SEPARATION AGREEMENT
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This SEPARATION AGREEMENT ("AGREEMENT"), between Xxxxx Xxxxxxxxx, referred to as
"FU", and Xxxxxxxxxxxx.xxx, Inc., a Wyoming corporation, referred to as
"COMPANY"
W I T N E S S E T H:
A. WHEREAS, COMPANY is a corporation organized under the laws of
Wyoming.
B. WHEREAS, FU and the COMPANY are willing to terminate all
business relationships.
C. WHEREAS, the FU shall forgive and release the Corporation for
any and all claims or entitlements for all employment issues.
D. WHEREAS, COMPANY and FU will benefit from the transactions
contemplated hereby and desire to implement the contemplated
transaction.
NOW, THEREFORE, it is agreed among the parties as follows:
DEFINITIONS
"Effective Date" The effective date of this agreement shall be the 16th
day of October 2002.
"Employment
Contract" All contracts for employment between FU and the
corporation.
TERMS
FU will immediately resign his positions as Chairman of the Board and Secretary.
CLAIMS
IN CONSIDERATION of TEN DOLLARS CDN ($10), the forgiveness to the COMPANY, in
the amount claimed by FU, the receipt and sufficiency of which is hereby
acknowledged, both parties forever release, remise and discharge each other,
their subsidiaries, affiliates, predecessors, successors, divisions, joint
ventures, business partners, parent companies and related companies, and all of
their officers, directors, employees, agents, insurers, heirs, executors and
assigns, jointly and severally from any and all actions, causes of action,
contracts (whether express or implied), claims and demands for damages, loss or
injury, suits, debts, sums of money, indemnity, expenses, interest, costs and
claims of any and every kind and nature whatsoever, at law or in equity, which
against each other have ever had, now have, or can hereafter have by reason of
or arising out of any cause or causes whatsoever existing up to and inclusive of
the date of this Release, including, without limiting the generality of the
foregoing, in connection with the COMPANY;
UNDERSTANDING
AND WE HEREBY DECLARE that we have had the opportunity to seek independent legal
advice with respect to the matters addressed in this Release and the terms of
settlement which have been agreed to by the FU and the COMPANY and that we fully
understand this Release and the terms of settlement. We have not been influenced
by any representations or statements made by or on behalf of the COMPANY. We
hereby voluntarily accept the said terms for the purpose of making full and
final compromise, adjustment and settlement of all claims as aforesaid.
COMPLETE AGREEMENT
We understand and agree that this Release and the Settlement Agreement attached
hereto contain the entire agreement between the FU and the COMPANY and that the
terms of this Release and the Settlement Agreement are contractual and not a
mere recital.
SEPARATED EMPLOYEE:
To: Xxxxx Xxxxxxxxx
0000 Xxxxxxxxx Xx. Xxxx
Xxxxxxx, Xxxxxxx, X0X 0X0
COMPANYS:
To: Xxxxxxxxxxxx.xxx, Inc.
000-000 Xxxxxxxxx Xxxxxx
Xxxxxxx, Xxxxxxx, X0X 0X0
or such other addresses as shall be furnished in writing by any party, and any
such notice or communication shall be deemed to have been given as of the date
received.
IN WITNESS WHEREOF, the parties have set their hands this 16th
day of October 2002
_______________________________
Xxxxx Xxxxxxxxx
COMPANY:
X _____________________________
Xxxxxxxxxxxx.xxx, Inc.
