EX-99 2 0002.txt ADDITIONAL EXHIBITS EXHIBIT INDEX Exhibit Page (4.1) Letter agreement dated March 6, 2001, between BAC Consulting Corporation and Key Card Communications, Inc. 4 BAC CONSULTING CORPORATION 19900 MacArthur Boulevard Suite 660 Irvine, California 92612 Telephone: (949) 851-9800 Facsimile: (949) 851-0159 March 6, 2001 Steve May, President Key Card Communications, Inc. 5969 Cattleridge Blvd., Suite 200 Sarasota, FL 34232 Re: Acquisition of Fighton Succession Corporation Gentlemen: By this letter, we evidence the terms of the agreement pursuant to which Key Card Communications, Inc. ("Purchaser") agrees to purchase the majority of outstanding shares of common stock of Fighton Succession Corporation, a California corporation (the "Company") from the Company's majority shareholder, BAC Consulting Corporation ("Seller"). Our agreement is as follows: 1. Purchase and Sale. Purchaser agrees to purchase and Seller agrees to sell, substantially all of the outstanding shares of the Company, subject to the terms and conditions of this agreement. 2. Purchase Price. The purchase price shall be in the form of cash and stock as follows: [Confidential Information Redacted] 3. Payment Terms. The purchase price shall be due and payable (each a "Due Date") as follows: [Confidential Information Redacted] 4. Transfer of Stock. Notwithstanding paragraph 3 above, Purchaser acknowledges that the transfer of stock as contemplated in paragraph 1 above will not take place until BAC has received [Redacted] Payment. Despite BAC's transfer of such stock, nothing contained herein shall relieve Purchaser from paying the entire Cash Payment as set forth in paragraph 3 above. 5. Filing of 8-K. Upon the full execution of this letter agreement, BAC agrees to prepare and file an 8-K related to the contemplated transaction. 6. Post-Filing Reports. Once the aforementioned 8-K has been filed, Purchaser agrees that it shall be responsible, financially and otherwise, for filing all periodic reports necessary for the Company (e.g., 10-Q, 10-K, etc.), including the preparation of any necessary audits needed in association with such reports. 5 7. Condition of Company. Seller represents and warrants to Purchaser that the Company is free and clear of all debts and encumbrances of any kind or nature, is a reporting company in accordance with the Securities and Exchange Act of 1934, as amended, as of the closing date, [Confidential Information Redacted] and such other Key Card Communications reasonable representations and warranties that may be required. 8. Closing Date. The closing date shall be the date not later than 5 days after the payment in full of any outstanding balance of the purchase price. Unless extended in writing, the closing date shall occur on or before September 1, 2001. 9. Binding. This letter agreement constitutes a binding agreement on the parties hereto, and may only be modified and amended in writing. 10. Due Diligence. Purchaser shall be entitled to conduct any and all reasonable due diligence on the Company it so desires. 11. No Representation of Seller. Purchaser and Seller acknowledge that certain of Seller's officers are principals in a law firm that has provided legal services to Purchaser's predecessor. Purchaser acknowledges that purchaser has been advised to obtain independent legal counsel in the purchase of the Company and that neither Seller nor any officers of Seller or any related law firms are providing any legal services to Purchaser prior to the closing date. Purchaser acknowledges that Purchaser may engage a law firm with which certain of Seller's officers are also affiliated to complete subsequent registration statements, an 8-K concerning the merger of the Company or change of control of the Company, and quarterly and annual reports as they may become due. The fees for such services are not included in the purchase price and shall be billed and paid in accordance with a separate agreement. Purchaser hereby acknowledges the possible conflict of interest and waives any potential conflict by execution of this agreement. If Seller's counsel so advises, Purchaser shall execute a separate acknowledgment, waiver and consent in accordance with the terms of this agreement. 12. Miscellaneous. Any disputes arising out of this matter will be resolved exclusively in Orange County, California. The prevailing party shall be entitled to recover its attorneys' fees and costs. Time is of the essence in all matters concerning this agreement. * * * 6 If the foregoing accurately represents our agreement, please sign where indicated below. Very truly yours, BAC CONSULTING CORPORATION By: /s/ Patrick R. Boyd -------------------------------- Patrick R. Boyd, Secretary ACKNOWLEDGED AND AGREED TO AS OF FEBRUARY ____, 2001 BY: KEY CARD COMMUNICATIONS, INC. By: /s/ Steve May -------------------------- Its: President --------------------- 7