Addendum to Administrative Services Agreement between New England Radiation Therapy Management Services, Inc. and Massachusetts Oncology Services, P.C.
This addendum, effective January 1, 2006, updates the existing Administrative Services Agreement between New England Radiation Therapy Management Services, Inc. and Massachusetts Oncology Services, P.C. It increases the monthly service fee from $89,166.67 to $133,333.33, reflecting the fair market value of the services provided. The parties also agree to meet annually to review and adjust the service fee as needed. All other terms of the original agreement remain unchanged.
Exhibit 10.32
ADDENDUM TO ADMINISTRATIVE SERVICES AGREEMENT
This Addendum (the Addendum) is entered into as of January 1, 2006, by and between NEW ENGLAND RADIATION THERAPY MANAGEMENT SERVICES, INC., a Massachusetts corporation (MANAGEMENT SERVICES) and MASSACHUSETTS ONCOLOGY SERVICES, P.C., a Massachusetts professional corporation (the PC). This Addendum amends Section 3.1 of the Administrative Services Agreement dated June 1, 2005 between the parties (the Agreement) to adjust the monthly Service Fee of $89,166.67 paid in 2005 to a monthly Service Fee of $133,333.33. From and after the date hereof, Section 3.1 shall read as follows:
3.1. Service Fee. For the services to be provided hereunder by MANAGEMENT SERVICES, the PC shall pay to MANAGEMENT SERVICES a monthly Service Fee of $133,33.33. The parties agree that the Service Fee represents the fair market value of the services provided by MANAGEMENT SERVICES hereunder and that the parties shall meet annually to reevaluate the value of services provided by MANAGEMENT SERVICES and shall establish the fair market value thereof for purposes of this Section 3.1.
Accepted: | NEW ENGLAND RADIATION THERAPY MANAGEMENT SERVICES, INC. | |||
By: | /s/ David Koeninger | |||
David Koeninger | ||||
Vice President and CFO | ||||
Accepted: | MASSACHUSETTS ONCOLOGY SERVICES, P.C. | |||
By: | /s/ Daniel E. Dosoretz, M.D. | |||
Daniel E. Dosoretz, M.D. | ||||
President |