Company’s release of its 2004 operating results, that such operating
results are substantially consistent with the operating results of the Company
for the first nine months of 2004, as they compare to those for the same period
of the prior year (excluding executive incentive compensation).  The restricted stock awards will be made
pursuant to the Company’s 1996 Stock Incentive Plan.

 

Also on December 4, 2004,
the Board of Directors of the Company, upon recommendation of the Compensation
Committee approved a new compensation program for the Company’s non-employee
directors, to commence in 2005.  Pursuant
to this program, each non-employee director is to receive an annual cash
retainer of $14,000.  The Chairman of the
Audit Committee is to receive an additional annual fee of $5,000 and each other
member of the Audit Committee and each member of the Compensation Committee is
to receive an addition annual fee of $2,500. 
Also, each non-employee director is receive an initial grant on his
election to the Board of an option to purchase 1,500 shares, vesting over three
years, and an annual grant thereafter of an option to purchase 1,500 shares,
vesting immediately.   These option
grants will be made pursuant to the Company’s 1996 Stock Incentive Plan.

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