MUTUAL RECISSION AGREEMENT
The
parties hereto agree and acknowledge that, effective as of September 30, 2003, a
rescission in full occurred in respect of all of the transactions (the
“Transactions”) contemplated by the Reorganization Agreement dated August 11,
2003 (the
“Reorganization Agreement”) between and among The Saint Xxxxx Company, a
Delaware corporation (the “Delaware Corporation” that, under certain
circumstances might have become a successor to a North Carolina corporation of
the same name), and the four persons whose names were set forth on
Exhibit A of the Reorganization Agreement, which Transactions, as contemplated
by the Reorganization Agreement, would have resulted in the acquisition by the
Delaware Corporation of all of the issued
and outstanding capital stock of Funet Radio & Communications
Corp., a divided company of the Republic of China (Taiwan), in exchange for 7,000,000
shares of restricted common stock of the Delaware
Corporation. In connection with the contemplated Transactions, the
following Delaware Corporation share certificates were issued:
|
Name
|
Number of Delaware Corporation
Shares
|
|||
|
Xxxx-Xxxxx
Xxxxx
|
1,750,000 | |||
|
Xxxxx-Xxxx
Xxxx
|
1,750,000 | |||
|
Tun-Xxxxx
Xxxx
|
1,750,000 | |||
|
Xxxx-Xxx
Xx
|
1,750,000 | |||
This
Mutual Rescission Agreement may be executed in one or more
counterparts.
|
Xxxx-Xxxxx
Xxxxx
|
Rescission
of the Transactions, and of the issuance of 1,750,000 Delaware Corporation
Shares; acknowledgement of the destruction of such share certificate or
its return to Xxxxx Xxxxxxxxx; and resignation of all Officer and/or
Director appointments
|
|
|
Xxxxx-Xxxx
Yang
|
Rescission
of the Transactions and of the issuance of 1,750,000 Delaware Corporation
Shares; acknowledgement of the destruction of such share certificate or
its return to Xxxxx Xxxxxxxxx; and resignation of all Officer and/or
Director appointments
|
|
|
Tun-Xxxxx
Xxxx
|
Recession
of the Transactions and of the issuance of 1,750,000 Delaware Corporation
Shares; acknowledgement of the destruction of such share certificate or
its return to Xxxxx Xxxxxxxxx; and resignation of all Officer and/or
Director appointments
|
|
|
Xxxx-Xxx
Xx
|
Rescission
of the Transactions and of the issuance of 1,750,000 Delaware Corporation
Shares; acknowledgement of the destruction of such share certificate or
its return to Xxxxx Xxxxxxxxx; and resignation of all Officer and/or
Director appointments
|
|
|
Xxxxx
Xxxxxxxxx, authorized signatory
|
Rescission
of the Transactions and of the issuance of 7,000,000 Delaware Corporation
Shares; and acceptance of the resignations of all Officer and/or Director
appointments by such persons
|
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