SETTLEMENT AGREEMENT AND MUTUAL RELEASESettlement Agreement • June 12th, 2007 • Commerce Energy Group, Inc. • Electric services • New York
This SETTLEMENT AGREEMENT AND MUTUAL RELEASE (“Settlement Agreement”) is entered into among American Communications Network, Inc., a Michigan corporation (“ACN”), Peter Weigand, an individual (“Weigand”), on the one hand, and Commerce Energy Group, Inc., a Delaware corporation, and Commerce Energy, Inc. (formerly known as Commonwealth Energy Corp.), a California corporation (together, “Commerce” and, collectively with ACN and Weigand, the “Parties”), on the other hand. Capitalized terms used but not defined herein have the meanings set forth in the Sales Agency Agreement among Commerce and ACN dated February 9, 2005 (the “Sales Agency Agreement”).
