This agreement for stock is between Xxxx X. Xxxxxxxxx, and WI Works. This
stock compensation is for services rendered, as a board member, and consultant
to WI Works. Compensation is as follows:
Compensation
1. 100,000 shares of restricted common stock with an option price of .40 per
share vested immediately and dated March of 1999 as an amendment to our
original agreement dated On March 22, 1999.
2. 50,000 shares of restricted common stock with an option price set by the
closing price of the stock on July 23, 1999 or .75. These shares are fully
vested, and dated March of 1999.
3. Your Board Compensation will remain as outlined with the exception of
considering an adjustment to the Strike price. 10,000 Shares vested
immediately, and dated March of 1999. Adjusted strike price is set at .40 per
share.
4. All shares are once vested March 1, 1999 will be registered to Xxxx X.
Xxxxxxxxx. These shares will be registered for trading upon request from Xxxx
X. Xxxxxxxxx.
This agreement is grandfathered, and will survive any and all future
agreements between WI Works and any third party or other entity or
individuals.
Xxxx, You have been instrumental in our progress to date and I am grateful.
This compensation plan provides you with more shares than you had detailed in
your request. I look forward to your continued involvement in the future of
World InterNetWorks as we begin to market our new business model.
Xxxx X. Xxxxxxxxx Xxxxx Xxxxxx
CEO WI Works
/s/ Xxxx X. Xxxxxxxxx 8/12/99 /s/ Xxxxx Xxxxxx 8/12/99
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Notary
/s/ Xxxxxxxx Xxxxxx
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Xxxxxxxx Xxxxxx
