EXHIBIT 10.40.02
May 5, 2000
eUniverse, Inc.
000 Xxxxx Xxxxxx Xxxxxxxxxx Xxxx
Xxxxxxxxxxx, XX 00000
Re: Letter Agreement (the "Letter Agreement") by and among eUniverse, Inc., a
Nevada corporation ("eUniverse"), and all of the Former Shareholders of
The Big Network, Inc. ("BNI") who are Shareholders of eUniverse and are
Counter-signatories to the Letter Agreement, dated March 13, 2000
(collectively, the "Shareholders"), providing for the purchase of a
minimum of 500,000 shares of eUniverse common stock by eUniverse from the
former shareholders of BNI.
Ladies and Gentlemen:
This letter is to confirm that the undersigned consent to extend the
Closing Date, as defined in the Letter Agreement, from April 24, 2000 to May 19,
2000.
In addition, eUniverse agrees to file to register all the shares held
by the Shareholders (including those held in escrow) on May 22, 2000, if the
Closing (as defined in the Letter Agreement dated March 13, 2000), does not
occur by May 19, 2000. In addition, the Guarantor (as defined in the Letter
Agreement dated March 13, 2000) will immediately transfer 200,000 shares of
common stock in eUniverse to the Shareholders, to be distributed on a pro rata
basis to the Shareholders. The Guarantor will transfer an additional 50,000
shares of common stock in eUniverse to the Shareholders for each week (or the
portion of a week) that transpires until the shares held by the Shareholders are
registered and fully tradeable. All additional shares transferred shall be
registered along with those shares held by the Shareholders.
Please acknowledge receipt of the foregoing and your agreement and
consent to same by executing a copy of this letter where indicated below and
returning a copy to us by facsimile and a fully executed original to us by
overnight mail courier.
Very truly yours,
Arba, LLC.
/s/ Xxxxxxx X. Xxxxxxx By: /s/ Xxxx Xxxx
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Xxxxxxx X. Xxxxxxx Its: Managing member
/s/ Xxxxxxx Xxxxxxx /s/ Xxxxx Xxxx
------------------------ -------------------------
Xxxxxxx Xxxxxxx Xxxxx Xxxx
/s/ Xxxx X. Xxxxx /s/ Xxxx Xxxxxxxx
------------------------ -------------------------
Xxxx X. Xxxxx Xxxx Xxxxxxxx
Argus Capital, LLC.
By: /s/ Xxxxxxx X. Xxxxx /s/ Xxxxxx Xxxxxx
-------------------- -------------------------
Its: Manager Xxxxxx Xxxxxx
Agreed and accepted this
5th day of May, 2000.
eUniverse, Inc.
By: /s/ Xxxx X. Xxxxxxxxx
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Name: Xxxx X. Xxxxxxxxx
Its: Chairman
