Ergovision, Inc., Xxx Xxxxxxxxx Xxxxx, Xxxxxxxxx, XX 00000
Phone: 000-000-0000 Fax: 000-000-0000
Xxxxx X. Xxxxxxxxx March 16, 1999
00 Xxxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
Dear Xxx:
The following will constitute our Finders Agreement (the "Finders Agreement")
between Ergovision, Inc. (the "Company") and Xxxxx X. Xxxxxxxxx (the
"Armenakis").
1. Subject to the terms and conditions set forth herein, the Company hereby
engages Armenakis on a non-exclusive basis to introduce the Company to
persons and entities which may be interested in participating in a
Financing as principal.
2. The Company shall pay Armenakis as compensation for his services rendered
hereunder options to purchase 50,000 shares for a three year term in the
Company for each $250,000 invested on an equity basis from persons or
entities introduced by Armenakis to the Company on terms and conditions
acceptable to the Company.
3. The exercise price of each 50,000 share stock option, or pro rata portion
thereof, shall be the price received by the Company for its Common Stock
on each equity investment as made in the Company. The Company and
Armenakis have agreed that the first $1,500,000 of equity shall be at an
excercise price of $1.00 per share, resulting in Armenakis receiving a
stock option for 300,000 shares in the Company.
4. This Finders Agreement contains the entire understanding of the parties
and supercedes all prior agreements and understanding between the parties
hereto as to the subject matter hereof and may not be terminated unless in
writing on 30 days written notice. No change, of any of the provisions
hereof shall be binding unless in writing and signed by both parties.
Armenakis is an independent contractor and shall bear all expenses in
conducting the business under this Finders Agreement. Facsimile signatures
of the undersigned parties will have the same force and effect as original
signatures.
5. This Finders Agreement shall be governed by and construed in accordance
with the laws of the State of New York.
If the foregoing is in accordance with your understanding of the Finders
Agreement between us, will you kindly signify same by signing in the space
provided below.
Sincerely,
Agreed and Accepted ERGOVISION, INC.
as of the above date
/s/ Xxxxx X. Xxxxxxxxx /s/ Xxxx X. Xxxxx
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Xxxxx X. Xxxxxxxxx Xxxx X. Xxxxx, President
