Auctionomics, Inc.
00000 Xxxxxxx Xxxxxxxxx, Xxxxx 000
Xxxxxxx, XX 00000
July 1, 1999
Xx. Xxxxx Xxxxxxxx:
XxxxxxxxxxXxxxxxxx.xxx, LLC
Re: Agreement between XxxxxxxxxxXxxxxxxx.xxx, LLC and Auctionomics, Inc.
Dear Xx. Xxxxxxxx:
This letter will evidence the provisions of the agreement between
Auctionomics, Inc. ("Auctionomics") and XxxxxxxxxxXxxxxxxx.xxx, LLC
("Classified"). In consideration of the mutual covenants contained herein, and
other good and valuable consideration, the receipt and adequacy of which is
hereby acknowledged, we hereby agree as follows:
1. Classified will provide an operational online auction site for use by
Auctionomics in the Auctionomics online internet mall. Auctionomics will use
the xxxxxxxxxxxxxxxxxx.xxx web site as the exclusive online aucction site for
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its online Internet mall and Classified will not allow any other Internet mall
to use said site or its platform during the term hereof.
2. This agreement will have a term of 2 years commencing on the date hereof
and will automatically renew at the end of the initial two year period for an
additional two years unless proper notice is given. Proper notice is written
notice of the desire to terminate the agreement received no less than 90 days
before the end of any two year period.
3. Classified will award a 20% referral fee to Auctionomics for any fees
that Classified charges to customers that are referred to the
xxxxxxxxxxxxxxxxx.xxx web site through the efforts of Auctionomics.
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If the foregoing correctly states our understanding, please evidence your
acceptance and approval in the space below and return a fully executed copy of
the letter agreement to me.
Very truly yours,
AUCTIONOMICS, INC.
By: /s/ Xxxxxx X. Xxxxxx
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Xxxxxx Xxxxxx, President
AGREED AND APPROVED
XXXXXXXXXXXXXXXXXX.XXX, LLC
By: /s/ Xxxxx X. Xxxxxxxx
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