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EXHIBIT 10.15
MUTUAL RELEASE AND NULLIFICATION AGREEMENT
THIS MUTUAL RELEASE AND NULLIFICATION AGREEMENT ("Release") is made and
entered into as of the 11th day of March 1999, by and between THE RECOVERY
NETWORK, INC., a Colorado corporation ("Company") and TELESERVICES
INTERNATIONAL GROUP, INC. ("Consultant").
W I T N E S S E T H
WHEREAS, the Company and the Consultant (collectively, the "Parties")
entered into a Letter of Understanding ("Agreement") as of April 17, 1998; and
WHEREAS, the Parties mutually agree that it is to their mutual best
interests to void said Agreement and to return the Parties to their respective
positions relative to the subject matter of the agreement prior to its execution
of the Agreement on April 17, 1998.
NOW, THEREFORE, in consideration of the mutual promises and covenants
contained herein, and other good and valuable consideration, the receipt and
efficiency of which is hereby acknowledged, the Parties hereto agree as
follows:
ARTICLE I
TERMINATION
1.1 The Parties hereby agree that the Agreement is null and void, and
that all actions under, and effects of, said Agreement are nullified and voided
as if said Agreement had never been executed by the Parties.
ARTICLE II
WAIVER OF PERFORMANCE AND COMPENSATION
2.1 In addition to any other agreement made herein, the Consultant
specifically waives all rights to any compensation, including, but not limited
to, warrants to the Company, and the Company waives all rights to any
performance by the Consultant.
ARTICLE III
WAIVER
3.1 Each Party hereby waives, irrevocably and in perpetuity, any and all
losses, settlements, claims, actions, suits, proceedings, investigations,
judgments, awards, damages and liabilities, including reasonable attorneys'
fees (collectively "Losses" and, individually, a "Loss"), whether or not
known, anticipated, or foreseen, which are sustained or incurred by or
asserted against any of them and which arise out of the Agreement, any such
action or inaction hereunder or the termination thereof, as against the other
Party and its affiliates, their successors and assigns, and their respective
officers, directors, shareholders, employees and agents.
IN WITNESS WHEREOF, the parties have duly executed and delivered the
Release and Indemnification Agreement, effective as of the day and year first
above-written.
THE RECOVERY NETWORK, INC. TELESERVICES INTERNATIONAL GROUP, INC.
BY: /s/ XXXX XXXXXXXX BY: /s/ XXXXX X. GUILD
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Xxxx Xxxxxxxx Xxxxx X. Guild
President and Chief Executive Officer President
