First Amendment to Letter of Intent Between Internet Venture Group, Inc. and Charles L. Joekel Regarding Purchase of Texas Staffing Services, Inc. Stock

Summary

This amendment updates the Letter of Intent between Internet Venture Group, Inc. (iVG) and Charles L. Joekel regarding iVG's proposed purchase of Texas Staffing Services, Inc. (TSS). The amendment clarifies that any confidentiality agreements iVG enters into with third parties will not reduce iVG's main responsibility to protect TSS's confidential information. The seller or company may also enforce confidentiality independently. The amendment is effective upon acceptance by both parties.

EX-10.2 3 0003.txt AMENDMENT TO LOI CHARLES L. JOEKEL TEXAS STAFFING SERVICES, INC. 3000 Richmond Avenue, Suite 120 Houston, Texas 77098 Phone ###-###-#### Fax ###-###-#### May 4, 2000 PRIVILEGED AND CONFIDENTIAL VIA FACSIMILE: 713 ###-###-#### Elorian Landers, President Internet Venture Group, Inc. 9307 West Sam Houston Parkway Building 100 Houston, Texas 77099 RE: Internet Venture Group, Inc. ("iVG"); Proposed purchase of the stock of Texas Staffing Services, Inc., d/b/a Trendsetter Staffing Services ("TSS") from Charles L. Joekel ("Joekel"); First Amendment to the Letter of Intent ("LOI") dated April 25, 2000 Dear Elorian: This letter is the First Amendment to the Letter of Intent executed between iVG and TSS on April 25, 2000. As indicated by the execution of this agreement by iVG. Paragraph II.4 is amended to add the following to the end of the paragraph: "It is agreed that any Confidentiality Agreement entered into by the Purchaser, iVG, with any third party to which Confidential Information of the Company is to be provided, such Confidentiality Agreement entered into to protect such Confidential Information from disclosure by such third party, shall not alter, amend, or release the Purchaser, iVG, from its principal and primary duty under this LOI to protect the confidentiality of the Confidential Information, notwithstanding the fact that the Seller or the Company, as the case may be, may be a party to and enter into such Confidentiality Agreement, the effect of which is to provide the Company with an independent right and cause of action, distinct from iVG, to protect confidentiality of its information and enforce such Confidentiality Agreement." Elorian Landers, President Internet Venture Group May 4, 2000 Page 2 Very truly yours, CHARLES L. JOEKEL (Seller) ---------------------------------------- AGREED AND ACCEPTED on this _________ day of ____________, 2000. INTERNET VENTURE GROUP, INC. (Purchaser) By: ------------------------------ Elorian Landers, President c: Drew N. Bagot, Esq. Vial, Hamilton, Koch & Knox, LLP 1717 Main Street, Suite 4400 Dallas, Texas 75201 c: Thomas G. Gruenert, Esq. 7707 Fannin, Suite 203 Houston, Texas 77054