Memo of Understanding
This Memo of Understanding is entered into as of this 1st day of
December, 1999, effective for one year by and between iShopper, Inc., a Nevada
Corporation and Xxxxxxx X. Xxxxxxx, Xx.
For the duties and services to be performed by Xxxxxxx X. Xxxxxxx, Xx., he shall
receive the following:
Annual Salary $52,000
Stock Options 200,000 Options at $1.75 per share
The option grant date is December 1, 1999 for all 200,000 options. Options are
for a five-year period and are exercisable beyond employment.
In addition, Xxxxxxx X. Xxxxxxx, Xx. will be eligible for all other benefits of
the Company, including all other option plans, bonuses, insurance and any other
benefits which employees of the Company can participate in.
/s/ Xxxxxxx X. Xxxxxxx, Xx. /s/ unreadable
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Xxxxxxx X. Xxxxxxx, Xx. as President/CEO xXxxxxxx.xxx
Date 12/1/99 Date 12/1/99
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