Item 1.01 Entry into a Material Definitive Agreement
On April 5, 2022, CareClix, Inc., a wholly-owned subsidiary of Registrant,
executed a Service Agreement with GlobeMed Limited, a British Virgin Islands
corporation operating through its principal offices in Lebanon ("GlobeMed"). The
Service Agreement is a SaaS agreement under which GlobeMed will use the CareClix
telemedicine software to implement telehealth services to ten countries in the
Middle East through its third-party health benefits administration (TPA) system.
GlobeMed is the largest TPA in the Middle East region and indicates it currently
has approximately 40,000 physicians in its health network in the region.
The Service Agreement will be implemented initially in Kuwait and Qatar and
thereafter in stages in Bahrain, Lebanon, Jordan, Iraq, KSA, Egypt and the UAE.
Under the terms of the Services Agreement, GlobeMed will compensate CareClix,
Inc. on a monthly basis at the rate of $5.00 US for the first 100 physicians
using the CareClix software and $25.00 US for each physician in excess of 100.
Implementation of the software service and integration with the GlobeMed system
has already commenced and the software service has a targeted go-live date of
June 1, 2022.
Section 9 - Financial Statements and Exhibits Item
9.01 Financial Statements and Exhibits
Exhibit No. Description
10.1 Service Agreement between GlobeMed Limited and CareClix, Inc.
dated as of April 4, 2022
The Schedules to the attached Service Agreement, Exhibit 10.1, Pages 14-31, have
been omitted from the Exhibit as the Schedules contain confidential business
information relating to the operations of both GlobeMed and CareClix, Inc.
Confidential treatment of these Schedules is requested. A complete copy of the
Agreement will be provided to the Commission on request
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