EXHIBIT 10.3
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MUTUAL RELEASE
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For valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, Danvers Investment Corp. ("Danvers"), Amexcorp Ltd. ("Amex"),
Xxxxxx Xxxxx and Xxxx Xxxxxx, each for itself and himself and, in the case of
Danvers and Amex , on behalf of their officers, directors, shareholders, and
affiliates, hereby forever RELEASE and DISCHARGE Saf T Lok Incorporated, a
Florida corporation located at 0000 Xxxxxxxxxx Xxxxxxx, Xxxx Xxxx Xxxxx, Xxxxxxx
00000 ("STL"), together with its officers, directors, shareholders, employees,
representatives, successors, assigns, attorneys and affiliates, of and from all
manner of actions, causes of action, suits, debts, damages, and demands
whatsoever, in law or equity, that they, their shareholders, officers, directors
and affiliates, have, had, or hereafter can, shall or may have upon, or by
reason of any matter, cause or thing whatsoever, from the beginning of the world
to the day of the date of this RELEASE.
For valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, STL, for itself and on behalf of its officers, directors,
shareholders, and affiliates hereby forever RELEASE and DISCHARGE each of
Danvers and Amex, together with each of their officers, directors, shareholders,
employees, representatives, successors, assigns, attorneys and affiliates, and
the individual persons Xxxxxx Xxxxx and Xxxx Xxxxxx, of and from all manner of
actions, causes of action, suits, debts, damages, and demands whatsoever, in law
or equity, that STL, its shareholders, officers, directors and affiliates, has,
had, or hereafter can, shall or may have upon, or by reason of any matter, cause
or thing whatsoever, from the beginning of the world to the day of the date of
this RELEASE.
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This Mutual Release is being made in New York and is to be governed by the
laws of such jurisdiction. Any dispute arising hereunder shall be resolved in
the courts of such state.
AGREED this 18th day of May, 1999.
DANVERS INVESTMENT CORP. SAF T LOK INCORPORATED
By: /s/ By: /s/ Xxxxx Xxxxxx
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Name:________________________ Name: Xxxxx Xxxxxx
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Its:_________________________ Its: Chairman
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AMEX CORP LTD.
By: /s/
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Name:________________________
Its:_________________________
/s/ Xxxxxx Xxxxx /s/ Xxxx Xxxxxx
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XXXXXX XXXXX XXXX XXXXXX
