EXHIBIT 99.17
AGREEMENT
THIS AGREEMENT, made as of the 24th day of October, 1998, by and
between R-TEC TECHNOLOGIES, INC., A New Jersey Corporation with a business
address at 000 Xxxxx Xxxx, Xxxxxx, Xxx Xxxxxx 00000, hereinafter the "Company"
and XXXX X. XXXXX, having an address at 00 Xxxxxxx Xxxxx, Xxxxxxxxx, Xxx Xxxxxx
00000 and XXXXXX XXXXXX, having an address at 0000 00xx Xxxxxx, Xxxxxxxx, Xxx
Xxxx 00000 and XXXXX XXXXXX, individually having an address at 000 Xxxxx Xxxx,
Xxxxxx, Xxx Xxxxxx 00000, hereinafter called "Individuals".
WHEREAS, the Individuals have advanced numerous amounts of money to
finance the Company both after its date of incorporation of October 22, 1998 and
prior to its incorporation for several years. The Company guarantees that all
expenses advanced by the individuals both prior to and after the date of
incorporation will be reimbursed to each individual. The Company will attempt to
reimburse each individual lump sum as soon as it is financially able.
Some of the expenses that will be reimbursed, but not limited to are as
follows:
Attorneys Fees, Accountants Fees, Office Leases, etc.
IN WITNESS WHEREOF, the parties hereto have duly executed this
Agreement on the date first above written.
Witness:
/s/XXXX X. XXXXX
--------------------- --------------------------
XXXX X. XXXXX,
Individually
Witness:
/s/XXXXXX XXXXXX
--------------------- --------------------------
XXXXXX XXXXXX,
Individually
Witness:
/s/XXXXX XXXXXX
--------------------- --------------------------
XXXXX XXXXXX,
Individually
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AGREEMENT - PAGE TWO
Witness: R-TEC TECHNOLOGIES, INC.
_____________________ By:/s/XXXXX XXXXXX
------------------------
XXXXX XXXXXX,
Secretary
Witness: R-TEC TECHNOLOGIES, INC.
_____________________ By:/s/XXXX X. XXXXX
------------------------
XXXX X. XXXXX,
Vice President and
General Counsel
Witness: R-TEC TECHNOLOGIES, INC.
_____________________ By:/s/XXXXXX XXXXXX
------------------------
XXXXXX XXXXXX,
President
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