AMENDMENT #1 TO AGREEMENT DATED AS OF MAY 25, 2004
THIS INSTRUMENT constitutes AMENDMENT # 1 to that certain Agreement
dated as of May 25, 2004 (the "Agreement") between BUZSOFT INC, a Georgia
corporation ("Buzsoft"), and SURFNET MEDIA GROUP, INC., A Delaware corporation
("SurfNet"). SurfNet and the Company are hereinafter referred to collectively as
the "Parties."
The Parties hereby agree to amend the Agreement as follows (each of the
capitalized terms which is used in this letter shall have the same meaning which
is set forth in the Agreement):
1. Section 2 is stricken in its entirety and, a new Section 2) is
inserted in lieu thereof, as follows:
"SurfNet will compensate you for performance of the Services at the
rate of $60,000 per annum through the issuance of three hundred
thousand shares (300,000) shares of common stock of SurfNet (the
Shares") reserved for issuance under SurfNet's Stock Plan and
registered on Form S-8. For purposes of calculating the aggregate
consideration, the value of the Shares will be determined on August 12,
2004, on the basis of the last closing sale price on the OTCBB as of
that date as quoted on Yahoo! Finance (i.e., $.20 per share).
2. Except as specifically amended herein, the Agreement remains in full
force and effect.
IN WITNESS WHEREOF, this amendment to the Agreement has been duly
executed by each of the parties hereto as of the day and year above written.
BUZSOFT INC
/s/ Xxx Xxxxxxxx
-----------------------------
Xxx Xxxxxxxx, President
SURFNET MEDIA GROUP, INC.
/s/ Xxxxxx Xxxxx
By:_________________________
Xxxxxx Xxxxx, Chairman
