Services Agreement re: Vice President of Sales Position - Ramsey/Beirne Associates Inc. and Scient Corp.
August 20, 1998
Mr. Eric Greenberg
Chairman
Scient Corporation
720 California Street, 6th Floor
San Francisco, CA 90418
Dear Eric:
This letter will confirm my conversation regarding the following:
Ramsey/Beirne Associates, Inc. will refer candidates to you to fill the
position of Vice President of Sales for Scient Corporation. Your company will
pay our fee for service in accordance with the fee arrangement stated below.
EXPENSES
Expenses include direct out-of-pocket costs and certain expenses incurred on
your behalf. Out-of-pocket expenses incurred by Ramsey/Beirne Associates, Inc.
will be invoiced monthly. Out-of-pocket expenses incurred by candidates during
the interview process will be paid by you to them upon presentation by them or
us.
TERMS
In consideration for our service, Ramsey/Beirne Associates, Inc. will be paid
$50,000.00 in cash and granted warrants for 7,875 shares of Common Stock of
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Scient Corporation. Our retainer is due and payable as follows:
A. One third of cash portion ($16,666.67) to be paid upon the execution
of this agreement.
B. One third of cash portion ($16,666.67) to be paid on the 30th calendar
date of this agreement.
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Mr. Eric Greenberg Page 2
Scient Corporation August 20, 1998
C. One third of cash portion ($16,666.66) to be paid on the 60th calendar
date of this agreement.
D. In addition, upon the start date of the candidate Ramsey/Beirne
Associates, Inc. will be granted warrants for 7,875 shares of Common
Stock of Scient Corporation with an exercise price of $.75 per share.
Should no hire take place, or should an internal candidate fill said position,
both parties to this agreement shall consider any obligation,
one-to-the-other, satisfied upon receipt by Ramsey/Beirne Associates, Inc. of
payments A, B, C, and D. Should a candidate be hired for a position other than
the one mentioned above, or should more than one candidate be hired, the
parties agree that each hiring shall be subject to the terms of this agreement.
It is our pleasure to be of service to you and to work toward the successful
fulfillment of your search requirements.
Sincerely yours, Accepted and Agreed to:
/s/ Juliet L. Flint /s/ Mr. Eric Greenberg
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Juliet L. Flint Mr. Eric Greenberg
Managing Director Chairman
Ramsey/Beirne Associates, Inc. Scient Corporation
JLF/jhc Date: _______________________