Washington, D.C. 20549Cancellation and Release Agreement • August 10th, 2000 • Goldfield Corp • Water, sewer, pipeline, comm & power line construction
This Cancellation and Release Agreement is executed this 12th day of June, 2000, by and between THE GOLDFIELD CORPORATION, a Delaware corporation, hereinafter called "the Company" and JOHN H. SOTTILE, hereinafter called "Employee." WHEREAS, the Company and the Employee established an Employee Benefit Agreement dated November 20, 1989, hereinafter called "the Agreement" for the purpose of providing insurance for the benefit and protection of the Employee's family; and WHEREAS, the Company purchased Policies Numbered 356435, 286640 and 281682 with Zurich American Life Insurance Company, hereinafter called "the Policies"; and WHEREAS, the Employee has not assigned any interest under the Agreement or the Policies, other than to the Company, to any other individual, trust, corporation or entity and the Employee has all the rights and interests under the Agreement by and between the Company and the Employee; and WHEREAS, the Employee and the Company have mutually agreed to cancel the Agreeme
