Exhibit 99.5
January 24, 2004
Xx. Xxxxx Xxxxx
000 X. Xxxxxxxx
Xxxxxxxxxx, Xxxx 00000
Re: Written Compensation Agreement for the issuance of shares of common
stock of Broadcast International, Inc., a Utah corporation (the "Company"), in
consideration of certain consulting services rendered by you, pursuant to your
Consulting Agreement with the Company under date of February 10, 2003.
Dear Xxx:
Over the past year you have performed many more services for the Company than
originally contemplated by your Consulting Agreement. In consideration of
those additional services, the Company agrees to provide the following
compensation.
This agreement will confirm that the Company will issue to you 5,000 shares of
common stock of the Company to be registered on Form S-8 of the Securities and
Exchange Commission for the following consulting services rendered to or for
the benefit of the Company from and after February 10, 2003, to the date
hereof. Consultation regarding selection of members of a new technology board;
board management of Company's patent program; consulting regarding Interact
Devices, Inc. bankruptcy Plan of Reorganization; Business Plan drafting,
formulation and presentations; and the introduction to potential customers of
products being developed by the Company.
The Company will also issue you an additional 5,000 shares of "restricted"
securities (common stock) of the Company as additional consideration for these
services.
The issuance of these securities shall be in full compensation of any and all
services rendered by you, in addition to those services required in your
Consulting Agreement, to the Company to the date hereof.
Thank you very much.
Yours very sincerely,
/s/ Xxxxxx X. Xxxxx
Xxxxxx X. Xxxxx
President/CEO
