Document:

Unassociated Document

Exhibit 10.9

 

Software Assignment Agreement

THIS SOFTWARE ASSIGNMENT AGREEMENT (this “Agreement”) is made and entered into as of this 1 day of August, 2012 (the “Effective Date”) by and between BimSym eBusiness Solutions, Inc. (“BIMSYM”), a corporation registered under the laws of the State of Pennsylvania with its primary offices located at 3466 Progress Dr. Suite # 115, Bensalem, PA 19020 and Health Plan Intermediaries, LLC, d/b/a Health Insurance Innovations (“HIIQUOTE”), a limited liability company organized under the laws of the State of Florida, with its primary offices located at 15438 N Florida Ave, Suite 200, Tampa, FL 33613.  BIMSYM and HIIQUOTE may be referred to within this Agreement each individually as a “Party” or collectively as the “Parties.”

WHEREAS, BIMSYM has developed the ARIES System (as defined below) on behalf of HIIQUOTE, and the Parties desire to confirm HIIQUOTE’s exclusive ownership of all right, title and interest in and to the ARIES System.

NOW, THEREFORE, in consideration of the promises and mutual covenants set forth herein, and intending to be legally bound, the Parties hereby agree as follows:

	
1.

	
Definitions

	 	
1.1  

	
“Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with such other Person.  For purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise, and the terms “controlling” and “controlled” have correlative meanings.

	 	
1.2  

	
“Applicable Law” means, with respect to any Person, any transnational, domestic or foreign federal, provincial, state or local law (statutory, common or otherwise), constitution, directive, treaty, convention, ordinance, code, rule, regulation, order, injunction, judgment, decree, ruling, writ, stipulation, determination, award or other similar requirement enacted, adopted, promulgated, applied or entered by a Governmental Authority that is binding upon or applicable to such Person, as amended unless expressly specified otherwise.

	 	
1.3  

	
“ARIES System” means (a) the scalable and custom tailored web-based insurance agency management software solution developed by BIMSYM on behalf of HIIQUOTE (including in source code and object code form) and all modifications, additions, modules, corrections (including error corrections and bug fixes), upgrades, updates, improvements, enhancements, new releases, and new versions thereto and all derivative works based thereon; (b) any other software (including in source code and object code form) constituting a 

 

  

  

  

 

part of the system referred to by the Parties as the Automated Real-Time Integrated E-System (A.R.I.E.S.); (c) all manuals, documentation and other materials relating to any of the foregoing; and (d) all Intellectual Property Rights embodied in any of the foregoing, in the case of clauses (a), (b), (c) and (d), as and when created, including on, prior to, or after the date hereof.

 

	 	
1.4  

	
“Business Day” means a day, other than Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by Applicable Law to close.

	 	
1.5  

	
“Governmental Authority” means any transnational, domestic or foreign federal, provincial, state or local governmental, regulatory or administrative authority, department, court, agency or official, including any political subdivision thereof.

	 	
1.6  

	
“Intellectual Property Rights” means copyrights (including rights in software), patents, trademarks, trade names, service marks, business names (including internet domain names), design rights, database rights, rights in undisclosed or confidential information (such as know-how, proprietary ideas, trade secrets, techniques, methods, specifications, inventions (whether patentable or not) and the like) and all other intellectual property or similar proprietary rights of whatever nature (whether registered or not and including applications to register or rights to apply for registration) which may now or in the future subsist anywhere in the world.

	 	
1.7  

	
“MSA” means that certain Master Services Agreement by and between the Parties dated as of the date hereof.

	 	
1.8

	
“Person” means an individual, corporation, partnership, limited liability company, association, trust or other entity or organization, including a Governmental Authority.

	 	
1.9  

	
“Representatives” of a Party means the officers, directors, employees, agents and subcontractors (and their employees) of such Party.

	 	
1.10

	
Other Definitional and Interpretative Provisions.  The words “hereof”, “herein” and “hereunder” and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.  The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof.  References to Articles and Sections are to Articles and Sections of this Agreement unless otherwise specified. Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular.  Whenever the words “include”, “includes” or “including” are used in 

 

  

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this Agreement, they shall be deemed to be followed by the words “without limitation”, whether or not they are in fact followed by those words or words of like import.  “Writing”, “written” and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form.  References to any statute shall be deemed to refer to such statute as amended from time to time and to any rules or regulations promulgated thereunder.  References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof.  References to any Person include the successors and permitted assigns of that Person.  References from or through any date mean, unless otherwise specified, from and including or through and including, respectively.  References to “law”, “laws” or to a particular statute or law shall be deemed also to include any and all Applicable Law.  All amounts due hereunder shall be payable in funds denominated in U.S. dollars.

 

	
2.

	
Ownership of the ARIES System

	 	
2.1  

	
Ownership. BIMSYM acknowledges and agrees that HIIQUOTE shall have exclusive title and ownership rights, including all Intellectual Property Rights, throughout the world in and to the ARIES System.  To the extent that exclusive title and/or ownership rights in the ARIES System may not originally vest in HIIQUOTE as contemplated herein, BIMSYM hereby irrevocably assigns all right, title and interest, including all Intellectual Property Rights and ownership rights, it may now or hereafter possess in the ARIES System to HIIQUOTE, and BIMSYM shall cause its Representatives and Affiliates to irrevocably assign to BIMSYM all such rights in the ARIES System so that BIMSYM can assign such rights in the ARIES System to HIIQUOTE as set forth herein.  Without limiting the foregoing, BIMSYM agrees, and will cause its Representatives and Affiliates to agree, that with respect to any aspect of the ARIES System that may qualify as a Work Made for Hire as defined in 17 U.S.C. § 101, such aspect of the ARIES System is and shall be deemed a Work Made for Hire and HIIQUOTE will have the sole right to the copyright thereto (or, in the event that any such aspect of the ARIES System does not qualify as a Work Made for Hire, the copyright and all other rights thereto shall be assigned as set forth above).

	 	
2.2  

	
Further Assurances.  BIMSYM shall, and shall cause its Representatives and Affiliates to, execute all documents and take all actions that may be necessary to confirm, perfect, record or register HIIQUOTE’s right, title and interest in and to the ARIES System throughout the world.

	 	
2.3  

	
Delivery.  The Parties acknowledge and agree that the ARIES System shall be delivered pursuant to the terms and conditions of Article 3 of the MSA.

 

  

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3.  

	
Intellectual Property Enforcement

	 	
3.1  

	
For the avoidance of doubt, HIIQUOTE has the sole right to initiate proceedings or otherwise take action with respect to any use of the ARIES System that violates HIIQUOTE’s rights to the ARIES System, and BIMSYM shall cooperate with HIIQUOTE in order to enable HIIQUOTE to take such action itself, including lending its name to such proceedings and providing reasonable assistance; provided that HIIQUOTE shall reimburse BIMSYM for all reasonable costs and expenses incurred by BIMSYM in bringing such proceedings and/or taking such actions.

	
4.

	
Fee

	 	
4.1  

	
As consideration for the development of the ARIES System, HIIQUOTE shall make a one-time payment of Forty-Five Thousand U.S. Dollars ($45,000) to BIMSYM within five (5) Business Days after the Effective Date.  No other fees or payments are payable by HIIQUOTE in respect of this Agreement.  For the avoidance of doubt, BIMSYM will be solely responsible for and HIIQUOTE will not owe any applicable sales or use tax. All fees or payments stated herein are deemed inclusive of all forms and types of taxes in any and all jurisdictions. In no event shall HIIQUOTE owe any taxes attributable to BIMSYM’s income.

	
5.  

	
Representations and Warranties

	 	
5.1  

	
Mutual Representations and Warranties.  Each Party represents and warrants to the other Party that: (a) it is duly organized, validly existing and in good standing under its jurisdiction of organization and has the right to enter into this Agreement; and (b) the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby are within the corporate powers of such Party and have been duly authorized by all necessary corporate action on the part of such Party, and constitute a valid and binding agreement of such Party.

	 	
5.2  

	
BIMSYM’s Representations and Warranties.  BIMSYM represents, warrants and covenants to HIIQUOTE that:

	 	
5.2.1  

	
there is no pending litigation against BIMSYM which could materially impact its ability to perform its obligations under this Agreement;

	 	
5.2.2  

	
the ARIES System is free from material defects that could cause such ARIES System to malfunction or fail to perform substantially in conformance with the associated documentation (and any other 

 

  

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specifications agreed to by the Parties, including prior to the Effective Date);

 

	 	
5.2.3  

	
the ARIES System does not contain any “viruses” or “worms”, “time bombs,” “time locks,” or “drop dead” devices, “lockups,” “traps,” “access codes,” or “trap door” devices, or any other similar harmful, malicious or hidden procedures, routines or mechanisms which would cause the ARIES System to cease functioning in conformance with the associated documentation (or any specifications agreed to by the Parties, including prior to the Effective Date) or to damage or corrupt any data, storage media, programs, equipment or communications, or otherwise interfere with the operations of any Person;

	 	
5.2.4  

	
it has all rights, titles, licenses, Intellectual Property Rights, permissions and approvals necessary in connection with its performance under this Agreement;

	 	
5.2.5  

	
neither the ARIES System nor the provision or utilization of the ARIES System infringes, misappropriates, or otherwise violates or interferes with any Intellectual Property Rights or contractual rights of any Person, including those rights under copyright, trademark, trade secret or patent law;

	 	
5.2.6  

	
the ARIES System does not contain any open source code such that any use of the ARIES System by HIIQUOTE would (a) require any source code contained in the ARIES System to be disclosed or distributed in source code form or made available to third parties at no charge or (b) otherwise result in an adverse effect on HIIQUOTE;

	 	
5.2.7  

	
as of the creation of the ARIES System, HIIQUOTE will own all right, title and interest in and to the ARIES System, including all Intellectual Property Rights therein; and

	 	
5.2.8  

	
no Person other than HIIQUOTE possesses any current or contingent rights to any source code that is part of the ARIES System.

	
6.  

	
Miscellaneous

	 	
6.1  

	
Notices.  All notices, requests and other communications to any Party hereunder shall be in writing (including facsimile transmission and electronic mail (“e-mail”) transmission, so long as a receipt of such e-mail is requested and received) and shall be given,

if to HIIQUOTE, to:

 

  

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Health Insurance Innovations

Attn: Mike Kosloske

218 East Bearss Ave., Ste. 325

Tampa, FL 33613

Facsimile: 877-376-5832

e-mail: mkosloske@hiiquote.com

if to BIMSYM, to:

BIMSYM eBusiness Solutions, Inc:

Att: Rajesh Patel

3466 Progress Dr. Suite # 115

Bensalem, PA 19020

Facsimile: 215-639-2829

e-mail: patelrn@bimsym.com

or such other address or facsimile number as such Party may hereafter specify for the purpose by notice to the other Party.  All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. in the place of receipt and such day is a Business Day in the place of receipt.  Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding Business Day in the place of receipt.

	 	
6.2  

	
Confidentiality. The ARIES System and the terms and conditions of this Agreement shall be deemed to constitute Confidential Information (as defined in the MSA) and the terms and conditions of Article 10 of the MSA shall apply with respect to the ARIES System and the terms and conditions of this Agreement mutatis mutandis.

	 	
6.3  

	
Amendment and Waiver.  Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by each Party, or in the case of a waiver, by the Party against whom the waiver is to be effective.  No failure or delay by any Party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.  The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by Applicable Law.

 

  

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6.4  

	
Entire Agreement; No Third Party Beneficiaries.  This Agreement and the MSA constitute the entire agreement between the Parties with respect to the subject matter hereof and thereof, and supersede all prior agreements, whether written or oral, with respect to the subject matter hereof and thereof.  No provision of this Agreement is intended to confer any rights, benefits, remedies, obligations, or liabilities hereunder upon any Person other than the Parties and their respective successors and assigns.

	 	
6.5  

	
Successors and Assigns.  The provisions of this Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns.

	 	
6.6  

	
Governing Law and Jurisdiction.  This Agreement shall be deemed to be made and performed in, and shall be governed by and construed in accordance with the laws of the state of Florida of the United States of America without regard to conflicts of laws.  Any dispute or claim, concerning, arising from, or in connection with this Agreement shall be brought in the state and federal courts located in the Hillsborough County, Florida to the exclusion of all other courts.  Each of the Parties irrevocably consents to the jurisdiction and venue of the foregoing court(s).  Process in any such suit, action or proceeding may be served on any Party anywhere in the world, whether within or without the jurisdiction of any such court.  Without limiting the foregoing, each Party agrees that service of process on such Party as provided in Section 6.1 shall be deemed effective service of process on such Party.

	 	
6.7  

	
WAIVER OF JURY TRIAL.  EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT.

	 	
6.8  

	
Relationship of the Parties.  The Parties are independent contractors and nothing in this Agreement shall be construed as establishing any relationship of a partnership, joint venture, joint employer, franchise, or agency between the Parties.  Each Party shall bear its respective costs related to this Agreement, including the fees and expenses of its advisors and counsel.  This Agreement shall be construed without regard to the identity of the Person who drafted the various provisions hereof.  Each and every provision of this Agreement shall be construed as though the Parties participated equally in the drafting of the same.  Consequently, the Parties acknowledge and agree that any rule of construction that a document is to be construed against the drafting party shall not be applicable to this Agreement.

 

  

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6.9  

	
Specific Performance.  The Parties acknowledge that money damages are not an adequate remedy for any violation of this Agreement and that either Party shall be entitled to an injunction or injunctions to prevent breaches of this Agreement or to enforce specifically the performance of this Agreement in addition to any other remedy to which such other Party is entitled at law or in equity in accordance with the terms and conditions set forth in this Agreement.  The Parties further acknowledge and agree that no Party shall be required to post any bond, guaranty or other surety in order to obtain any such injunction or specific performance.

	 	
6.10  

	
Severability.  If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party.  Upon such a determination, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.

	 	
6.11  

	
Counterparts.  This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.

[Signature page follows]

 

 

  

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IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

 

	Health Plan Intermediaries, LLC	 	BIMSYM EBUSINESS SOLUTIONS, INC.	 
	 	 	 	 
	 	 	 	 
	By: 	/s/ Mike Kosloske	 	By:	/s/ Rajesh Patel	 
	
Printed Name: Mike Kosloske

Title:  President

Health Plan Intermediaries, LLC 

	 	
Printed Name: Rajesh Patel

Title:  Vice President, Development

BimSym eBusiness Solutions, Inc.

	 

 

[Signature page to Software Assignment Agreement]

 

 

 

9Unassociated Document

 

Exhibit 10.16

 

EMPLOYMENT AND NON-COMPETE AGREEMENT

 

THIS EMPLOYMENT AND NON-COMPETE AGREEMENT (hereinafter “Agreement”), is made and entered into as of this 17 day of November 2010, (“Effective Date”) by and between Health Plan Intermediaries, LLC, dba Health Insurance Innovations (collectively, the “Company”) and Gary Raeckers (hereinafter called “Employee”).

 

WHEREAS, the Employer desires to employ Employee, and Employee desires to be employed by the Employer.

 

NOW THEREFORE, in consideration of Employee’s employment with the Company and the mutual covenants and promises set forth in this Agreement, and INTENDING TO BE LEGALLY BOUND, the parties agree to the following terms and conditions:

 

1.                 EMPLOYMENT

 

(a)           Position and Duties.  Employee is employed in the position of Chief Operating Officer and Vice President of Finance, reporting to the President of the Company, commencing on the Effective Date, and shall have such job duties as are assigned to Employee by Employer from time to time.  Employer may change, modify or alter Employee’s job title, duties and responsibilities as determined by the Company’s business needs, in Employer’s sole discretion.  Employee accepts such employment, and agrees to devote Employee’s full-time and best efforts to perform the duties assigned to Employee by Employer in a diligent, loyal, faithful, timely, complete and professional manner and in conformity with all federal and state statutes, regulations and rules applicable to Employer.  Employee further agrees to fully cooperate with all officers and other employees of Employer in the performance of Employee’s job duties.

 

(b)           Term.  This Agreement becomes effective on the Effective Date and shall govern the employment relationship between the parties until this Agreement or Employee’s employment with the Company is terminated.

 

2.                 TERMINATION

 

Employee is employed AT-WILL, which means that either party may terminate the employment relationship and this Agreement at any time and for any reason with or without cause.  Employment shall automatically terminate upon the death of Employee.

 

3.                 COMPENSATION

 

Employer shall pay Employee an initial base salary of $125,000 per year, or $10,416.67 monthly.  Employer may review and adjust Employee’s salary on a periodic basis, in the Employer’s sole and absolute discretion.  Employee shall receive fringe benefits as are provided from time to time by Employer.

 

4.                 PROPRIETARY AND CONFIDENTIAL INFORMATION

 

Employee is employed in a position of confidence and in trust and will have access to Employer’s information of a confidential, proprietary or secret nature (collectively 

 

  

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“Confidential Information”), the disclosure or unauthorized use of which would cause Employer to suffer substantial and irreparable harm.  Thus, unless Employee first obtains Employer’s written consent, Employee shall not, directly or indirectly, disclose or use at any time either during or after employment with Employer, any Confidential Information, whether or not any such information is developed by Employee, except to the extent such disclosure or use is required in the performance of the duties assigned to Employee by Employer.  Employee shall follow all procedures established by Employer to safeguard Confidential Information and to protect it against disclosure, misuse, espionage, loss or theft.  “Confidential Information” shall mean information that is used, developed, or obtained by Employer relating to its business and /or the businesses of its clients or customers including, but not limited to: the trade secrets of the Employer; products or services; standard proposal; standard submission; standard survey and analysis; Commercial Lines Quality Assurance Manual; Claims Services Department Procedures and Quality Assurance Manual; Surety Quality Assurance Manual; policy forms; fees, costs and pricing structures; marketing information; advertising and pricing strategies; analyses; reports; computer software, including operating systems, applications and program listings; flow charts; manuals and documentation; data bases; all copyrightable works; Employer’s existing and prospective clients and customers, their addresses or other contact information and/or their confidential information; existing and prospective client and customer lists and other data related thereto; expiration periods; policy numbers; coverage specifications; daily reports and related correspondence; premium renewal notices; and all similar and related information in whatever form.

 

5.                 COMPANY PROPERTY

 

(a)           All documents and other materials made, compiled by or made available to Employee during the course of Employee’s employment and any copies thereof, whether or not they contain Confidential Information, are and shall be the exclusive property of Employer and shall be delivered to Employer by Employee immediately upon the termination of Employee’s employment.

 

(b)           All ideas, reports, inventions, improvements, discoveries, formulas and other creative works made or developed by Employee during the period of Employee’s employment with Employer and relating to any business in which Employer does or shall engage during such period, shall promptly be disclosed to Employer and shall be the sole property of Employer.  Employee hereby assigns and transfers to Employer all of his right, title and interest in and to any such ideas, reports, inventions, improvements, discoveries, formulas and other creative works, and agrees, upon the request of Employer, to execute and deliver to Employer all documents and to do all other acts that, in the opinion of Employer, are necessary or desirable to secure to Employer, its successors, assigns or nominees, all right, title and interest in and to any such ideas, reports, inventions, improvements, discoveries, formulas or other creative works, including but not limited to, applications for letters patent issued by the United States or any other country.

 

6.                 NO SOLICITATION OR INTERFERENCE

 

Employee agrees that during Employee’s employment with Employer and for a period of one (1) year after termination of employment (whether voluntary or involuntary and regardless of the reason for termination):

 

  

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(a)           Employee shall not in any way, for Employee’s own account, or for the account of any person, firm, corporation, organization or entity, other than Employer, directly or indirectly through others, with respect to any service being offered by Employer and/or with respect to any line of insurance being provided by Employer, sell to, solicit, contact, serve, cater to or accept any business from any person, firm, corporation, organization or other entity that is a customer or prospective customer (as defined below) of Employer;

 

(b)           Employee shall not directly or indirectly contact, solicit, entice, induce, persuade, attempt to persuade or otherwise cause any customer or prospective customer or employee of Employer to terminate, reduce or diminish his, her or its relationship with Employer, to refrain from doing business with or rendering services to Employer, or do any act that may interfere with or result in an impairment of or adverse change to the relationship between Employer and its customer, prospective customer or employee; and

 

(c)           Employee shall not directly or indirectly solicit, retain, hire or employ any individual as an agent, contractor or employee if the individual was an employee of Employer within the one (1) year period immediately prior to Employee’s termination of employment with Employer.

 

For the purpose of this paragraph 6, a “customer or prospective customer” includes any person, firm, corporation, organization or other entity to whom, Employer or Employer’s affiliate has provided services, for whom an insurance contract has been in effect through or as a result of the services of Employer or Employer’s affiliate, or whom the Employer or Employer’s affiliate had actively solicited for the purpose of providing services or writing future insurance contracts, at any time during Employee’s employment with the Employer.  “Actively solicited” shall mean that any producer of Employer or Employer’s affiliate entertained, conducted one or more site visits, or prepared a survey & analysis, underwriting submission or risk assessment (whether prepared by the individual or by others for the individual) during the period of Employee’s employment with Employer.  “Employer’s affiliate” is defined as and shall include any entity in which a controlling interest is held, individually or collectively, directly or indirectly, by Matthew Naylor, Russell Naylor, William Naylor or Christopher Naylor, at any time during the period of Employee’s employment with Employer.

 

7.                 REASONABLENESS OF RESTRICTIONS

 

Employee agrees and acknowledges that the type and scope of restrictions described in paragraphs 4, 5 and 6 are fair and reasonable and that the restrictions are intended to protect the legitimate business interests of Employer, including but not limited to Employer’s confidential business information, substantial customer relationships, customer goodwill and specialized training, and not to prevent Employee from earning a living.  Employee represents and warrants that the knowledge, ability and skill Employee currently possesses are sufficient to enable Employee to earn a livelihood satisfactory to Employee, in the event Employee’s employment with Employer terminates, without violating any restriction in this Agreement.  If, however, any of the restrictions set forth in paragraphs 4, 5 and 6 are held invalid by a court by reason of length of time, area covered, activity covered or any or all of them, then such restriction or restrictions shall be reduced only to the extent necessary to cure such invalidity.

 

  

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8.                 REMEDIES

 

Employee agrees and acknowledges that a breach on the part of Employee of the covenants contained in paragraphs 4, 5 or 6 will cause irreparable harm to Employer and that damages arising out of such breach may be difficult to determine.  Employee, therefore, further agrees that in addition to all other remedies provided at law or at equity, Employer shall be entitled as a matter of course to specific performance and temporary and permanent injunctive relief, upon the posting of not more than a nominal bond, from any court of competent jurisdiction restraining any further breach of any such covenant by Employee, his employers, employees, partners, agents or other associates, or any of them, without the necessity of proving actual damage to Employer by reason of any such breach.  If Employer prevails in any suit under this Agreement, Employee will reimburse Employer for its expenses incurred in connection with such a suit, including attorneys’ fees and costs.  For purposes of this Agreement, Employer shall be considered to have prevailed if it is successful in enforcing, in whole or in part, any of the provisions of this Agreement against Employee either as written or if modified as provided in paragraph 7.  In addition, the period of the restriction specified in paragraph 6 above shall cease to run during the continuance of any violation of paragraph 6 and any portion of the period remaining at the commencement of any such violation will begin to run again only upon the full cure of the violation.

 

Employee further agrees and acknowledges that in addition to any injunctive relief and recovery of attorneys’ fees and costs as set forth above and because the exact amount of damage suffered by Employer in the event of a violation by Employee of any of the restrictions set forth in paragraphs 4, 5 or 6 may be difficult to calculate, Employee shall be liable to Employer in an amount of not less than $10,000 for each violation, unless Employer’s calculable damages are proven and awarded in an amount greater than $10,000, in which case Employee shall be liable for the greater amount.  Employer and Employee agree that this provision is fair and equitable and that the amounts set forth above are reasonable under the circumstances.  The existence of any claim or cause of action of Employee against Employer of whatever nature shall not constitute a defense to the enforcement by the Employer of the covenants set forth in paragraphs 4, 5 or 6 of this Agreement.

 

9.                 ASSIGNMENT

 

Employer may assign this Agreement and any of the rights or obligations hereunder to any third party in connection with the sale, merger, consolidation, reorganization, liquidation or transfer, in whole or in part, of Employer’s control and/or ownership of its assets or business.  In such event, Employee continues to be bound by the terms of this Agreement.  An assignment of this Agreement by Employee or any right or obligation hereunder is strictly prohibited.

 

10.                 NOTICES

 

Any notice to either party relating to this Agreement shall be in writing and given by hand delivery in person or sent by United States Certified Mail, Return Receipt Requested, postage prepaid, addressed to Employer to Matthew Naylor, 191 Sheree Boulevard, Second Floor, Exton, Pennsylvania 19341, and in the case of Employee, to the home address appearing on the records of the Employer or such other address as either party may designate to the other party in the manner above provided.

 

  

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11.                 NEW EMPLOYMENT

 

Employee shall notify, in writing, any prospective employer, partner, business associate or other entity with whom or which Employee is seeking employment, a partnership, or other business association, whether as an employee, a contractor or otherwise, of the restrictions in this Agreement.

 

12.                 GOVERNING LAW, JURISDICTION, AND VENUE

 

This Agreement shall be subject to and be governed by the laws of the State of Florida, without giving effect to the principles of conflicts of law under Florida law irrespective of the fact that the parties now or at any time may be residents of or engaged in activities in a different state.  Employee agrees that in the event of any dispute or claim arising under this Agreement, jurisdiction and venue shall be vested and proper, and Employee hereby consents to the jurisdiction of any court sitting in the State of Florida, including a federal district court.

 

13.                 INVALIDITY

 

Subject to paragraph 7 above, any provision herein which in any way contravenes the applicable laws of any country, state or jurisdiction shall be severed from this Agreement and deemed not to be considered part of this Agreement and this Agreement shall not be invalid as a whole because of any such determination.

 

14.                 INDULGENCE

 

No indulgence extended by either party hereto to the other party shall be construed as a waiver of any breach on the part of such other party, nor shall any waiver of one breach be construed as a waiver of any rights or remedies with respect to any subsequent breach.

 

15.                 ENTIRE AGREEMENT AND CHANGES TO BE IN WRITING

 

This Agreement contains the entire integrated agreement between the parties with respect to its subject matter.  Any changes to this Agreement, in order to be effective, shall be reduced to writing and signed by the parties hereto.

 

16.                 UNDERSTANDING OF EMPLOYEE

 

Employee agrees and acknowledges that Employee has read this Agreement in its entirety, that Employee understands it and that Employee has entered into it voluntarily.

 

 

[Signature Page Follows]

 

  

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IN WITNESS WHEREOF, the parties intending to be legally bound have executed this Agreement the day and year first above written.

 

	
ATTEST:

	  	 	
HEALTH PLAN INTERMEDIARIES, LLC

 

 

	  	  	By:	/s/ Michael Kosloske
	 	 	 	 
	
Name:

	  	Name: 	
Michael Kosloske, President

	  	  	 	  

 

WITNESS:

 

	  	  	 	/s/ Gary Raeckers
	
Name:

	  	Name:	
Gary Raeckers

 

	 	 	Address: 	

10117 Woodsong Way

Tampa, FL 33618

 

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