September 1, 1999
Amendment #4 to Agreement to License Assets dated February 18,
1997 between Leggoons, Inc., a Missouri corporation and its
assigns ("Leggoons") and Home Point of Sale, Inc., a Nevada
corporation ("HPOS"), now also known as Electronic Transactions
& Technologies ("ET&T").
WHEREAS, paragraph 12(L) of the "Agreement" provides that
modification and amendments thereto can only be made with the
express written consent of Xxxxx X. Xxxxxxx and Xxxxxx X.
Xxxxxx;
WHEREAS, Leggoons, Inc. is now known as eConnect ("ECNC");
WHEREAS, eConnect has issued and outstanding 60,523,775 shares
of common stock as of August 13, 1999;
WHEREAS, paragraph 4 of the Agreement as previously amended
provides for termination of the Agreement as of September 1,
1999, unless certain conditions have been met;
WHEREAS, those conditions have not been met; and
WHEREAS, ET&T, eConnect, Xxxxx X. Xxxxxxx, and Xxxxxx X. Xxxxxx
desiring to further extend the Agreement in order to allow more
time for the conditions of the Agreement to be met, hereby amend
the Agreement as follows:
(1) All references to a cancellation/termination date of
September 1, 1999 contained in the Agreement, as previously
amended, shall be changed to September 1, 2001 provided that the
following specific conditions have been met by ET&T:
(a) Pursuant to the provisions of Para. 2(d) of the Agreement,
ET&T and Xxxxxx will cause eConnect, fomerly known as Betting,
Inc., formerly known as Leggoons, Inc., to immediately issue
1,792,377 shares of its common stock (inclusive of the
contemplated 5% stock dividend) to certain shareholders as
directed by Xxxxx X. Xxxxxxx, in order to restore those
shareholders to their 10% position as provided in said Para.
2(d).
(b) Thereafter, at the end of each quarter of the fiscal year
of eConnect and within 45 days thereof, Xxxxxx and ET&T will
cause eConnect to issue additional shares if/as needed (as
directed by Xxxxx X. Xxxxxxx) to maintain the interest of
certain shareholders of the company at February 18, 1997 at 10%
of the total shares outstanding.
(c) All shares issued under the provisions of Para. 4(a), (b)
above shall be fully registered and free trading unless this
provision shall be specifically waived in writing by Xxxxx X.
Xxxxxxx.
(d) That all other conditions set forth in the Agreement of
February 18, 1997 (as previously amended) have been met by ET&T
on or before September 1, 2001, except that all parties to the
Agreement specifically waive Para. 1(b) and 1(c) of Amendment #2
to the Agreement, dated April 20, 1998.
(2) All parties to the Agreement acknowledge that eConnect was
formerly known as Betting, Inc., which was formerly known as
Leggoons, Inc.
In witness whereof, the parties have executed this Amendment #4
this 1st day fo September 1999.
ET&T
By: /s/ Xxxxxx X. Xxxxxx
Xxxxxx X. Xxxxxx, President
eConnect
By: /s/ Xxxxxx X. Xxxxxx
Xxxxxx X. Xxxxxx, President
/s/ Xxxxxx X. Xxxxxx
Xxxxxx X. Xxxxxx
/s/ Xxxxx X. Xxxxxxx
Xxxxx X. Xxxxxxx
