CONTRACT FOR OPTION TO PURCHASE INTERST
This Contract is entered into this day of May, 2000, between Xxxx
Xxxxxxxxx d/b/a ISP LIVE of 000 Xxxxxxxxx Xxxx, Xxxxx 000, Xxxxxxx,
Xxxxxxx 00000 (hereinafter called "ISP" and Kingdom Vision Network,
Inc., 0000 Xxxx Xxxxxx Xxxx, Xxxxx 000, Xxxxx, XX 00000 (hereinafter
called "KVN"), WITNESSETH:
WHEREAS, ISP has launched an internet portal use and services company,
including VISP services, web design and e-commerce services; and
WHEREAS, KVN is a television/multimediall network who has a use for
internet portal use and services as well as VISP services, web design
and e-commerce services; and
WHEREAS, both parties deem it desirable to enter into a contract for
their mutual benefit which will allow KVN to use the services provided
by ISP for itself and its subsidiaries and will allow ISP to receive
financial and business help from KVN and its subsidiaries which in due
time and allow for the purchase of an interest in ISP by KVN so that
ISP would become a subsidiary of KVN.
NOW THEREFORE, in consideration for the mutual promises set forth
herein, it is agreed by and between ISP and KVN as follows:
1. Description of Work. ISP will provide portal use and services
together with VISP services, web design and e-commerce services to KVN
per invoiced services at the standard rate for such services which KVN
will promptly pay.
2. Funding. KVN will provide funding and business assistance as
needed by ISP from each stock offering of KVN as long as ISP is having
positive growth.
3. Shared Revenues. ISP will provide KVN with the following
percentages of gross profits on a monthly basis from the products and
services provided by ISP. On all business they obtain form all
clients.
Direct Advertising:
Rate Plan 1 10%
Rate Plan 2-3 .5%
Rate Plan 4-5 .1%
Portal Customization (design)
Web Site Design .05%
Web Site Housing .05%
Miscellaneous Commissions from Partnership 10%
Miscellaneous Setup Fees (not covered elsewhere) 10%
Miscellaneous Monthly Support Services (not covered elsewhere) 10%
Portal (leased)
Plans 1-3 .05%
Portal (licensed owner) .05%
V199 Services
Client Set up Fee .05%
Per User
Rate Plans 1-5 10%
Rate Plan 6- .05%
User Setup Fee
Rate Plans 1-2 10%
Rate Plan 3 .05%
e-commerce Mail 10%
e-commerce storefront (design)
Rate Plans 1-3 10%
Monthly News Feed (Lifeline News)
Basic/Full Service 10%
4. Accounting. ISP shall provide to KVN with its payments of the
shared revenues set forth above an accounting of the income upon which
the shared income amounts are based. The payments thereof shall be
made by the 30th (0r end of the month) day of the month following the
month that the sales ere made which made up the shared revenues.
5. Sale of ISP. During the term of this contract, ISP shall not sell
or enter into any contract for sale without first notifying KVN and
granting KVN the first right of refusal as to the purchase of ISP or
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an interest therein per terms proposed by ISP on May 7, 2000. It is
understood that such right of purchase shall be for a period of two
(2) years from the date hereof. Both parties agree to seek an
equitable purchase upon terms to be agreed upon by the parties.
6. Duration and Termination. This agreement shall be effective upon
the signing of this contract and shall run for a period of two years
from the date hereof. Before the end of the two years period, the
parties shall enter into negotiations concerning a merger or shall
agree that this contract shall terminate at the end of such period.
7. Governing Law. This contract shall be governed by the law of the
State of Georgia.
IN WITNESS WHREOF; the parties have executed this Contract the day and
year first above mentioned.
Xxxx Xxxxxxxxx d/b/a ISP LIVE (ISP)
Xxxx Xxxxxxxxx
Kingdom Vision Network, Inc. (KVN)
Xxxx Xxxxxxxx
Vice President/Corporate Development
THE FOLLOWING INFORMATION IS STRICKLY PROPRIETARY AND XXXXXX BE MADE
ACCESSIBLE TO ANYONE OTHER THAN PRINCIPLES IN THE KINGDOM VISION
NETWORK AND ISP LIVE!
The following figures represent the current Gross Profit percentages
on their respective activities.
Direct Advertising:
Rate Plan 1 -10%
Rate Plan 2 -..05%
Rate Plan 3 -..05%
Rate Plan 4 -.01%
Rate Plan 5 -.01%
Portal Customizations (design):
*100%
*Some portal customizations include amounts for 3rd party software that
we purchase on behalf of the client and should not be a part of the
overall Gross Sales figure because it is not income for ISP LIVE!
Web Site Design:
*..05%
*Some Web site design quotes include amounts for 3rd party software
that we purchase on behalf of the client and should not be a part of
the overall Gross Sales figure because it is not income for ISP LIVE!
Web Site Hosting:
..05%
Miscellaneous Commissions from Partnerships (received):
10%
Miscellaneous Setup Fees (not covered elsewhere):
10%
Miscellaneous Monthly Support Services (not covered elsewhere):
10%
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The following figures are actual Gross Profit revenue for their
respective services.
Portal (leased)
Plan 1 - $1,296.00 -..05%
Plan 2 - $ 995.00 -..05%
Plan 3 - $ 893.00 -..05%
Portal (licensed owner):
$1,600.00 -..05%
VISP SERVICES
Client Setup Fees:
W/portal - $2,495.00 -..05%
W/o portal -$ 700.00 -/.05%
Per User:
Rate Plan 1 - $2.75 -10%
Rate Plan 2 - $2.45 -10%
Rate Plan 3 - $1.50 -10%
Rate Plan 4 - $1.50 -10%
Rate Plan 5 - $2.00 -..05%
Rate Plan 6 - $0.75 -..05%
Rate Plan 7 - $0.50 -..05%
User Setup Fee:
Rate Plan 1 - $2.00 -10%
Rate Plan 2 - $1.50 -10%
Rate Plan 2 - $0.50 -10%
e-Commerce Mall
$14,900.00 -10%
e-Commerce Storefront (design)
Rate Plan 1 - $3,930.00 -10%
Rate Plan 2 - $1,520.00 -10%
Rate Plan 3 - $ 303.20 -10
e-commerce Storefront (Monthly Lease)
Plan 1 - $25.75 -10%
Plan 2 - $35.25 -10%
Plan 3 - $81.75 -10%
Monthly News Feed (Lifeline News)
Basic Services - $59.00 -10%
Full Services - $149.00 -10%
