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EXHIBIT 10.15
This Agreement is executed between Xxxxxxx Xxx Xxx Man Of Apt 1C, 37 Island
Road, Deep Water Bay, Hong Kong ("the Executive) and Supply Chain Services
Limited, a company incorporated in Hong Kong with registered number 669329 whose
registered office is at 31 View Xxxxx House, 00 Xxx Xxxxx Xxxxxx, Xxxxxxx, Xxxx
Xxxx ("the Company"), as of the last date indicated below upon which it has been
executed by both parties.
This Agreement is made with reference to the following facts:
A. The Executive and the Company entered into an agreement dated 20 March
1999 ("the Employment Agreement") by which the, Company has employed
the Executive in the capacity of Business Development Manager of the
Company.
B. Pursuant to the Employment Agreement, the, Executive is entitled to
receive from the Company the basic salaries in the sum of HK$585,000
for services rendered in the period from I January 2000 to 31 December
2000. The Executive, however, has only received from the Company basic
salaries in the sum of HK$273,000 in the said period leaving the basic
salaries of HK$312,000 unpaid ("the Unpaid Salaries").
C. The Executive and the Company desire to fully and finally resolve by
this Agreement all claims, payments or other matters arising out of or
in connection with the Unpaid Salaries.
THEREFORE, the parties agree, in consideration of the mutual agreements
herein contained. as follows:
1. The Executive, for and on behalf of herself and her personal
representatives, successors and assigns, does hereby waive, release
and forever discharge the Company and its successors and assigns from
any and all claims, rights, benefits, interests, costs, expenses,
damages, and actions, of whatever kind or nature, whether in law or in
equity, whether known or unknown, which the Executive has had, may now
have or may hereafter have against the Company for or by reason of any
occurrence, matter or thing through and including the date hereof
which arises out of or in connection with any of the Unpaid Salaries.
2. Without prejudice to the generality of the foregoing, it is expressly
agreed and accepted by each of the parties to this Agreement that this
Agreement is and is intended to be a general release of all claims of
the Executive in respect of the subject matter of this Agreement
including those claims which the Executive did not know or suspect to
exist in her favour at the time of executing this Agreement, even if
such claim, if they had been known to her, could have affected the
terms of the settlement reached between the parties as contained in
this Agreement. To the extent that legislation or any principles of
law might provide otherwise than the first sentence of this clause,
such legislation and principles are (to the extent permitted by law)
hereby expressly waived and excluded by the Executive who admit to
full knowledge and understanding of the consequences and effect of
such waiver and exclusion.
3. The Executive warrants to the Company that she has not assigned,
charged or in any other way dealt with or disposed or purported to
deal with her rights or interests in the Unpaid Salaries.
4. In the event that any provision of this Agreement should be held void,
voidable or unenforceable, the remaining portions shall remain in full
force and effect.
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5. This Agreement contains the entire agreement of the parties to settle
the Unpaid Salaries referred to herein, and expresses the entire
agreement between the parties in relation to the subject matter of
this Agreement.
6. This Agreement shall be effective when each party has executed it.
7. This Agreement shall inure to the benefit of, and shall be binding
upon, the successors and assigns of the parties hereto, and each of
them.
8. For the avoidance of doubt, it is hereby declared and confirmed that
save as herein otherwise provided in this Agreement, all the terms and
conditions of the Employment Agreement shall continue in full force
and effect.
9. This Agreement shall be construed and enforced in accordance with the
laws of Hong Kong.
Signed, Scaled and Delivered )
By Xxxxxxx Xxx Xxx Man )
in the presence of:- ) /s/ Xxxxxxx Xxx Wai Man
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Dated:
SEALED with the COMMON SEAL of )
Supply Chain Services Limited )
Xxxxxx Xxx Xxx Xxxxx )
in the presence of: - ) /s/ Xxxxxx Xxx Xxx Xxxxx
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Dated:
