A five-year employment agreement was signed with Jay Knabb, CEO of Beach
Access.Net, Inc. and the former owner, providing for the following:
o Annual salary of $60,000;
o Options to purchase additional shares of restricted common stock for
$.001 per share as follows (contingent upon certain performance criteria
being met)
o 3,250,000 shares at any time
o 4,000,000 shares beginning January 1, 2001
o 4,000,000 shares beginning January 1, 2002
o 4,000,000 shares beginning January 1, 2003
o A covenant not to compete for a two-year period in certain, as defined,
businesses.
This employment agreement is currently in dispute.
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