Exhibit 10.2
Summary of Material Compensatory Arrangement between Paperclip Software, Inc. and William Weiss
As of November 6th 2006 Paperclip Software, Inc. (“PCLP”) owed to William Weiss $259,000 and to Registry Services Associates (“RSA”)a partnership he was associated with $650,000, for back salary and consulting services rendered for a period of approximately 7 years. With the agreement of Michael Suleski and Michael Bridges, the two non-interested members of the Board of Directors, Mr. Weiss on behalf of himself and RSA, agreed to take stock in PCLP at a price of $0.35 cents per share for the monies owed with the exception of $25,000. At that time PCLP was trading at $0.03 cents per share.
| Name | | Money owed | | Shares issued | |
| | | | | | |
| | | | | | |
| Registry Services Associates | | $ | 625,500 | | | 1,787,143 | |
| | | | | | | | |
| William Weiss | | $ | 259,000 | | | 740,000 | |
| | | | | | | | |
| Total | | $ | 884,000 | | | 2,527,143 | |
