Re: A Question Looking for an Answer......marc
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posted on
Oct 16, 2008 03:56PM
"Contingent Fee in the Event of Other Events (“Alternate Transaction”). In the event that during the term of this Agreement, there is an acquisition of e.Digital’s stock or assets by a third party, including but not limited to, an acquisition of the Norris Patents such that there is a change in control, or if the Company files or is involuntarily placed in a bankruptcy or other insolvency proceeding, or in the event the Company terminates this Agreement for any reason, the parties agree that Duane Morris shall be entitled to collect accrued costs and a fee equal to three times its overall time and expenses accrued in connection with this Agreement through the date of such transaction, plus a fee of fifteen percent (15%) of a good faith estimate of the overall value of the Norris Patents as of the date of the Alternative Transaction.