Exhibit 10.25
GENERAL RELEASE
This General Release (the "Release"), dated as of March 27, 2003, is by
and between Delanet, Inc., a Delaware corporation having an address at 0 Xxxxx
Xxxxx, Xxxxxx, Xxxxxxxx, and its sole shareholders, Xxxxxxx Xxxxx and Xxxxxx
XxXxxxxx (collectively, Delanet, Xxxxx and XxXxxxxx are referred to herein as
the "Releasors") and Frontline Communications Corp., a Delaware Corporation with
a principal place of business at One Blue Hill Plaza, 7th Floor, Pearl River,
New York (the "Releasee").
For and in consideration of the sum of Two Hundred Thousand Dollars
($200,000) cash and Three Hundred and Seventy Five Thousand (375,000) shares of
common stock of the Relesee, and for other good and valuable consideration, (the
"Consideration"), the Releasors hereby release and discharge the Releasee, its
heirs, executors, administrators, successors and assigns from all actions,
causes of action, suits, debts, dues, sums of money, accounts, reckoning, bonds,
bills, specialties, covenants, contracts, controversies, agreements, promises,
variances, trespasses, damages, judgments, extents, executions, claims, and
demands whatsoever, in law or equity, which the Releasors or their heirs,
executors, administrators, successors and assigns ever had, now have or
hereafter can, shall or may have, for, upon, or by reason of any other matter,
cause or thing whatsoever may have regarding any agreement (including, but not
limited to, the Asset Purchase Agreement, Promissory Note and Pledge and
Security Agreement dated June 20, 2000 between Delanet, Inc. and Releasee, and
the Employment Agreements dated June 20, 2000 between Xxxxx, XxXxxxxx and the
Releasee) or amendment whether oral or written, or the actions or
responsibilities contemplated therein.
The Releasors hereby acknowledge receipt of the Consideration.
This Release represents the full agreement of the Releasors and the
Releasee and may not be amended, supplemented, revised or terminated without
prior written consent of both the Releasors and the Releasee.
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We have carefully read and understand the foregoing and are duly
authorized to execute this Release.
Executed on this 27th day of March, 2003.
Delanet, Inc.
/s/
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By: Xxxxxxx Xxxxx
Title: President
Xxxxxxx Xxxxx, Individually
/s/
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Xxxxxx XxXxxxxx, Individually
/s/
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State of Delaware
County of ss:
On this 27th day of March, 2003, before me personally came Xxxxxxx Xxxxx and
Xxxxxx XxXxxxxx, to me known who, being duly sworn, did depose and duly
acknowledged to me that they executed the Release.
/s/
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