EXHIBIT 4.6
SETTLEMENT AGREEMENT
This Settlement Agreement made as of February ____, 1999 by and between
NATIONAL BOSTON MEDICAL, INC., a Nevada corporation, with offices at 00 Xxxxxxx
Xxxxx, 0xx Xxxxx, Xxxxxxx, Xxxxxxxxxxxxx 00000 ("NBM") and XXXXX XXXXXXXXX AND
AUCKLAND TRUST CO. LIMITED AS TRUSTEE FOR FIRST PACIFIC MASTER SUPERANNUATION
FUND (collectively referred to herein as "XXXXXXXXX").
In exchange for the consideration described herein as well as other good
and valuable consideration the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree to the following:
A. NBM shall pay XXXXXXXXX and XXXXXXXXX shall accept the following payments
from NBM as full and final payment of all sums due XXXXXXXXX by NBM with no
additional interest accruing thereon:
1. $50,000 March 1, 1999
2. $75,000 April 1, 1999
3. $75,000 May 1, 1999
4. $70,000 May 31, 1999
With no penalty for prepayment of any sum due herein.
X. XXXXXXXXX shall execute a General Release of all claims in favor of NBM
upon payment of all sums listed above.
C. Upon initial payment of $50,000 by NBM to XXXXXXXXX, and receipt of same by
XXXXXXXXX, XXXXXXXXX shall immediately cause any and all attachment of NBM
assets or accounts to be lifted.
D. Also upon receipt of initial payment of $50,000 by NBM to XXXXXXXXX,
XXXXXXXXX shall immediately cause the Ex Parte Motion for Injunction
Ordering that Monies Received by the Defendant be Placed in Escrow (the
"Motion") to be re- scheduled for April 2, 1999 or as soon thereafter as is
practical. Upon timely payment of the amount due April 1, 1999 ($75,000),
XXXXXXXXX shall immediately cause the Motion to be re-scheduled for May 3,
1999 or as soon thereafter as is practical. Upon timely payment of the
amount due May 1, 1999 ($75,000), XXXXXXXXX shall immediately cause the
Motion to be re-scheduled for June 1, 1999 or as soon thereafter as is
practical. Upon timely payment of the amount due May 31, 1999 ($70,000),
XXXXXXXXX shall immediately cause the Motion to be withdrawn in its
entirety, and the cause of action filed by XXXXXXXXX against NBM to be
dismissed with prejudice.
E. NBM to provide unaudited financial statements of NBM to XXXXXXXXX upon
execution by XXXXXXXXX of a confidentiality/non-disclosure statement
acceptable
to NBM and contemporaneous to the execution of this Agreement. The
confidentiality/non-disclosure statement shall provide that NBM's financial
statements will not be disclosed by XXXXXXXXX to any 3rd party, but also
that XXXXXXXXX shall be able to rely upon them and utilize them only for
purposes of this litigation.
Should the foregoing terms meet with your approval, please acknowledge such
by affixing your name hereto.
NATIONAL BOSTON MEDICAL, INC. XXXXX XXXXXXXXX
By: /s/ Xxxxxx Xxxxx By: /s/ Xxxxx XxXxxxx
------------------------------- -----------------------------
Xxxxxx Xxxxx, co-CEO/Chairman Xxxxx XxXxxxxxx
AUCKLAND TRUST CO. LIMITED AS
TRUSTEE FOR FIRST PACIFIC MASTER
SUPERANNUATION FUND
By: /s/ KG Whitney
-------------------------
KG Whitney, Director
