Asset Purchase Agreement Closing Date Extension Letter between Practicare Medical Management, Inc. and Ultimate Medical Management, Inc.
This letter agreement extends the closing date for the Asset Purchase Agreement between Practicare Medical Management, Inc. and Ultimate Medical Management, Inc. to July 31, 2014. Both parties agree to negotiate in good faith an additional agreement regarding the calculation of Seller’s Revenue, allowing Practicare to benefit from certain revenues and to elect to receive any excess revenue in cash. The extension is effective upon countersignature by both parties.
Exhibit 2.9
Stephen A. Snyder
President
June 13, 2014
James Antonacci, Jr.
Practicare Medical Management, Inc.
4567 Crossroads Park Drive
Liverpool, NY 13088
Re: Closing Date Extension
Dear Mr. Antonacci:
Please allow this letter to memorialize the extension of the deadline for closing to July 31, 2014 as set out in Sections 8.1 (c), (d) of the Asset Purchase Agreement (“APA”) dated August 23, 2013. If this is acceptable, please countersign and return to my attention.
Thank you for your attention to this matter.
Sincerely,
/s/ Stephen A. Snyder
Stephen A. Snyder
| Practicare Medical Management, Inc., | Ultimate Medical Management, Inc., |
| a New York Corporation | a New York Corporation |
| By: | /s/ James N. Antonacci, Jr. | By: | /s/ James N. Antonacci, Jr. |
James N. Antonacci, Jr.,
an Individual
| By: | /s/ James N. Antonacci, Jr. |
* The parties agree that the APA shall be subject to an agreement, to be negotiated in good faith, allowing Practicare to benefit through the calculation of the Seller’s Revenue from revenues generated from former clients during the subject tailing 4 quarters to the extent such are reasonably anticipated to be offset by increased revenues from existing or new clients as of the Closing Date and/or allow Practicare to elect to take any “Excess Revenue Amount” in cash.
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