EXHIBIT 10.9
MediaNet Group Technologies, Inc.
0000 X. Xxxxxxx Xxx. Suite 300 Boca Raton, FL 33432
Phone 000-000-0000 Fax 000-000-0000
xxx.xxxxxxxxxxxxx.xxx xxx.xxxxxxxxxx.xxx xxx.xxxxxxxxxx.xxx xxx.xxxxxxxxxx.xxx
October 1, 2003
Board of Directors of MediaNet Group Technologies, Inc.
0000 X. Xxxxxxx Xxx. Suite 300
Boca Raton, FL 33432
Gentlemen:
This letter shall confirm my agreement to extend the date for repayment of all
loans due me through December 31, 2004. Said loans will be due and payable on
January 1, 2005, without interest. Said advances shall be non-interest bearing
if repaid by March 1, 2005. Any outstanding balance will bear interest at 6%
thereafter.
If mutually agreed, I will have a right to exchange, on a quarterly basis, any
or all of the dollars advanced for restricted common shares of the Company to be
valued at $1.65 per share.
Yours truly,
/s/ Xxxxxx Xxxxx
Xxxxxx Xxxxx
Chairman
