EX-10.7
from 8-K
1 page
Summary of Terms of the Second Extension Agreement Between Netword Publishing, Inc. and Waldrop Enterprises D/B/a Vision Direct Marketing, a Subsidiary of College Partnership, Inc., Dated as of December 20, 2005 1. Netword Publishing, Inc. (“Netword”) and Waldrop Enterprises (“Waldrop”) Agreed to Extend the Term of an Extension Agreement Between Netword and Waldrop, Dated as of November 4, 2005, From December 20, 2005 Until December 31, 2005 (The “Extension Agreement”). 2. Waldrop Agreed to Pay Netword $5,000 Per Week, to Be Made in Daily Installments of $1,000 Payable on Each Business Day Until December 31, 2005. 3. Upon a Failure of Waldrop to Make Any Such Payments Set Forth in Paragraph 2 Above, Netword, at Its Option, Shall Terminate This Agreement and Ownership of the “Verbal Advantage” Line of Products and Any Intellectual Property Related Thereto Shall Revert to the Phillip Lee Bonnell Trust
12/34/56
