Magnitude Information Systems, Inc.
Exhibit
10.32
Magnitude
Information Systems, Inc.
0000
Xxxxx 00
Xxxxx
000
Xxxxxxxxxx,
Xxx Xxxxxx 00000
February
11, 2008
VIA
HAND DELIVERY
Kiwibox
Media, Inc.
000
Xxxx
00xx
Xxxxxx
Xxx
Xxxx,
Xxx Xxxx 00000
Attention:
Messrs. Lin Dai, Xxxxxxx Xxxxxx and Xxxx Xxxxxxx
Gentlemen:
This
shall serve as a "standstill agreement" between the parties with respect
to a
certain Agreement and Plan of Reorganization, dated February 19, 2007, and
as
amended by Amendments Nos.l through 5, (collectively, the "Agreement"). The
parties agree to extend any and all rights, deadlines, obligations,
requirements, payments and the like, as well as not to exercise any of their
respective rights, under the terms and provisions of the Agreement during
the
period from today through 5:00 pm, Eastern Time on February 25,
2008.
| Magnitude Information Systems, Inc. | ||
| |
|
|
| By: | /s/ Xxxxxx X. Xxxxxx | |
|
Xxxxxx X. Xxxxxx, President |
||
Agreed
to
and Accepted:
Kiwibox
Media, Inc.
| By: | /s/ Lin Dai |
|
Lin Dai, President |
| /s/ Xxxx Xxxxxxx | /s/ Xxxxxxx Xxxxxx | /s/ Lin Dai | ||||
|
Xxxx Xxxxxxx |
Xxxxxxx Xxxxxx |
Lin Dai |
||||
| Kiwibox Shareholder | Kiwibox Shareholder | Kiwibox Shareholder |
