Exhibit 10.31
December 20, 2000
Dominion Securities, Inc.
0000 Xxxx Xxxxxxxx, #000
Xxxxxxxxxx, XX 00000
Attention: Xx. Xxxxx Xxxxxxxx, Vice President
Dear Xxxxx
Re: SETTLEMENT OF CLIENT SERVICES AGREEMENT ACCOUNT BETWEEN DOMINION
SECURITIES, INC. AND SOLPOWER CORPORATION
Further to our meeting yesterday this letter is to confirm that we have agreed
to settle the $189,795 that we currently owe Dominion Capital, Inc. as follows:
1. Payments made to Billingtons and Xxxxxxxx in January, February and March
2000 in the amount of $35,000 plus the March 2000 billing to Dominion
Capital, Inc. of $15,000 for a total of $50,000 payable in 125,000 shares
issued at $0.40 per share to Xxxxx Xxxxxxxx.
2. Billings to Dominion Capital, Inc. for the months of April through part of
October 2000 at the rate of $15,000 for a total of $100,000 payable in
250,000 shares issued at $0.40 per share to Dominion Capital, Inc.
3. Billings to Dominion Capital, Inc. for balance of October through December
2000 for a total of $39,795 payable in 250,000 shares issued in the form of
a warrant to Dominion Capital, Inc. exercisable at $0.40 per share up to
December 31, 2002..
If the above meets with your approval please sign where indicated below and
I will proceed with Board of Directors approval and issuance of the shares
and warrant.
Respectfully
/s/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
Secretary/Treasurer
Acknowledged and Agreed this 20th day of December, 2000
DOMINION CAPITAL, INC.
Per: /s/ Xxxxx Xxxxxxxx
-----------------------------------
Xxxxx Xxxxxxxx, Vice President
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