EXHIBIT 10.4 EMPLOYMENT AGREEMENT WITH XXXXX X. XXXXXXXXXXXX
February 14, 2002
Xxxxx X. Xxxxxxxxxxxx
Technology Visions Group, Inc.
0000 Xx Xxxxx Xxxxx, Xxxxx 000
Xxxxxxxx, XX 00000
Re: Employment Agreement
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Dear Xx. Xxxxxxxxxxxx:
On April 1, 1995, Technology Visions Group, Inc., f/k/a Orbit
Technologies, Inc. (the "Company"), entered into an employment agreement with
you as Vice-President-Operations of the Company. This agreement exists presently
and as of December 31, 2001, the Company was indebted to you in the amount of
$640,560 for unpaid salary. As such, the Company agrees to convert $75,000 of
unpaid salary into common stock at a rate of $.03 per share (2,500,000 shares),
which is the current market price for the common stock.
The Company agrees to promptly register these shares on a Form S-8
under the Securities Act of 1933 at its own expense. This conversion will serve
to reduce the amount of debt the Company owes to you by $75,000.
Sincerely,
/s/Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
President
Agreed & Approved:
/s/ Xxxxx X. Xxxxxxxxxxxx
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Xxxxx X. Xxxxxxxxxxxx
