EXHIBIT 4. MODIFIED RETAINER AGREEMENT
XXXXXX XXXXXXXXXX & XXXXXXXX, LLP
ATTORNEYS AT LAW
000 XXXXX XXXXXX
XXX XXXX, XXX XXXX 00000-0000
PHONE: (000) 000.0000
FAX: (000) 000.0000
E-MAIL: XX&X@XXXXXX.XXX
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February 8, 2001
Xxxxxxx Xxxxx,
VerticalBuyer, Inc.
000 Xxxx 00xx Xxxxxx, #00X
Xxx Xxxx, Xxx Xxxx 00000
Re: Modification to Retainer Agreement
Dear Xx. Xxxxx:
Please accept this letter as confirmation that VerticalBuyer, Inc. (the
"Company"), has agreed to modify the retainer agreement dated August 4, 2000
(the "Retainer") between the Company and Xxxxxx Gottbetter & Xxxxxxxx, LLP.
("KGL"), effective February 8, 2001.
The modification, which we understand was approved by the Company's Board of
Directors by written consent on February 8, 2001, is for the Company to pay down
$20,000 of its outstanding xxxx for legal services with shares of the Company's
common stock, $.001 par value. We understand that the outstanding xxxx will be
paid with 166,667 shares of common stock of VerticalBuyer, Inc.
The board of directors has approved the filing of a registration on Form S-8 for
these 166,667 shares.
The legal services, for which these shares are being registered and issued to
Xxxx X. Xxxxxxxxxx, a partner of KGL, did not include any services in connection
with the offer or sale of securities in a capital raising transaction, and did
not directly or indirectly promote or maintain a market for the Company's
securities. Please note that this letter may be filed as an exhibit to the Form
S-8.
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In order to effectuate the modification of the Retainer, please sign this letter
and return it to my office. If you have any questions, please call me.
Sincerely,
XXXXXX XXXXXXXXXX & XXXXXXXX, LLP
/s/ Xxxx X. Xxxxxxxxxx
ACCEPTED AND AGREED:
VERTICALBUYER, INC.
By: /s/ Xxxxxxx Xxxxx
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Xxxxxxx Xxxxx
President and Chief Executive Officer
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