SETTLEMENT AGREEMENT
Dated as of May 13, 0000
XXXXX
XXXXXXX DISTRIBUTORS LTD
AND
HERBALLY YOURS
AND
XXXXXX XXXXXXXXX
SETTLEMENT AGREEMENT
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THIS SETTLEMENT AGREEMENT ("Agreement"), dated as of May 13, 2004 is by and
among Gateway Distributors Ltd., a Nevada corporation (Gateway), and Herbally
Yours an Arizona corporation (Herbally Yours)
Accordingly, and in consideration of the representations, warranties, covenants,
agreements and conditions herein contained, the parties hereto agree as follows:
1. All legal actions by Herbally Yours and Xxxxxx Xxxxxxxxx along with any
affiliates and / or related parties will immediately be terminated.
2. Release of liability for all future lawsuits related to the previous business
dealings will apply to both parties and all related parties of either side.
3. No Compete Clause. Both parities agree to developing marketing strategies
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to enhance each others business. Herbally Yours will refer all new business to
Gateway regarding CHF and GHF sales.
4. Herbally Yours agrees to manufacture products for Gateway and its clients.
The CHF product will be produced at $1.50 per unit. The cost of the GHF will be
determined once the formula is given to Herbally Yours to review.
6. Gateway will offer CHF to its customer base along with their existing
products.
7. Herbally Yours will change its current label to remove manufactured by the
makers of GHF.
8. Governing Law. This Agreement and the legal relations among the parties
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hereto shall be governed by and construed in accordance with the internal
substantive laws of the State of Nevada (without regard to the laws of conflict
that might otherwise apply) as to all matters, including without limitation
matters of validity, construction, effect, performance and remedies.
A good faith effort will be made on behalf of both parties to promote the sale
of both GHF and CHF using Gateway as the supplier and Herbally Yours as the
manufacturer.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as of the day and year first above written.
GATEWAY DISTRIBUTORS, LTD
By:____________________________ Date _____________
Xxxxxxx X. Xxxxxx,
President / CEO
HERBALLY YOURS
_______________________________ Date ____________
President
INDIVIDUAL
_______________________________ Date ____________
Xxxxxx Xxxxxxxxx
