Exhibit 10.3
TERMINATION OF CONSULTING AGREEMENT
Agreement made and entered into as of June 30, 2005 between Innova
Holdings, Inc. (the "Company") and Stratex Solutions, LLC (the "Consultant").
Whereas, the Company and Consultant have entered into a Consulting
Agreement dated as of February 1, 2005 (the "Consulting Agreement").
Whereas, the Company and Consultant desire to terminate the Consulting
Agreement.
Now, therefore, for good and valuable consideration, the parties agree as
follows:
Effective as of June 14, 2005, and simultaneously with and conditioned
upon the execution by all parties of that certain Employment Agreement dated
June 30, 2005, between the Company and Xxxxxx Xxxxxxx (the "Employment
Agreement"), the Consulting Agreement is hereby terminated, and of no further
force and effect, except to the extent that certain stock options granted to
Consultant shall be subject to the provisions of the Employment Agreement.
In witness whereof, this Agreement is entered into as of the day and year
first above written.
INNOVA HOLDINGS, INC.
BY: /s/ Xxxxxx Xxxxxx
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Xxxxxx Xxxxxx, Chairman and CEO
STRATEX SOLUTIONS, LLC
BY: /s/ Xxxxxx Xxxxxxx
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Xxxxxx Xxxxxxx, President
