Exhibit 10.12
▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ▇▇
▇▇▇▇▇▇▇ CAPITAL ADVISORS
▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
▇▇▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇▇ Arena June 14, 2003
Chief Executive Officer, President
Medex, Inc.
▇▇▇▇ ▇▇▇▇▇-▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇-1295
Dear ▇▇▇▇▇▇▇▇:
This letter confirms our conversation and mutual agreement for Medex, Inc.
(Medex) to engage ▇▇▇▇▇▇▇ Capital Advisors (GCA), and GCA to accept such
engagement, to provide general business consulting services to Medex, Inc. Medex
and GCA work together to determine the services required and how they will be
delivered.
The consideration to be paid is an annual retainer of $150,000 payable in
quarterly installments on the first day of the month of each calendar quarter.
The first payment of $37,500 to be made on July 1, 2003. The wire transfer
information is attached. The agreement will be for three years commencing
July 1, 2003 and ending June 30, 2006, unless extended by mutual agreement. This
agreement will be cancelable at ay time, by either party, with 90 days written
notice.
▇▇▇▇▇▇▇▇, I am excited about the opportunities that exist for Medex and look
forward to working with you and your team to build a successful and valuable
company. Please sign and return a copy of this letter for our records.
Sincerely,
/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ▇▇▇
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▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ▇▇▇
Managing Partner
▇▇▇▇▇▇▇ Capital Advisors
▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Accepted by:
/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ▇▇▇ /s/ ▇▇▇▇▇▇▇▇ Arena
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▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ III ▇▇▇▇▇▇▇▇ Arena
Managing Partner President and Chief Executive Officer
▇▇▇▇▇▇▇ Capital Advisors Medex, Inc.