Document:

Unassociated Document

Exhibit 10.13

 

EXPENSE REIMBURSEMENT AGREEMENT

 

THIS EXPENSE REIMBURSEMENT AGREEMENT is made and entered into as of this  7th day
of August, 2009, by and between KNOX LAWRENCE INTERNATIONAL, LLC, a Delaware limited liability company (“KLI”), and MIDAS MEDICI GROUP HOLDINGS, INC., a Delaware corporation (“MMGH”) and its successors.

 

W I T N E S S E T H:

 

WHEREAS, on January 7, 2009, the principals of KLI formed Midas Medici Group Holdings, Inc. (“Midas Medici”) to acquire Mondo Acquisition I, Inc., (“Mondo”) an SEC reporting entity with the intention of merging MMGH and Mondo in order to create a public Midas Medici to acquire companies in the energy services sector;

 

WHEREAS, on May 15, 2009, Midas Medici purchased 100% of the issued and outstanding common stock of Mondo;

 

WHEREAS, on May 19, 2009, Midas Medici changed its name to Midas Medici Group Inc, (“MMG”);

 

WHEREAS, on May 19, 2009, MMG distributed the Mondo Stock to its stockholders and was subsequently dissolved;

 

WHEREAS, on May 22, 2009, Mondo Acquisition I, Inc. changed its name to Midas Medici Group Holdings, Inc. (“MMGH”);

 

WHEREAS, KLI has incurred and will continue to incur certain expenses and obligations on behalf of MMGH with regards to all tasks associated with all the necessary steps from the acquisition of Mondo through its acquisition of UtiliPoint;

 

WHEREAS, MMGH agrees to reimburse KLI for such incurred expenses and obligations upon KLI furnishing invoices for such expenses to the extent that MMGH has the resources;

 

WHEREAS, KLI and MMGH desire to memorialize such arrangement and their agreement by entering into this Agreement.

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto agree as follows:

 

 

1.           Reimbursement of Expenses.

 

(a)           MMGH and KLI hereby agree to such arrangement, for KLI to incur expenses and obligations on behalf of MMGH. Additionally, KLI agrees for no fee to provide any services as may be needed related to general organizational and operational activities of MMGH and certain activities
in connection with MMGH’s acquisition of an operating company to the extent that KLI does not incur expenses from third parties in doing so.

 

(b)           MMGH hereby authorizes KLI to incur expenses and obligations and to make payments to third party services providers on behalf of MMGH in an amount of up to $350,000.

 

(c)           KLI shall provide to MMGH from time to time invoices for expenses and obligations directly incurred in connection therewith, and any amounts that KLI has paid or assumed liability for on behalf of MMGH under subsection (the “KLI
Expenses and Obligations”).  MMGH will reimburse KLI for all KLI expenses and obligations promptly after the delivery of any invoices of such expenses and obligations provided herein including expenses and obligations previously incurred; provided that KLI may agree to permit MMGH to carry a balance owed from time to time.  MMGH hereby assumes and agrees to satisfy and discharge, as the same become due, all of the existing unreimbursed KLI Expenses.

 

 

 

 

 

 

 

(d)           MMGH acknowledges and agrees that KLI will not be required to devote KLI’s (or any of its employees, officers, directors, affiliates or associates) full time and business efforts to the duties of MMGH specified in this Agreement.  So long as KLI accomplishes
its duties hereunder, it shall be left to the professional judgment of KLI as to the amount of time and the manner necessary to perform its duties.

 

2.           Term of Agreement; Termination.

 

(a)           This Agreement will commence as of the date hereof and will remain in effect until the one (1) year anniversary of the date hereof, unless terminated earlier in accordance with the provisions of this Agreement
or extend by mutual agreement of KLI and MMGH.

 

(b)           Either party shall have the right to terminate this Agreement by providing 30 days prior written notice to the other party at any time during the term hereof, or upon the occurrence of any of the following events:

 

(i)  any material failure by such other party to perform any of its obligations under this Agreement and such failure continues uncured for fifteen (15) days after written notice of such failure is delivered to such other party; or

 

(ii)  the filing of a voluntary petition by such other party seeking relief under the United States Bankruptcy Code or a case or proceeding is commenced against such other party seeking a decree or order under the United States Bankruptcy Code and such case or proceeding remains undismissed or unstayed for 60 days or more or
a decree or order granting the relief sought in such case or proceeding shall be entered by a court of competent jurisdiction.

 

3.           Compliance with Laws.  Each of the parties covenants and agrees that it will comply with all applicable federal, state and local laws, rules and regulations and pertinent provisions of all contracts,
permits and pertinent agreements to which it is a party or is otherwise bound that relate to this Agreement.

 

4.           Standard of Care.  KLI (including any person acting for or on behalf of KLI) will not be liable for any mistakes of fact, errors of judgment, losses sustained by MMGH or acts or omissions of any
kind, unless caused by the gross negligence or willful misconduct of KLI.

 

5.           Notices. Any notices, requests, demands and other communications required or permitted to be given under this Agreement will be in writing and, except as otherwise specified in writing, will be given by personal
delivery, facsimile transmission, express courier service or by registered or certified mail, postage prepaid, return receipt requested:

	
Ifto KLI: 
	
445 Park Avenue

20th Floor

New York, New York 10022

Attn:  Johnson Kachidza

Telephone:  (212) 792-0921

Facsimile:  (212) 792-0958                                         

 

	
If to MMGH: 
	
445 Park Avenue

20th Floor

New York, New York 10022

Attn:  Nana Baffour

Telephone:  (212) 792-0922

Facsimile:  (212) 792-0958                                        

 

 

 

 

 

 

 

 

 

or to such other addresses as either party hereto may from time to time give notice of (complying as to delivery with the terms of this Section 5) to the other. Notice by registered or certified mail will be effective three days after deposit in the United States mail. Notice by any other permitted means will be effective upon receipt.

 

7.           Miscellaneous.

(a)           This Agreement shall inure to the benefit of the parties and their successors and permitted assigns.

 

(b)           If any term or provision of this Agreement or the application thereof to any person or circumstance will, to any extent, be invalid or unenforceable, the remainder of this Agreement, or the application of such term or provision to persons or circumstances other than those
which are invalid or unenforceable, will not be affected thereby, and each term and provision of this Agreement will be valid and be enforced to the fullest extent permitted by law.

 

(c)           This Agreement contains the entire agreement among the parties hereto with respect to the matters herein contained and supersedes and preempts any prior understandings, agreements or representations by or among the parties, written or oral, which may have related to the
subject matter hereof in any way.

 

(d)           This Agreement may be executed simultaneously in two or more counterparts, any one of which need not contain the signatures of more than one party, but all such counterparts taken together shall constitute one and the same Agreement.

 

(e)            This Agreement shall be governed under the laws of the State of New York.

 

(g)           This Agreement may only be modified or amended pursuant to written instruments executed by both parties hereto.  The obligations of the parties hereunder may be waived only with the written consent of the other party.

 

[Signatures appear on next page]

 

 

 

 

 

 

 

[Signature page to Expense Reimbursement Agreement]

 

IN WITNESS WHEREOF, intending to be legally bound hereby, the parties hereto, by their duly authorized representatives, have executed this Agreement as of the date first above written.

 

 

	 	KNOX LAWRENCE INTERNATIONAL, LLC	 
	 	 	 	 
	
 
	
By: 
	/s/ Johnson Kachidza       	 
	 	 	Name: Johnson Kachidza      	 
	 	 	Title: Managing Principal 	 
	 	 	 	 

 

 

	 	
MIDAS MEDICI GROUP HOLDINGS, INC.
	 
	 	 	 	 
	
 
	
By: 
	/s/ Nana Baffour	 
	 	 	Name: Nana Baffour 	 
	 	 	Title: CEO and Co-Executive ChairmanUnassociated Document

 

Exhibit 10.14

 

MANAGEMENT AGREEMENT

 

THIS MANAGEMENT AGREEMENT (this "Agreement") is executed as of the 23rd day of July 2007 (the "Effective
Date"), by and between Knox Lawrence International, LLC ("Manager"), a Delaware limited liability company, and Utilipoint International, Inc. ("Company"), a New Mexico Corporation.

 

RECITALS

 

WHEREAS, Manager directly, and indirectly through a subsidiary, owns a controlling interest in the Company;

 

WHEREAS, Company is in need of certain strategic and management assistance in the operation of its business; and

 

WHEREAS, Manager is willing to give such support to Company in exchange for appropriate compensation;

 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth below, Manager and Company, hereby agree as follows:

 

ARTICLE I

 

DESCRIPTION OF SERVICES

 

Subject to any limitations imposed by applicable law or regulation, Manager will render management, consulting and financial services to Company and its subsidiaries, which services will include advice and assistance concerning aspects of the operations, planning and financing of Company and its subsidiaries, and negotiating joint ventures,
acquisitions and stock for services transactions, as needed from time to time, including advising Company and its subsidiaries in their relationships with banks and other financial institutions and with accountants, attorneys, financial advisers and other professionals.

 

ARTICLE II

 

COMPENSATION

 

 2.1 Compensation Generally. As consideration for the services described above, commencing on the Effective Date, Company shall pay to Manager an annual fee of $100,000.00 (the "Management Fee"). The Management
Fee shall be paid by Company in advance in [four (4) equal installments coinciding with the fifteenth (15th) day of the first (1st) month
of each calendar quarter]. Payment shall be made within fifteen (15) days of invoice.

 

 2.2 Limitations on Payment of Management Fee. Manager acknowledges and agrees that the Company shall not pay the Management Fee if, after such payment, the Company shall not have sufficient liquidity to pay all of its obligations, including dividends on its Series A
Preferred Stock, for the six month period after payment of such Management Fee. Manager shall not demand payment of any Management Fee to the extent payment is prohibited by the foregoing sentence, provided that, to the extent that such Management Fee payments are not made, the Company shall immediately pay Manager any accrued, but unpaid Management Fees, at such time as the prohibition is no longer applicable. This Section 2.2
shall terminate and be of no further force and effect upon termination of that certain Business Loan Agreement dated July 23, 2007 by and among UTP International, LLC, a Delaware limited liability company, David Benoit, as agent on behalf of the investors ("Investors'), the Investors and Manager.

 

 

 

 

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ARTICLE III

 

TERM AND TERMINATION

 

 3.1 Term. This Agreement shall remain in effect for a period of one (1) year from the Effective Date, and shall automatically renew at the end of such year, and each succeeding year, unless terminated by either party as provided below.

 

3.2           Termination.

 

(a) Manager may terminate this Agreement by a written notice sent to the other party not less than thirty (30) days prior to the effective date of termination.

 

(b) Notwithstanding any provisions to the contrary herein, in the event of a change of control, in any manner, in the current ownership structure of Company as of the date of this Agreement, Manager shall have the option, in its sole
discretion, to terminate this Agreement by giving ten (10) days written notice.

 

 3.3 Effect of Termination. In the event of termination of this Agreement pursuant to this Article III, Company shall pay Manager any unpaid Management Fees earned through the date of termination. Manager shall have no obligation to return any Management Fees upon
termination of this Agreement for any reason.

 

ARTICLE IV

 

INDEMNIFICATION OF MANAGER

 

Company shall indemnify Manager and its affiliates, members, directors, officers, members, managers employees and agents and hold them harmless from any and all actions, causes of action, claims, judgments, obligations and expenses, including reasonable attorney's fees actually incurred, ("Indemnification
Event") arising as a result of this Agreement, unless such Indemnification Event results from the gross negligence or willful misconduct of the parties seeking indemnification.

 

ARTICLE V

 

NONEXCLUSIVE ARRANGEMENT

 

 5.1 Similar Services. Company acknowledges and agrees that Manager may provide management services to other of its affiliates and that Manager may offer standardized services to all of such affiliates, including Company. Manager may also centralize some of the management
services to achieve efficiencies of scale or other benefits for some or all of its affiliates.

 

5.2           Other Activities of Manager; Investment Opportunities. Company acknowledges and agrees that Manager will not devote Manager's (or any employee, officer,
director, member, manager, affiliate or associate of Manager) full time and business efforts to the duties of Manager specified in this Agreement, but only so much of such time and efforts as Manager reasonably deems necessary. Company further acknowledges and agrees that Manager and its affiliates are or may be engaged in the business of investing in, acquiring and/or managing businesses for Manager's own account, for the account
of Manager's affiliates and associates and for the account of other unaffiliated parties and that no aspect or element of these activities will be deemed to be engaged in for the benefit of Company nor to constitute a conflict of interest. Manager will be required to bring only those investments and/or business opportunities to the attention of Company which Manager, in its sole discretion, deems appropriate.

 

 

 

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ARTICLE VI

 

MISCELLANEOUS PROVISIONS

 

 6.1 Notices. Any notices permitted or required to be made under this Agreement shall be in writing, signed by the person giving such notice, election, offer, acceptance, or demand and shall be delivered personally, or sent by registered or certified mail, to the party,
at its address on file with the other party or at such other address as may be supplied in writing. The date of personal delivery or the date of mailing, as the case may be, shall be the date of such notice, election, offer, acceptance, or demand.

 

 6.2 Successors and Assigns. This Agreement shall be binding on and shall inure to the benefit of the parties, their respective successors and permitted assigns. This Agreement is personal to Company and Company shall not assign this Agreement without the written consent
of Manager.

 

 6.3 Amendment. No change, modification, or amendment of this Agreement shall be valid or binding on the parties unless such change or modification shall be in writing signed by the party or parties against whom the same is sought to be enforced.

 

 6.4 Force Majeure. Manager shall have no liability for any losses arising out of delays in performing the services which it renders under this Agreement which result from events beyond its control, including without limitation, interruption of the business of Manager
due to acts of God, acts of governmental authority, acts of war, riots, civil commotions, insurrections, labor difficulties (including, but not limited to strikes and other work slippages due to slow-downs), any action or omission of any courier or utility, mechanical or other malfunction, or electronic or communications interruption.

 

 6.5 Further Assurances. Each party hereby covenants and agrees that it shall execute and deliver such other documents as may be required to implement any of the provisions of this Agreement.

 

 6.6 No Waiver; Time is of the Essence. The failure of any party to insist on strict performance of a covenant hereunder or of any obligation hereunder shall not be a waiver of such party's right to demand strict compliance therewith in the future, nor shall the same
be construed as a novation of this Agreement. Time is of the essence in this Agreement.

 

6.7           Integration. This Agreement constitutes the full and complete agreement of the parties with respect to the subject matter hereof.

 

 6.8 Applicable Law. Each Party acknowledges that this Agreement shall be governed and construed in accordance with the law of the State of New York. Any legal action or proceeding with respect to this Agreement, shall be brought in the courts of the State of New York
or of the United States of America for the Southern District of New York, and, by execution and delivery of this Agreement, each party hereby accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. The parties hereto hereby irrevocably waive any objection, including any objection to the laying of venue or based on the grounds of forum non conveniens, that any of them may now or hereafter have to the bringing of any such action or proceeding in
such respective jurisdictions.

 

 6.9 Severability. In the event any provision, clause, sentence, phrase, or word hereof, or the application thereof in any circumstances, is held to be invalid or unenforceable, such invalidity or unenforceability shall not affect the validity or enforceability of the
remainder hereof, or of the application of any such provision, sentence, clause, phrase, or word in any other circumstances.

 

6.10 Attorney's Fees. Company agrees to pay or reimburse Manager upon demand for all out-of-pocket costs and expenses, including reasonable attorneys' fees and legal costs, incurred by Manager in enforcing this Agreement or exercising or enforcing any other right or remedy
available in connection herewith or therewith.

 

6.11 Due Authorization. Company represents and warrants to Manager that the execution, delivery and performance of this Agreement by Company has been duly authorized by all necessary corporate action of Company.

 

 

[signature page follows]

 

3

 

 

IN WITNESS WHEREOF the parties have executed this Management Agreement effective on the date first written above

 

KNOX LAWRENCE INTERNATIONAL, LLC

 

By:/s/ Johnson Kachidza                                                                           

Name:__Johnson Kachidza_____________________

Title: _Managing Principal_______________________

UTILIPOINT INTERNATIONAL, INC.

 

By:/s/ Robert S. Bellemare                                                                         

Name:___Robert Bellemare_____________________

Title: ___CEO_______________________________

 

 

 

 

 

 

 

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