EXHIBIT 10.2 MIS MAGNITUDE INFORMATION SYSTEMS, INC. August 26, 1999 Michael G. Martin 12 Tillman Court Bridgewater, NJ 08807 Re: Agreement for Issuance of Equity in Lieu of Salary -------------------------------------------------- Dear Michael: This...

                                                                    EXHIBIT 10.2

MIS
MAGNITUDE
INFORMATION
SYSTEMS, INC.

August 26, 1999

Xxxxxxx X. Xxxxxx
00 Xxxxxxx Xxxxx
Xxxxxxxxxxx, XX 00000

Re: Agreement for Issuance of Equity in Lieu of Salary
    --------------------------------------------------

Dear Xxxxxxx:

This will confirm the verbal agreement reached between you and the Company
pursuant to which you will be issued 150,000 (one hundred fifty thousand) shares
of the common stock of Magnitude Information Systems, Inc. in lieu of cash
compensation for the period May 1, 1999, to December 31, 1999, wish such shares
to be registered on Form S-8. This transaction has been authorized by the Board
of Directors of the Company on April 1, 1999

Please acknowledge the above by signin and returning to us a copy of this letter
agreement.

                              MAGNITUDE INFORMATION SYSTEMS, INC.

                              By: /s/  Xxxxxx X.Xxxxxx
                                  -----------------------------
                                  Xxxxxx X.Xxxxxx, President

00 Xxxxxxx Xxxx
Xxxxxxxxxx
Xxx Xxxxxx
00000

Phone:
(000) 000-0000

Fax:
(000) 000-0000