AGREEMENT
The parties to this agreement are Frontline Processing Corporation
("Frontline"), Xxxxxxx Xxxxx and Xxxxx Xxxxxxx.
The purpose of this agreement is to resolve an outstanding debt for
services for which Xx. Xxxxx and Xx. Xxxxxxx are personally responsible, in the
amount of $2,315.33. These services were rendered to American Internet Technical
Center, Inc. ("AITC"), of which Xx. Xxxxx and Xx. Xxxxxxx were principal owners.
AITC was a subsidiary of AmeriNet Xxxxx.xxx ("AmeriNet")until it merged with
XXXxxxx.xxx, Inc., a current subsidiary of AmeriNet.
The board of directors of AmeriNet has resolved to pay the debt owed to
Frontline in AmeriNet stock, calculated at the value of the stock at its closing
on January 8, 2001, namely $.30 per share. Xx. Xxxxx and Xx. Xxxxxxx represent
and warrant that the attached copy of the board resolution is true and correct
and accurately reflects official action by the board of directors of AmeriNet.
Frontline understands that the stock is restricted and cannot be sold for
one year.
In consideration of the mutual promises herein, the parties agree as
follows:
1. Frontline hereby accepts the agreement of AmeriNet in
satisfaction of the outstanding debt.
2. Frontline agrees to release Xx. Xxxxx, Xx. Xxxxxxx and AmeriNet
from all liability related to this debt in any way, to be
effective upon delivery of the AmeriNet stock.
Done this 15th day of April, 2001.
FRONTLINE PROCESSING CORPORATION
/s/ Xxxxxxx Xxxxx By: /s/ Xxx Xxxxxx
Xxxxxxx Xxxxx
Title: CEO
/s/ Xxxxx Xxxxxxx
Xxxxx Xxxxxxx
