Citadel Computer Systems
November 6, 1995
Mr. Xxxxxx Xxxxx
Citadel Computer Systems, Inc.
0000 Xxxxx Xxxx Xxxx, Xxxxx 0000
Xxxxxxx, Xxxxx 00000
Re: Options to purchase stock
Dear Xxxxxx:
As confirmation of our verbal agreement on August 3, 1995,
in consideration of your past performance here at Citadel, this
letter serves as written confirmation that Citadel hereby grants
you an option to purchase five hundred thousand (500,000) shares
of Citadel common stock, at an exercise price of $.05 per share,
under the same terms and conditions with regard to any anti-
dilution and dividend provision(s) contained in Citadel's six
hundred and fifty thousand (650,000) Bridge Warrants previously
placed by Xxxxxxx-Xxxxxx. This option is exercisable immediately
and has a term of five (5) years. If Citadel goes public or
merges with another public company, Citadel will use its best
efforts to cause these changes to be registered under the
Security Act of 1933 on a Form S8, or another applicable
registration if this is not available.
Sincerely,
Xxxxxxx Xxxxxxx
Chairman of the Board of
Directors
Citadel Computer Systems, Inc.
GG/kc
DCC1420A 26243-1
