Exhibit 10.8
Agreement
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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:
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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:
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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.
/s/ TSH
2
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.
(signed) /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ (signed) /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.
/s/ TSH 10/21/99