EXHIBIT 4.27
[World Gaming Letterhead]
06 September, 2002
Xx. Xxxx Xxxxxx,
Galley Bay,
English Harbour,
Antigua.
Dear Xxxx,
This letter serves to confirm in writing our understanding of the verbal
agreement we have reached regarding your departure from World Gaming.
It is agreed that your contract expires on 26 November, 2002. It is also agreed
that you will officially end your duties as Managing Director of Antigua
Operations on 30 September, 2002.
In recognition for your valued contribution during your tenure with World Gaming
Plc, we agree to continue payments of your salary and allowances until the end
of your contract. In consideration of this, you have agreed to continue to be a
`friend' to World Gaming, and provide handover and transitional assistance when
required.
Outstanding payment due to you is US $28,310.59, which is broken down as
follows: Salary and allowances for October, 2002 ($13,416.66), Salary and
allowances for November, 2002 ($13,416.66), 17 days Vacation Pay ($7,727.27).
Deducted from the amount is $6,250.00, which is the balance owing on your
Employee Account as at 01 October 2002, for a credit card loan.
Payment will be made to you in 6 equal installments of $4,718.43 to be paid on
15th and 30th of the month, October through December, 2002.
On behalf of the management and employees, I wish you the very best in your
future endeavors.
Kindly indicate by your signature that you have read and accept the above
mentioned payment terms.
Sincerely,
Xxxxx Xxxxxx
CEO
Xx Xxxxxxx Xxxxx-Xxxx
Director of Human Resources
_______________________________ _____________
Accepted by Xxxx Xxxxxx Date
LONDON * ANTIGUA * VANCOUVER * GIBRALTAR * TORONTO
