-311-
investment opportunities for Silite. Weisgal, Transcr. at 4939-
4946; Kanter, Transcr. at 4962-4965.
On February 1, 1984, Century Industries sent an invoice to
Satcorp for $100,000 for “Consultation, analysis, &
recommendations regarding financial advice and structuring in
connection with investment placement opportunities”. Exh. 9243,
at 2. On September 12, 1984, Satcorp and Century Industries (by
Weisgal), executed a letter agreement which stated in pertinent
part:
This letter will briefly outline the relationship
between Satcorp, Inc. (“Satcorp”) and Century
Industries, Ltd. (“Century”) so as to encompass
Burton Kanter and Solomon Weisgal serving as so-
called “financial engineers” for Satcorp and its
existing operating companies and other projects it
may undertake. The scope of involvement will be
principally planning and structuring of
transactions for financings for Satcorp, its
operating companies and its future projects. It
is intended that Century will consider
participating in the actual process of raising
financings, subject to fee arrangements to be
agreed upon in connection therewith, but will not
be routinely responsible for any such activities.
To accommodate the foregoing and the overall
relationship as it has been discussed,
Century will bill fees in addition to those
outlined below for services performed in
connection with specific ventures, provided
all conflicts are disclosed and the decision
with respect to building in such fees has
carefully and conscientiously taken into
account any impact on successful fund
raising.
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