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AGREEMENT TO TERMINATE REGISTRATION RIGHTS
THIS AGREEMENT TO TERMINATE REGISTRATION RIGHTS (the "Agreement") is
made and entered into as of June ____, 2000 by and between High Speed Net
Solutions, Inc., a Florida corporation (the "Company"), and the undersigned
owner of Common Stock in the Company ("Shareholder").
WITNESSETH:
WHEREAS, the Shareholder may have entered into agreement(s) with the
Company which may grant the Shareholder some form of piggyback registration
rights for some of the Shareholder's shares of the Company's Common Stock (the
"Registration Rights"); and
WHEREAS, the Company is in the process of registering shares of its
Common Stock for other selling shareholder(s) and the Shareholder does not
desire to participate in the share registration process because either: (i) the
Shareholder no longer owns any of the Company's Common Stock; (ii) the burden of
participating in the registration process outweighs the benefit for the
shareholder of having the Shareholder's shares registered; or (iii) the
Shareholder is now able to avail themselves of the benefit of SEC Rule 144 and
the Shareholder intends to so depend on Rule 144 in the event that Shareholder
decides to sell or transfer such shares; and
WHEREAS, the Company and the Shareholder have mutually agreed to
terminate any such Registration Rights that may exist.
NOW THEREFORE, in consideration of the premises and the mutual
covenants, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby mutually acknowledged, the Company and the
Shareholder hereby agree as follows:
1. Any Registration Rights of any kind which may have been
granted by the Company to the Shareholder at any time in the past are hereby
terminated and shall be forever and hereafter null and void.
2. Shareholder acknowledges that Shareholder is aware that the
Company is in the process of registrating shares of its Common Stock and that
Shareholder may have the right to have some of Shareholder's shares registered
by the Company in this registration. Shareholder acknowledges that Shareholder
does not desire now, or at any time in the future, to participate in this or any
registration process which the Company may undertake.
3. This Agreement will obligate and benefit the parties and their
respective successors and assigns. Neither party may assign this Agreement or
any rights under this Agreement without the prior written consent of the other
party, which the other party may withhold in its reasonable discretion. The
invalidity or unenforceability of any provision of this Agreement will not
affect the validity or enforceability of any other provision, the remaining
provisions being deemed to continue in full force and effect. This Agreement
will be governed by and construed under the laws of the State of North Carolina,
without reference to its choice of law or conflict of laws rules. This
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Agreement contains the complete and exclusive statement of the agreement of the
parties and supersedes all prior agreements and communications, whether oral or
in writing, between the parties with respect to the subject matter of this
Agreement. No amendment or modification of this Agreement will be effective
unless made in a writing signed on behalf of both the Company and Shareholder.
This Agreement may be executed in any number of counterparts, each of which
shall be deemed to be an original but all of which together shall constitute but
one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first above written.
HIGH SPEED NET SOLUTIONS:
By:
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Name:
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Title:
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SHAREHOLDER:
if an individual:
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Print Name:
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if an entity:
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(Entity Name)
By:
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Name:
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Title:
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