EXHIBIT 10.16
This is an amendment to the Software Distributor Agreement dated January 18,
1997 ("Distributor Agreement") entered into between Xxxxxxxx Analytics, Ltd., an
Illinois corporation ("TAL"), and Virtual Telecom S.A., a Swiss stock
corporation ("Virtual Telecom") establishing a moratorium on certain new
licenses within a geographical region.
1 Definitions
1.1 "TAL" shall mean Xxxxxxxx Analytics Ltd. and Xxxxxxxx Software
International L.L.C.
1.2 "TAL Internet Site" shall mean a physical location housing TAL permission,
quote and news servers that distribute market data and news to TAL client
software (e.g., RealTick III or its components) using the public Internet
as the primary means of distribution.
1.3 "Territory" shall mean the countries of Switzerland, France, Germany,
Belgium, the Netherlands and Luxembourg.
1.4 "Term of Moratorium" shall mean the time period commencing January 1, 1999
and ending December 31, 2000.
1.5 "Minimums" shall mean the minimum monthly royalty payments under Section
5(a) of the Distributor Agreement set forth in Table 1.
1.6 "Consideration" shall mean a one-time fee of $500,000 that may be paid 50%
in Virtual Telecom common stock at the option of Virtual Telecom with the
same valuation terms as the Preferred private placement currently being
undertaken.
1.7 "Exempt Organizations" shall mean TAL. Archipelago, Archipelago Services
and existing licensees of TAL Internet Sites and their affiliates,
assignees or successors.
2. In return for the Consideration and the payment of the Minimums, TAL shall
not grant any additional, rights to establish TAL Internet Sites within the
Territory for the Term of the Moratorium to any organization other than an
Exempt Organization.
3. All other terms and conditions of the Distributor Agreement not
inconsistent with this letter shall remain in full force and effect. At the
request of either party hereto, we will enter into a more formal amendment
to the Distributor Agreement for purposes of integrating into the
Distributor Agreement the revisions set forth in this letter.
4. Virtual Telecom agrees to not distribute any product similar to RealTick
III or the TAL ActiveX real-time market data controls. Virtual Telecom may
distribute market data using HTML and similar "pull" technology so long as
the underlying market data servers are TAL market data servers
5. This agreement shall became effective upon execution by both parties. If
both parties have not executed this agreement by December 15, 1998, this
agreement shall be terminated. If the consideration is not paid in full to
Xxxxxxxx Software International by February 28,1999 this agreement will
terminate on March 1, 1999.
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TABLE 1
Minimum Monthly Royalties
Beginning Ending Amount
---------- ---------- ---------
01/01/1999 06/30/1999 N/A
07/11/1999 12/31/1999 $ 50,000
01/01/2000 06/30/2000 $100,000
07/01/2000 12/31/2000 $150,000
ACKNOWLEDGED AND AGREED:
XXXXXXXX ANALYTICS, LTD.,
an Illinois corporation
By: /s/ Xxxxxx Xxxxxxxx
---------------------------------------- _________________________
Xxxxxx Xxxxxxxx, President Date
Virtual Telecom Inc.,
A Delaware corporation
By: /s/ Xxxx Xxxxxxx
---------------------------------------- _________________________
Xxxx Xxxxxxx, Chief Executive Officer Date
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Prices for TAL Trading Tools on INTERNET or INTRANETS
invoiced by TOFF Consulting & Finanz
Recommended Per License VT
No. Products Functions Retail Price Prices US$
------ ------------------------------- -------------------------------- ----------------- --------------
1 Minder within browser Minder Window with: $ 18.00 $ 13.80
(ActiveX) (Set 1)
Setup function (options layout only)
Ticker
2 Minder within browser Minder Window with: $ 35.00 $ 26.25
(ActiveX) and charts (Set 2)
Setup function (options layout only)
Ticker and min. chart functions
3 Private internet RT3 Client MQT Minder Window $ 50.00 $ 37.50
(Set 3) no Page Save Function
integrated Boardview
News
Limited Charts (simple studies)
4 Professional Internet RT3 MQT Minder Window $ 60.00 $ 45.00
Client (Set 4)
Page Save Function
FOREX
Edit Function for Minder
News
News Alert
Ticker
Full Chart
5 Institutional Internet RT3 MQT Minder Window $ 75.00 $ 56.25
Client (Set 5)
Page Save Function
FOREX
Market Maker
Edit Function Minder
Snap Quote
Table
Times a Sales
P&F
Ticker
Stocks
Full Chart
News
News Alert
TalNet
10 TA_SRV (Contr. by TAL) TA_SRV $ 750.00 $562.50
11 TA_SRV not controlled TA_SRV for HOST connections $1,000.00 $750.00
12 TalNet5 only TalNet6 to connect to a TA_SRV $ 20.00 $ 15.00
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