Exhibit 10.2
May 16, 2005
Xxxxx Xxxxxx Xxxxxxxx, Esq.
Xxxxxx & Xxxx, LLP
000 Xxxx Xxx Xxxx Xxxx.
Xxxxx 0000
Xxxx Xxxxxxxxxx, XX 00000-0000
Dear Xxxxx,
This letter shall serve as an agreement between you, on behalf of Xxxxxx & Xxxx,
and Park City Group with respect to how outstanding fees owed by PCG will be
satisfied. It is agreed that with respect to the outstanding fees owed as of the
date hereof, you will accept the issuance to you of 250,000 shares of the common
stock of Park City Group that are unrestricted pursuant to an S-8 registration
that PCG will complete prior to issuance, and that upon the sale of those
shares, if there is still a balance owed by PCG, PCG will satisfy that balance
by paying the amount owed in cash within 15 days of notice of the remaining
balance.
If you are in agreement with this please indicate by signing below where
indicated.
Sincerely,
/s/ Xxxxxxx Xxxxxxx
Xxxxxxx Xxxxxxx
Agreed and accepted:
/s/ Xxxxx Xxxxxxxx
Xxxxx Xxxxxxxx
