Exhibit 10(y)
AGREEMENT dated as of the 20th day of April, 1998 between Euroweb
International Corp., a Delaware corporation (the "Company") and Eurus Capital
Corporation, a Delaware corporation (the "Consultant").
WITNESSETH;
WHEREAS, the Company is engaged in the Internet business in Hungary and
desires to expand its business into other Central European countries and in
particular, into Poland; and
WHEREAS, the Consultant maintains a general consulting business in
Poland and has heretofore provided to the Company initial research services
regarding the Internet business in Poland, and
WHEREAS, the Company wishes to retain the services of the Consultant as
its consultant upon the terms hereinafter set forth.
NOW, THEREFORE, in consideration of the premises and the mutual
agreements herein set forth, the parties hereby agree as follows:
1. The Consultant shall provide research and advisory services to the
Company with respect to the planning of an Internet service provider in Poland.
Such services will include a preliminary market survey; advice regarding the
general political, economic and regulatory conditions in Poland; consideration
of possible funding sources for the Company in Poland; seeking potential joint
venture partners; identifying potential acquisitions; and advice as to
structuring and financing such business in Poland. Such services will be
performed by Eurus Capital Corporation and/or any of its subsidiary
corporations.
2. The Consultant shall not disclose to any third party any
confidential information obtained during the course of providing its services
under this Agreement without the written consent of the Company.
3. The Consultant shall provide the services covered by this Agreement
as a consultant only and shall have no authority to bind or commit the Company
to any contract, agreement, obligation, employment arrangement, license
application, license agreement, purchase order, or any arrangement that may
create any obligation for the Company.
4. The Consultant will perform its services for the Company (including
all affiliates of the Company) in respect of all Internet of the Company
projects for a period of two years from the date of this Agreement.
Euroweb International Corp
Agreement
page 2
5. This Agreement is not transferable and all services to be provided
hereunder shall be performed by officers and employees of the Consultant
(including its affiliates)
6. As consideration for such services, including all services which
have been preformed heretofore, the Company shall issue options, in the form
annexed hereto as Exhibit A, to the Consultant to purchase 300,000 shares of its
Common Stock at a price of $1.l25 per share for a period of three years from the
date hereof
7. The Consultant shall not be required to devote any minimum amounts
of time to its services hereunder.
8. The Consultant shall not be entitled to reimbursement of any
expenses except such actual incurred expenses as may be approved by the Company
in advance,
9. This Agreement shall be governed by the laws of the State of New
York.
10. This Agreement shall have a term of two years except in respect of
any considerations of confidentiality, which conditions shall remain in effect
for three years from the date of this Agreement.
11. Modifications or amendments to this Agreement shall only be
considered effective if in writing and executed by duly authorized officers of
both parties.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first above written.
EUROWEB INTERNATIONAL CORP.
By:
EURUS CAPITAL CORPORATION
By:
RESCISSION AGREEMENT
Agreement dated July 10, 1998 between Euroweb International Corp., a
Delaware corporation (the"Company") and Eurus Capital Corporation, a Delaware
corporation (the"Consultant").
WITNESSETH
WHEREAS, the parties hereto entered into an agreement (the"Agreement")
on April 20, 1998 whereby the Company retained the Consultant to perform
services for it; and
WHEREAS, the parties hereto desire to rescind the agreement ab initio;
NOW, THEREFORE,
The parties agree to rescind the Agreement ab initio.
IN WITNESS WHEREOF, the parties hereto have executed this agreement as
of the date first above written.
EUROWEB INTERNATIONAL CORP.
By:
EURUS CAPITAL CORPORATION
By:
