Exhibit 6.3
Agreement of Contract
Entered into this 16/th/ day of July, 1999
Between
Thermal Ablation Technologies Corp ("Thermal")
And
Xxxxxxx Xxxxxxx and Xxxxxx Xxxxxxx ("Management")
Whereas
. Thermal has changed its business focus to become an Internet marketing and
entertainment public company which requires management to achieve its
objectives
. Xxxxxxx and Charlo have the expertise to manage the affairs of the company
and develop Thermals business plan
Now therefore, for valuable consideration given and received and for their
mutual covenants, the parties agree as follows
1. Thermal has agreed to employ Management to operate the company on a day to
day basis which will include the management of the Public company, its
filings and accounting and its public relations. It will include creating
an opt-in advertising program, establishing retail affiliations for e-
commerce retail sales and setting up an Internet Portal for Xxxxx.xxx, as
well as the acquisition of sub-licensing agreements to enable Thermal to
act as re-sellers of gaming software.
2. Management has agreed to accept the appointment and will undertake the
responsibilities set out in para 1 above.
3. The term of the contract shall be for 12 months and shall automatically be
renewed annually unless cancelled at the end of any term
4. Management shall be entitled to remuneration based on 5% of the gross
revenue earned by Thermal or $5,000 p.m whichever is the greater. Payment
shall be made monthly in arrears.
5. Thermal shall be responsible for all expenses incurred by management
including, office, staff, telephones, fax, internet access, travel,
entertainment, advertising and third party
expenses including legal, accounting, investor relations, printing and,
notwithstanding the foregoing, all other expenses associated with the
management and operation of Thermal from a corporate and a business
standpoint.
6. Management shall be issued 100,000 options each at $1.00 per share and may
at their discretion request the Board top authorize the issue of options as
to employees or contractors under the NASD rules.
7. Thermal is aware that Xx Xxxxxxx is President and a control shareholder of
Virtualynx Internet Inc ("Virtualynx") which is a web-hosting company and
will continue to operate virtualynx but will spend that amount of time as
is required to manage Thermal as President. Xx Xxxxxxx has interests in
other business operations which he will continue. Parties acknowledge that
there is no conflict of interest as Virtualynx is synergistic to Thermal's
operations.
8. Thermal is aware that Xx Xxxxxxx is Present of UniNet Capital Corporation
and Hillcon Developments Ltd an Investment Banking and Real Estate
Development company respectively, and will continue to operate those two
companies but will spend that amount of time as is required to manage
Thermal as Secretary. Parties acknowledge that there is no conflict of
interest.
9. Thermal is aware that management will receive 250,000 restricted shares
from UniNet Technologies Inc. for `finding' and structuring the purchase of
the url/domain Xxxxx.xxx.
/s/ Xxxxxx Xxxxxxx /s/ Xxxxxx Xxxxxxx
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Thermal Ablation Technologies Corp Xxxxxx Xxxxxxx
/s/ Xxxxxxx Xxxxxxx /s/ Xxxxxxx Xxxxxxx
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Thermal Ablation Technologies Corp Xxxxxxx Xxxxxxx
