Exhibit 10.4
THIS AGREEMENT is made as of the 12th day of November, 2001.
AMONG:
XXX XXXXXX, an individual residing in the City of
Toronto, Ontario
OF THE FIRST PART
- and -
B TWELVE LIMITED, a corporation incorporated under
the laws of the Province of Ontario
OF THE SECOND PART
WHEREAS:
A. The parties hereto have entered into an Employment Agreement dated the
14th day of June, 2001, and an Option Agreement dated the 1st day of
June, 2001 (the "Agreements").
B. The parties have agreed to terminate the Agreements effective as of
November , 2001 (the "Effective Date").
NOW THEREFORE that in consideration of the premises and of the
respective covenants and agreements hereinafter contained and other good and
valuable consideration (the receipt and sufficiency whereof is hereby
acknowledged by the parties hereto), the parties hereto covenant and agree each
with the other as follows:
1. Each of the parties hereto hereby agrees to terminate the
Agreements and the same are hereby terminated effective as of
the Effective Date. Each party hereby forever discharges the
other from any and all of its covenants and obligations
contained in or arising under the Agreements.
2. This Agreement may be signed in counterparts and each of such
counterparts shall constitute an original document and such
counterparts, taken together, shall constitute one and the
same instrument.
3. The provisions of this Agreement shall enure to the benefit of
and be binding upon the parties hereto and their respective
heirs, executors, administrators, successors and permitted
assigns.
IN WITNESS WHEREOF the parties have executed this Agreement as
of the day and year written above.
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Xxx Xxxxxx
B TWELVE LIMITED
Per:
Name:
Title:
