HomeMy WebLinkAboutFINANCIAL MARKETING CONCEPTS COAST2COAST RX MARKETING AGREEMENT Coast2Coast Rx Marketing Agreement
THIS MARKETING AGREEMENT dated this /I7 day o ....-44 2010, by and
between Financial Marketing Concepts, Inc., hereinafter "FMC" a Florida - orporation, with its
principal place of business at: 100 Executive Way, Suite 214, Ponte Vedra Beach, St. Johns
County, Florida 32082, and Augusta, Georgia, a political subdivision in the State of Georgia,
hereinafter "AUGUSTA" headquartered at: 530 Greene St., Room 601, Augusta, Georgia
30901.
WITNESSETH:
WHEREAS, FMC has created a discount prescription card, to -wit: the Coast2Coast Rx
card, which provides discounts on prescription drugs, lab tests and imaging tests to individuals,
families, and Augusta residents at no cost, and
WHEREAS, FMC can provide AUGUSTA the opportunity to offer its Coast2Coast Rx
discount prescription card to its residents at no cost to AUGUSTA, and
WHEREAS, AUGUSTA is desirous of providing the Coast2Coast Rx discount
prescription card to its residents.
NOW, THEREFORE, in consideration of the mutual terms, covenants and conditions
herein contained, it is agreed as follows:
1. Benefits. FMC will provide its Coast2Coast Rx discount prescription card at no
cost to AUGUSTA, and will pay AUGUSTA a Royalty for each prescription filled under its
unique code that results in a paid claim as listed on Schedule "A" hereof. In addition to the
discounts on prescriptions, the card also offers discounts on imaging and lab tests through an
arrangement with Prepaid Lab, LLC and Prepaid Imaging, LLC.
2. Term. This Agreement is for a period of one year and will automatically renew
for a period of another one -year term unless AUGUSTA gives FMC thirty (30) days written
notice to terminate or unless earlier terminated by default. Royalty to AUGUSTA will continue
to be paid by FMC as long as its residents continue to fill prescriptions under this program, as
long as FMC receives its compensation for those prescriptions, and as long as this Agreement
has not been terminated by AUGUSTA (see Schedule "A ").
3. FMC's Obligations. FMC will provide to AUGUSTA the opportunity to
provide its residents the free Coast2Coast Rx discount prescription card at no cost and will pay
a Royalty to AUGUSTA based on the use thereof for the Coast 2Coast Rx card. The Royalty
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will be paid at its full rate as listed on Schedule "A" so long as AUGUSTA has not endorsed
another discount prescription card after the execution of this Agreement. In the event
AUGUSTA does execute an agreement with another discount prescription card after the
execution of this Agreement, FMC will reduce the Royalty listed in Schedule "A" to twenty -five
cents ($.25) for every prescription filled that results in a paid claim to FMC.
a. FMC will print and distribute the prescription cards for AUGUSTA at
FMC's sole cost.
b. FMC will handle all administration of the card including the providing of
monthly usage reports to AUGUSTA. FMC will assign a unique Group Code to AUGUSTA
for cards printed by FMC so that AUGUSTA'S Royalty can be tracked when the card is used at
participating pharmacies by AUGUSTA residents.
c. FMC will distribute its Coast2Coast Rx cards to participating pharmacies
in AUGUSTA and to other such governmental offices (such as libraries, health departments,
etc.) designated by AUGUSTA.
d. FMC will create a private label website for AUGUSTA to link to from its
website that will describe the Coast2Coast Rx card program, and AUGUSTA residents will
have the ability to print a card from such website.
e. FMC will promote the card for AUGUSTA in all media formats,
including newspaper, radio, and the Internet through press releases and in conjunction with
AUGUSTA'S efforts to promote the card to its residents.
f. FMC agrees to keep all information confidential and use it only in
connection with this Agreement and the purposes intended hereunder.
4. Augusta's Obligations: AUGUSTA will provide the opportunity for its
residents to receive FMC's Coast2Coast Rx discount prescription card and will assist FMC in
promoting the card to its residents through local media. AUGUSTA will conduct itself in such
a manner as to reflect only the highest standards of honesty, integrity and responsibility in the
promotion and representation of the Coast2Coast Rx card.
5. Governing Law and Venue. This Agreement shall be governed by and
construed in accordance with the laws of the State of Georgia, and venue for any proceedings
shall be in Augusta County, Georgia.
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6. Notice. Any notice required by this Agreement shall be in writing, by certified
mail, to the address of each party first set forth above, or at such other address as may hereafter
be designated by either party in writing.
7. Entire Agreement. This Agreement contains all the rights, duties and
obligations of each party, and this Agreement may not be modified or amended except in
writing, signed by both parties.
8. Use of Augusta Seal. For the consideration to be paid by FMC under this
Agreement, AUGUSTA grants to FMC, and FMC accepts, a nonexclusive, nontransferable,
limited and revocable license to use the Augusta Seal in connection with the Coast2Coast Rx
discount prescription card program as described in this agreement, and specifically, but not by
way of limitation, that FMC has the right to use the Augusta Seal on the discount card, the
private label website for AUGUSTA created by FMC, and in FMC's marketing materials,
including the letter to participating pharmacies and pick up locations.
9. Attorney's Fees in Event of Litigation. In the event either party to this
Agreement fails to perform as promised herein, the other party may seek legal remedies, and
the prevailing party shall be responsible for all reasonable attorney fees, court costs and other
costs.
IN WITNESS WHEREOF the parties have hereunto signed this Agreement on behalf of
the corporate entity for which they have legal authority to enter into.
Financial Marketing Concepts, Inc. Augusta, Georgia
By: 6 Gv • B :
Y• Y'
Edward W. Rahn • 6,4 Deke Copenhaver
Its: President , 2 ` Its: Mayor
BY : / 7 44,4 ,., Wif
It- /C'-rk
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Schedule "A"
ROYALTY
1. Coast2Coast Rx Card. FMC has offered the opportunity for AUGUSTA to provide its
residents, at no cost to Augusta, with FMC's Coast2Coast Rx card, and FMC agrees to pay
Augusta a royalty as listed in (2) below.
1. 2. Royalty Paid to Augusta. Except as provided in paragraphs 2 and 3 hereof,
every time a member purchases a prescription through a participating pharmacy using
the Augusta's unique code, and FMC receives compensation for that prescription, FMC
will pay AUGUSTA Fifty Cents ($.50) per filled prescription up to 3,000 filled monthly
prescriptions; from 3,001 to 4,000 filled monthly prescriptions, FMC will pay AUGUSTA
Sixty Cents ($.60); from 4,001 to 6,000 filled monthly prescriptions, FMC will pay
AUGUSTA Seventy Cents ($.70) and for 6,001+ filled monthly prescriptions, FMC will
pay AUGUSTA Seventy -Five Cents ($.75). Note: Approximately twenty -two percent
(22 %) of the gross monthly filled prescriptions are low -cost generics that FMC doesn't
receive a royalty and AUGUSTA will not be paid for these prescriptions.
2. In the event AUGUSTA terminates this Agreement for any reason, from and after the
termination date, the Royalty will be paid at the rate of Twenty -five cents (.25) per filled
prescription that FMC has received compensation for.
3. In the event AUGUSTA endorses another discount prescription card after the execution
of this Agreement, then the Royalty will be paid at the rate of Twenty -five cents (.25) per
filled prescription that FMC has received compensation for.
Royalties will be paid in the month following the month in which the prescriptions were filled,
so that prescriptions filled during January will be paid on the first week of March and will be
paid the first week of every month thereafter.
FMC Initials 'L
Augusta Initials 6 L
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