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D/LMC/95446.1
D/LMC/95446.1
e-financial
xxxxx.xxx
April 27, 2000
Letter of Agreement
By and between
e-financial xxxxx.xxx (hereinafter FDPO)
and
Xxx Xxxxxxx, licensed insurance broker and Owner of EZ NOW XXXXXXXXX.XXX URL and
web site (hereinafter Xxxxxxx).
This letter outlines the agreement between the two parties FDPO and Xxxxxxx for
the purchase of EZ Now Xxxxxxxxx.xxx URL and web site, which is described as
fully functional and doing web based insurance placement now. The consideration
for this purchase is 50,000 shares of FDPO paid as regulation 144 restricted
shares.
Also included in the share consideration is an unspecified amount as inducement
for Xxx Xxxxxxx to join e-financial depot as our Insurance Manager, with a
mandate to build the web based Insurance business.
Compensation for Xxxxxxx will be a base salary of $5,000/month plus 20% of the
commissions earned on the insurance he writes. When the commission equals 150%
of salary, the salary will be eliminated, and straight commission will apply.
Please signify your agreement by signing below.
Yours truly,
e-financial xxxxx.xxx, Inc.
/s/ Xxxx Xxxxxx
Xxxx X. Xxxxxx
President and CEO
Agreed /s/ Xxx Xxxxxxx
Xxx Xxxxxxx
