Exhibit 10.8
Agreement
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This agreement states that eConnect and Xxxxxxxxx Communications do hereby enter
into a joint venture and strategic alliance to be ceded Internet Cash
Programming and the following terms and conditions shall apply:
Definitions:
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Internet Cash Programming: A Service offered by Xxxxxxxxx Communications and
eConnect which shall enable the consumer with the
ability to purchase programming by Same-as-Cash, or by
Enhanced Credit Card.
Same-as-Cash: The payment of programming by ATM card and PIN and
effected by the ePIN or like devices.
Enhanced Credit Card: The payment of programming by; credit card that is read
by the ePIN or like devices and is therefore considered
as a safer transaction for the consumer and results in a
lower bank fee for the recipient merchant.
ePIN: The present hardware device that will be distributed
into homes and will effect either a Same-as-Cash or
Enhanced Credit Card transaction.
SafeTpay: The name of the web site button that the consumer clicks
in order to begin either a Same-as-Cash or Enhanced
Credit Card Transaction.
Internet Cash Programming: The name of the service offered to the Entertainment
Industry that will enable them to receive either a
Same-as-Cash or Enhanced Credit Card payment for their
programming.
Recitals:
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1.0: eConnect and Xxxxxxxxx Communications shall enter into a strategic alliance
to form the Internet Service that shall be named Internet Cash Programming.
2.0: That eConnect shall provide the SafeTpay support service for Internet Cash
Pay Per Play.
3.0: That Xxxxxxxxx Communications shall provide the delivery to the internet
consumer of video streaming programming from either Xxxxxxxxx
Communications own inventory base or shall act as a distributor of video
streaming programming from other entertainment providers.
4.0: That ICP shall be jointly owned by eConnect and Xxxxxxxxx Communications.
4.1: That ICP shall be a Nevada corporation and shall authorize 1,000,000 shares
of stock and that Xxxxxxxxx Communications shall receive 400,000 shares of
stock and eConnect shall receive 400,000 shares of stock and that 200,000
shares of stock shall remain in the ICP Treasury.
4.2: That Xxxxxxxxx Communications shall retain the managing control of ICP and
shall appoint officers to manage ICP.
/s/ TSH
2
4.3: That all profits of ICP shall be equally split between eConnect and
Xxxxxxxxx Communications.
5.0: That eConnect shall enjoy exclusive global rights to drive or process all
originating ICP transactions whether transacted by an ePIN or by a
competitive hardware devices that are effecting either a Same-as-Cash or
Enhanced Credit Card programming purchase.
5.1: That eConnect shall charge ICP a flat fee per ICP processed transaction.
5.2: That eConnect shall purchase this exclusive global ICP processing with a
payment of 3,000,000 shares of free trading stock to Xxxxxxxxx
Communications.
6.0: That it is the stated purpose of eConnect and Xxxxxxxxx Communications to
bring ICP public by September 2000.
(signed) /s/ Xxxxxx X. Xxxxxx (signed) /s/ Xxxx Xxxxxxxxx
Xxxxxx X. Xxxxxx Xxxx Xxxxxxxxx
Chairman and CEO Chairman and CEO
eConnect Xxxxxxxxx Communications
Dated: 10/9/99 Dated: 10/21/99
ADDENDUM:
eConnect will bear the responsibility for payments of any finders fee or
brokerage commission if any.
/s/ TSH 10/21/99
