Mr. Michael Zimmerman
Zimmerman and Associates
term sheet is intended to memorialize the agreements reached
between you and Health Care Services, Inc. d/b/a Accretive Health.
The parties anticipate executing more definitive agreements
regarding this subject matter, however it is their intention to be
bound by this term sheet upon its execution.
In exchange for
the license rights, exclusivity and information sharing provided
for below, Accretive Health will grant Mike Zimmerman stock
warrants granting him a 2.5% at the price determined by the
Accretive Health Board to be fair market value (FMV) at the
time the warrants are granted.
Zimmerman Associates will have the right to earn the right
additional Stock Warrants as compensation for its support and
participation of Accretive Health’s Sales Efforts. These
additional Stock Warrants will be earned when Accretive Health
signs a Managed Services Agreement with a hospital/system were
Zimmerman has been Accretive Health’s “sponsor”
with respect to that institution. Zimmerman will be considered
Accretive’s “sponsor” to an institution where
Zimmerman’s efforts resulted in Accretive Health securing a
meeting with a C-level executive or Board member, or where
Accretive Health and Zimmerman agreed that Zimmerman is entitled