RESCISSION OF LICENSING AGREEMENT
This Agreement of mutual rescission of a contract made and entered into this
30th day of January 2006, by and between On4 Communications Inc., a federally
incorporated Canadian company ("On4") and Cimbix Corp., a Nevada Corporation
("Cimbix").
Section 1.0 MUTUAL RESCISSION OF CONTRACT
The parties hereby mutually acknowledge and agree that:
(i) On June 16, 2005, the parties entered into a contract, which is attached
and marked Exhibit A.
(ii) The parties to that contract and to this agreement of mutual rescission
wish to rescind that contract.
(iii) Upon the signing of this agreement, Cimbix agrees to change the name of
their wholly owned subsidiary from PetsMobility Inc. to PetsMo Inc. and will do
so within 7 business days of signing this agreement.
Therefore, in consideration of the mutual covenants of the parties, the parties
hereby rescind the aforementioned contract effective as of this day first
written above. This agreement of mutual rescission shall be binding upon the
parties, their successors, assigns and personal representatives. Neither party
shall have any further rights, duties or obligations there under.
Section 2.0 MUTUAL COVENANT NOT TO XXX
The parties so named above, for good and valuable consideration received, do
hereby covenant that either aforementioned party shall not commence or maintain
any suit thereon against said party whether at law or in equity as a result of
the rescission of said Licensing Agreement.
This covenant shall be binding upon, and inure to, the benefit of the parties,
their successors, assigns, executors, administrators, personal representatives
and heirs.
Section 3.0 MUTUAL RELEASE
The parties so named above, for good and valuable consideration received, do
hereby covenant that either aforementioned party do hereby release, cancel,
forgive and forever discharge each other from all actions, claims, demands,
damages, obligations, liabilities, controversies and executions, of any kind or
nature whatsoever, whether known or unknown, whether suspected or not, which
have arisen, or may have arisen, or shall arise by reason of the Indebtedness
and/or the guaranty of payment of the Indebtedness as designated and described
in the Agreement from the first day of the world, including this day and each
day hereafter, and does specifically waive any claim or right to assert any
cause of action or alleged case of action or claim or demand which has,
through oversight or error intentionally or unintentionally or through a mutual
mistake, been omitted from this Release.
Section 4.0 BINDING OF COVENANTS
The aforementioned parties hereby acknowledge and covenant, that all terms and
conditions in this agreement shall be binding upon, and inure to, the benefit
of the parties, predecessors, parent corporations, holding companies,
subsidiaries, affiliates, divisions,
and all of their officers, directors and employees, successors and assigns,
executors, administrators, personal representatives and heirs.
This agreement shall be enforced under the laws of Nevada as entered into this
30th day of January, 2006. This is the entire agreement.
On4 Communications Inc. Cimbix Corporation
/s/ Xxxxxxx Xxxx /s/ Xxxxxx Xxxxxx
______________________________ ________________________________
Authorized Signature Authorized Signature
Xxxxxxx Xxxx - President Xxxxxx Xxxxxx - President
