EXHIBIT 10.2
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TERMINATION AND RELEASE AGREEMENT
Surgical Laser Technologies, Inc. ("Lessee") leased Unit T-2020 at the 422
Business Center (the "Premises"), under a Lease Agreement dated October 9, 1991
(the "Lease Agreement"), from Tioga Leasing Corporation, succeeded by Suburban
Management Co., Inc. ("Lessor") . Lessee vacated the Premises on November 22,
1996 so as to allow Lessor to let the space to the U.S. Post Office.
In consideration of the following promises, Lessor and Lessee hereby agree as
follows:
1. Lessee shall pay to Lessee its security deposit of $5,000 plus
interest, as provided in Section 29 of the Lease Agreement. Lessor
shall make such payment to Lessee upon the mutual execution of this
Termination and Release Agreement, without claims or offsets.
2. Lessee shall pay, upon the mutual execution of this Termination and
Release Agreement, rent in the amount of $13,310, and shall waive any
claim for refund of rent paid for the portion of November 1996 during
which Lessee had vacated the Premises.
3. The Lease Agreement shall be deemed terminated by mutual agreement
effective December 31, 1996.
4. Subject to the foregoing provisions of this Termination and Release
Agreement, Lessor and Lessee do hereby release and forever discharge
each other, their heirs, executors, administrators, agents,
shareholders, directors, officers, employees, subsidiaries and
affiliates, from any and all claims, demands, costs, expenses, losses
or liabilities arising from the Lease Agreement.
IN WITNESS WHEREOF, Lessor and Lessee, intending to be legally bound hereby,
have hereunder set their hand this the day of January 1997.
Lessee Lessor
SURGICAL LASER TECHNOLOGIES, INC. SUBURBAN MANAGEMENT CO. INC.
By: /s/ Xxxxxxx X. Xxxxxxx By: /s/ Gene Call, Vice President
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Xxxxxxx X. Xxxxxxx, Xxxx Call, Vice President
Vice President
Attest: Attest:
By: /s/ Xxxxx Xxxxxxxx By:
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Xxxxx Xxxxxxxx, Secretary
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