EFinancial Xxxxx.xxx, Inc.
000-0000 Xxxxxxx Xxxx Xxxx
Xxxxxxx Xxxx, Xxxxxxxxxx 00000
November 22, 2000
Mr. El Xxxxx
Bengal Carbide 0xx Xxxxx
Xxxx Xxxxx, 00/00 Xxxx Xxxxx,
Xxxxx, Xxxxxxxxxx
Dear Xx. Xxxxx:
Re: Compensation for services rendered to EFinancial Xxxxx.xxx Inc. (the
"Company")
This letter will serve to confirm our agreement respecting the
compensation payable to you for certain consultantcy and advisory services which
you have provided to the Company.
In this regard we acknowledge that you have provided assistance to the
Company in finding and forming strategic partnerships and alliances for business
development in Europe for the application of the Company's trading platform (the
"Services"), which assistance has been of significant benefit to the Company.
In full and final satisfaction of the Company's obligations to you
with respect to the provision of these services, it is agreed that the Company
shall issue to you 180,000 shares of common stock at a deemed price of $1.00 per
share and shall also grant to you an option to acquire a further 350,000 shares
of common stock at a price of $1.00 per share, said option exercisable on or
before December 31, 2001 by delivery of notice in writing to the Company
together with a certified cheque or bank draft representing the purchase price
for the shares being acquired. In the case of any stock split, stock dividend,
or like change in the nature of the shares of common stock of the Company, the
number of shares which are the subject of the above referenced option and the
exercise price of same shall be proportionately adjusted.
Accepting that the above accurately details your understanding of our
agreement in this regard could you please execute this letter where indicated
and return same at your earliest convenience.
EFINANCIAL XXXXX.XXX, INC.
Per: /s/ Xxxx Xxxxxx
XXXX XXXXXX, President and CEO
Acknowledged and agreed to this 22nd day of November, 2000 by:
/s/ El Xxxxx
EL XXXXX
