EXHIBIT 10.53
Memorandum of Agreement
Whereas the parties entered into a Heads of Agreement together with Xxxxx
Xxxxxxx on the 19th day of July 1995 (the "Heads of Agreement").
Xxxxx Xxxxxxx ceased to be a Director or Employee of IFX Ltd. (formerly Index FX
Ltd. the "Company") on the 19th November 1996.
The Parties have agreed to terminate the Heads of Agreement with effect from
31st March 1997 and IFX Ltd. and each of Xxxxxx Wellesley ("GW") and Xxxxxxx
Naldini ("LN") have agreed to terminate the employment contracts between IFX
Ltd. and each of GW and LN, dated 13th November 1995, with effect from the same
date.
Now It Is Agreed:
The Heads of Agreement and the employment contracts of each of GW and LN with
IFX Ltd. shall be deemed to have been terminated on the 31st day of March 1997
and shall be of no further effect save with regard to matters occurring during
the course of those agreements and save that obligations of confidentiality,
secrecy and restrictive covenants applicable to any party shall continue in
force in accordance with the terms of the relevant agreements. Notwithstanding
the termination of these employment contracts each of GW and LN shall continue
to be directors of IFX Ltd.
The Parties have signed this Memorandum of Agreement as a Deed by way of
acknowledgment of their prior verbal agreements to terminate the Heads of
Agreement and the employment contracts on the terms set out above and with
effect from 31st March 1997.
/s/ Xxxx Xxxx/312 Futures, Inc. by
Xxxxxxx Xxxxxxxx, CFO
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Xxxx Xxxx/312 Futures, Inc.
/s/ Xxxxxxx Naldini
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Xxxxxxx Naldini
/s/ Xxxxxx Wellesley
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Xxxxxx Wellesley
/s/ Xxxxxxx Xxxxxxx
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IFX Ltd.
Dated this 12th day of March 1997.
