Ex. 99.11
MUTUAL RELEASE AND INDEMNIFICATION AGREEMENT
This Mutual Release is made, this 22nd day of August, 2000, by and
between WORLDWIDE WEB NETWORX CORPORATION, a Delaware corporation with its
principal place of business located at 000 Xxxxxxxxxx Xxxx, Xxxxx 000, Xx.
Xxxxxx, XX 00000 (hereinafter referred to as "Company"); and XXXXXX
XXXXXXXXX, an individual (hereinafter referred as "Xxxxxxxxx").
WHEREAS, Xxxxxxxxx is currently serving as a director of the Company
and has been asked to continue to serve in that capacity until his successor
is elected and qualified at the next annual stockholders meeting; and
WHEREAS, Xxxxxxxxx and the Company desire to enter into this Mutual
Release.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged and conclusively established, the
parties agree as follows:
1. The Company, on its own behalf and on behalf of its successors
and assigns (collectively, for purposes of this Paragraph 1, the "Releasing
Parties"), does hereby remise, release and forever discharge Xxxxxxxxx, and
his heirs and personal representatives (collectively, for purposes of this
Paragraph 1, the "Released Parties"), of and from any and all manner of
actions and causes of action, suits, debts, dues, accounts, bonds, covenants,
contracts, agreements, judgments, losses, damages, liabilities, claims and
demands whatsoever in law or equity arising out of or relating, in any way,
to an action or inaction by Xxxxxxxxx while serving as a director of the
Company, or any other matter or thing whatsoever, which, against the Released
Parties, or any of them, the Releasing Parties, or any of them, ever had, now
have, hereafter can, shall or may have, from the beginning of the world to
the date of these presents, and hereby agrees to indemnify and hold harmless
Xxxxxxxxx, to the fullest extent permitted by law, for any action or
inaction of Xxxxxxxxx while serving as a director of the Company.
2. Xxxxxxxxx, on his own behalf and on behalf of his heirs and
personal representatives (collectively, for purposes of this Paragraph 2, the
"Releasing Parties"), does hereby remise, release and forever discharge the
Company, together with its officers, directors, employees, agents, successors
and assigns (collectively, for purposes of this Paragraph 2, the "Released
Parties"), of and from any and all manner or actions and causes of action,
suits, debts, dues, accounts, bonds, covenants, contracts, agreements,
judgments, losses, damages, liabilities, claims and demands whatsoever in law
or equity arising out of or relating, in any way, to the services performed by
Xxxxxxxxx as a director of the Company, or any other matter or thing
whatsoever, which, against the Released Parties, or any of them, the
Releasing Parties, or any of them, ever had, now have, hereafter can, shall
or may have, from the beginning of the world to the date of these presents.
3. Each party hereby acknowledges and agrees that;
(a) This Mutual Release is the free act and deed of such party,
and is made by it, after consulting with (or having the full opportunity to
consult with) legal counsel, without duress or coercion; and
(b) This Mutual Release sets forth the sole and entire agreement
between Xxxxxxxxx and the Company with respect to the subject matter hereof
and is made and given by such party without any representation, inducement,
agreement, promise or undertaking by the other party altering, modifying
taking from or adding to the terms and conditions hereof.
IN WITNESS WHEREOF, the parties have each duly executed this Mutual
Release on the date first above written.
/s/ Xxxxxx Xxxxxxxxx
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Xxxxxx Xxxxxxxxx
WORLDWIDE WEB NETWORK CORPORATION
By: /s/ Xxxxxx X. Drummm
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Name: Xxxxxx X. Xxxxx
Title: President
