AGREEMENT
AGREEMENT
This
Agreement (the “Agreement”) between Xxxxx X. Xxxxxxxx (“Xxxxxxxx”) and Sanswire
Corp. (the “Company”) is effective on the date fully executed by both parties
("Effective Date"), and is entered into by and between Xxxxxxxx, the Company’s
President and Chief Executive Officer with an address of 0000 Xxxxxxxx Xxxxx,
Xxxx Xxxxxxxx, XX 00000 and the Company, a Delaware corporation with offices at
Xxxxx Xxxx 000, Xxxxxxxx X0-000X, Xxxx 1400, Xxxxxxx Xxxxx Xxxxxx, XX
00000.
WHEREAS,
pursuant to that certain Confidential Employment Agreement by and between
Xxxxxxxx and the Company dated June 23, 2010 (the “Employment Agreement”), the
Company issued to Xxxxxxxx 5,000,000 shares (the “Shares”) of its common stock,
par value $0.00001 per share (the “Common Stock).
WHEREAS,
Xxxxxxxx and the Company now desire to rescind the issuance of the Shares as
more particularly set forth below:
NOW,
THEREFORE, in consideration of the mutual promises and consideration contained
herein, the parties agreed as follows:
1. Xxxxxxxx
and the Company have mutually agreed to rescind the issuance of the Shares
whereby the Shares are hereby returned by Xxxxxxxx to the Company for
cancellation and return to treasury, and hereafter all right, title and interest
of Xxxxxxxx in the Shares is hereby terminated.
2. The
Employment Agreement will be amended and restated as of the date hereof as set
forth as Appendix A hereto.
3. This
Agreement embodies the entire agreement between Xxxxxxxx and the Company with
respect to the matters set forth herein.
4. This
Agreement shall be construed and governed by the laws of the State of
Delaware.
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IN
WITNESS WHEREOF, Xxxxxxxx and the Company have executed and delivered this
Agreement effective as of the Effective Date.
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By:
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Name:
Xxxxxxx X. Xxxxx
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Title:
Chairman of Board of Directors
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Date:
Xxxxxxxx 00, 0000
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Xxxxx
X. Xxxxxxxx
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Date:
December 27,
2010
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APPENDIX
A
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