TERMINATION AGREEMENT dated the 16th day of February, 1999.
BETWEEN:
AZTEK, INC., a body corporate duly incorporated in the State of Nevada and
having an office at Xxxxx #0, 000 Xxxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxx Xxxxxxxx,
X0X 0X0
(the "Company")
OF THE FIRST PART
AND:
________________ of _____________________________________-
(the "Director")
OF THE SECOND PART
WHEREAS the Company and the Director entered into an agreement dated June
19, 1998, providing for the acquisition by the Director of _________________
(_________) shares of Common Stock (the "Bonus Shares") of the Company, at a
price of $0.01 per share (the "Investment Letter").
AND WHEREAS the Company and the Director wish to terminate the Investment
Letter and cancel the Bonus Shares subscribed for by the Director.
NOW THEREFORE the parties hereto agree as follows:
1. The Investment Letter entered into between the Company and the Director be
and is hereby terminated and the Bonus Shares subscribed for by the Director
be canceled forthwith and returned to the status of authorized but unissued
shares of the Company.
2. All funds received by the Company from the Director in payment of the
purchase price of the Bonus Shares shall be credited to the Director as a
shareholder loan.
3. Time shall be of the essence of this Agreement.
4. The parties to this Agreement shall execute and deliver any documents and
perform any acts necessary to carry out the intent of this Agreement.
5. This Agreement shall enure to the benefit of and be binding upon the
parties to this Agreement and their heirs, executors, administrators,
successors and permitted assigns.
IN WITNESS WHEREOF the parties have hereunto caused these presents to be
executed as of the day and year first above written.
EXECUTED AND DELIVERED BY
AZTEK, INC.
By:
"Xxxxx Xx"
Authorized Signatory
SIGNED, SEALED AND DELIVERED
in the presence of:
Name