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EXHIBIT 10.7
[XxxXxx.xxx Inc. Letterhead]
April 26, 1999
Xxxxx Xxxxxxxxxx
Dear Xx. Xxxxxxxxxx,
It is the purpose of this letter to set forth the terms of an employment
agreement between Xxxxx Xxxxxxxxxx residing at 0000 Xxxxxxxxx Xxxxxx, Xxxxxxxx,
Xxxxxxxxxx 00000 and XxxXxx.xxx Inc. at 0000 Xxxxxxx Xxx., Xxxxx 0 00, Xxxxxxxx,
Xxxxxxxxxx 00000.
1. It is the desire of XxxXxx.xxx Inc. to employ the services of Xxxxx
Xxxxxxxxxx on a full time basis for a period of one-year beginning May 1,
1999.
2. During the period, Xxxxx Xxxxxxxxxx will serve as Vice President of Technical
Development.
3. Xxxxx Xxxxxxxxxx will be responsible for software development that the
Company is actively working on, which will include development and
implementation of an online Internet auction website including all features
as agreed upon by the parties.
4. Xxxxx Xxxxxxxxxx will be compensated at a rate of $8,333.33 gross pay per
month for $1 00,000 per year. 5. Xxxxx Xxxxxxxxxx shall receive 30,000 shares
of the Company for services previously preformed.
6. Xxxxx Xxxxxxxxxx shall receive an option to purchase 100,000 shares of the
Company's stock at $0.45 per share.
Agreed to by: Agreed to by:
/s/ XXXXXX XXXXXXXX /s/ XXXXX XXXXXXXXXX
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Xxxxxx Xxxxxxxx Xxxxx Xxxxxxxxxx
