EX-10.2
from 10QSB
1 page
August 11, 2000 Global Itechnology, Inc. 317 Madison Avenue, Suite 807 New York, Ny 10017 Re: Loans Gentlemen: You Have Asked That I Loan Global Itechnology, Inc. (The "Company") an Additional $110,000. I Have Previously Loaned the Company $125,000 Which Is Evidenced by One or More Demand Promissory Notes (The "Notes"). I Hereby Agree to Lend the Company the Additional $110,000 Provided, the Company Enters Into a Pledge, Escrow and Security Agreement, Pledging Its Ownership in Certificate Express, Inc. to Secure Repayment of the Total of $235,000 (The "Loans") and Issues 22,000 Three-Year Warrants to Me to Purchase Shares of the Company's Common Stock for $.1875 Per Share. in Addition, I Agree That the Loans Will Now Be Represented by a Single Promissory Note Due August 10, 2001 or Earlier in the Event of Financing. if These Terms Are Acceptable to You, Please Sign and Return a Copy of This Letter to Me. Very Truly Yours, Secured Lender Accepted: Global Itechnology, Inc. By: Lee Montellaro, CFO
12/34/56