Summary of Oral Management Consulting Agreement between OnPoint Medical Diagnostics, Inc. and Rainwater Capital Partners, LLC
OnPoint Medical Diagnostics, Inc. and Rainwater Capital Partners, LLC entered into a verbal agreement in June 2009 for Rainwater to provide management consulting and executive leadership services. OnPoint agreed to pay Rainwater $20,000 per month, later reduced to $10,000 per month in January 2010. Payments would be invoiced monthly and made as OnPoint secured sufficient funds, with no interest or late fees applied to outstanding amounts.
Exhibit 10.10
Summary of oral agreement between OnPoint Medical Diagnostics, Inc. (OnPoint) and Rainwater Capital Partners, LLC (Rainwater)
In June 2009, a verbal agreement was entered into between OnPoint and Rainwater, whereby OnPoint would pay Rainwater $20,000 per month for management consulting services and executive leadership which fee was reduced to $10,000 per month in January 2010. Invoicing would occur monthly, and OnPoint would make payments as adequate capital materialized through fundraising efforts. Interest would not accrue nor would any late payment penalties and fees on outstanding invoice amounts.
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