PROGRESSIVE TELECOMMUNICATIONS CORPORATION
000 Xxxxxxxxx Xxxxxx, Xxxxx 000
Xxxxxxxxxx, XX 00000
February 16, 2000
Xxx Xxxxx, Esq.
000 X. Xxxx Xxxxxx
Xxxxx, Xxxxxxxx 00000
Gentlemen:
As compensation for legal consulting services rendered by you in the
amount of $63,991.05, we confirm our agreement to issue to you an aggregate of
25,597 shares of Progressive Telecommunications Corporation (the "Company")
common stock, $.001 par value.
These shares will be issued upon the effective date of a Form S-8 Registration
Statement and the delivery of the documents to you which constitute the S-8
Prospectus, which the Company agrees to complete by February 22, 2000, free and
clear of any restrictions on sale by you.. We also confirm that the board of
directors of the Company have duly approved the issuance of shares to you.
Please confirm that this correctly sets forth our understanding relating to the
settlement of compensation due to you for these services by signing the extra
copy of this letter and returning it to us.
PROGRESSIVE TELECOMMUNICATIONS
CORPORATION
BY: /s/ Xxxxx X. Xxxxxxx
Xxxxx X. Xxxxxxx,
Chairman and CEO
Accepted:
/s/ Xxx Xxxxx
Xxx Xxxxx, Esq.
