July 31, 1999
Xx. Xxxxxxxx Xxxxx
Voice Powered Technology International, Inc.
00 X. Xxxx Xxxxxx, Xxxx 000
Xxxx Xxxxxx, XX 00000
Re: Management Services Agreement
Dear Xx. Xxxxx:
This letter will memorialize the terms of the agreement between Franklin
Electronic Publishers, Inc. ("Franklin") and its subsidiary, Voice Powered
Technology International, Inc. ("VPTI"), whereby, beginning August 1, 1999,
Franklin will provide certain services to VPTI.
(1) Franklin agrees to manage the business of VPTI by providing services,
including, but not limited to financial management, accounting,
billing, warehousing, production, and payroll and benefits
administration in connection with the severance of present and former
VPTI employees.
(2) In consideration for the services described above, VPTI will pay to
Franklin $5,000 per month, payable on the 1st of each month.
If the foregoing terms are acceptable, kindly countersign both of these
original agreements and return them to me.
Very truly yours,
/s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx
Executive Vice President
ACCEPTED AND AGREED TO:
VOICE POWERED TECHNOLOGY INTERNATIONAL, INC.
/s/ Xxxxxxxx Xxxxx, President
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By: Xxxxxxxx Xxxxx, President
