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To: Goodboy who wrote (267)5/5/1999 7:13:00 PM
From: Steven M. Kaplan  Respond to of 570
 
From the just filed PAMC 8-K:

CNet, Inc.

On April 14, 1999, the Company and CNet, Inc. ("CNet")amended the Promotion Agreement dated June 14, 1998, as amended on November 13,1998 (the "Amended Agreement") to, among other things, revise the current payment schedule and to add Snap! LLC ("Snap") as a party to the agreement, as
CNet and Snap are now separate entities. The Amended Agreement extends the termination date of the initial term of the agreement to August 31, 2000; allocates the total number of monthly impressions between Snap and CNet; provides CNet and Snap with the ability to immediately terminate the Amended
Agreement for nonpayment of fees due or to charge interest on all unpaid amountsAgreement; and revises the payment schedule applicable to the optional term. The Amended Agreement also provides for the permanent placement of a Company banner
on the Snap Health Insurance Center to be created within the Business and Money Channel on the Snap website and provides that HealthAxis and Snap shall work at a rate of 1-1/2% per month; revises the exclusivity provisions of the Amended
together to develop a co-branded site.



To: Goodboy who wrote (267)5/5/1999 7:16:00 PM
From: Steven M. Kaplan  Respond to of 570
 
Carrier Partner Alliances
In March 1999, HealthAxis amended its January 1999 Carrier Partner Agreement with the MEGA Life & Health Insurance Company and Midwest National Life Insurance Company of Tennessee, subsidiaries of UICI, to offer health insurance products on the HealthAxis' website with claims processing to be performed by Insurdata Incorporated, a subsidiary of UICI. It is currently estimated that HealthAxis will commence offering UICI's insurance products on its website by late 1999. HealthAxis and Provident also granted UICI rights similar to the rights granted to AOL in the Stockholders Agreement, subject to the priority rights to AOL until HealthAxis completes a Qualified Public Offering or a Qualified Merger as defined in the Certificate of Designation related to the Series C Preferred Stock. HealthAxis also agreed to provide UICI with a one-time right to nominate one nominee for election as a director, which is in addition to the nomination rights granted to the holders of the Series C
Preferred Stock. UICI purchased $5.0 million of the Series C Preferred Stock of HealthAxis.



To: Goodboy who wrote (267)5/5/1999 7:19:00 PM
From: Steven M. Kaplan  Read Replies (1) | Respond to of 570
 
Provident Option to Purchase HealthAxis Shares Held by PILIC.

On March 24, 1999, Provident Indemnity Life Insurance Company ("PILIC"), a subsidiary of Provident and holder of all of the Series A Preferred Stock of the Company, granted Provident the option to purchase all of the Company's Series A Preferred Stock owned by it at a purchase price of $4.71 per share plus 8% interest calculated quarterly and compounded annually from March 24, 1999 to the date of purchase. The option expires on December 17, 2003.