GlobalTel IP, Inc.
0000 X Xxxxxxx Xxxxxxx Xxxxx 000
Xxxx Xxxxx, XX 00000
June 6, 2007
Tremont Ventures LLC
000 Xxxxxxx Xxx #0000
Xxx Xxxx, XX 00000
Gentlemen:
Reference is made to the Management Agreement by and between us made as of June 1, 2006. This confirms our agreement to terminate the Management Agreement and to relieve and release both of us of any past, present or future obligation thereunder.
If the foregoing reflects your agreement, please sign and return this letter to GlobalTel IP, Inc.
Very truly yours,
/s/ Xxxxx X. Xxxx
By: Xxxxx X. Xxxx
President & CEO
Agreed and accepted this 6th day of June 2007
/s/ Xxxxxx Xxxxxx
Tremont Ventures LLC
By: Xxxxxx Xxxxxx
Co-Managing Member
