Royalty Agreement - MedStrong International Corp. and Christine Durbak
Royalty Agreement
In consideration of the sum of fifty thousand dollars ($50,000) received from
Dr. Christine Durbak, MedStrong International Corporation does hereby assign,
effective September 1, 2003, for business remitted in September and going
forward, the future receipts of all monies received from the following clients:
Road America; MD Data Network; National Protection Services; Membercare Services
up to the maximum sum of $100,000. Said receipts will be paid monthly, but
within five (5) business days of being received by MedStrong, until the full sum
of the Royalty Payment of $100,000 is paid in full. If the full amount of
$100,000 is not paid within twenty-four (24) months, the remaining unpaid
balance will be due in full. With the monthly payment, Dr. Durbak will receive a
full accounting detail of each client.
Late payment penalty. Should the corporation be late beyond the five (5) day
period, a late payment penalty of one thousand dollars ($1,000) will be imposed.
Dr. Christine Durbak is an investor only and MedStrong holds her harmless from
any action of any kind that may result from this transaction.
MedStrong International Corporation
By: Jerry R. Farrar, CEO
Dated: August 25, 2003
Accepted
By /s/ Christine Durbak
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