Exhibit 10.27
October 1, 1997
▇▇▇▇▇▇ ▇▇▇▇▇▇▇
President/CEO
Personal Medical Records Inc.
▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇.
▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Dear Don,
This letter shall reduce to writing the agreement between Personal Medical
Records, Inc. (PMRi) and ▇▇▇▇ ▇. ▇▇▇▇▇▇▇ (▇▇▇▇▇▇▇).
1. TERM OF AGREEMENT: THREE YEARS.
October 1997 through September 30, 2000.
2. SERVICES TO BE RENDERED:
▇. ▇▇▇▇▇▇▇ shall be a Director and Vice Chairman of the Board of PMRi
b. Coordinate Development of Disease Management Strategy
c. Coordinate Network/ Cable Medical Media Strategies
d. Develop and Manage Health/ Medical Video/ Film Library
+ Liaison with filmmakers /producers/ distributors
e. Act as PMRi liaison with the American Medical Association
f. Chair Board Committees:
+ Compensation Committee
+ Audit Committee
+ And others as agreed upon
g. Interface with PMRi Marketing Department; review all marketing materials
(print to video)
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h. Propose Candidates for and Develop PMRi National Advisory Board (non-
fiduciary directors)
i. Act as primary PMRi liaison with Director's Koop and ▇▇▇▇▇▇▇▇▇
j. Other services as requested by PMRi's Board and management and which
services are mutually agreed upon.
3. COMPENSATION:
a. For services rendered, consulting fees shall be as follows:
Year One:
October 1, 1997 - September 30,1998 $100,000
Payable monthly as follows:
October, 1997 - August, 1998 $8333.33
September, 1998 $8333.37
Compensation for Year One of this Agreement may be in the form of
additional stock options granted to Zacarro, and/or cash. The parties
must mutually agree on the settlement of payment for services rendered
during Year One of this Agreement.
Year Two:
October 1, 1998 - September 30, 1999 $135,000
Payable monthly as follows:
October, 1998 - September, 1999 $11, 250
Year Three:
October 1, 1999 - September 30, 2000 $150,000
Payable monthly as follows:
October, 1997 - September, 1998 $12,500
Monthly fees will be paid from this agreement; no invoice will be sent.
Payment will be made to ▇▇▇▇ ▇. ▇▇▇▇▇▇▇ and mailed to:
▇▇▇▇ ▇. ▇▇▇▇▇▇▇
▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
4. EXPENSES: Travel and lodging expenses shall be reimbursed monthly; ▇▇▇▇▇▇▇
shall provide receipts for all expenses when available and will use PMRi
expense account forms or other acceptable forms; expenses shall be submitted
to and approved by ▇▇▇ ▇▇▇▇▇▇▇.
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5. This agreement constitutes the entire agreement between the parties and
supersedes any and all previous agreements written or oral.
6. This agreement shall be construed under the laws of the State of Texas.
Agreed To and Accepted By:
\s\ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇ Date October 1, 1997
------------------------------ -----------------------------------
▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Agreed To and Accepted By:
For PMRi:
\s\ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Date October 2, 1997
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▇▇▇▇▇▇ ▇▇▇▇▇▇▇
President/CEO, PMRi
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