August 4, 2000
Xxxxx X. Xxxxxx, Esq.
0000 Xxxxx 0, 0xx Xxxxx
Xxxxxxxx, Xxx Xxxxxx 00000
Re: Agreement between Segway VII Corp. and
Xxxxx X. Xxxxxx
Dear Xx. Xxxxxx:
The following sets forth the agreement between Segway VII
Corp. ("SEGWAY") and Xxxxx E, Xxxxxx ("XXXXXX"):
1. XXXXXX agrees to purchase 1,000,000 restricted
common shares of SEGWAY at the value of $.0001 per share for
a purchase price of $125.00.
2. Upon the receipt of $125.00, SEGWAY will tender the
shares from treasury to XXXXXX.
3. XXXXXX represents that he is a sophisticated
purchaser with the knowledge and understanding of the
securities industry in order to make well-informed
investment decisions. In addition, XXXXXX has been provided
with access to all documents of SEGWAY and has signed a
subscription agreement attached hereto and made a part
hereof.
4. Notice shall be given by certified mail, return
receipt requested, the date of notice being deemed the date
of postmarking. Notices, unless either party has notified
the other party of an alternative address as provided
hereunder, shall be sent to the address set forth herein.
5. In the event that any term, covenant, condition, or
other provision contained herein is held to be invalid, void
or otherwise unenforceable by any court of competent
jurisdiction, the invalidity of any such term, covenant,
condition, provision or Agreement shall in no way affect any
other term, covenant, condition or provision or Agreement
contained herein, which shall remain in full force and
effect.
6. This Agreement contains all of the terms agreed
upon by the parties with respect to the subject matter
hereof. This Agreement has been entered into after full
investigation.
7. This Agreement shall be construed in accordance
with and governed by the laws of the State of New Jersey
applicable to agreements made and to be performed within the
State of New Jersey without giving the effect to the
conflict of law principals thereof.
8. No amendments or additions to this Agreement shall
be binding unless in writing, signed by both parties, except
as herein otherwise provided.
9. Neither party may assign nor delegate any of its
rights or obligations hereunder without first obtaining the
written consent of the other party.
Very truly yours,
XXXXXXX X. XXXXXX & ASSOCIATES
By: /s/ Xxxx X. Xxxxxxxxx
-------------------------------
XXXX X. XXXXXXXXX
RAG/tp
ACCEPTED AND AGREED TO BY: ACCEPTED AND AGREED TO BY:
SEGWAY VII CORP.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxx X. Xxxxxx
-------------------------- ---------------------------
XXXXXXX X. XXXXXX XXXXX X. XXXXXX
President
