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Document Preview Letter Agreement Re: License Agreement |
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Title: |
Letter Agreement Re: License Agreement |
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Entities: |
Alternet Systems Inc.; Hewlett-Packard Co.; Schoolweb Systems Inc.; Advanced Interactive Inc.; Advanced Interactive Canada Inc.; Alternet Systems Inc. |
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Date: |
2003 |
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Size: |
5KB total |
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Price: |
$41 |
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ID: |
#108624 |
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SCHOOLWEB SYSTEMS INC.
#280 - 815 West Hastings Street
Vancouver, BC V6C 1B4
Tel: (604) 608-2540
Fax: (604) 608-8775
March 8, 2002
Advanced Interactive Inc.
718 - 1350 Flamingo Road
Las Vegas, Nevada 89119
Attention: Mr. Karim Lakhani
-and-
Advanced Interactive Canada Inc.
2101 - 1177 West Hastings Street
Vancouver, BC V6E 2K3
Attention: Mr. Al Jamal
Dear Sirs:
Re: License Agreement (the "License Agreement") dated January 1,
2001 as amended July 17, 2001
This letter is written to confirm our agreement as follows:
1. The License Agreement between SchoolWeb Systems Inc. and
SchoolWeb Holdings Inc. (collectively, "SchoolWeb") and
Advanced Interactive Inc. / Advanced Interactive (Canada) Inc.
(collectively, "AII") is amended such that SchoolWeb consents
(as described in Schedule "A" hereto) to the granting to
Hewlett Packard of the rights detailed in the Solutions
Partner Agreement attached as Schedule "B" hereto.
2. AII and SchoolWeb agree that any funds received under the
terms of the Solutions Partner Agreement shall be paid into a
bank account maintained in the name of Alternet Systems Inc.
(to which SchoolWeb is changing its name). This bank account
(the "Bank Account") will have two signatories, Karim Lakhani
(in his capacity as President of AII) and one signatory from
SchoolWeb.
3. SchoolWeb agrees to distribute the funds in the Bank Account
in accordance with the provisions of the License Agreement
pertaining to the royalty due to AII for sales of caching
server products which AII has licensed to SchoolWeb.
Specifically, SchoolWeb will deduct its Cost of Goods Sold
(including its costs of training, installation, configuration
and providing help desk services) from the funds received
under the terms of the Solutions Partner Agreement and
distribute the remaining funds to SchoolWeb (as income) and to
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