EX-10.2 8 alternetex1021203.txt EXHIBIT 10.2 SCHOOLWEB SYSTEMS INC. #280-815 West Hastings Street Vancouver, BC V6C 1B4 Phone: (604) 608-2540 Fax: (604) 608-8775 June 29, 2001 Advanced Interactive Inc. 718-1350 East Flamingo Road Las Vegas, Nevada 89119 Attention: Karim Lakhani -and- Advanced Interactive Canada Inc. 2101-1177 West Hastings Street Vancouver, BC V6E 2K3 Attention: Harry K. Davis Dear Sirs: Re: License Agreement dated January 1, 2001 (the "Agreement") This letter is written to confirm as follows: 1. The license agreement dated January 1, 2001 (the "Agreement") between Advanced Interactive Inc. ("AII Nevada"), Advanced Interactive Canada Inc. ("AII Canada") and SchoolWeb Systems Inc. (formerly Alternet Systems Inc.) ("SchoolWeb") states, in Section 5.1(c), that SchoolWeb shall issue shares to AII Nevada for the license as follows: "Also, in consideration of the license granted, and on execution of this Agreement, Alternet will issue to AII Nevada the greater of 2,000,000 of its common shares, or an amount equal to 25% of Alternet's totally issued and outstanding common shares at the date of execution of this Agreement." 2. The Agreement is hereby amended such that the amount of shares which are granted is: "Also, in consideration of the license granted, and on execution of this Agreement, Alternet will issue to AII Nevada 2,500,000 of its common shares." 3. In all other ways, the Agreement remains in full force and effect. If this accurately describes your understanding of our agreement, please so indicate by signing below and returning a copy of this letter to our offices at (604) 608-8775. Upon execution hereof, this letter becomes an amendment to the Agreement binding upon its terms. Yours truly, SCHOOLWEB SYSTEMS INC. /s/ Patrick Fitzsimmons Patrick Fitzsimmons, Director The terms of the Agreement above are hereby read, understood, acknowledged and accepted by the undersigned effective the 29th day of June, 2001. ADVANCED INTERACTIVE INC. By Its Authorized Signatory /s/ Karim Lakhani Karim Lakhani, President and Director ADVANCED INTERACTIVE CANADA INC. By Its Authorized Signatory /s/ Harry Davis Harry Davis, President and Director