SCHEDULE "D"
RELEASE
APPLIED COURSEWARE TECHNOLOGY INC., XXXXXX XXXXXXXX, XXXX
XXXXXXXX and XXXXXX XXXXXXXX (the "Releasors") in consideration of the sum of
TWO DOLLARS ($2.00) and other good and valuable consideration, the receipt and
sufficiency of which consideration is hereby acknowledged, do and subject to the
terms of a Settlement Agreement dated January 7, 2000, hereby remise, release
and forever discharge INFOCAST CANADA CORPORATION and INFORCAST CORPORATION (the
"Releasees") its officers, directors, employees, agents, successors and assigns
of and from all manner of actions, causes of action, suits, debts, dues,
accounts, bonds, covenants, contracts, claims and demands whatsoever which
against the said Releasees the Releasors ever had, now has or which its
successors or assigns, or any one of them, can, shall or may have for or by
reason of any cause, matter or thing whatsoever existing up to the date of this
release, whether known or unknown, and specifically including, notwithstanding
the generality of the foregoing, all claims or defences arising out of or
related to the Releasors' claims for damages under a Share Purchase Agreement
dated May 13, 1999 (the "Share Purchase Agreement") and an Escrow Agreement
dated May 13, 1999, and all other agreements, instruments and documents related
to the Share Purchase Agreement, including, without limitation, the Transaction
Documents (as that term is defined in the Share Purchase Agreement).
The Releasors further agree not to make any claims (including
any cross-claim, counter-claim, third party claim, action or application)
against any person or corporation who might claim contribution or indemnity
against the Releasees.
It is understood and agreed that the said payment is deemed to
be no admission whatsoever of liability on the part of said Releases.
IN WITNESS WHEREOF, APPLIED COURSEWARE TECHNOLOGY INC. has
hereunto affixed its corporate seal under the hands of its proper signing
officers duly authorized in that behalf and XXXXXX XXXXXXXX and XXXX XXXXXXXX
have hereunto set their hands and seals in the presence of a witness this 7th
day of January, 2000.
APPLIED COURSEWARE TECHNOLOGY, INC.
Per: /s/ Xxxxxx Xxxxxxxx c/s
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/s/ /s/ Xxxxxx Xxxxxxxx c/s
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Witness XXXXXX XXXXXXXX
/s/ /s/ Xxxx Xxxxxxxx c/s
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Witness XXXX XXXXXXXX
/s/ /s/ Xxxxxx Xxxxxxxx c/s
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Witness XXXXXX XXXXXXXX
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