EXHIBIT 10.68
NATIONAL BOSTON MEDICAL, INC.
PHONE (000) 000-0000 - FAX (000) 000-0000
SETTLEMENT AGREEMENT
This Settlement Agreement made as of October 18, 1999 by and between
NATIONAL BOSTON MEDICAL, INC., a Nevada corporation, with offices at 00 Xxxxxxx
Xxxxx, 0xx Xxxxx, Xxxxxxx, XX 00000 ("National Boston Medical, Inc.") and
AfterMarket Company, 0000 Xxxx Xxxxxx, Xxxxx X, Xxxxxxxx, XX 00000 (AMC).
Currently National Boston Medical, Inc. owes $68,386.98 to AMC (the
"INDEBTEDNESS"). In exchange for the following consideration as well as other
good and valuable consideration paid in hand, the receipt and sufficiency of
which is hereby acknowledged, the parties hereto agrees to the following:
1. NBM shall issue to AMC (or the designee) and AMC shall accept 250,000
shares of the restricted common stock of National Boston Medical, Inc.
(the "STOCK"), to be issued within two (2) weeks of execution of this
Agreement.
2. NBM shall pay to AMC and AMC shall accept from National Boston
Medical, Inc. $34,193.49 (1/2 the "MONEY"), to be paid within two (2)
weeks of execution of this Agreement.
3. NBM shall pay $200.00 per week until such balance is paid in full.
4. NBM shall issue an additional 250,000 shares to be held by AMC until
balance is paid in full, at which time the 250,000 shares shall be
returned to the treasury of NBM.
5. Upon receipt of both the STOCK and the MONEY, AMC shall immediately
cause a General Release of ALL Claims to be executed in favor NBM (the
"RELEASE").
This Settlement Agreement is freely and voluntarily executed by AMC
after being apprized of all relevant information and date by its consultants
and/or attorneys. AMC in executing this Settlement Agreement does not rely on
any inducements, promises, or representations made by NBM or any of NBM's
representatives. Furthermore, no promise, inducement, or agreement not herein
set forth, has been made to AMC and this Settlement Agreement contains the
entire agreement between the parties hereto, and the terms of this Settlement
Agreement are contractual and not merely a recital.
Should the foregoing terms meet with your approval, please acknowledge
such by affixing your name hereto.
NATIONAL BOSTON MEDICAL, INC. AFTERMARKET
/s/ Xxxxxx Xxxxx /s/ Xxxxxx Xxxx
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Xxxxxx Xxxxx, CEO
00 XXXXXXX XXXXX - XXXXX XXXXX - XXXXXXX, XX 00000
