1
EXHIBIT 10.42
[FORM OF WRITTEN COMPENSATION CONTRACT]
September 9, 1998
_____________________________
_____________________________
_____________________________
Dear _____________:
As we discussed recently, you have indicated you would accept XXsys
Technologies, Inc. freely trading common stock in payment for some or all of the
amount currently owed to you by our Company. As of today, our records show that
amount to be $___________.
Please fill out the information below to indicate the amount you are willing to
accept in this alternate form of payment and return it to me at your earliest
convenience. As soon as we have your signed consent, we will undertake the
filing with the SEC of the S-8 Registration Statement required to register the
necessary stock. Freely trading shares will be issued as soon as possible
thereafter (normally about 4-6 weeks). The number of shares to be issued will be
based on the market price on the day you receive your shares. If you have
questions, please contact me.
Sincerely yours,
Gloria C.L. Ma, Ph.D.
Chairman
________________________________________________________________________________
Yes, I agree to accept freely trading company stock in exchange for _____% of
the amount owed to me as specified above.
Name:__________________________________________________________________
Company:_______________________________________________________________
Title:_________________________________________________________________
Signature:_____________________________________________________________
Date:__________________________________________________________________
