AGREEMENT IN SETTLEMENT OF DEBT
THIS AGREEMENT (the "Agreement") is entered into on June 13, 2001,
by and between LEGAL ACCESS TECHNOLOGIES, INC., FKA DYNAMIC
ASSOCIATES, INC., a Nevada corporation ("Dynamic"), and Grace Sim
and Xxx Xxxxxxx, Individuals ("Creditors").
R E C I T A L S:
---------------
WHEREAS, the Dynamic currently owes Creditors $126,138.71 of which
Dynamic owes Xxx Xxxxxxx $80,875.18 and Grace Sim $45,263.53; and
WHEREAS, the parties wish to settle this debt through the
distribution of Dynamic's Common Stock;
NOW, THEREFORE, in consideration of the premises and mutual
covenants contained in this Agreement and other good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties, intending to be legally bound hereby,
agree as follows:
1. Dynamic hereby agrees to issue Creditors the following shares
of common stock:
No. of Shares
-------------
Grace Sim 45,264
Xxx Xxxxxxx 80,875
2. In consideration of the issuance of common stock as described
in section 1 above, Creditors agree to forever release and remise
Dynamic and any of its assigns, successors, officers and directors
from any and all obligation on this debt. Creditors further
represent and warrant that they have no other claim, in any form,
against Dynamic at this time.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement
as of the date first above written.
Legal Access Technologies, Inc.
/s/ Xxxxxxx X. Cane
By: -------------------
Title: President
/s/ Grace Sim
-------------------
Grace Sim
/s/ Xxx Xxxxxxx
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Xxx Xxxxxxx
