Re: Indemnification Agreement
-
Confidential -
April
__,
2006
To:
_______________________
Dear
Sir
/ Madam,
GammaCan
International Inc. (the "Company")
is
happy to inform you that, in connection with your service as an officer or
a
director of the Company, the board of directors of the Company has decided
to
amend in your favor the indemnity agreement executed between you and the Company
on ____________ (the "Agreement").
The
Agreement will be amended by adding the following paragraph at the end of
Section 4 of the Agreement:
"The
above is subject to a final judgment imposed by a court of law or if the
Indemnitee admitted to the above allegations."
The
effect of this amendment is that in the event of a breach of duty or intentional
misconduct (each, an "Allegation")
on
your part, the Company's undertakings to indemnify you shall be invalidated
only
to the extent that a final court judgment affirms the Allegations or that you
admit the Allegations. In
any
event of contradiction between this letter and the terms of this Agreement
(as
amended), the provisions of the Agreement shall prevail.
Please
indicate your acceptance of the aforesaid by returning to us a signed copy
of
this letter. The Company's signature on this letter will bind the Company only
if coupled with your signature furnished to us within seven (7) days from the
date of this letter.
| Sincerely, | ||
| _____________________ | ||
| GammaCan International Inc. | ||
| I acknowledge and approve of the above amendment to the indemnity agreement between the Company and me. | ||
| ______________________ | ______________________ | |
| [Indemnitee] | Date | |
