VHS Network, Inc.
0000 Xxxxxxxxxx Xxxxxx
April 15, 1999
Re: Management Agreement
Dear Sirs:
This letter will constitute our agreement of VHS Network, whereby Groupmark
Canada Ltd., will supply executive, clerical and administrative staff as
required to perform the day to day business of VHS. Groupmark will contract,
where required, with third parties for technical development and consulting in
regard to "Set Top Box: and "Smart Card" applications.
Groupmark will respond to requests for quotations, answer e-mails etc. Groupmark
will also supply the necessary telephones, office equipment, reception and all
other physical requirements to carry the business of VHS.
The charge for these services will vary depending on demand, however will not
exceed $56,000 per month in U.S. funds including travel and other related
expenses.
Groupmark agrees to accrue its billing for services until VHS may reasonably be
able to pay for same and in the alternative, Groupmark can exercise the option
to accept payment by way of VHS stock in lieu therefore. This agreement will
renew each year unless cancelled by either party in writing, giving 30 days
notice.
Yours truly,
By: /s/ Xxxxx Xxxxxxxx
----------------------
Xxxxx Xxxxxxxx
CEO Groupmark Canada Ltd.
Accepted by VHS Network Inc.
Per_______________________
