Exhibit 99.4
COMPENSATION AGREEMENT
This Agreement is made this 1st day of September, 2000 by and between Enter
Tech Corporation, a Nevada corporation ("Enter Tech") and Xxxxxx X. Xxxx
("Employee").
RECITALS
A. Employee is currently employed by Enter Tech and receives a salary of
$24,000 per year payable bi-weekly.
B. Employee wishes to accept as payment for Employee's services to Enter
Tech that portion of Employee's salary, which is in excess of the current
minimum wage in Enter Tech common stock ("Stock").
NOW, THEREFORE, Enter Tech and Employee agree as follows:
1. With respect to all accrued and unpaid compensation of Employee as of
the date hereof, Employee agrees that Employee shall be paid that portion of
such compensation as is equal to the current federal minimum wage in cash and
the balance of Employee's compensation shall be paid in common stock of Enter
Tech. Compensation payable with Stock in excess of the minimum wage shall be the
net amount payable to the Employee with taxes, and other withholdings withdrawn.
2. Employee wishes to receive future compensation in excess of the minimum
wage in Enter Tech common stock until such time as Employee or Enter Tech wish
to change this arrangement by giving a 3-day written notice.
3. Enter Tech common stock shall be valued at the mean of the highest and
lowest sale prices for such stock on the last day of the each payroll period
until such a time this agreement is voided as per paragraph 2 of this Agreement.
The Enter Tech stock shall be issued upon the filing of a Registration Statement
on Form S-8 to be filed under the Securities Act of 1933. Enter Tech hereby
agrees to use its best efforts and due-diligence to prepare and file such
Registration Statement as soon as reasonably possible after the date hereof.
4. This Agreement shall be construed and enforced in accordance with the
laws of the state of Colorado. It shall inure to the benefit of and be binding
upon the parties hereto and their respective successors and assigns. This
Agreement modifies the current employment relationship between Enter Tech and
Employee only with respect to the subject matter hereof and in all other
respects, such agreement shall remain in affect.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first above written.
ENTER TECH CORPORATION, EMPLOYEE
a Nevada corporation
By: /s/ Xxx Xxxxxxx /s/ Xxxxxx X. Xxxx
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