TERMINATION AND RELEASE
THIS TERMINATION AND GENERAL RELEASE (the "Termination and Release") is made and
entered into this 19th day of July 2004 by and between D &M Rental Company,
having its principal place of business at 0000 Xxx Xxxxxx Xxxxxx, Xxxx Xxxxxxx,
XX ("D&M") and Solomon Technologies, Inc. having its principal place of business
at 0000 X&X Xxxxxxxxxx Xxxx., Xxxxxx Xxxxxxx, XX ("Solomon").
Reference is made to that certain lease agreement dated August 1, 2002 for
premises known as 0000 Xxxxxxxx Xxxxxx, Xxxxxxxx, XX between D&M and Solomon
(the "Lease").
In consideration of the payments and covenants detailed below, D&M and Solomon
hereby terminate the Lease. D&M acknowledges that Solomon has delivered
possession of the premises covered by the Lease as of June 30, 2004 and returned
all keys to D&M.
D&M, for good and valuable consideration, including, without limitation, the
payment to D&M of Twenty Four Thousand Dollars ($24,000.00), by Solomon, the
sufficiency of which is hereby acknowledged, hereby remises, releases and
forever discharges, and by these presents does, for itself and its officers,
directors, shareholders, agents, employees, insurers, affiliates, successors and
assigns, hereby remise, release and forever discharge, Solomon, its officers,
directors, shareholders, agents, employees, insurers, affiliates, successors,
assigns, heirs, executors and personal representatives, of and from all manner
of action and actions, cause and causes of action, suits, debts, dues, sums of
money, accounts, reckoning, bonds, bills, specialities, covenants, contracts,
controversies, agreements, promises, variances, trespasses, damages, judgments,
extents, executions, claims and demands whatsoever in law or in equity, whether
known or unknown, suspected or unsuspected, contingent or fixed, from the
beginning of the world to the date of this general release, including, but not
limed to, any causes of action or claims in any way related to or arising out
the Lease or any matter related to any of the foregoing.
Solomon for good and valuable consideration including, but not limited to, the
release granted hereunder by D&M, the sufficiency of which is hereby
acknowledged, hereby remises, releases and forever discharges, and by these
presents does, for its officers, directors, shareholders, agents, employees,
insurers, successors and assigns, hereby remise, release and forever discharge
D&M and its officers, directors, shareholders, agents, employees, insurers,
successors, assigns, heirs, executors and personal representatives, of and from
all manner of action and actions, cause and 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 in
equity, whether known or unknown, suspected or unsuspected, contingent or fixed,
from the beginning of the world to the date of this general release, including,
but not limited to, any causes of action or claims in any way related to or
arising out of the Lease or any matter related to the forgoing.
D&M and Solomon agree that telecopied or "faxed" agreements are binding on both
parties. In order to expedite the finalization of this agreement, the parties
shall execute faxed copies, but will also execute two (2) original agreements.
This Termination and Release shall be effective upon D&M receiving in good and
immediately available funds from Solomon the sum of $24,000 on or before July
23, 2004 and the execution by the parties hereto of this Termination and Release
and the delivery of an executed Termination and Release by each party hereto to
the other party.
In Witness Whereof the parties have executed this agreement the day and date
first written above.
WITNESSED BY:
D&M RENTAL COMPANY
/s/ Xxxxx X. Zupamlic By: /s/ Xxxxxx X. Smokinski
--------------------- -----------------------
Name: Xxxxxx X. Xxxxxxxxx
Title: Owner
Name: Xxxxx X. Zupamlic
SOLOMON TECHNOLOGIES, INC.
________________________ By: /s/ Xxxxx X. XxXxxxxxx, Xx.
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Name: Xxxxx X. Xxxxxxxxx, Xx.
Name: President
________________________
Name:
