[EXHIBIT 10.2]
February 3, 2007
RE: Acknowledgement of Continuation of Genova Executive Consulting Services
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This letter confirms that Third-Order Nanotechnologies has agreed to
continue the engagement of Xxx Xxxxxx'x services as Interim CEO, as defined
in the prior Consulting Agreement of record, until adequate funding
(>$1M cum) is raised through a 506 offering or other instrument. Third-Order
agreed to continue to remunerate Xx. Xxxxxx at his prior billing rate of
$8,000/month, and Xx. Xxxxxx agreed to defer payment for services from
September, 2006 through the month when funding is received (projected to
be February, 2007). Third-Order also agreed to reimburse Xx. Xxxxxx for
all expenses incurred on behalf of the Company during the aforementioned
period. Payment shall be made to Xx. Xxxxxx within 15 days after receipt
of funding. Also, per prior verbal assurance from Xxxxxxxxx Xxxxx, Xx.,
Xx. Xxxxxx is entitled to a bonus payment of $50,000.00 for services
rendered to date. This bonus has been accrued and will be paid within
15 days after funding is received.
Genova Executive Business Consulting
/s/Xxx Xxxxxx
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Xxx Xxxxxx - Principal
Third-Order Nanotechnologies, Inc.
/s/Xxxxxxxxx X. Xxxxx
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Xxxxxxxxx X. Xxxxx - President, Director
