AGREEMENT
This agreement states that eConnect and ▇▇▇▇▇▇▇▇▇ 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:
Internet Cash Programming: A Service offered by ▇▇▇▇▇▇▇▇▇
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:
1.0: eConnect and ▇▇▇▇▇▇▇▇▇ 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 ▇▇▇▇▇▇▇▇▇ Communications shall provide the delivery to
the internet consumer of video streaming programming from either
▇▇▇▇▇▇▇▇▇ 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 ▇▇▇▇▇▇▇▇▇
Communications.
4.1: That ICP shall be a Nevada corporation and shall authorize
1,000,000 shares of stock and that ▇▇▇▇▇▇▇▇▇ 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 ▇▇▇▇▇▇▇▇▇ Communications shall retain the managing
control of ICP and shall appoint officers to manage ICP.
4.3: That all profits of ICP shall be equally split between
eConnect and ▇▇▇▇▇▇▇▇▇ 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 ▇▇▇▇▇▇▇▇▇ Communications.
6.0: That it is the stated purpose of eConnect and ▇▇▇▇▇▇▇▇▇
Communications to bring ICP public by September 2000.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇▇▇
Chairman and CEO Chairman and CEO
EConnect ▇▇▇▇▇▇▇▇▇ 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.