ZENASCENT INC.
January 30, 2002
Re: Consulting Agreement/Payment Agreement
Dear Xxxxxxx:
This letter will act as written confirmation that the Consulting
Agreement and payment Agreement between Zenascent, Inc. and Investor Relations
Services, Inc. and Summit Trading Limited (respectively) has been canceled by
the parties and that no payment is currently due and owing to either Investor
Relations Services, Inc. or Summit Trading Limited. As per our subsequent
agreement, it is contemplated that a new agreement will be entered into between
Zenascent, Inc. and Investor Relations Services, Inc. and Summit Trading
Limited; as per our recent meeting, the specifics of a proposed new agreement
will be discussed in connection with the finalization of the revised merger
agreement between Zenascent and Xxxxxx Xxxxxxx Promotions/Xxxxxx Xxxxxxx Boxing.
Very truly yours,
/s/ XXXXXX X. ANGEL
Xxxxxx X. Angel
Vice President
AGREED AND ACCEPTED
/s/ XXXXXXX X. XXXXXXX
Xxxxxxx X. Xxxxxxx
Investor Relations Services
/s/ XXXXXXX X. XXXXXXX
Name: ATTY-IN-FACT
Summit Trading Limited
