LETTER AGREEMENT
FOR $10 AND OTHER GOOD AND VALUABLE CONSIDERATION, the receipt of which is
hereby accepted and acknowledged, by and between XxxxXxxxxx.xxx, Inc.
("XxxxXxxxxx.xxx"), Xxxxxxx X. Xxxxxx and Houston InterWeb Design, Inc.
("Houston InterWeb"), the parties agree as follows:
(1) Houston InterWeb hereby agrees to distribute 4,545.4545 shares of
Houston InterWeb common stock ("Common Stock") to XxxxXxxxxx.xxx;
(2) XxxxXxxxxx.xxx agrees to distribute the Common Stock to the
XxxxXxxxxx.xxx stockholders;
(3) the parties hereby mutually agree to set a record date in the
future; and
(4) Houston InterWeb hereby agrees to file a registration statement at
its expense, with the Securities and Exchange Commission.
Houston InterWeb has the full right, power, legal capacity, and
authority to enter into and perform its obligations under this Agreement.
Houston InterWeb does not need the consent of any third parties to execute
this Agreement. This Agreement constitutes a legal and binding obligation of
Houston InterWeb, and is valid and enforceable against Houston InterWeb in
accordance with its terms.
Dated: July 21, 1998
XXXXXXXXXX.XXX, INC.
By: /s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx, chief executive officer
HOUSTON INTERWEB DESIGN, INC.
By: /s/ Xxxxx X. Xxxxx
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Xxxxx X. Xxxxx, President
