EXHIBIT 10.10
MediaNet Group Technologies, Inc.
0000 X. Xxxxxxx Xxx. Suite 300 Boca Raton, FL 33432
Phone 000-000-0000 Fax 000-000-0000
xxx.xxxxxxxxxxxxx.xxx xxx.xxxxxxxxxx.xxx xxx.xxxxxxxxxx.xxx xxx.xxxxxxxxxx.xxx
December 1, 2003
Board of Directors of MediaNet Group Technologies, Inc.
0000 X. Xxxxxxx Xxx. Suite 300
Boca Raton, FL 33432
Gentlemen:
This letter shall confirm my agreement to defer all salaries due me through
December 31, 2004. Said deferred salary will be due and payable on January 1,
2005, without interest.
If mutually agreed, I will have a right to exchange, on a quarterly basis, any
or all of the accrued salary for restricted common shares of the Company to be
valued at $1.65 per share.
Yours truly,
/s/ Xxxxxx Xxxxx
Xxxxxx Xxxxx
Chief Executive Officer
