EXHIBIT 4
[KGL LETTERHEAD]
November 15, 2001
Xxxxxx Xxxx Xxxxxx, President
CyPost Corporation
0000 Xxxx Xxxxxxx Xxxxxx, Xxxxx 000
Xxxxxxxxx, X0X 0X0
Xxxxxx
RE: RETAINER AGREEMENT
Dear Xx. Xxxxxx:
Please accept this letter as confirmation that CyPost Corporation (the
"Company"), has agreed to modify the retainer agreement dated September 5, 1997
(the "Retainer") between the Company and Xxxxxx Xxxxxxxxxx & Xxxxxxxx, LLP.
("KGL"), effective November 15, 2001. The modification, which we understand was
approved by the Company's Board of Directors, is for the Company to pay part of
its outstanding bill for legal services with shares of the Company's common
stock, $.001 par value.
We understand that part of the outstanding bill will be satisfied by the
issuance of 1,000,000 shares valued at approximately $100,000. The board of
directors has approved the filing of a registration on Form S-8 for these
1,000,000 shares. The legal services, for which these shares are being
registered and subsequently issued to Xxxx X. Xxxxxxxxxx, a partner of KGL, did
not include any services in connection with the offer or sale of securities in a
capital raising transaction, and did not directly or indirectly promote or
maintain a market for the Company's securities.
Please note that this letter may be filed as an exhibit to the Form S-8.
In order to effectuate the modification of the Retainer, please sign this letter
and return it to my office. If you have any questions, please call me.
Sincerely,
/s/ Xxxx Xxxxxxxxxx
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Xxxx Xxxxxxxxxx
ACCEPTED AND AGREED:
CYPOST CORPORATION
By: /s/ Xxxxxx Xxxxxx
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Name Xxxxxx Xxxxxx
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Title President
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