Document:

exv4w7

 

Exhibit 4.7

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE SOLD, OFFERED
FOR SALE, ASSIGNED, TRANSFERRED, OR OTHERWISE DISPOSED OF, UNLESS REGISTERED PURSUANT TO THE
PROVISIONS OF THE SECURITIES ACT OR AN OPINION OF COUNSEL IS OBTAINED STATING THAT SUCH DISPOSITION
IS IN COMPLIANCE WITH AN AVAILABLE EXEMPTION FROM SUCH REGISTRATION.

May 11, 2001 (Original Issue Date)

Smith & Wesson Holding Corporation

Warrant for the Purchase of Shares of Common Stock

No. RLS-1A

     For value received, this Warrant is hereby issued by Smith & Wesson Holding Corporation, a
Nevada corporation (the “Company”), to Robert L. Scott (the “Holder”). Subject to the provisions
of this Warrant, the Company hereby grants to Holder the right to purchase from the Company
5,000,000 fully paid and non-assessable shares of Common Stock (sometimes called “Warrant Stock”),
at a price of $0.89 per share (the “Exercise Price”).

     The Holder agrees with the Company that this Warrant is issued, and all the rights hereunder
shall be held, subject to all of the conditions, limitations and provisions set forth herein.

     1. Exercise of Warrant. Subject to the terms and conditions set forth herein, this Warrant
may be exercised in whole or in part, pursuant to the procedures provided below, at any time on or
before 5:00 p.m., Eastern time, on May 11, 2006, (the “Expiration Date”) or, if such day is a day
on which banking institutions in New York are authorized by law to close, then on the next
succeeding day that shall not be such a day. To exercise this Warrant, the Holder shall present
and surrender this Warrant to the Company at its principal office, with the Warrant Exercise Form
attached hereto duly executed by the Holder and accompanied by payment (either (a) in cash or by
check, payable to the order of the Company, (b) by cancellation by the Holder of indebtedness or
other obligations of the Company to the Holder, (c) by such other means as may be authorized by the
Board of Directors of the Company from time to time, or (d) by a combination of (a), (b), or (c)),
of the aggregate Exercise Price for the total aggregate number of shares for which this Warrant is
exercised. Upon receipt by the Company of this Warrant, together with the executed Warrant
Exercise Form and payment of the Exercise Price for the shares to be acquired, in proper form for
exercise, and subject to the Holder’s compliance with all requirements of this Warrant for the
exercise hereof, the Holder shall be deemed to be the holder of record of the shares of Common
Stock (or Other Securities) issuable upon such exercise, notwithstanding that the stock transfer
books of the Company shall then be closed or that certificates representing such shares of Common
Stock shall not then be actually delivered to the Holder; provided, however, that
no exercise of this Warrant shall be effective, and the Company shall have no obligation to issue
any Common Stock or Other Securities to the Holder upon any attempted exercise of this Warrant,
unless the Common Stock has been registered under the Securities Act or the Holder shall have first
delivered to the Company, in form and substance reasonably satisfactory to the Company, appropriate
representations so as to provide the Company reasonable assurances that the securities issuable
upon exercise may be issued without violation of the registration requirements of the Securities
Act and applicable state securities laws, including without limitation representations that the
exercising Holder is an “accredited investor” as defined in Regulation D under the Securities Act
and that the Holder is familiar with the Company and its business and financial condition and has
had an opportunity to ask questions and receive documents relating thereto to his reasonable
satisfaction.

8

 

     2. Reservation of Shares. The Company will at all times reserve for issuance and delivery upon
exercise of this Warrant all shares of Common Stock or other shares of capital stock of the Company
(and Other Securities) from time to time receivable upon exercise of this Warrant. All such shares
(and Other Securities) shall be duly authorized and, when issued upon such exercise, shall be
validly issued, fully paid and non-assessable, and free of all preemptive rights.

     3. Fractional Shares. No fractional shares or scrip representing fractional shares shall be
issued upon the exercise of this Warrant, but the Company shall pay the Holder an amount equal to
the Fair Market Value (as defined below) of such fractional share of Common Stock in lieu of each
fraction of a share otherwise called for upon any exercise of this Warrant.

     4. Fair Market Value. For purposes of this Warrant, the Fair Market Value of a share of
Common Stock (or Other Security) shall be determined as of any date (the “Value Date”) by the
Company’s Board of Directors in good faith; provided, however, that where there exists a public
market for the Company’s Common Stock on the Value Date, the fair market value per share shall be
either of the following:

     (a) If the Common Stock is listed on a national securities exchange or admitted to
unlisted trading privileges on such exchange or listed for trading on the NASDAQ system, the
Fair Market Value shall be the last reported sale price of the security on such exchange or
system on the last business day prior to the Value Date or if no such sale is made on such
day, the average of the closing bid and asked prices for such day on such exchange or
system; or

     (b) If the Common Stock is not so listed or so admitted to unlisted trading privileges,
the Fair Market Value shall be the mean of the last reported bid and asked prices reported
by the National Quotation Bureau, Inc. on the last business day prior to the Value Date.

     5. Assignment or Loss of Warrant. Subject to the transfer restrictions herein (including
Section 8), upon surrender of this Warrant to the Company or at the office of its stock transfer
agent, if any, with the Assignment Form annexed hereto duly executed and funds sufficient to pay
any transfer tax, the Company shall, without charge, execute and deliver a new Warrant in the name
of the assignee named in such instrument of assignment and this Warrant shall promptly be canceled.
Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction, or mutilation of this Warrant, and of reasonably satisfactory indemnification by the
Holder, and upon surrender and cancellation of this Warrant, if mutilated, the Company shall
execute and deliver a replacement Warrant of like tenor and date.

     6. Rights of the Holder. The Holder shall not, by virtue hereof, be entitled to any rights of
a stockholder in the Company, either at law or in equity, and the rights of the Holder are limited
to those expressed in this Warrant.

     7. Adjustments.

          7.1 Adjustment for Recapitalization. If the Company shall at any time subdivide its
outstanding shares of Common Stock (or Other Securities at the time receivable upon the exercise of
the Warrant) by recapitalization, reclassification, or split-up thereof, or if the Company shall
declare a stock dividend or distribute shares of Common Stock to its stockholders, the number of
shares of Common Stock (or Other Securities) subject to this Warrant immediately prior to such
subdivision shall be proportionately increased, and if the Company shall at any time combine the
outstanding shares of Common Stock by recapitalization, reclassification, or combination thereof,
the number of shares of Common Stock subject to this Warrant immediately prior to such combination
shall be proportionately decreased. Any such adjustment and adjustment to the Exercise Price
pursuant to this Section 7.1 shall be effective at the close of business on the effective date of
such subdivision or combination or if any adjustment is the result of a stock dividend or
distribution then the effective date for such adjustment based thereon shall be the record date
therefor.

Whenever the number of shares of Common Stock purchasable upon the exercise of this Warrant is
adjusted, as provided in this Section 7.1, the Exercise Price shall be adjusted to the nearest cent
by multiplying such Exercise Price immediately prior to such adjustment by a fraction (x) the
numerator of which shall be the number of shares of

9

 

Common Stock purchasable upon the exercise
immediately prior to such adjustment, and (y) the denominator of which shall be the number of
shares of Common Stock so purchasable immediately thereafter.

          7.2 Adjustment for Reorganization, Consolidation, Merger, Etc. In case of any reorganization
of the Company (or any other corporation, the securities of which are at the time receivable on the
exercise of this Warrant) after the date hereof or in case after such date the Company (or any such
other corporation) shall consolidate with or merge into another corporation or convey all or
substantially all of its assets to another corporation, then, and in each such case, the Holder of
this Warrant upon the exercise thereof as provided in Section 1 at any time after the consummation
of such reorganization, consolidation, merger, or conveyance, shall be entitled to receive, in lieu
of the securities and property receivable upon the exercise of this Warrant prior to such
consummation, the securities or property to which such Holder would have been entitled upon such
consummation if such Holder had exercised this Warrant immediately prior thereto; in each such
case, the terms of this Warrant shall be applicable to the securities or property receivable upon
the exercise of this Warrant after such consummation.

          7.3 Certificate as to Adjustments. The adjustments provided in this Section 7 shall be
interpreted and applied by the Company in such a fashion so as to reasonably preserve the
applicability and benefits of this Warrant (but not to increase or diminish the benefits
hereunder). In each case of an adjustment in the number of shares of Common Stock receivable on
the exercise of this Warrant, the Company at its expense will promptly compute such adjustment in
accordance with the terms of this Warrant and prepare a certificate executed by two executive
officers of the Company setting forth such adjustment and showing in detail the facts upon which
such adjustment is based. The Company will forthwith mail a copy of each such certificate to each
Holder.

          7.4 Notices of Record Date, Etc. In the event that:

               (a) the Company shall declare any dividend or other distribution to the holders of Common
Stock, or authorizes the granting to Common Stock holders of any right to subscribe for, purchase,
or otherwise acquire any shares of stock of any class or any other securities; or

               (b) the Company authorizes any capital reorganization of the Company, any reclassification of
the capital stock of the Company, any consolidation or merger of the Company with or into another
corporation, or any conveyance of all or substantially all of the assets of the Company to another
corporation or entity; or

               (c) the Company authorizes any voluntary or involuntary dissolution, liquidation, or winding
up of the Company,

then, and in each such case, the Company shall mail or cause to be mailed to the holder of this
Warrant at the time outstanding a notice specifying, as the case may be, (i) the date on which a
record is to be taken for the purpose of such dividend, distribution or right, and stating the
amount and character of such dividend, distribution, or right, or (ii) the date on which such
reorganization, reclassification, consolidation, merger, conveyance, dissolution, liquidation, or
winding up is to take place, and the time, if any is to be fixed, as to which the holders of record
of Common Stock (or such other securities at the time receivable upon the exercise of the Warrant)
shall be entitled to exchange their shares of Common Stock (or such Other Securities) for
securities or other property deliverable upon such reorganization, reclassification, consolidation,
merger, conveyance, dissolution, liquidation, or winding up. Such notice shall be mailed at least
20 days prior to the date therein specified.

          7.5 No Impairment. The Company will not, by any voluntary action, avoid or seek to avoid the
observance or performance of any of the terms to be observed or performed hereunder by the Company,
but will at all times in good faith assist in the carrying out of all the provisions of this
Section 8 and in the taking of all such action as may be necessary or appropriate in order to
protect the rights of the Holder of this Warrant against impairment.

     8. Transfer to Comply with the Securities Act. This Warrant and any Warrant Stock or Other
Securities may not be sold, transferred, pledged, hypothecated, or otherwise disposed of except as
follows: (a) to a person who, in the opinion of counsel to the Company, is a person to whom this
Warrant or the Warrant Stock or Other Securities may legally be transferred without registration
and without the delivery of a current prospectus

10

 

under the Securities Act with respect thereto and
then only against receipt of an agreement of such person to comply with the provisions of this
Section 8 with respect to any resale or other disposition of such securities; or (b) to any person
upon delivery of a prospectus then meeting the requirements of the Securities Act relating to such
securities and the offering thereof for such sale or disposition, and thereafter to all successive
assignees.

     9. Legend. Unless the shares of Warrant Stock or Other Securities have been registered under
the Securities Act, upon exercise of this Warrant and the issuance of any of the shares of Warrant
Stock, all certificates representing shares shall bear on the face thereof substantially the
following legend:

The securities represented by this certificate have not been
registered under the Securities Act of 1933, as amended, and may not
be sold, offered for sale, assigned, transferred or otherwise
disposed of, unless registered pursuant to the provisions of that
Act or unless an opinion of counsel to the Corporation is obtained
stating that such disposition is in compliance with an available
exemption from such registration.

     10. Notices. All notices required hereunder shall be in writing and shall be deemed given when
telegraphed, delivered personally or within two days after mailing when mailed by certified or
registered mail, return receipt requested, to the Company or the Holder, as the case may be, for
whom such notice is intended, if to the Holder, at the address of such party shown on the books of
the Company, or if to the Company, its principal executive office, Attn: President, or at such
other address of which the Company or the Holder has been advised by notice hereunder.

     11. Applicable Law. The Warrant is issued under and shall for all purposes be governed by and
construed in accordance with the laws of the state of Nevada, without regard to the conflict of
laws provisions of such state.

11

 

     IN WITNESS WHEREOF, the Company has caused this Warrant to be signed on its behalf, in its
corporate name, by its duly authorized officer, all as of the day and year first above written.

	 	 	 	 	 
	 	SMITH & WESSON HOLDING CORPORATION

 	 
	 	By:  	 	 
	 	 	 	 
	 	 	 	 

12

 

	 	 	 	 	 

WARRANT EXERCISE FORM

     The undersigned hereby irrevocably elects to (i) exercise the within Warrant to purchase
_______shares of the Common Stock of Smith & Wesson Holding Corporation, a Nevada corporation,
pursuant to the provisions of Section 1 of the attached Warrant, and hereby makes payment of
$_______in payment therefor, or (ii) exercise this Warrant for the purchase of _______shares
of Common Stock, pursuant to the provisions of Section 2 of the attached Warrant. The
undersigned’s execution of this form constitutes the undersigned’s agreement to all the terms of
the Warrant and to comply therewith.

	 	 	 	 	 
	 

	 	 	 	 
	 

	 	Signature	 	 
	 

	 	Print Name:	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	Signature, if jointly held	 	 
	 
	 	 	 	 
	 

	 	Print Name:	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	Date	 	 

13

 

ASSIGNMENT FORM

FOR VALUE RECEIVED_______(“Assignor”) hereby sells, assigns and transfers
unto _______(“Assignee”) all of Assignor’s right, title and interest in,
to and under Warrant No. W-_______issued by _______, dated _______.

DATED: _________________

	 	 	 	 	 
	 

	 	ASSIGNOR:	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	Signature	 	 
	 

	 	Print Name:	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	Signature, if jointly held	 	 
	 

	 	Print Name:	 	 
	 
	 	 	 	 
	 

	 	ASSIGNEE:	 	 

The undersigned agrees to all of the terms of the Warrant and to comply therewith.

	 	 	 	 	 
	 

	 	 	 	 
	 

	 	Signature	 	 
	 

	 	Print Name:	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	Signature, if jointly held	 	 
	 

	 	Print Name:	 	 

14Exhibit 10.1

    Exhibit
      10.1

    EMPLOYMENT
      AGREEMENT

    

    THIS
      AGREEMENT,
      dated
      effective as of January 1, 2000, is by and between Meridian Occupational
      Healthcare Associates, Inc., a Delaware business corporation (“Employer”), and
      E. Stuart Clark (“Employee”).

    

    
      	
              1.

            	
              EMPLOYMENT.
                Employer hereby employs Employee and Employee hereby accepts employment
                with Employer upon the terms and conditions set forth in this
                Agreement.

            

    

    

    
      	
              2.

            	
              TERM.
                The term of this Agreement shall commence as of the date hereof,
                and shall
                continue for a period of two (2) years (the “Term”) unless sooner
                terminated pursuant to Paragraph 6 hereof. This Agreement shall be
                automatically renewed for one (1) year periods unless at least one
                hundred
                eighty (180) days before the second and all subsequent anniversary
                dates
                of this Agreement either party gives notice in writing to the other
                of its
                election not to extend the Term.

            

    

    

    
      	
              3.

            	
              DUTIES.
                Employee shall serve as Vice President of Sales and Marketing. Employee
                agrees to devote his/her entire working time, energy and skills,
                and to
                the best of his/her ability, carry out the duties and responsibilities,
                commensurate with the foregoing title, reasonably requested of him/her.
                Notwithstanding the foregoing, Employee shall be permitted to continue
                non-competitive outside business activities such as service on charitable
                boards, corporate boards and volunteer activities, approved by the
                Board
                of Directors, its Compensation Committee or an authorized officer.
                The
                employee's services shall be based in Nashville, Tennessee, although
                reasonable business travel may be
                required.

            

    

     

    
      
        	
                4.

              	
                COMPENSATION

              

      

    

    

    (a) Annual
      Salary.
      Employee
      shall receive a salary of One Hundred Twelve Thousand ($112,000) per year
      (“Annual Salary”), payable in regular installments at such time and in such
      manner as other executive employees of Employer, but no more frequently than
      bi-weekly. The Annual Salary will be reviewed by Employer for potential upward
      adjustment at least once annually. Compensation adjustments will be based on
      the
      results of a performance appraisal due annually. Any determination to increase
      Employee’s Annual Salary shall be in the sole discretion of the Board, its
      Compensation Committee, or an authorized officer. Downward adjustment of Annual
      Salary may entitle Employee to terminate for Good Reason to the extent provided,
      and with the consequences described, in Section 6.

    

    (b) Bonuses.
      Employer
      may pay bonuses to Employee from time to time during the term of this Agreement.
      Not less than once each year, the
      Board
      of Directors, its Compensation Committee or an authorized officer will review
      whether to pay Employee a bonus based upon his or her performance during the
      applicable year, as well as Employer’s financial performance and condition.
      Payment of any such bonuses shall be in the sole and absolute discretion of
      the
      Board of Directors, its Compensation Committee or an authorized officer;
      provided that it is intended that Employee shall participate in any bonus pool
      maintained by Employer for executive employees.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (c) Commissions.
      No
      commissions will be paid to Employee with respect to any contracts entered
      into
      by Employer, any affiliate of Employer, or otherwise.

     

    
      
        	
                5.

              	
                FRINGE
                  BENEFITS

              

      

       

      (a) General.
        During
        the term hereof, Employee shall receive fringe benefits including health,
        life
        and disability insurance, pension or retirement plan participation, to the
        extent provided to executive officers of Employer generally.

    

    

    (b) Vacation.
      Employee
      shall be entitled to receive paid time off for vacation and/or sick days in
      an
      annual amount not less than the greater of four weeks per year or the amount
      provided for Employee under Employer's PTO policy as of the effective date
      of
      this Agreement. Employee shall, in his or her reasonable discretion with the
      reasonable approval of the Board, its Compensation Committee, or an authorized
      officer, and subject to the general policies and practices of Employer,
      determine the time and intervals of such vacation. Notwithstanding the first
      sentence of this paragraph, any paid vacation that has been accrued but not
      used
      as of December 31 of any year shall be deducted from the maximum amount that
      may
      accrue during the following year, so that at no time will any Employee have
      accrued more than the maximum amount set forth in the first sentence of this
      paragraph, unless such continued accrual is approved by the Board, its
      Compensation Committee, or an authorized officer.

    

    (c) Reimbursement
      for Reasonable Business Expenses.
      Employer
      shall, within its general policies and practices (including without limitation
      the requirement of reasonable documentation), reimburse Employee for reasonable
      business expenses incurred by him or her in connection with the performance
      of
      her duties pursuant to this Agreement, including, but not limited to, travel
      expenses and other reasonable business expenses.

     

    
      
        	
                6.

              	
                TERMINATION

              

      

       

    

    (a) Death.
      If
      Employee shall die during the Term, this Agreement shall terminate, except
      that
      Employee’s legal representatives shall be entitled to receive the Annual Salary
      and any accrued but unused vacation pay to the last day of the month in which
      Employee’s death occurs.

    

    (b) Disability.
      If
      Employee shall suffer permanent or long term disability during the Term, this
      Agreement shall terminate, except that Employee shall be entitled to receive
      the
      Annual Salary and any accrued but unused vacation pay to the earlier of (a)
      the
      last day of the month in which Employee first becomes eligible for reimbursement
      under any long term disability insurance policy then maintained by the Employer
      for the benefit of Employee (the "Insurance Policy"), or (b) 180 days following
      the occurrence of such permanent or long term disability. Permanent or long
      term
      disability shall be defined in the same manner as under the Insurance Policy,
      if
      any, or, if no Insurance Policy exists, shall mean such disability as shall
      prevent Employee from performing his or her duties hereunder for a period in
      excess of 90 days.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
 

    (c) Other
      Early Termination.
      Notwithstanding any other provision herein to the contrary, Employer may
      terminate Employee’s employment hereunder with cause or without cause by written
      notice to Employee at any time specifying the date of termination. If Employer
      terminates Employee without cause or if Employee terminates his or her
      employment hereunder with Good Reason as defined below, Employee shall be
      entitled to receive and Employer shall be obligated to pay, as severance: (i)
      an
      amount equal to twelve (12) months of Employee’s then current Annual Salary
      payable in monthly installments; (ii) continuation at Employer’s expense for
      twelve (12) months of group health insurance. Employee’s employment by Employer
      shall be deemed to have been terminated for cause if terminated for any of
      the
      following reasons, each of which shall be “cause” for termination of Employee’s
      employment: (i) Employee’s willful failure to comply with this Agreement or
      perform his or her duties hereunder in any material respect, provided that
      Employee shall have been given ten days' written notice of such failure and
      an
      opportunity to cure; or (ii) Employee’s commission of a material act of
      dishonesty related to performance of his or her duties or to Employer's affairs,
      or an act of fraud, embezzlement or any crime classed as a felony under
      applicable law. Employee will be deemed to have terminated his or her employment
      hereunder with Good Reason if he or she terminates his or her employment within
      thirty (30) days after: (i) a diminution in Employee’s Annual Salary of more
      than five percent (5%); (ii) Employee’s relocation by Employer to a place of
      work more than thirty (30) miles from Employee’s previous place of work, or
      (iii) a material diminution, without Employee's consent, in Employee's title
      or
      responsibilities as compared to those described in Section 3.

     

    
      
        	
                7.

              	
                RESTRICTIVE
                  COVENANTS

              

      

    

    

    (a) Confidentiality.
      Employee
      agrees to keep secret and retain in the strictest confidence, all confidential
      matters of Employer, including, without limitation, trade secrets, “know-how”,
      provider lists, customer lists, pricing policies, utilization review and quality
      management protocols, operational methods and other business affairs and plans
      of Employer and its affiliates and subsidiaries, and not to disclose such
      information to anyone outside of the Employer, except in the course of
      performing his or her duties hereunder or with Employer’s express written
      consent. Upon termination of employment with Employer, or at any time the
      Employer may so request, Employee agrees to deliver promptly to the Employer
      all
      memoranda, notes, records, manuals, and other documents (and all copies hereof)
      relating to the Employer’s business and all property associated therewith, which
      Employee may then possess or have under his or her control.

    

    (b) Non-Competition.
      Employee
      agrees that during the Term, and for a period of six (6) months after
      termination or expiration of the Term for any reason, Employee shall not serve
      as proprietor, partner, employee, stockholder, principal, agent, consultant,
      director, or officer, or in any other capacity participate, engage or have
      a
      financial or other interest in, any business which is a Direct Competitor of
      Employer. The term “Direct Competitor” as used herein shall mean any person or
      entity which is engaged in, or is about to become engaged in, the development
      or
      operation of an entity or business similar to Employer, or which provides
      services similar to those offered by Employer in any state in which Employer
      or
      any of its subsidiaries or affiliates conducts business activities or plans
      to
      conduct business activities as described above during the Term or at the time
      of
      the termination thereof. This paragraph shall not preclude Employee from
      accepting employment or otherwise establishing a consulting or financial
      relationship with a health maintenance organization, insurance company or other
      third party payer of health benefits so long as Employee is not involved in
      the
      management, development, or operation of occupational health or primary care
      facilities or programs, or other lines of business in which Employer is engaged
      at the time of termination of Employee’s employment hereunder. For purposes of
      this Paragraph, the ownership of an interest constituting not more than one
      percent (1%) of the outstanding debt or equity in a corporation whose shares
      are
      traded in a recognized stock exchange or traded in an over-the-counter market,
      even though the corporation may be a Direct Competitor, shall not be deemed
      financial interest or participation in a Direct Competitor.

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    
 

    (c) Non-Solicitation.
      Employee
      agrees that for a period of one (1) year beginning on the date of termination
      of
      Employee’s employment with Employer, for any reason, he or she shall not
      directly or indirectly, either individually or as an employee, agent, partner,
      shareholder, consultant or in any other capacity: (i) solicit or attempt to
      solicit or influence any employee of Employer or employee or physician
      independent contractor of any affiliate or subsidiary of Employer, or successor
      or assign thereof, to perform any services whatsoever for any business which
      is
      a Direct Competitor; or (ii) call upon any person or entities having business
      relationships with Employer or any of Employer’s affiliates or subsidiaries, or
      any successor or assign thereof, with a view to inducing such person or entities
      to cease doing business with Employer, its affiliates or subsidiaries, or any
      successor or assign thereof.

    

    (d) Remedies.
      If
      the
      Employee commits a breach, or threatens to commit a breach, of any of the
      provisions of this Paragraph 7, Employer’s rights and remedies shall include,
      but are not limited to, the following:

    

    
      	 	
              (i)
                

            	
              the
                right and remedy to have the provisions of this Agreement specifically
                enforced by any court of competent jurisdiction, it being acknowledged
                that any such breach or threatened breach shall cause irreparable
                injury
                to the Employer, and that money damages shall not provide an adequate
                remedy to Employer; and

            

    

     

    
      
        	 	
                (ii)

              	
                the
                  right and remedy to require Employee to account for any and pay
                  over to
                  Employer all compensation, profits, monies, accruals, or other
                  benefits
                  derived or received by him or her as a result of any transactions
                  constituting a breach of any of the provisions of this Paragraph
                  7, and
                  the Employee hereby agrees to account for and pay over such amounts
                  to
                  Employer.

              

      

    

    

    
      	 	 	
              Each
                of the rights and remedies enumerated above shall be independent
                of the
                other and shall be severally enforceable, and all such rights and
                remedies
                shall be in addition to, and not in lieu of, any other rights and
                remedies
                available to Employer under law or in
                equity.

            

    

    

    (e) Construction.
      If
      any of
      the covenants contained in this Paragraph 7, or any part thereof, hereafter
      is
      construed to be invalid or unenforceable, the same shall not affect the
      remainder of the covenant or covenants, which shall be given full effect,
      without regard to the invalid portions. If any of the covenants contained in
      this Paragraph 7, or any part thereof, is held to be unenforceable because
      of
      the duration of such provision or the areas covered thereby, the parties agree
      that the court making such determination shall have the power to reduce the
      duration and/or the area of such provision, and, in its reduced form, said
      provision shall then be enforceable.

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    
 

    
      	
              8.

            	
              WAIVER.
                The failure of either party to insist, in any one or more instances,
                upon
                the performance of the terms or conditions of this Agreement shall
                not be
                construed as a waiver or relinquishment of any right granted hereunder
                or
                of the future performance of any such term, covenant, or
                condition.

            

    

    

    
      	
              9.

            	
              INDEMNIFICATION.
                Employer
                hereby indemnifies and holds harmless Employee from any and all liability,
                loss, damage, claim or expense of any kind incurred by Employee,
                including
                costs and reasonable attorney’s fees, arising from or related to
                Employee’s good faith performance of his or her duties hereunder. The
                indemnifications of this Paragraph 9 shall survive the termination
                of this
                Agreement.

            

    

    

    
      	
              10.

            	
              NOTICES.
                All
                notices, requests, demands and other communications hereunder shall
                be in
                writing and shall be delivered personally, or by overnight delivery
                services, or sent by registered or certified mail, return receipt
                requested, first-class postage prepaid and properly addressed as
                follows:

            

    

    

    

      
        	 	
                If
                  to Employer:

              	
                Meridian
                  Occupational Healthcare Associates, Inc.

              
	 	 	
                20
                  Burton Hills Boulevard - Suite 200

              
	 	 	
                Nashville,
                  TN 37215

              
	 	 	
                Attn:
                  Human Resources Director

              

      

      
        	 	
                If
                  to Employee:

              	
                __________________________________

              
	 	 	
                __________________________________

              
	 	 	
                __________________________________

              

      

      
        	
                11.

              	
                AMENDMENT.
                  This Agreement may be amended only by an agreement in writing signed
                  by
                  the Employer and Employee.

              

      

      

      
        	
                12.

              	
                GOVERNING
                  LAW.
                  This
                  Agreement shall be governed by and construed in accordance with
                  the laws
                  of the State of Delaware.

              

      

      

      
        	
                13.

              	
                ASSIGNMENT;
                  SUCCESSORS AND ASSIGNS.
                  The
                  rights and obligations of Employee may not be delegated or assigned
                  except
                  as specifically set forth in this Agreement, and except for normal
                  and
                  customary delegations of responsibilities to subordinate officers
                  or
                  employees of Employer. This Agreement shall be binding upon and
                  inure to
                  the benefit of and shall be enforceable by employer and its respective
                  successors and assigns, and employee, his or her heirs, beneficiaries
                  and
                  legal representatives.

              

      

    

    
      
         

        

        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    
      
      

    

     

    
      
        	
                14.

              	
                ENTIRE
                  AGREEMENT.
                  This
                  Agreement contains the entire Agreement of the parties with respect
                  to
                  Employee’s employment by Employer and this Agreement supersedes any prior
                  Agreements between them, whether oral or
                  written.

              

      

       

      IN
        WITNESS WHEREOF,
        the
        parties hereto have executed this Agreement effective as of January 1,
        2000.

    

    MERIDIAN
      OCCUPATIONAL HEALTHCARE ASSOCIATES, INC.

    

    

    

      
        	
                By:
                  

              	
                /s/
                  Shannon Wolcott 

              
	 	 
	 	 
	
                Date:
                  

              	
                1-21-2000

              
	 	 
	 	 
	 	 
	 	 
	 	 
	
                Employee:

              	
                E.
                  Stuart Clark

              
	 	
                (print)

              
	 	 
	
                /s/
                  E. Stuart
                  Clark                  

              
	 	
                (signature)

              

      

    

    

    6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00089-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00089-of-00352.parquet"}]]