Agreement For Termination of Chee Leong Wong’s Employment Contract As Chief Financial Officer Termination Of Wong Chee Leong’s Employment & Settlement of Salary
Exhibit
99.10
Agreement For Termination of
Xxxx Xxxxx Xxxx’x Employment Contract As Chief Financial
Officer
Termination Of Xxxx Xxxx
Xxxxx’x Employment & Settlement of Salary
Xxxx Xxxx
Xxxxx (“WCL”) and Mezabay International Inc. (Formerly, Cardtrend International
Inc.) (“Company”) herby mutually agree that WCL’s employment with the Company
under the Employment Contract dated July 1st,
2006 and its addendum dated January 1st,
2007 (“Employment Contract”) shall be terminated with effect from September 23,
2009. Accordingly, WCL hereby resigns from the Company as its Senior Vice
President & Chief Financial Officer with effect from September 23,
2009.
WCL and
the Company mutually agree that the Company shall pay to WCL (i) a sum of HK$
19,697.97 being salary from September 1, 2009 to September 23, 2009; (ii)a sum
of HK$ 25,249.32 in lieu of 16 days of vacation leave which WCL was entitled to
but unconsumed as at September 23, 2009; and (iii) a sum of HK$ 1,017,863.01
being compensation for early termination of the Employment Contract, totaling
HK$ 1,062,810.30 (or US$ 137,110.27) (“Total Due”).
WCL and
the Company mutually agree that the Company shall settle the Total Due of US$
137,110.27 by issuing to WCL a total of 17,138,784 Rule 144 restricted shares of
its common stock, at a price of $0.008 per share (“Shares”).
WCL
agrees that the unvested and vested shares as at September 23, 2009 of all the
three share options granted to him by the Company on September 5, 2008 are
hereby cancelled with immediate effect.
WCL and
the Company hereby agree that upon the issuance and delivery of the Shares to
WCL by the Company, the Company and WCL shall have discharged all their
respective obligations under the said Employment Contract and any addendum
thereto and they shall release each other of any other obligation and shall have
no claim against each other.
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Agreed
to by:
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For
and on-behalf of
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For
and on-half of
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Xxxx
Xxxx Xxxxx
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XXXXX
XXX XXXX
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XXXX
XXXX XXXXX
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Xxxxx
Xxx Xxxx
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Xxxx
Xxxx Xxxxx
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Director
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(Malaysia
I/C No.: 611086085691)
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Date:
September 23, 2009.
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Date:
September 23, 2009
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