FORM OF 8-K
EXHIBIT 10.10
FORM OF 8-K
On February _____, 2012, Acacia Automotive, Inc. (“the Company”) and its Chief Executive Officer, Xx. Xxxxxx X. Xxxxxx (“Mr. Xxxxxx”) entered into a global Settlement and Release Agreement (the “Agreement”) concluding its litigation with Xx. Xxxx Xxxxxx (“Xx. Xxxxxx”) and Mr. Xxxxx Xxxxx (“Xx. Xxxxx”).
Legal and equitable claims were asserted by the Company and Mr. Xxxxxx against Xx. Xxxxxx and Xx. Xxxxx in the United States District Court for the Southern District of Ohio, Case No. 2:10-cv-995. Similarly, claims were asserted by Xx. Xxxxxx and Xx. Xxxxx against the Company and Mr. Xxxxxx in that action.
All claims by the Company, Mr. Xxxxxx, Xx. Xxxxxx, and Xx. Xxxxx have been dismissed by agreement of the respective parties, and all parties have released the others from any known or unknown causes of action. The Company and Messrs. Xxxxx and Xxxxxx acknowledge that neither the Company nor Mr. Xxxxxx were found by the Court to have committed any misdeeds and that neither Xx. Xxxxxx nor Xx. Xxxxx were found by the Court to have breached their fiduciary duties to the Company.
The Settlement does not constitute an admission by the Company, Mr. Xxxxxx, Xx. Xxxxxx, or Xx. Xxxxx of any liability or violation of law.
The parties agreed to a mutual non-disparagement agreement and release from any liabilities or future litigations.