EXHIBIT 10.58
SETTLEMENT AGREEMENT
This Settlement Agreement made as of August 25, 1999 by and between
NATIONAL BOSTON MEDICAL, INC., a Nevada corporation, with offices at 00 Xxxxxxx
Xxxxx, 0xx Xxxxx, Xxxxxxx, Xxxxxxxxxxxxx 00000 ("NBM") and WORKHORSE COMPUTERS,
INC. f/k/a Remote Information Systems, Inc., with offices at 0000 Xxxxxxx Xxxxx,
Xxxxxx, XX 00000 and XXXX XXXXX (collectively referred to herein as "WCI").
Currently NBM owes $22,274.17 to WCI. In exchange for the following
consideration as well as other good and valuable consideration paid in hand, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree to the following:
1. NBM shall pay WCI and WCI shall accept $11,000 on or before
August 27, 1999 with no additional interest accruing thereon
and no penalty for prepayment.
2. NBM shall issue 74,982 shares of its restricted common stock
to WCI (or its designee) within two (2) weeks of execution of
this Agreement.
3. Upon receipt of the items contained in numbers 1 and 2 above,
WCI shall immediately cause a General Release of All Claims to
be executed in favor of NBM.
Should the foregoing terms meet with your approval, please acknowledge
such by affixing your name hereto.
NATIONAL BOSTON MEDICAL, INC. XXXX XXXXX
By:/s/ Xxxxxx X. Xxxxx By:/s/ Xxxxxxx Xxxxx
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Xxxxxx Xxxxx, co-CEO/Chairman Xxxx Xxxxx
WORKHORSE COMPUTERS, INC.
By:/s/ Xxxxxxx Xxxxx
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Xxxx Xxxxx, President
