Service Agreement Between Omega Healthcare Investors, Inc. and Omega Worldwide, Inc. (July 1, 2000)

Summary

Omega Healthcare Investors, Inc. (OHI) agrees to provide Omega Worldwide, Inc. (OWWI) with furnished office space, information technology support, and various administrative services at OHI's Ann Arbor, Michigan office. OWWI will pay OHI $37,500 per quarter for these services. The agreement lasts for one year and can be renewed annually by OWWI or terminated at the end of any quarter with proper notice. Both parties agree to keep exchanged confidential information private, with certain exceptions.

EX-10.15 2 k59229ex10-15.txt SERVICE AGREEMENT BET. COMPANY & OMEGA HEALTHCARE 1 EXHIBIT 10.15 As of July 1, 2000 Omega Healthcare Investors, Inc. 900 Victors Way, Suite 350 Ann Arbor, Michigan 48108 Attention: Susan Allene Kovach RE: PROVISION OF SERVICES Dear Ms. Kovach: This letter will set forth our agreement whereby Omega Healthcare Investors, Inc. ("OHI") will provide office space and certain specified services to Omega Worldwide, Inc. ("OWWI") for the period commencing July 1, 2000. Office Space: OHI will provide furnished office space for three OWWI employees at OHI's principal offices at 900 Victors Way, Ann Arbor, Michigan, together with use of office equipment (facsimile equipment, printers, photocopiers), all in substantially the same custom and manner as provided as of June 30, 2000. Information Technology OHI will provide to OWWI personnel information Support: and technology support for its hardware systems and all software used in its operations, all in substantially the same custom and manner as provided immediately prior to July 1, 2000. Accounting/Payroll/ OHI's accounting staff will provide assistance Administrative to OWWI in connection with OWWI's tax Assistance: preparation and transaction processing. OHI will provide assistance to OWWI in connection with OWWI's payroll and benefits administration. OHI will provide filing, typing and other administrative services. All services to be provided in substantially the same custom and manner as provided immediately prior to July 1, 2000. Fees: OWWI shall pay to OHI the sum of $37,500 per quarter, payable in arrears. 2 Confidentiality: Any and all information which is not generally known to the public which is exchanged between the parties in connection with these services, whether of a technical or business nature, shall be considered to be confidential and shall not be disclosed to any third party or parties without the written consent of the other party. Each party shall take reasonable measures to protect against nondisclosure of confidential information by its officers and employees. Confidential information shall not include any information (i) which is or becomes part of the public domain, (ii) which is obtained from third parties who are not bound by confidentiality obligations, or (iii) which is required to be disclosed by law or the rules of any state or Federal regulatory agency, any national securities exchange or the NASDAQ National Market System. The provisions of this paragraph shall survive the termination hereof. Term: One year, renewable by OWWI for successive one year terms by written notice to OHI not less than sixty (60) days prior to the expiration of the current term; terminable by OWWI at the end of each quarter upon at least ten (10) days written notice prior to the end of such quarter. Please indicate your agreement and acknowledgment of the terms of this letter by executing a copy of this letter and returning it to the undersigned. Very truly yours, /s/ EDWARD C. NOBLE Edward C. Noble Chief Financial Officer AGREED TO AND ACCEPTED BY OMEGA HEALTHCARE INVESTORS, INC. By: /s/ SUSAN ALLENE KOVACH Susan Allene Kovach Vice President and General Counsel