TERMINATION AND ACKNOWLEDGEMENT AGREEMENT
Exhibit 10.27
By their respective signatures, the undersigned hereby agree and acknowledge that the notes
set forth below, any modifications or amendments or renewals thereof, and any and all rights and
interests of each of the undersigned with respect thereto, shall be terminated and shall have no
further effect as of the Closing (as defined in that certain Series A Stock Purchase Agreement,
dated on or about the date hereof, by and among Tenby Pharma, Inc., a Delaware corporation
(“Tenby”) and the purchasers signatory thereto):
| 1. | Promissory Note, dated February 7, 2006, issued by Tenby to Xxxxx Xxxxx in the principal amount of $12,500.00. | ||
| 2. | Promissory Note, dated June 15, 2006, issued by Tenby to Xxxxx Xxxxx in the principal amount of $5,000.00. |
At the Closing, the undersigned is hereby completely and forever discharged and released from
all of their respective duties and obligations under, and any claims arising under or related to
the notes set forth above.
IN WITNESS WHEREOF, the parties hereto have executed this Termination and Acknowledgement
Agreement on this 13th, day of September, 2006.
| /s/ Xxxxx Xxxxx | ||||
| Xxxxx Xxxxx | ||||
| TENBY PHARMA, INC. |
||||
| By: | /s/ Xxxxx Xxxxxx | |||
| Xxxxx Xxxxxx, Chief Executive Officer | ||||
