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EXHIBIT 1
[VALUEVISION INTERNATIONAL LETTERHEAD]
January 31, 2001
Xx. Xxxxx Xxxxxxxxxxx
Chief Executive Officer
BigStar Entertainment, Inc.
00 Xxxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Re: Sale of Stock
Dear Xxxxx:
This letter sets forth the agreement reached between BigStar Entertainment,
Inc. ("BigStar") and ValueVision International, Inc. ("ValueVision") regarding
the sale to BigStar of the shares of BigStar stock held by ValueVision.
ValueVision hereby agrees to sell, and XxxXxxx agrees to purchase, the One
Million, Four Hundred and Twenty-Eight Thousand, Five Hundred and Seventy-One
(1,428,571) shares of common stock of BigStar held by ValueVision, at a
purchase price of $.04 per share, for an aggregate purchase price of $57,142.
This letter agreement shall be governed by and construed under New York law, and
shall be binding upon the parties hereto and their respective successors and
assigns.
Sincerely, Acknowledged and Agreed:
ValueVision International, Inc. BigStar Entertainment, Inc.
By: /s/ Xxxxxxxx X. Xxxxxxxx By: /s/ Xxxxx Xxxxxxxxxxx
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