EXHIBIT 10.7
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MUTUAL RELEASE
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For valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, Firstimpex, Inc. ("Firstimpex"), Mercacorp, Inc. ("Mercacorp"),
and Dafico Investment Corp. ("Dafico"), each for itself and on behalf of its
officers, directors, shareholders, and affiliates, hereby forever RELEASE and
DISCHARGE Saf T Lok Incorporated , a Florida corporation located at 0000
Xxxxxxxxxx Xxxxxxx, Xxxx Xxxx Xxxxx, Xxxxxxx 00000 ("STL"), together with its
officers, directors, shareholders, employees, representatives, successors,
assigns, attorneys and affiliates, of and from all manner of actions, causes of
action, suits, debts, damages, and demands whatsoever, in law or equity, that
they, their shareholders, officers, directors and affiliates, have, had, or
hereafter can, shall or may have upon, or by reason of any matter, cause or
thing whatsoever, from the beginning of the world to the day of the date of this
RELEASE.
For valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, STL, for itself and on behalf of its officers, directors,
shareholders, and affiliates, hereby forever RELEASE and DISCHARGE Firstimpex,
Mercacorp, and Dafico, severally, together with each of its officers, directors,
shareholders, employees, representatives, successors, assigns, attorneys and
affiliates, of and from all manner of actions, causes of action, suits, debts,
damages, and demands whatsoever, in law or equity, that STL, its shareholders,
officers, directors and affiliates, has, had, or hereafter can, shall or may
have upon, or by reason of any matter, cause or thing whatsoever, from the
beginning of the world to the day of the date of this RELEASE.
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This Mutual Release is being made in New York and is to be governed by the
laws of such jurisdiction. Any dispute arising hereunder shall be resolved in
the courts of such state.
AGREED this 18th day of May, 1999.
FIRSTIMPEX, INC. SAF T LOK INCORPORATED
By: /s/ By: /s/
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Name: Name:
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Its: Its:
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MERCACORP, INC.
By: /s/
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Name:
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Its:
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DAFICO INVESTMENT CORP.
By: /s/
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Name:
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Its:
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