Exhibit 10.2
ADDENDUM TO MEMORANDUM OF UNDERSTANDING
The following addendum made this 8 day of January, 2002 by and between
Internet Cable Corporation, a Nevada corporation ("ICBL") with offices Located
at 000 Xxxxxx Xxxxx, Xxxx 0, Xxxxxxx, Xxxxxxx X0X 0X0 Canada, and Xxxxxxx Xxxxxx
("Xxxxxx") residing at 0000 Xxxxxxxxxx Xxxxx, Xx. Xxxxxxxx, XX 00000 sets forth
a binding modification of the agreement by and between the parties hereto,
entered to on October 29, 2001, subject to the terms and conditions as contained
herein.
WHEREAS, the parties have previously entered into a Memorandum of Understanding
which settles various issues between them, and
WHEREAS, ICBL and Xxxxxx wish to modify the terms of such Memorandum of
Understanding.
NOW THEREFORE to parties hereto agree to the following changes:
l) Xxxxxx obligation to deliver shares of ICBL's common stock in
escrow shall be reduced to 225,000 from 240,000.
2) ICBL obligation to deliver 116,000 shares and or options to
Xxxxxx as and for settlement of any obligations due to the
termination and any amounts due under an employment contract
between the parties, shall be reduced to 100,000 shares and or
options as the parties hereto agree.
3) All other terms of the Memorandum of Understanding by and between
Xxxxxx and ICBL shall remain in full force and effect and are
incorporated by reference herein.
4) This Memorandum may be executed by one or more of the parties
hereto in any number or separate counterparts, each of which when
so executed shall be deemed to be an original and all or which
taken together shall be deemed to constitute one and the same
instrument.
5) This agreement may be executed by facsimile, which shall be
deemed to constitute an original signature.
WHEREFORE, the Parties hereto execute tins Addendum with the intent that
they be legally and equitably bound by its terms.
Signed:/s/Xxxxxx Xxxxxxxx Signed:/s/Xxxxxxx Xxxxxx
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Xxxxxxx Xxxxxx
Internet Cable Corporation
By: Xxxxxx Xxxxxxxx CEO
Date: 5/15/02 Date: 1/8/02
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