RE: Periodic Equity Investment Agreement, dated December 8, 2008
Exhibit 99.1
Xx. Xxxxxxx X. Xxxxxxx, Xx.
President
Cumorah Capital, Inc.
0000 XxXxxx Xxxxx, Xxxxx 000
Xxx Xxxxx, Xxxxxx 00000
February 18, 2010
RE: Periodic Equity Investment Agreement, dated December 8, 2008
Dear Xxxx:
As we discussed by phone today, Cumorah Capital, Inc. (“Cumorah”) and Cereplast, Inc. (“Cereplast”) have agreed to formally terminate the Periodic Equity Investment Agreement, dated December 8, 2008 (the “PEIA”), effective February 18, 2010. As compensation for early termination of the PEIA, Cereplast will issue to Cumorah 100,000 shares of Cereplast restricted common stock.
Thank you for your assistance in resolving this matter.
Kind regards,
Xxxxxxxx Xxxxxx
Chairman
Chief Executive Officer
Agreed and Accepted this day of February 2010
Cumorah Capital, Inc.
By
