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EXHIBIT 10.1
[TSS+P LETTERHEAD]
F.A.O. Mr. T. Broughton
Global CyberSports.com
5th Floor
Royal London House
Christchurch Road
Bournemouth
Dorset
BH1 3LT
4 March 2000
Dear Tony,
These are the terms that we are prepared to offer GlobalCyberSports.com:
GCSC will receive a 30% discount on the prevailing UK wholesale price of all
adult ranges of Formula 1 merchandise currently produced under license by TSS+P
Ltd.
GCSC are granted non-exclusive rights to sell the above stated merchandise via
the World Wide Web on a Global basis.
All retail prices for the sale of goods via the WWW or otherwise must be
approved by TSS+P prior to any sale.
All commerce websites, promotional material or press releases whether
on-line, electronic or otherwise featuring the Ferrari name, logos or
trademarks must be approved in advance by TSS+P.
Internet orders fulfilled by TSS+P or their nominated agents will be handled
on a direct consumer basis only. All monies will be collected by automated
credit card authorization only. Monies received via the internet will be
paid to GCSC on a monthly basis less the agreed discount purchase price,
distribution and delivery costs and all credit card commissions, once cleared
funds are received from the assuring bank.
TSS+P is the largest manufacturer of clothing and promotional material for
the Formula 1 market and hold the world wide license's for Ferrari, Michael
Schumacher and Benetton.
Our annual turnover for F1 goods is (Pound Sterling) 20,000,000.
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This agreement is valid until December 22nd 2000.
Any breach of the above terms will result in the immediate termination of this
agreement and a withdrawal of all fulfillment services.
I trust the above meets with your approval but should you have any further
queries, please do not hesitate to contact me.
Your sincerely,
T.M. Chandler
Chief Executive
