Document:

<PAGE>

                                                                    Exhibit 10.7

THIS AGREEMENT IS MADE THE 13/TH/ DAY OF AUGUST 1999

Between

(1)  The Prudential Assurance Company Limited ("Prudential") and
(2)  Sports Fitness and Leisure Limited ("SFL")

DEFINED TERMS

The Association               The Association to be set up by SFL, membership of
                              which shall be required by employees and employers
                              involved in the sports fitness and leisure
                              industries as a prerequisite to becoming a member
                              of the Pension Scheme and to the receipt of other
                              membership services and benefits. Members of the
                              Association shall neither have nor be entitled to
                              any beneficial interest in SFL nor right to vote
                              or to otherwise participate in the ownership,
                              management or operation of SFL.

Confidential Information      All information relating to either party and to
                              all concepts, ideas and information relating to
                              this Agreement but excluding information
                              .    Publicly available or which becomes publicly
                                   available otherwise than due to a breach of
                                   this Agreement; or
                              .    Which, when disclosed by one party to the
                                   other, was already known to the party to whom
                                   it was then disclosed.

The Database                  The computer software mentioned in clause 2.2
                              designed, owned and operated by SFL for the
                              storing of Association membership information.

Service Fee                   The service fee shall be (Pounds)1,158,736 plus
                              VAT. (Pounds)273,604,77 has been paid and the
                              remainder will be payable as follows:
                              (i)   (Pounds) 85,131 on signing of this Agreement
                              (ii)  (Pounds)200,000 on 1/st/ August 1999
                              (iii) (Pounds)200,000 on 1/st/ February 2000
                              (iv)  (Pounds)200,000 on 1/st/ August 2000
                              (v)   (Pounds)200,000 on 1/st/ February 2001
                              In each case, VAT at the then appropriate rate
                              will be added.

The Financial Budgets         The financial forecasts mentioned in clause 2.18.

The Insurance Policy          The insurance policy to be issued to the Scheme
                              Trustees which sets out the terms under which
                              Prudential will administer the Pension Scheme and
                              insure its benefits

                                       1
<PAGE>

The Marketing Plans           The plans to be delivered in line with clause
                              2.10.

The Member Services           The services which the Association provides to its
                              members.

The Pensions Lounge           A section of the Web-Site devoted solely to the
                              provision of information about pension provision
                              and the Pension Scheme.

The Pension Scheme            The SFL Pension Scheme referred to in recitals 5
                              and 6.

The Promotional Materials     Advertising, marketing or promotional materials in
                              any form prepared by or on behalf of SFL for use
                              in connection with the provision of Marketing
                              Services and the Pension Scheme.

The Scheme Trustees           The trustee or trustees for the time being of the
                              Pension Scheme.

Prudential Marks              All trade marks, copyright, registered or
                              unregistered design, trademark or other industrial
                              or intellectual property rights, working methods
                              or rights of a similar nature subsisting and any
                              applications for the foregoing and any goodwill
                              relating thereto belonging to Prudential or any of
                              its group companies.

SFL Marks                     All trademarks, copyright, registered or
                              unregistered design, trademark or other industrial
                              or intellectual property rights, working methods
                              or rights of a similar nature subsisting and any
                              applications for the foregoing and any goodwill
                              relating thereto belonging to SFL or any of its
                              associated companies.

The Web-Site                  The internet Web-Site mentioned in clause 2.2
                              designed by SFL which shall provide information
                              about inter alia the Association, the Pension
                              Scheme and Membership Services.

Prudential Support Services   As detailed in Parts 1-3 of Section B of
                              Schedule 1.

BACKGROUND

     1.   SFL is a company providing services and products to employees and
          employers working within sports, fitness and leisure industries.

     2.   In 1995, SFL commenced discussions with Government Ministers with
          regard to welfare and pens on reform. In October 1997, SFL presented
          to Prudential a plan for a Pension Scheme to be made available to
          employees of members of an association of employers of people working
          in the sports fitness and leisure industries. SFL has an extensive
          client base and contacts with the sports, fitness and leisure
          industries. Prudential recognises the commercial potential for sales
          of pensions to association members and wishes to work with SFL to
          develop the full

                                       2
<PAGE>

          potential for sales of pensions (and possibly other products) within
          the sports, fitness and leisure market.

     3.   Prudential sees SFL as an important constituent part of its "Project
          Leapfrog" strategy in view of its ability to:

          (i)  Offer expertise and industry contacts to develop and market an
               industry wide Pension `Scheme' (and possibly other financial
               products) to the sports, fitness and leisure industries.

          (ii) Create, develop and produce ideas in connection with the sale of
               industry wide "membercentric" based pensions and other financial
               services.

     4.   In addition to providing development and promotional expertise SFL
          will administer the Association. It will enter into agreements with a
          number of companies whereby they, in conjunction with SFL, will market
          and provide services and products to members of the Association.

     5.   As part of the project, Prudential and SFL wish to jointly set up,
          market and administer, a money purchase occupational Pension Scheme,
          to be approved by the Inland Revenue under chapter I of an XIV of the
          Income and Corporation Taxes Act 1988.

     6.   It is intended that the Pension Scheme should be a centralised scheme
          for non-associated employers within the sports, fitness and leisure
          industries and will be the major product in the range offered by the
          Association. Presently, and for the purposes of this Agreement, only
          the employees of employers who have valid corporate membership of the
          Association will be offered membership of the Pension Scheme, the
          intention being that such employees first become members of the
          Association.

     7.   Prudential shall administer the Pension Scheme in accordance with the
          terms of the Insurance Policy and shall promote and market it with
          SFL. SFL shall arrange for the appointment of Scheme Trustees for the
          Pension Scheme.

OPERATIVE TERMS

     1.   OBLIGATIONS OF PRUDENTIAL

     1.1. Subject to the terms of this Agreement, to pay SFL the service Fee as
          agreed herein.

     1.2. To prepare the legal documentation and use its best endeavours to
          obtain all necessary approvals required in connection with the Pension
          Scheme.

     1.3. To invest contributions received and administer the Pension Scheme in
          accordance with the terms of the Insurance Policy and service level
          agreement to be agreed with the Scheme Trustees and SFL. For the
          avoidance of doubt,

                                       3
<PAGE>

          Prudential" liability in respect of administration and other matters
          under the Insurance Policy is to the Scheme Trustees alone.

     1.4. Prudential's charges (and the right to amend them), its requirements
          in respect of minimum investment and other terms relevant to the
          administration and insurance of the Pension Scheme will be described
          in the Insurance Policy.

     1.5. To use its best endeavours to maintain the accuracy of information
          relating to the Pension Scheme contained in any written material(s)
          issued to members of the Association or Pension Scheme, or otherwise
          featured in the Pensions Lounge SFL has the right to approve (such
          approval not to be unreasonably withheld) any feature, article or
          information presented by Prudential for inclusion in the Pensions
          Lounge or elsewhere on the Web-Site.

     1.6. To comply with regulations and requirements which apply to it in the
          execution of this Agreement.

     1.7. No sum payable to SFL will be paid to SFL by Prudential unless the
          work carried out by SFL is in all respects in compliance with the
          terms of this Agreement.

     1.8. Prudential will be contractually bound to the Scheme Trustees to
          administer the Pension Scheme in line with the Insurance Policy. Its
          duties shall include the following responsibilities:

          .    Prudential will register the Scheme with the Pension Scheme
               Registry and pay the relevant membership fees and levies (general
               and compensation scheme).

          .    In addition it will prepare a draft Scheme Trustees annual report
               for consideration and use by the Pension Scheme auditors, which
               will include confirmation as to whether or not contributions have
               been paid in accordance with the statutory payment schedules.

          .    Prudential will monitor all contributions in line with the
               payment schedules and will inform the Scheme Trustees where
               missed or late payments have occurred or, if agreed, with the
               Scheme Trustees, Prudential will send such details directly to
               the Occupational Pensions Regulatory Authority on behalf of the
               Scheme Trustees.

          .    For such period as all members contributions are invested in the
               Insurance Policy the Pension Scheme will (subject to any changes
               in the legislation) be treated as an "earmarked scheme" within
               the meaning of the Occupational Pension Schemes (requirement to
               certain audited accounts and a statement from the auditor)
               Regulations 1996 (SI 1996/1975) and as such there will be no
               legal requirement for the Scheme Trustees to produce annual
               audited accounts. Prudential will in any event produce an annual
               employer summary setting out contributions paid and details of
               the fund value in respect of each member of the Pension Scheme.
               If Prudential fails to meet any part of its obligations under
               this clause it will be responsible for the reasonable fees of

                                       4
<PAGE>

               the Pension Scheme auditors incurred by the Scheme Trustees in
               carrying out the required work.

     1.9.  Where Prudential request and authorise SFL to provide Marketing
           Services or Promotional Materials in addition to those set out in the
           Marketing Plans to pay SFL the fees, payments, costs, disbursements
           and/or expenses and expended by, or in respect of which liability has
           been incurred by SFL in connection therewith. These charges will be
           discussed and agreed in advance.

     1.10. To use in best endeavours to develop and supply to SFL by April 2001,
           if not sooner and at no cost to SFL (save for costs involved in any
           necessary changes to SFL's computer systems, which work SFL undertake
           to carry out at its own cost) the computer technology and software
           necessary to provide a fully working "live" electronic link or
           "interface" between the Prudential Administrative Database and
           Pension Scheme members through the SFL Web-Site, including ensuring
           that Prudential's and SFL's computer systems/software can communicate
           or "talk together" for these purposes. For the avoidance of doubt,
           Prudential will not be liable to pay any sums to SFL or their agents
           in respect of such matters.

           The interface will enable SFL members using a computer modem to
           access directly on line and in an encrypted and secure manner, inter
           alia records of their benefits under the Pension Scheme and other
           information as agreed between Prudential and the Scheme Trustees. The
           Prudential will consult and liase with SFL in the development of the
           interface and will keep SFL fully and regularly appraised of progress
           and of any changes in the projected date for installation of the
           interface.

           If prior to April 2001, Prudential supply an interface to and/or for
           the use of another centralised scheme, in a form which can be used by
           members of the Association and SFL without significant alteration
           Prudential undertakes to supply such interface to SFL as soon as
           reasonably practicable.

           In the absence of the above interface being available by July 2001,
           SFL's only remedy will be to reduce required milestone figures for
           Pension Scheme membership in schedule 2 to such reasonable levels as
           Prudential can administer without such interface (which, for the
           avoidance of doubt, will be at least 1500 new members per month
           subject to and depending upon Prudential continuing to allocate the
           required presentation and sales staff to deal with such volume of
           prospective members). When the interface is subsequently available
           the original Pension Scheme membership milestone figures will again
           apply, but with an appropriate period of deferment to correspond with
           the delay in delivery of the interface.

     1.11. Prudential agrees that SFL can pay for its legal costs in the
           development of this agreement and the confidentiality agreement out
           of the service fee, to a maximum of (Pounds)14,500 plus VAT.

                                       5
<PAGE>

     1.12.  To provide the support services and personnel set out in Parts 1-3
            of Section B "Marketing Services" of Schedule 1, at no cost to SFL.
            For the avoidance of doubt, Prudential will not be liable to pay any
            sums to SFL or their agents in respect of such matters.

     1.13.  To use its best endeavours to ensure that SFL Membership Application
            forms and Pension Scheme application forms are completed by
            employers and/or employees and are returned forthwith to SFL for
            administrative processing.

     2.     OBLIGATIONS OF SFL

     2.1.   To develop the Association and, as its major product, the Pension
            Scheme with Prudential as an industry wide occupational pension plan
            for sale to and promotions in the sports, fitness and leisure
            industries, and in particular to carry out the specific actions set
            out in clause 2.2.

     2.2.   (i)  To create, develop and maintain the Web-Site and Database in
                 accordance with the specifications contained in parts 2 and 3
                 of Schedule 1.

            (ii) To design software which will enable members to access
                 information in connection with Member Services and, when the
                 necessary secure interface is supplied as per clause 1.10 will
                 permit members direct on line access to records of their
                 benefits under the Pension Schedule.

     2.3.   To use its best endeavours to ensure the information stored in the
            Database and provided in the Web-site is accurate and reliable.

     2.4.   To make the Web-site available for inspection by the members of the
            Association through the Internet.

     2.5.   To commence the promotion and marketing of the Pension Scheme and
            membership of the Association in and to the sports, fitness and
            leisure industries upon signing the Agreement.

     2.6.   Subject to the provisions of clause 1.10, to use its best endeavours
            to achieve the targets set for membership growth in the "SFL
            Milestones Programme" in Schedule 2 to this Agreement. SFL will
            provide Prudential with details (and such reasonable proof as
            Prudential shall require) of Association membership numbers and
            levels in connection with this and Prudential's other reasonable
            auditing requirements.

     2.7.   To administer the Association and carry out the Marketing Services
            specified in Part I Schedule I and to carry out the tasks described
            in each Marketing Plan within any time scales agreed. SFL may
            instruct a third party or third parties to carry out particular
            tasks. However SFL shall be responsible for keeping to time scales
            and for the quality of such work. SFL will keep expenses and
            payments due in respect of marketing activities broadly in line with
            any agreed Marketing Plan.

                                       6
<PAGE>

     2.8.  To provide information and assistance to Association members about
           Association and Pension Scheme membership and about Member Services
           and products.

     2.9.  To take all reasonable steps to ensure that copyright and any other
           intellectual property rights over the Web-site are owned by SFL or
           where appropriate to seek any necessary licenses or assignments and
           that ownership of the source code of the SFL computer program used to
           set up the Web-Site will pass to SFL should the person or persons who
           develop and own the source code suffer any act to be done whereby
           that ownership would otherwise pass to a third party.

     2.10. To provide Prudential, on a quarterly basis, with a Marketing Plan
           which will include detailed information on such matters as Prudential
           shall reasonably require in respect of activities planned for the 12
           month period following issue of the particular Marketing Plan. Each
           will include the following:

           (i)  Details of all planned marketing activities.

           (ii) Details of all planned advertising campaigns.

           Prudential accepts that circumstances can occur which may necessitate
           adjustments or changes having to be recommended and/or made by SFL in
           the projected Marketing Plans and activities. Any such adjustments
           shall be subject to Prudential approval and consent, which shall not
           be unreasonably withheld.

     2.11. To consult Prudential in the development of the Promotional Material
           for use in connection with the provision of the Marketing Services
           relating to the Pension Scheme, and all material (including anything
           featured in the Web-site) of any nature for use in connection with
           the Pension Scheme (unless the materials is purely for internal use
           by SFL). No such material may be used without prior approval by
           Prudential. Such approval (which is not to be unreasonably withheld)
           shall be confirmed (or reasonable objections notified) within 3
           working days of the receipt by Prudential of the Promotional
           Material. Such approval will be subject to SFL providing such
           supporting evidence as Prudential may reasonably require as to the
           accuracy and source of any particular information in the Promotional
           Material presented for approval.

     2.12. SFL will consult Prudential in the design and development of the
           Pension Lounge and all material featured in it. Which shall not be
           made available on the Internet until Prudential has approved its
           design and content, such approval not to be unreasonably withheld.

     2.13. To share with Prudential income paid from, and dependent upon ,
           membership fees paid by active members of the Pension Scheme, to
           maximum of (Pounds)1,626,875 including VAT. This will be paid by
           installments on July 31/st/ of each year from 2000, as described in
           more detail in the Milestones Programme set out in Schedule 2.

                                       7
<PAGE>

     2.14.  SFL will provide Prudential with copies of the minutes of SFL Board
            Meetings or parts thereof relating to the Pension Scheme.

     2.15.  SFL will allow Prudential access to all SFL and Association
            accounting books and records of prime entry, management accounts and
            other accounting records which Prudential may reasonably required to
            see in connection with the Pension Scheme.

     2.16.  Within one month of commencement of this Agreement, SFL will appoint
            its solicitor, Michael Dale, and its accountant, Nicholas Roach as
            directors; and they will remain directors unless replaced by another
            solicitor in the case of Michael Dale or a chartered accountant in
            the case of Nicholas Roach (in either case the replacement to be
            approved by Prudential, such approval not being unreasonably
            withheld). This provision shall not restrict or prevent or otherwise
            affect any statutory rights or duties the aforementioned may have or
            exercise in their capacity as directors of SFL.

     2.17.  SFL will produce Financial Budgets every quarter, commencing October
            1999. These will be disclosed to Prudential, and SFL will keep its
            expenditure broadly in line with the forecast set out in these
            budgets.

     3.     TRADE MARKS

     3.1.   SFL MARKS

     3.1.1. SFL Marks are and will remain the property of SFL or its associated
            companies and may not be used by Prudential save in accordance with
            3.1.

     3.1.2. The use of or reference to SFL Marks by Prudential shall be subject
            to the prior written permission of SFL. SFL Marks shall not be
            changed or altered in any regard save with SFL's prior written
            permission.

     3.1.3. SFL has the right to change or alter any SFL Marks. In the event
            that any such changes or alterations necessitate adjustments or
            corrections to the details on the Web-Site or Database or in
            Promotional Material relating to the Pension Scheme, SFL shall bear
            the costs thereof.

     3.1.4. At SFL's expense Prudential shall take all steps which SFL may
            require from time to time to be necessary to protect SFL Marks.

     3.2.   PRUDENTIAL MARKS

     3.2.1. Prudential Marks are and will remain the property of Prudential or
            its group companies and may not be used by SFL save in accordance
            with 3.2

     3.2.2. The use of or reference to Prudential Marks by SFL shall be subject
            to the prior and written permission of Prudential. Prudential Marks
            shall not be changed or altered in any regard save with Prudential's
            prior written permission.

                                       8
<PAGE>

     3.2.3.  Prudential and its group of companies have the right to change or
             alter any Prudential Marks. In the event that Prudential notifies
             SFL of any change in the form of manner of use of any Prudential
             Marks, SFL shall at Prudential's expense, effect the required
             changes and shall destroy all documentation bearing the old
             Prudential Marks.

     3.2.4.  At Prudential's expense, SFL shall take all steps which Prudential
             may require from time to time to consider to be necessary to
             protect Prudential Marks.

     4.      INTELLECTUAL PROPERTY

     4.1.    Ownership of any pre-existing intellectual property rights shall
             remain unaffected by this Agreement.

     4.2.    Intellectual and copyright in the Association, Database, Web-site
             and source code shall belong to SFL. Intellectual Property and
             copyright in all material produced in connection with the Pension
             Scheme will belong to the Scheme Trustees, save where previously
             owned by SFL or Prudential, produced by SFL or Prudential, or where
             based on a Prudential standard form, in which case it will belong
             to SFL or Prudential as appropriate but the Scheme Trustees will
             have licence in perpetuity to use the same for the purpose of the
             Pension Scheme.

     4.3.    Each party will take all reasonable steps to protect the
             intellectual property rights of the other and will execute such
             assignments or other documents as the other party may reasonably
             require to ensure that party's rights are fully registered and/or
             protected. Prudential shall bear any expenses and costs incurred by
             SFL in taking action as requested by Prudential under this Clause.
             SFL shall bear any expenses and costs incurred by Prudential in
             taking action as requested by SFL under this Clause.

     5.      CONFIDENTIAL INFORMATION

     5.1.    All Confidential Information shall remain the property of the party
             to whom it initially belongs. Each party shall maintain the secrecy
             of the Confidential Information and shall not use or disclose it or
             permit its use or disclosure to any of its employees or third party
             except in accordance with the Confidentiality Agreements signed by
             the parties herein.

     6.      COMPLIANCE OBLIGATIONS

     6.1.    Each party is responsible for ensuring the accuracy of all facts
             supplied by it to the other party concerning matters relating to
             this Agreement.

     6.2.    SFL is not responsible for but will use its best endeavours to
             ensure the accuracy of any material or information supplied by
             third parties appearing in the Web-Site or any Promotional
             Materials. It will provide Prudential with such supporting evidence
             as it may reasonably require as to the accuracy of any such
             materials or information.

                                       9
<PAGE>

     6.3.  Each party is responsible for ensuring that all work it carries out
           in accordance with this Agreement is performed in accordance with and
           complies with all relevant statutes, regulations, statutory
           instruments or other applicable laws, and with any relevant rules of
           professional practice or regulatory authority.

     6.4.  SFL shall take all reasonable steps to ensure that the content of the
           Promotional Materials shall not infringe any codes of practice,
           copyright or other rights of any third party nor will be defamatory.

     6.5.  Prudential shall be responsible for ensuring Promotional Materials
           relating to the Pension Scheme given to it for approval comply with
           all relevant compliance regulations and rules.

     6.6.  SFL will keep Prudential indemnified against any claim arising from
           any activity undertaken by SFL under the terms of this Agreement
           which concerns, in relation to any third party, a defamation,
           infringement of copyright or other intellectual property rights
           passing off or similar matter, or the wrongful use or disclosure of
           Confidential Information.

     6.7.  Prudential will likewise keep SFL indemnified against similar claims
           against SFL arising out of any such activity undertaken by
           Prudential.

     7.    COMPETITION

     7.1.  During the currency of this Agreement Prudential will not promote any
           other centralised Pension Scheme of the type described in recital 6
           targeted generally at employers and employees within the sports,
           fitness and leisure industries. However, it may provide pension
           arrangements for individual employers and employees within those
           industries. It may also promote and provide other centralised schemes
           to Association or groups who are not predominantly involved or active
           within the sports, fitness and leisure industries but who may have
           individual members who are provided such schemes are not targeted
           solely or mainly, at employers and employees in the sports, fitness
           and leisure industries.

     7.2.  During the currency of this Agreement SFL and the Association will
           not promote or provide in the sports, fitness and leisure industries
           any pension which competes with the Pension Scheme.

     8.    DATA PROTECTION

     8.1.  If any of the activities undertaken by either party ("the user")
           involves the gathering, holding or use by it of any "personal data"
           which is subject to data protection legislation, it will

           .   Advise the other party of any requirements under the legislation
               affecting the other party and of any restriction affecting the
               other party and of any restrictions affecting the use or
               disclosure of the data

                                       10
<PAGE>

           .   Comply at all times with the legislation and any relevant
               principles, guidelines and guidance issued as part of the
               legislation or from time to time by the Data Protection Registrar
               (or the holder of any office which replaces that of the Data
               Protection Registrar) and maintain any necessary registrations
               under the legislation.

           SFL and Prudential agree to amend this contract to cover such
           additional data protection requirements as SFL and/or Prudential may
           reasonably require.

     9.    RELATIONSHIP OF THE PARTIES

     9.1.  Subject to clause 1.3 Prudential will administer the Pension Scheme
           in accordance with the terms of the Insurance Policy. SFL is
           primarily responsible for marketing and promotional matters and for
           administration of the Association. The parties are not partners for
           the purposes of this Agreement and neither shall they be treated as
           the agent of the other.

     10.   TERMINATION

     10.1. The parties may terminate this Agreement by mutual consent.

     10.2. Without affecting any other rights or remedies they may have, either
           party may terminate this Agreement on giving 28 days notice in the
           event that either party commits any material breach of any of its
           obligations hereunder and (if the same is capable of remedy) shall
           not remedy such breach within 30 days of being required by written
           notice to do so. Such periods may be varied by agreement between the
           parties.

     10.3. In addition this Agreement may be terminated:

           (i) By Prudential or SFL if Prudential is replaced as the insurer or
               administrator of the Pension Scheme. In the event of a
               termination, the party terminating shall give 28 days notice of
               its intention to terminate, and Prudential shall pay to SFL any
               sums due or incurred by SFL or to which they are committed which
               (in each case) have been agreed by Prudential and a portion of
               the next installment of the service fee due after the said
               notice, pro rated over 4 months from the date of the said notice;
               or

          (ii) By Prudential if SFL fails to substantially meet the "Milestones"
               target figures for new Pension Scheme members set out in Schedule
               2 or, in the absence of agreement with Prudential to keep
               expenditure substantially in line with the forecast in any
               relevant Financial Budget or Marketing Plan.  In this event
               Prudential shall give 28 days notice of its intention to
               terminate and shall pay to SFL any sums due or incurred by SFL or
               to which they are committed which (in each case) have been agreed
               by Prudential.

                                       11
<PAGE>

     10.4.  In the event that Prudential or SFL terminate the Agreement but
            Prudential remains the insurer and administrator of the Pension
            Scheme under the Insurance Policy:

            (i)  existing pension Scheme members shall have the right and option
                 to have Prudential continue to manage and administer their
                 pensions without surcharge, penalty or other disadvantageous
                 terms being imposed.

            (ii) Prudential shall remain responsible for the levies and fees as
                 per clause 1.8.

     10.5.  If either party is in breach of this Agreement then the other party
            (whether or not it terminates the Agreement) will be entitled to:

            .  Damages (and to such other remedy as may appropriate) from the
               party in breach in respect to any loss or injury sustained as a
               result of the breach; and

            .  To set off any such losses it has sustained against any sum it is
               liable to pay to the party in breach.

            However, the parties agree that their liability to each other under
            this Agreement (in addition to any sums specifically stated to be
            due elsewhere in this Agreement) be limited to (Pounds)50,000.

     11.    VARIATIONS

     11.1.  No variation of this Agreement shall be enforceable by either party
            unless it is in writing signed on behalf of both parties.

     12.    NO ASSIGNMENTS

     12.1.  Neither party may assign or otherwise transfer its rights or
            obligations under this Agreement without obtaining the written
            consent of the other party.

     13.    SEVERABILITY AND CUMULATION OF REMEDIES

     13.1.  If the whole or any part of this Agreement is held to be invalid,
            such invalidity shall not affect the validity of any other
            provision. All remedies available to either party under this
            Agreement are cumulative and may be exercised together or
            separately, and are in addition to any other remedies that may be
            available to either party at law.

     14.    NOTICES

     14.1.  All notices sent under this Agreement shall be in writing and sent
            to the address of the other party is set out below, or such other
            address as may have been provided (by notice in writing) to the
            sending party subsequently.

                                       12
<PAGE>

            Prudential:  The Prudential Assurance Company Limited
                         Abbey Gardens
                         55 Kings Road
                         Reading, RG1, 3AH
                         Marked "FAO MPP Administration (SFL Pension Scheme)"

            SFL:         P.O. Box 144
                         Romsey
                         S051 9XU

     14.2.  A "notice in writing" shall include a copy sent by facsimile
            transmission and service shall be deemed to have been made:

            (i)    on the date of delivery by hand

            (ii)   three days after posting by first class post, or

            (iii)  on the date of transmission of a facsimile (provided the
                   sending party can produce suitable proof of successful
                   transmission).

            Provided that if any notice is not received during normal business
            hours, service will be deemed to be received on the next working
            day.

     15.    DISPUTES

     15.1.  This Agreement shall be governed by and construed in accordance with
            English Law. The courts of England shall have exclusive jurisdiction
            to settle any dispute that arises out of or in connection with this
            Agreement.

     16.    HEADINGS

     16.1.  The headings in this Agreement are for convenience only and shall
            not affect the construction or interpretation of any term.

     17.    WAIVER

     17.1.  No waiver of any breach under this Agreement shall amount to a
            waiver of any other prior or subsequent breach, and no party's
            rights shall be affected by any delay, failure or omission to
            enforce or express forbearance granted in respect of any obligation
            of the other party.

     18.    NON-APPLICATION OF COLLATERAL MATERIAL

     18.1.  Save where stated otherwise, this Agreement comprises the entire
            Agreement between the parties in respect of its subject matter. It
            supersedes all (whether oral or written) previous statements made by
            either party and all previous agreements, understandings and
            arrangements.

                                       13
<PAGE>

     19.    FORCE MAJEURE

     19.1.  Neither party shall be liable to the other for non-performance of
            its obligations (other than an obligation to pay money) if and to
            the extent that such non-performance is or has been delayed,
            hindered, interfered with, curtailed or prevented by any
            circumstances beyond its control, or by legislative or
            administrative interference, or compliance with any law,
            regulations, order or request of any governmental authority or
            person purporting to be or act for any such authority; or by fire,
            explosion, strikes or other labour disputes or other civil
            disobedience.

     20.    VOID UNENFORCEABLE OR ILLEGAL PROVISIONS

     20.1.  If any provision of this Agreement is or subsequently becomes void,
            unenforceable or illegal that shall not affect the validity,
            enforceability or legality of the other provisions of the remainder
            of this Agreement.

     21.    DURATION

     21.1.  It is accepted that new terms setting out ongoing responsibilities
            will be needed once Prudential has received the sums due to it under
            clause 2.13 and Schedule 2 and the Pension Scheme membership figures
            under Schedule 2 have been reached. At that point the parties will
            re-negotiate the Agreement in good faith, each party making all
            reasonable efforts to agree terms which not only meet its own
            reasonable requirements but the reasonable requirements of the other
            party. The parties will refer any areas of disagreement to the
            Centre for Dispute Resolution for the purpose of mediation. If
            agreement cannot be reached, any party which has negotiated in good
            faith as set out above may terminate the agreement on giving 3
            months notice. A maximum period of 12 months in total shall be
            permitted for such renegotiation and mediation efforts. The terms of
            the Confidentiality Agreement signed by the parties, and any other
            terms expressly stated to survive termination will continue to have
            effect.

IN WITNESS whereof the parties hereto have caused this Agreement to be duly
executed the day and year first above written.

______________________________

Capacity  ____________________

SIGNED for and on behalf of
The Prudential Assurance Company Limited

                                       14
<PAGE>

_______________________________

Capacity    ___________________

SIGNED for and on behalf of
Sports Fitness Leisure Limited

                                   SCHEDULE 1
                                   ----------

                                     (A) SFL
                                     -------

                               Marketing Services
                               ------------------

                                 Part 1: General
                                 ---------------

1.       The analysis of the objectives of the Association.

2.       The creation, development and production of ideas and recommendations
         for the advertising and promotion of Member Services (and in particular
         the Pension Scheme).

3.       The making of arrangements with third parties where necessary to allow
         Promotional Materials to be produced.

4.       The planning, conduct and negotiations of contracts with third parties
         providing media space or time for advertising including (but not
         limited to) the owners of newspapers, magazines, billboards, radio and
         television stations and film or video production.

5.       The monitoring of advertising placed to ensure its quality.

6.       Carrying out and interpreting market research necessary to carry out
         the Marketing Services properly.

7.       The planning and organization of exhibitions, trade fairs and similar
         activities promoting and advising members (and potential members) of
         the Association about the Association, the Member Services in general
         and the Pension Scheme in particular.

8.       The Production from time to time of marketing strategies, which will
         describe the intended marketing and promotional activities expected to
         be introduced over a stated period of time together with any subsequent
         amendments.

                              Part 2: The Web-Site
                              --------------------

1.       The Web-Site will allow Association members to access in a
         user-friendly manner a full description of the Association and all
         services available to members.

2.       It will include separate suites for each of the services including the
         Pensions Lounge.

3.       Each suite shall include a full description of the particular service
         and the options available.

4.       The Pensions Suite will allow employer members of the Association to
         download information about the Pension Scheme to assist and enable
         employers to decide whether or not to join the Pension Scheme as an
         associated employer, and shall give members of the Pension Scheme
         information about the Pension Scheme, its benefits and options.

5.       The design of and information contained in the Pensions Lounge and all
         changes to it will be the joint responsibility of Prudential and SFL,
         and subject to sign-off by both parties.

6.       SFL will regularly review the information contained in the Web-Site and
         will renew, update and amend it as and when necessary. It will use its
         best endeavours to ensure any material featured in the Web-Site is
         accurate and compliant with any legal requirements.

                              Part 3: The Database
                              --------------------

1.       The Database will contain details of Association members' and
         employers' names and addresses and such other membership information as
         may be needed to facilitate the objectives of the Association.

                                 (B) Prudential
                                 --------------

                               Marketing Services
                               ------------------

                                 Part 1: General
                                 ---------------

1.       Analysis of the objectives of Prudential's partnership with SFL in
         connection with the development of the Pension Scheme.

2.       Liaising with SFL Marketing team, providing SFL with support from and
         access to Prudential personnel and resources set up in connection with
         the Pension Scheme including the "teams" or departments responsible for
         "PR", sales, administration, "telecentre", and "external" resources,
         consultants etc retained by the Prudential, that can provide help to
         SFL/Prudential in developing the project.

3.       PR Team.  Providing Prudential staff to assist and support the SFL
         project, to be coordinated jointly by SFL and Prudential.

4.       Sales Team.  Prudential staff coordinated by the Prudential Corporate
         Pensions division and trained in conjunction with SFL to carry out
         sales presentations to staff members of SFL corporate members,
         presenting the project under the direction and supervision of SFL.

5.       Administration Team. Prudential staff tasked with the administration of
         the Pension Scheme and the servicing of members' pension enquiries.
         Operational procedures and service standards and training to be agreed
         with SFL. Telephone enquiries to be handled by a team trained in
         conjunction with SFL.

6.       External consultants. Where Prudential deems appropriate to provide SFL
         with the services of external consultants retained by Prudential to
         assist in the development, marketing, promotion and sales of the SFL
         Pension Scheme and project.

7.       Use of, where necessary and available, Prudential's internal events and
         promotional departments for design and production of materials.

8.       To appoint a liaison officer dedicated to co-ordinating the SFL
         project.

9.       Subject to availability, the provision of materials, stands, technology
         and equipment from time to time as required by SFL at strategy events
         to assist and support the provision of Marketing Services.

                                Part 2: Web-Site
                                ----------------

1.       Prudential will use its best endeavours to ensure the accuracy of, and
         to maintain and keep operative accurate and compliant all information
         held and/or featured within the Pensions Lounge of SFL's Web-Site in
         connection with the Pensions Scheme and/or related services and
         products.

                             Part 3: The "Interface"
                             -----------------------

1.       Prudential considers the development of "e-commerce" as a crucial
         element in "Project Leapfrog" and is committed to developing the
         associated computer technology and software, in particular an
         electronic link or interface with SFL in connection with the Pension
         Scheme.

2.       Prudential acknowledges the installation of the interface is regarded
         by SFL as crucial to its ability to maintain the attractiveness and
         competitiveness, and thereby its ability to promote and sell,
         membership of the Association and the Pension Scheme.

         Prudential will use its best endeavours to develop and supply to SFL by
         July 2001 a computer interface in line with and subject to the terms of
         Clause 1.10.

                                       15<PAGE>

                                                                    EXHIBIT 10.8

                             TERMINATION AGREEMENT
                             ---------------------

     AGREEMENT dated as of July 20, 2000 by and between e-commerce group Inc., a
Nevada corporation ("ECGM") and Greenfield Ventures Ltd., a United kingdom
corporation ("GVL").

     WHEREAS, ECGM and GVL are parties to (i) that certain Memorandum of
Agreement, dated as of October 25, 1999, pursuant to which ECGM retained GVL to
provide executive recruitment services (the "Recruitment Agreement"), and (ii)
that certain Memorandum of Agreement, dated as of October 25, 1999, pursuant to
which ECGM retained GVL to identify acquisition targets (the "Acquisition
Agreement," and, together with the Recruitment Agreement, the "Prior
Agreements");

     WHEREAS, the parties have determined that it is no longer in their
respective best interests to continue the relationship contemplated under the
Prior Agreements and desire to be released from their respective continuing
obligations as contained in the Prior Agreements;

     NOW, THEREFORE, in consideration of the promises and other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto hereby agree as follows:

1.   Effective as of the date hereof, and except as otherwise expressly
continued herein, the Prior Agreements shall terminate and all rights and
obligations of the parties under the Prior Agreements will cease.

2.   Within thirty (30) days of the date hereof, ECGM will issue to GVL a
warrant (the "Warrant") to purchase 70,000 shares of ECGM Common Stock, $.001
par value (the "Common Stock"), which Warrant shall be exercisable for a period
of one year from the date of issuance at an exercise price of US$1.00 per share.
The Warrant and the Common Stock issuable upon exercise thereof (the "Shares")
are "restricted securities" as that term is defined under the United States
Securities Act of 1933, as amended (the "Act") and ECGM shall have no obligation
to register either the Warrant or the Shares under the Act.
<PAGE>

3.   Within fourteen (14) days of the commencement of the employment of
Jeremy Payne as Chief Financial Officer of ECGM, ECGM will (i) pay to GVL
US$25,000 in immediately available funds, and (ii) issue to GVL a warrant (the
"Additional Warrant") to purchase 25,000 shares of ECGM Common Stock, which
Additional Warrant shall be exercisable for a period of one year from the date
of issuance at an exercise price of US$1.00 per share. The Additional Warrant
and the Common Stock issuable upon exercise thereof (the "Additional Shares")
are "restricted securities" as that term is defined under the Act and ECGM shall
have no obligation to register either the Additional Warrant or the Additional
Shares under the Act. It is hereby acknowledged and agreed by GVL that the
receipt of the consideration described in this Section 3 is expressly
conditioned upon the commencement of Jeremy Payne's employment with ECGM and
that should Jeremy Payne not be appointed to the position of Chief Financial
Officer of ECGM or decline to accept such appointment, ECGM shall have no
obligation to make the cash payment provided in this Section 3 or to issue the
Additional Warrant to GVL.

4.   Effective upon GVL's receipt of the Warrant described in Section 2 above,
GVL hereby releases ECGM, its officers, directors, shareholders, and any and all
associated parties or agents, and EGGM hereby releases GVL, its officers,
directors, shareholders and any and all associated parties or agents from their
respective continuing obligations under the terms and conditions of the Prior
Agreements and GVL hereby forever waives and relinquishes any rights to payment
or otherwise GVL now has or hereafter could have under the terms of the Prior
Agreements. In that regard, and without limiting the generality of the
foregoing, GVL expressly acknowledges that it is not entitled to, and shall make
no claim against ECGM for, any compensation under the Acquisition Agreement in
respect of the acquisition by ECGM of Sports Fitness & Leisure, Ltd. or the
acquisition by ECGM of any other entity with which ECGM is currently engaged in
acquisition discussions. Further, ECGM and GVL hereby release and forever
discharge each other from and against all payments, debts, damages, actions,
causes of action, claims, demands, obligations, losses, liabilities, liens and
encumbrances, costs and expenses which such parties have had, now have or
hereafter could have against each other arising out of or in connection with any
prior or continuing obligations contained in the Prior Agreements.

5.   Effective upon GVL's receipt of the consideration described in Section 2
above, ECGM and GVL hereby agree that the Recruitment Agreement and the
Acquisition Agreement are each hereby terminated in their entirety, with no
further force and effect, and that any other agreements between the parties,
whether express or implied, shall also terminate and be of no further force and
effect.
<PAGE>

6.   ECGM and GVL each agree not to make any disparaging or derogatory
comments about the other party (including such party's officers, directors,
shareholders, employees or family members, and any and all associated parties or
agents, as applicable), except to the extent required by law, and then only
after consultation with the other party to the maximum extent possible in order
to maintain goodwill for each of the parties. Further, the parties agree that
any breach of this Section 6 will cause substantial and irreparable damage to
the other and therefore in the event of any such breach or threatened breach, in
addition to such other remedies which may be available, either party shall be
entitled to preliminary and permanent injunctive relief, without having to post
bond and without the necessity of showing actual monetary damage, subject to
hearing as soon as possible, to enforce the obligations contained in this
Section 6.

7. Miscellaneous.
----------------

7.1. This Agreement and all disputes arising hereunder shall be governed by and
construed in accordance with English law and the parties hereby submit to the
exclusive jurisdiction of the English courts.

7.2. This Agreement constitutes the entire agreement and understanding between
the parties hereto conerning the subject matter hereof and supersedes and
replaces all prior negotiations, proposed agreements and agreements, written or
oral. The parties agree that neither they or any of their representatives,
agents, attorneys or any other associated parties or agents have made any
promises, representations or warranties whatsoever, express or implied, which
are not specifically set forth herein, and neither party has executed this
Agreement in reliance upon any such promises, representations or warranties.

7.3. This Agreement may not be modified or terminated except by written
agreement of the parties hereto, nor may any provision hereof be waived, except
by a written waiver, signed by the waiving party. The waiver of any provision or
breach of this Agreement will not prevent subsequent enforcement and will not be
deemed a waiver of any subsequent breach.

7.4. This Agreement may not be assigned without the prior written permission of
the parties. This Agreement shall be binding upon and inure to the benefit of
the parties hereto, their permitted successors and assigns.

7.5. This Agreement is entered into by and between the parties and for their
benefit. There is no intent by any party to create or establish third party
beneficiary status or rights in any third party to this Agreement and no such
third party shall have any right to enforce any right or enjoy any benefit
created or established under this Agreement.
<PAGE>

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date first written above.

e-commerce group, Inc.                       GREENFIELD VENTURES LTD.

By: /s/ Tony Arnold                          By: /s/ Timothy Taylor
    ------------------------------------         -----------------------------
    Tony Arnold, Chief Executive Officer         The Title: Managing Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00013-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00013-of-00352.parquet"}]]