EXHIBIT 99.4
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HR PROPERTIES OPTION AGREEMENT
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1. OPTION TO EXPLOIT:
In exchange for the considerations paid by Company to HR hereunder, HR
hereby grants to Company, as of the effective date of this agreement, an
Option to exploit the following HR-developed television properties: "Wild
Streets" (a/k/a "Street Wars"); "Dirt Traxx" (a/k/a "Extreme Warriors";
"StarRidz"; "Fast Cash"; "Outlaws G2"; and "Sproing". HR represents and
warrants that it owns and/or controls the aforesaid properties.
2. OPTION TERM:
This Agreement shall be deemed to have commenced as of the March 1, 2001
and shall continue for an initial term of one (1) year. The term of this
option shall be tied with that of the Interim Management Services Agreement
between both parties.
3. OPTION FEES AND PAYMENT SCHEDULE:
(a) Base Fee: Company shall receive an option of said properties in
exchange for cash consideration in the amount of Fifty Thousand
Dollars ($50,000.00) which shall be paid in two installments of Twenty
Five Thousand Dollars ($25,000.00), April 15 and May 15, 2001.
(b) Stock Warrants: As further consideration for such option, Company
shall grant HR fully vested warrants to purchase Thirty Million
(30,000,000) unrestricted shares of the Company's stock. For purposes
of this paragraph, the value (exercise price) of the unrestricted
stock subject to such warrants shall be "one mil" (1/10th of $.O1) per
share. HR must exercise these warrants within three (3) years of the
effective date of this agreement.
$25,000.00 April 15, 2001
$25,000.00 May 15, 2001
(c) Use of Option Fees: HR agrees to utilize all option fees paid by
Company to produce two multimedia presentations for sales and
marketing purposes of the HR developed programs under option.
4. REVERSION OF RIGHTS
All rights to HR properties shall revert in full to HR (Company will no
longer be authorized to exploit such properties in any manner), at HR's
sole option, in the event that:
(a) Company does not meet the conditional financing and re-capitalization
terms or HR and Company cannot jointly agree on the terms of an
Employment Contract.
(b) Payments are not fully complied with under this agreement and that of
the Interim Management Services Agreement.
In the event of such reversion, HR would forfeit all stock warrants granted
hereunder and payback the $50,000 option fee.
5. GUARANTEE AND TERMINATION PROVISIONS.
(a) Guarantee by Company; all payments outlined in section 3 (b) shall be
fully guaranteed by Company.
(b) Termination By HR. HR has the unilateral option to terminate this
agreement hereunder should Company fail to meet payment obligations on
a timely basis.
(e) Notice Of Termination. A written "notice of termination" to the
Company shall communicate any termination by HR.
6. REPRESENTATIONS AND WARRANTIES:
(a) HR represents and warrants to Company that it has full right, power
and authority to enter into this agreement, and that it is not a party
to or otherwise bound by any agreement that may, in any way, restrict
its right or ability to enter into this Agreement.
(b) Company represents and warrants to HR that it has full right, power
and authority to enter into this agreement. Company further represents
and warrants that it currently has on hand and available the monies
necessary to fund this agreement and the activities of the HR
hereunder.
RAVEN MOON INTERNATIONAL, INC. HACKER XXXXXX
By: /s/ Xxxx XxXxxxxxxxx By: /s/ Xxxxxx X. Xxxxxx
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Xxxx XxXxxxxxxxx Xxxxxx X. Xxxxxx
By: /s/ Xxxxx Xxxxxx
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Title: President Xxxxx Xxxxxx
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Date: 3/29/01 Date: 03/29/01
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