Exhibit 10.24
Settlement Agreement with Frontier Communications, Inc.
August 17, 1998
Xxxxxxx X. Xxxxxxx, Esq.
Xxxxxx, Xxxxxxx & Xxxxx
000 Xxxxxxx Xxxxx
Xxxxxxxxx, Xxx Xxxx 00000
Re: Frontier Communications International, Inc. v. Digitec 2000, Inc.
Dear Xxx:
As per the terms of the settlement agreement that we reached on
August 6, 1998, Digitec will pay Frontier $150,000.00 via wire transfer, on or
before the close of business on September 7, 1998. Digitec will pay Frontier the
remaining $50,000.00 via wire transfer, on or before the close of business on
September 22, 1998. The transfer of funds should be made to the account of
Frontier Communications International, Inc., at Marine Midland Bank, Rochester,
New York. The pertinent transfer information is as follows:
Credit account number: 590 838 814
ABA routing number: 021 001 088
In response to your letter dated August 6, 1998, regarding the
release of the UCC-1's currently filed by Frontier against Digitec, please
prepare and forward to me the necessary documentation for our review and
execution.
I have enclosed the following for signature by your client:
Affidavit of Confession of Judgment, Release, and Stipulation Discontinuing
Action. Please have them executed and return them to me at your earliest
convenience. We will hold these documents in escrow pending receipt of the
September 22, 1998 payment. As soon as Frontier executes the Release, I will
forward it to you.
Very truly yours,
/s/ Xxxxxxx X. Xxxxxx
---------------------
Xxxxxxx X. Xxxxxx
MDN/atb
Enclosures
cc: Xxxxxxxx X. X'Xxxxx, Esq.
