Exhibit 4.7
CLAY MARKETING & PUBLIC RELATIONS, INC.
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August 19, 2002
International Dispensing Corporation
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Gentlemen:
This will confirm our agreement that in full payment for all of our
services to International Dispensing Corporation ("IDC") from April 1, 2002 to
August 31, 2002, consisting of marketing, sales, market research, publicity,
attendance at trade shows and assisting in presentations, subject to the next
paragraph, IDC shall issue to Clay Marketing & Public Relations, Inc. ("Clay")
pursuant to a Registration Statement on Form S-8 (the "Registration Statement")
62,500 shares of Common Stock, par value $.001 per share, of IDC (the "Shares").
In addition, IDC shall, upon presentation of reasonable documentation, promptly
reimburse Clay for up to an aggregate of $9,000 of direct out-of-pocket expenses
incurred by Clay in connection with its performance of services for IDC.
Not later than November 1, 2002 IDC shall file the Securities and Exchange
Commission the Registration Statement covering such Shares and IDC shall
thereafter use its best efforts to have the Registration Statement declared
effective as soon as practicable.
Please indicate your agreement with the foregoing by signing one copy of
this letter and returning it to Clay.
Very truly yours,
CLAY MARKETING & PUBLIC RELATIONS, INC.
BY: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
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AGREED TO:
INTERNATIONAL DISPENSING
CORPORATION
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇
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▇▇▇▇ ▇▇▇▇▇▇▇▇, President
