Document:

<PAGE>   1
                                                                 Exhibit 10.7

                                    AGREEMENT

           The following Agreement is hereby concluded by and between

                             BLAXXUN INTERACTIVE AG
                            Eisenheimer Strasse 61-63
                                  80687 Munich

               - hereinafter called "blaxxun" or "manufacturer" -

                                       and

                               INFOMATEC MEDIA AG
                                Steinerne Furt 76
                                 86167 Augsburg

           - hereinafter called "Infomatec Media AG" or VAR Partner -
<PAGE>   2
1.       PRELIMINARY REMARKS

blaxxun has special software products and developers with particular experience
in the area of 3D worlds. Infomatec Media AG is currently preparing projects in
which software and development services, such as are available at blaxxun, are
needed to a large extent.

2.       ACCEPTANCE OF DEVELOPMENT SERVICES

Infomatec Media AG hereby undertakes to accept development services in the
amount of 500 man-days at $1000 each by 12/31/2000.

In this way, development services in the area of 3D worlds and adaptations of
blaxxun software to the planned projects of Infomatec Media AG are to be
provided.

3.       USE OF THE BLAXXUN SOFTWARE

(1)Infomatec Media AG needs special client software for the realization of the
   projects currently being prepared by it. In the view of Infomatec Media AG,
   blaxxun has a suitable product (blaxxun Community Platform plus Development
   Kit).

(2)Infomatec Media AG hereby undertakes in a binding manner to use the software
   of blaxxun in the realization of the current project at [**](1) (preparation
   of an on-line trading system with Virtual Community), and to acquire the
   necessary licenses from blaxxun for this purpose.

(3)Infomatec Media AG hereby further undertakes to accept blaxxun licenses for
   all other projects in which Virtual Communities are prepared and the software
   of blaxxun can be used according to the particular project specifications.

(4) For currently ongoing and future projects, licenses shall be accepted from
blaxxun for the following amounts:

         licenses valued at $ 0.5 million by July 31, 2000,
         additional licenses valued at $ 1.5 million by July 31, 2001,
         additional licenses valued at $ 3 million by July 31, 2002.

In the event that use of the blaxxun software in the projects of Infomatec Media
AG is not possible according to performance certificates or project
specifications, the acceptance quantities according to paragraph 4 of this
Agreement may be adjusted accordingly.

--------
(1)   [**]    Indicates that information has been omitted and filed separately
              with the Commission pursuant to a request for confidential
              treatment.
<PAGE>   3
4.       BUYBACK OPTION

(1)Infomatec Media AG has acquired a share in blaxxun interactive, with
   registered office in San Francisco (USA), through a separate agreement (Stock
   Purchase Agreement dated February 25, 2000).

(2)It is hereby agreed by and between blaxxun interactive, Inc. and Infomatec
   Media AG that blaxxun interactive, Inc. shall be entitled to buy back its
   shares from Infomatec Media AG under the following conditions:

-        If Infomatec Media AG does not accept licenses valued at $ 0.5 million
         by July 31, 2000 in accordance with No. 3 paragraph 4 of this
         Agreement, then blaxxun interactive, Inc. shall have the right to buy
         back 10% of the shares at a price of $ 11.80 per share. This right
         shall expire at the end of the day on August 30, 2000.
-        If Infomatec Media AG does not accept additional licenses valued at $
         1.5 million by July 31, 2001 in accordance with No. 3 paragraph 4 of
         this Agreement, then blaxxun interactive, Inc. shall have the right to
         buy back 30% of the shares at a price of $ 11.80 per share. This right
         shall expire at the end of the day on August 30, 2001.
-        If Infomatec Media AG does not accept additional licenses valued at $ 3
         million by July 31, 2002 in accordance with No. 3 paragraph 4 of this
         Agreement, then blaxxun interactive, Inc. shall have the right to buy
         back 60% of the shares at a price of $ 11.80 per share. This right
         shall expire at the end of the day on August 30, 2002.

The amount which blaxxun interactive, Inc. must pay to Infomatec Media AG in the
event of exercise of a buyback right shall be increased by an amount of 5% per
year starting on February 25, 2000, as well as by the costs demonstrated by
Infomatec Media AG for acquisition of the shares in blaxxun interactive, Inc.

5.       VAR AGREEMENT

For the acquisition of licenses, the conclusion of a separate VAR Agreement is
hereby stipulated. In it, in particular the details of the strategic partnership
pursued, the details of the transfer of rights, and the details of the
collaboration in the area of sales shall be regulated.

6.       PERPETUATION OF SOFTWARE ON LINUX

Because of the strategic partnership with Infomatec Media AG to support its
Linux-based technology, blaxxun will aim for a platform-crossing (and thus also
a Linux) client solution and will make it the subject matter of the next major
product release. blaxxun assumes that a release date within a period of [**](2)
from the date of conclusion of this Agreement can be expected.

--------
(2) [**] Indicates that information has been omitted and filed separately with
the Commission pursuant to a request for confidential treatment.
<PAGE>   4
blaxxun sees this as a chance to expand its license business to the Linux worlds
and so it will not charge anything separately for this development expense.
Infomatec Media AG shall be given an opportunity to propose specific
requirements and to collaborate closely in the product test phase.

7.       CONFIDENTIALITY

(1)The parties are hereby obligated to keep strictly secret all information
   which they receive in connection with performance of the intended
   collaboration and which is of a technical, financial or otherwise commercial
   nature, as well as which relate to the composition, manufacture, application,
   marketing, product service, raw material purchasing sources, product
   customers or other details of the business operation of the parties
   (hereinafter "information") and not to pass it on to third parties. In
   addition, the parties are prohibited from using the information for purposes
   other than those expressly mentioned in this Agreement. The confidentiality
   agreement contained in this paragraph is not applicable to information which
   the parties have obtained from third parties in a legally permissible manner
   or which is public knowledge. The passing on of information to persons
   legally bound to maintain confidentiality (banks, accountants, etc.) is not
   detrimental.

(2)The parties shall see to it that their employees, representatives, or other
   persons who have access to the information are subject to the same
   confidentiality obligations as are set forth in the foregoing paragraph (1).

(3)Each party which violates one or more of the obligations mentioned in the
   aforementioned paragraphs (1) and (2) shall be obligated to pay to the party
   damaged by the corresponding violation of duty for each individual case an
   amount of EUR 50,000.00 as a minimum damage compensation. The right of the
   affected party to demand compensation for further damage suffered due to the
   violation of duty shall remain unaffected.

(4)Both parties are aware that, according to Section 12 and following of the
   Securities Act, the status of a primary insider may be applicable and the
   aforementioned law must be observed.

8.       NOTIFICATIONS

(1)Notifications which may or which must occur according to this Memorandum of
   Understanding shall be sent to the addresses mentioned on the title page of
   this Memorandum of Understanding.

(2)The parties shall inform one another mutually without delay about any
   changes which occur with respect to their addresses or communications
   systems.
<PAGE>   5
9.       APPLICABLE LAW AND JURISDICTION

(1)This Agreement and all obligations resulting therefrom, including possible
   damage compensation claims, shall be entirely subject to the laws of the
   Federal Republic of Germany.

(2)The exclusive place of jurisdiction for any disputes which may arise from
   this Agreement shall be Munich. The plaintiff shall also be entitled,
   moreover, to file a complaint with the competent courts for the registered
   office of the respondent.

Munich,                                              Augsburg,
February 25, 2000                                    February 25, 2000
         --                                                   --

[signature]                                          [signature]
blaxxun interactive AG                               Infomatec Media AG

Munich,
February __, 2000

[signature]
blaxxun interactive, Inc.<PAGE>   1
                                                                    EXHIBIT 10.8

                          MANAGING DIRECTOR'S AGREEMENT

                                     BETWEEN

                           BLACK SUN INTERACTIVE GMBH

with its seat in

                                Schillerstrasse 5
                                  80336 Munchen
                                     Germany

                       -hereinafter called "the Company"-

and

                           FRANZ WOLFGANG BUCHENBERGER

residing

                                Parchetwiesen 33
                                 82362 Weilheim
                                     Germany

                    -hereinafter called "Managing Director"-
<PAGE>   2
Managing Director's Agreement
between Black Sun Interactive GmbH and
Fraz Wolfgang Buchenberger

                                        1

                                     ART. 1
                           Duties and Responsibilities

1.       The Managing Director shall act as Managing Director (Geschaftsfuhrer
         bzw. Vorstand) of the Company. He shall represent the Company in
         accordance with the provisions of the Company's Articles of Association
         and the Shareholders' Resolution and the Mangement-By-Laws of the
         Company.

2.       The Shareholders shall have the right to appoint additional Managing
         Directors. The Shareholders shall determine the allocation of functions
         among the Managing Directors from time to time.

3.       The Managing Director shall conduct the Company's business in
         compliance with the provisions of the pertinent laws, the Articles of
         Association, the Company's Management Procedures ('Geschaftsordnung der
         Geschaftsfuhrer bzw. des Borstandes'), if any, and the Shareholders
         Resolutions.

         He will act as the Company's Chief Executive Officer ('CEO'). He will
         develop and maintain the vision of the Company. He will be responsible
         for the leadership and management of the Company. He will oversee
         marketing, product development, production and finance.

         The Managing Director shall adopt the Company's Management Procedures.

4.       The Managing Director shall devote his energy and experience
         exclusively to the Company. He shall not engaged in any other
         occupation, gainful or otherwise taking up a substantial amount of his
         time, or act as a member of a supervisory or advisory board or in a
         similar capacity, without prior approval of the Shareholder.

5.       The Managing Director shall not have the right to bestow advantages of
         any kind on himself, to Shareholders or affiliated persons or
         affiliated companies by contract or by unilateral declaration outside a
         duly made profit distribution resolution taken in the Shareholders'
         meeting.

6.       According to the Articles of Association, article 7, the Managing
         Director must obtain the prior consent of the Board for the following
         transactions:

                  a)       the adoption of the annual budget,

                  b)       the conclusion and termination of any rental, tenancy
                           and lease agreements as far as they concern
                           liabilities of more than DM 100,000.00 p.a. and as
                           far as they are not within the frame of the annual
                           budget as resolved by the Board,

                  c)       the purchase or sale of economic goods of the fixed
                           current assets, as far
<PAGE>   3
Managing Director's Agreement
between Black Sun Interactive GmbH and
Fraz Wolfgang Buchenberger

                                       -2-

                           as the respective investments are higher than DM
                           100,000.00 and as far as they are not within the
                           frame of the annual budget as resolved by the Board,

                  d)       the assumption of any obligations of any kind of more
                           than DM 100,000.00 as far as these exceed the current
                           business and as far as these obligations are not
                           covered by the annual budget as resolved by the
                           Board,

                  e)       any measures for the procurement of capital by
                           holding companies or the allocation of own resources
                           to holding companies in a different way; the
                           assumption of guarantees and the assumption of
                           liabilities on bills as well as the granting of
                           loans, the granting of loans to and the assumption of
                           liabilities for holding companies, if an amount of DM
                           200,000.00 is exceeded in the specific case,

                  f)       taking up of loans from DM 500,000.00 onwards as far
                           as they are not covered by the annual budget as
                           resolved by the Board; the issuance of bonds and
                           participating certificates

                  g)       the appointment and recall of Managing Directors of
                           subsidiaries as well as the conclusion, the
                           termination or the substantial alteration of
                           employment agreements of the Company and/or the
                           holding companies for Managing Directors with an
                           annual salary of more than DM 200,000.00,

                  h)       the new determination of the salary of the Managing
                           Director(s),

                  i)       the appointment and withdrawal of "Prokuren" (full
                           power of attorney) and commercial powers of attorney,

7.       According to the Articles of Association, article 9, paragraph 9, the
         Managing Director shall be subject to the prior approval of 90% of the
         votes of the Shareholders for the following transactions:

         a)       the purchase and sale of director or indirect participation in
                  other companies, the establishing of other companies as well
                  as the exclusion and merging of company functions to other
                  companies, the purchase, the sale and the creation of
                  encumbrances on real property and equivalent rights and/or any
                  kind of liabilities coordinated on such measures.

         b)       liquidation of the Company

         c)       increase of the Company's capital and changes of the articles
                  of association of the Company.
<PAGE>   4
Managing Director's Agreement
between Black Sun Interactive GmbH and
Fraz Wolfgang Buchenberger

                                       -3-

         It is the Shareholders' meeting's intent to achieve agreement between
         the Shareholders as broad as possible for all important businesses. In
         the event no majority can be achieved, the Board shall be competent to
         decide according to the Articles of Association article 8 no. 1.

8.       The list of actions the execution of which requires the prior approval
         of the Shareholders can be extended at any time or reduced by means of
         a Shareholder's resolution.

9.       The Managing Director is committed to present to the Shareholders'
         meeting, by the end of a fiscal year at the latest, a budget and
         investment plan for the following fiscal year, showing the
         to-be-expected current expenses classified by subjects, the planned
         investments and the financing proposed to cover the expenses.

                                     ART. 2
                            Commencement and Duration

1.       This contract shall become effective on September 1, 1995.

2.       Notwithstanding mandatory periods of notice set forth by German law
         either party may terminate the contract by given 3 (three) months
         written notice to the end of the calendar month.

3.       The right to termination without notice for good cause (Art. 626 German
         Civil Code) is not affected.

                                     ART. 3
                             Remuneration, Expenses

1.       The Managing Director will receive a base gross salary of DM 11,250.00
         per month (payable 12 times a year). The remuneration is to be paid at
         the end of each month.

2.       Additionally, the Managing Director shall receive bonus payments. The
         bonus will be agreed in July of each year for the following year
         between the parties.

         Bonus payments for 1995/1996 are as described in the attachment to this
         agreement.

3.       Expenses of the Managing Director in performing his duties under the
         contract, including travel and entertainment expenses, will be
         reimbursed in accordance with the German wage tax regulations
         (Lohnsteuerrichtlinien).

                                     ART. 4
                 Payment of Remuneration in the Event of Illness

In the event of the Managing Director's temporary incapacity due to illness or
of any other reasons for which the Managing Director is not responsible, the
remuneration acceding to Article
<PAGE>   5
Managing Director's Agreement
between Black Sun Interactive GmbH and
Fraz Wolfgang Buchenberger

                                       -4-

3 above will be continued to be paid for a period of six weeks. The Company's
payments will be continued beyond a period of six weeks or beyond the date of
termination of this contract.

                                     ART. 5
                                  Annual Leave

1.       The Managing Director shall be entitled to a paid annual leave of 30
         working days.

2.       If the Managing Director is not employed for the entire calendar year,
         then he shall only be entitled to the corresponding portion of the
         leave mentioned in paragraph 1.

3.       Vacation periods shall be agreed upon with the other Managing Directors
         bearing in mind the interest of the Company. If no further Managing
         Director was appointed, vacation has to be stipulated with the
         Shareholders.

                                     ART. 6
           Non-Disclosure, Non-Competition and Development Agreements

The Managing Director undertakes to observe utmost secrecy vis-a-vis third
parties regarding all matters pertaining to the Company's business. This
obligation continues after the termination of this agreement. The Managing
Director agrees to the Company's Non-Disclosure, Non-Competition and
Developments Agreements attached to this Manager's Employment Agreement and is
to sign said attachment.

                                     ART. 7
                               General Provisions

1.       Should any provisions of this contract be invalid, the remaining
         provisions shall nevertheless continue to be fully effective. It shall
         be the responsibility of the parties to replace the invalid provisions
         by a valid one which comes as near as possible to the parties' intended
         purpose.

2.       Modifications of this contract and supplements to this contract shall
         not be valid unless in writing. This shall also apply to any
         modification of the foregoing sentence.
<PAGE>   6
Managing Director's Agreement
between Black Sun Interactive GmbH and
Fraz Wolfgang Buchenberger

                                       -5-

3.       This contract is subject to German law.

Munich,
August 7, 1995

                           --------------------------
                           Fraz Wolfgang Buchenberger

                           --------------------------
                           Black Sun Interactive GmbH

Approved by the Members of the Board:

                           --------------------------
                              Chairman of the Board
                           Black Sun Interactive GmbH

Enclosures:
1 Non-Disclosure, Non-Competition and Developments Agreement

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