EXHIBIT 10.01
TERMINATION AGREEMENT
This Agreement is dated for reference on October 23, 2001
BETWEEN:
IDAHO CONSOLIDATED METALS CORP., a company having its business office
at Xxxxx 000, 0000 Xxxxxx Xxxxxx, Xxxxx, XX, X0X 0X0
(hereinafter referred to as "Idaho")
AND:
CRYSTALLEX INTERNATIONAL CORPORATION, a company having its business
office at Xxxxx 000, 000 Xxxx Xxxxxx Xxxxxx, in the City of Vancouver,
in the Province of British Columbia.
(hereinafter referred to as "Crystallex")
WITNESS THAT WHEREAS:
A. Idaho and Crystallex entered into a Management Services Agreement
(hereinafter referred to as the "Crystallex Agreement") on the 10th day
of January, 2001;
B. Pursuant to Clause 12(b) of the Crystallex Agreement, Crystallex has
given written notice of termination and the parties wish to document
the termination on the terms and conditions hereinafter appearing.
NOW THEREFORE THIS AGREEMENT witnesses that in consideration of the mutual
covenants and agreements hereinafter set forth, the parties agree with one
another as follows:
1. The Crystallex Agreement is hereby terminated effective November 15,
2001. The parties agree that the options granted to Crystallex by Idaho
shall remain in good standing until November 15, 2002 at which time the
options shall terminate and be of no further force or effect.
2. The parties confirm that as at November 15, 2001 the monthly fees
payable by Idaho to Crystallex pursuant to services to be provided by
Crystallex to Idaho shall terminate and Idaho shall have no further
obligation to Crystallex other than in relation to the options referred
to above.
IN WITNESS WHEREOF the parties have executed this Agreement as of the day and
year first above written.
IDAHO CONSOLIDATED METALS CORP.
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CRYSTALLEX INTERNATIONAL CORPORATION
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