AURIGA LABORATORIES, INC. 10635 SANTA MONICA BLVD. #120 LOS ANGELES, CA 90025
00000
XXXXX XXXXXX XXXX. #000
LOS
ANGELES, CA 90025
September
19, 2007
[Vendor
name & address]
Dear
Sir/Ma’am:
This
letter indicates the agreement of Auriga Laboratories, Inc. to resolve any
and
all outstanding invoices or other moneys in full and final payment of moneys
owed by Xxxxxx to your company in exchange for the following
Auriga
shall pay the equivalent of the moneys owed your company of
$__________
in
common stock of the company. The number of shares to be issued is calculated
by
taking the closing price per share on the date Xxxxxx’s board approves the grant
(which is anticipated to be September 26th)
and
dividing by the amount owed. These shares will be issued to you and registered
on a registration statement allowing you to sell them. The proceeds from these
sales will be used to pay down your balance.
If
for
some reason, the proceeds from your sales do not cover the amount owed to you,
Xxxxxx shall cover any additional balance owed by either paying in cash or
issuing additional stock, depending upon the circumstances. It is anticipated
that you would be able to determine this within 90 days.
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Very
Truly Yours,
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Xxxxx
Xxxxxx
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Chief
Financial Officer
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AGREED
& ACCEPTED BY:
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Print
Name:
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Title:
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