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EXHIBIT 10.29
CONTINENTAL CAPITAL & EQUITY CORPORATION
SUITE 200
000 XXXXXX XXXXXXX XX.
XXXXXXXX, XX 00000
PHONE (000) 000-0000
FAX (000) 000-0000
December 15, 1999
Xxxxxxx Xxxxxxx
XxxxxXxxxxxx.xxx
0000 Xxxx Xxxxxx Xxxxx X
Xxxxxxxx Xxxx, XX 00000
RE: LETTER OF UNDERSTANDING
Dear Xx. Xxxxxxx:
This letter shall serve as a formal understanding between Continental Capital &
Equity corporation ("CCEC") and XxxxxXxxxxxx.xxx ("Company") amending Section 4
of the Client Service Agreement executed December 8, 1999, to include the
following terms:
(B) CCEC has an option to purchase from the Company two hundred
thousand (200,000) shares of the Company's common stock as follows: fifty
thousand (50,000) shares at a per share price of five dollars twenty five cents
($5.25); fifty thousand (50,000) shares at a per share price of six dollars
($6.00); fifty thousand (50,000) shares at a per share price of seven dollars
fifty cents ($7.50); and fifty thousand (50,000) shares at a per share price of
eight dollars ($8.00). The options shall expire 36 months from the execution
date of this agreement. The Company agrees to register the underlying shares
pursuant to the terms and conditions of the attached Registration Rights
Agreement.
To confirm that this is also your understanding, please sign in the space
provided below.
Sincerely,
CONTINENTAL CAPITAL & EQUITY CORPORATION
/s/ XXXXX XXXXXX
Xxxxx Xxxxxx
Executive Vice President
Agreed this 15th day of December 1999.
XXXXXXXXXXXX.XXX
/s/ XXXXXXX XXXXXXX
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Xxxxxxx Xxxxxxx
