Titan Medical Inc (TMDIF)

[BelizeMe]

JT,

It is common place in medical device industry to have what is called a "green Clause". Six months pay is common and even on the conservative side.

I wish people (not you) would stop saying how devious it was that this was put in the contract. Just Google clause and you'll see it is common place.

It protects companies from investing a lot of time building a up another company and then it being sold. I am in the medical device industry and even small independent distributors that represent surgical products have this clause in their contracts.

I'll give you an example why: Independent distributors built up New Wave Surgical (device warmer and cleaner for laparoscopic scopes) to approximately $15 million before Covidien acquired it for $90 million (and then doubled price to hospitals).

The distributors invested a lot of time building up the company's business and the company was rewarded handsomely. Paying commissions to these distributors based on the last six months sales is standard and trivial.

Paying Bertner $120,000 after a acquisition is similarly trivial

Very pleased with new images of console.

BelizeMe