Exhibit 99.8
MUTUAL RELEASE
This Mutual Release is made, this 22nd day of August, 2000, by and
between WORLDWIDE WEB NETWORX CORPORATION, a Delaware corporation with its
principal place of business located at 000 Xxxxxxxxxx Xxxx, Xxxxx 000, Xx.
Xxxxxx, XX 00000 (hereinafter referred to as "Company"); and XXXXXX XXXXXXXXX,
an individual (hereinafter referred as "Xxxxxxxxx").
WHEREAS, Xxxxxxxxx has served as an officer and director of the Company
and is currently serving as a director of the Company; and
WHEREAS, Xxxxxxxxx has submitted his resignation as a director of the
Company, conditioned upon and effective as of the effective date of the
resignation of Xxxxx X. Xxxxx as a director of the Company; and
WHEREAS, the Company has agreed to accept Xxxxxxxxx'x resignation as a
director of the Company; and
WHEREAS, Xxxxxxxxx and the Company desire to enter into this Mutual
Release, which shall become effective upon the effective date of Xxxxxxxxx'x
resignation as a director of the Company.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged and conclusively established, the
parties agree as follows:
1. The Company, on its own behalf and on behalf of its successors and
assigns (collectively, for purposes of this Paragraph 1, the "Releasing
Parties"), does hereby remise, release and forever discharge Xxxxxxxxx, and his
heirs and personal representatives (collectively, for purposes of this Paragraph
1, the "Released Parties"), of and from any and all manner of actions and causes
of action, suits, debts, dues, accounts, bonds, covenants, contracts,
agreements, judgments, losses, damages, liabilities, claims and demands
whatsoever in law or equity arising out of or relating, in any way, to an action
or inaction by Xxxxxxxxx while serving as an officer or director of the Company,
or any other matter or thing whatsoever, which, against the Released Parties, or
any of them, the Releasing Parties, or any of them, ever had, now have,
hereafter can, shall or may have, from the beginning of the world to the date of
these presents, and hereby agrees to indemnify and hold harmless Xxxxxxxxx, to
the fullest extent permitted by law, for any action or inaction of Xxxxxxxxx
while serving as a director of the Company.
2. Xxxxxxxxx, on his own behalf and on behalf of his heirs and personal
representatives (collectively, for purposes of this Paragraph 2, the "Releasing
Parties"), does hereby remise, release and forever discharge the Company,
together with its officers, directors, employees, agents, successors and assigns
(collectively, for purposes of this Paragraph 2, the "Released Parties"), of and
from any and all manner of actions and causes of action, suits, debts, dues,
accounts, bonds, covenants, contracts, agreements, judgments, losses, damages,
liabilities, claims and demands whatsoever in law or equity arising out of or
relating, in any way, to his employment by the Company and/or the services
performed by Xxxxxxxxx as an officer and director of the Company, or any other
matter or thing whatsoever, which, against the Released Parties, or any of them,
the Releasing Parties, or any of them, ever had, now have, hereafter can, shall
or may have, from the beginning of the world to the date of these presents.
3. Each party hereby acknowledges and agrees that;
(a) This Mutual Release is the free act and deed of such
party, and is made by it, after consulting with (or having the full opportunity
to consult with) legal counsel, without duress or coercion; and
(b) This Mutual Release sets forth the sole and entire
agreement between Xxxxxxxxx and the Company with respect to the subject matter
hereof and is made and given by such party without any representation,
inducement, agreement, promise or undertaking by the other party altering,
modifying, taking from or adding to the terms and conditions hereof.
4. This Mutual Release shall become effective upon the effective date
of Xxxxxxxxx'x resignation as a director of the Company.
IN WITNESS WHEREOF, the parties have each duly executed this
Mutual Release on the date first above written.
/s/ Xxxxxx Xxxxxxxxx
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XXXXXX XXXXXXXXX
WORLDWIDE WEB NETWORX CORPORATION
By: /s/ Xxxxxx X. Xxxxx
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Name: Xxxxxx X. Xxxxx
Title: President
