X.X. XXXXXXXXXXXX XXXXXX X. XXXXXXX
0000 Xxxxxxx Xxxxxx 0000 Xxxx 0xx Xxxxxx
Xxxx Xxxxxxxxx, X.X. X0X 0X0 Xxxxxxxxx, X.X. X0X 0X0
August 25, 1999
Xxxx Xxxxxxx and
Xxxx Xxxxxxx
0000 - 000 Xxxx Xxxxxxxx Xxxxxx
Xxxxxxxxx, X.X. X0X 0X0
Dear Sirs:
Re: Acquisition of Quotes Canada Financial Network Ltd.
(the "Acquisition") by Carta Resources Ltd. (the "Company")
With respect to the acquisition of Quotes Canada Financial Network Ltd. by Carta
Resources Ltd., this is to confirm that X.X. Xxxxxxxxxxxx and Xxxxxx Xxxxxxx
shall, for a period of three years following the closing of the Acquisition,
vote their respective shares in the capital of the Company in a manner which is
consistent with the following terms:
(a) that Xxxx Xxxxxxx and Xxxx Xxxxxxx shall be appointed to the board of
directors of the Company;
(b) that the Company shall enter into employment agreements with Xxxx
Xxxxxxx and Xxxx Xxxxxxx for a minimum period of two years at a salary of not
less than $2,500 per month;
(c) that incentive stock options shall be granted to Xxxx Xxxxxxx and Xxxx
Xxxxxxx from time to time entitling each of them to purchase not less than 4%
(or such lower percentage as may be accepted by Xxxx Xxxxxxx and Xxxx Xxxxxxx),
of the issued shares in the capital of the Company at a minimum price permitted
by the Vancouver Stock Exchange for a period of five years.
X.X. XXXXXXXXXXXX XXXXXX X. XXXXXXX
