TERMINATION AGREEMENT
Exhibit 4.5
THIS TERMINATION AGREEMENT (the “Agreement”) is made and entered into effective as of
October 19, 2005, by and between AIRBEE WIRELESS, INC., a Delaware corporation (the
“Company”), and CORNELL CAPITAL PARTNERS, LP, a Delaware limited partnership (the
“Investor”).
Recitals:
WHEREAS, the Company and the Investor entered into an equity line of credit agreement dated as
of April 20, 2005 (the “Standby Equity Distribution Agreement”); a registration rights
agreement dated as of April 20, 2005 (the “Registration Rights Agreement”) and an escrow
agreement dated as of April 20, 2005 (the “Escrow Agreement”). (Collectively, the Standby
Equity Distribution Agreement, the Registration Rights Agreement, and the Escrow Agreement are
referred to as the “Transaction Documents.”
NOW, THEREFORE, in consideration of the promises and the mutual promises, conditions and
covenants contained herein and in the Transaction Documents and other good and valuable
consideration, receipt of which is hereby acknowledged, the parties hereto agree as follows:
1. Termination. Each of the parties to this Agreement hereby terminate the
Transaction Documents and the respective rights and obligations contained therein. As a result of
this provision, none of the parties shall have any rights or obligations under or with respect to
the Transaction Documents.
IN WITNESS WHEREOF, the parties have signed and delivered this Termination Agreement on the
date first set forth above.
AIRBEE WIRELESS, INC. | ||||||||
By: | /s/ Xxxxxxxxxx Xxxx | |||||||
Name: | Xxxxxxxxxx Xxxx | |||||||
Title: | President and Chief Executive Officer | |||||||
CORNELL CAPITAL PARTNERS, LP | ||||||||
By: | Yorkville Advisors, LLC | |||||||
Its: | General Partner | |||||||
By: | /s/ Xxxx X. Xxxxxx | |||||||
Name: | Xxxx X. Xxxxxx | |||||||
Title: | Portfolio Manager |