December 12, 1995 Douglas B. Silver 3891 East Irwin Place Littleton, Colorado 80122 Re: Employment Agreement Dated June 1, 1995 Doug: This will confirm the acceptance of your resignation as an officer and director of Aurtex, Inc. (the "Company"),...Employment Agreement • February 22nd, 1996 • Aurtex Inc • Gold and silver ores
This will confirm the acceptance of your resignation as an officer and director of Aurtex, Inc. (the "Company"), effective November 30, 1995. You have asserted that you are entitled to full severance benefits pursuant to your Employment Agreement, and have agreed to accept $50,000.00 plus a waiver and release of any and all claims of the Company against you and Balfour Holdings, Inc. (which waiver and release is hereby given) in exchange for a waiver of those severance benefits. Your waiver is contingent on receipt of the entire amount in cash or certified funds on or before the due date specified in the following sentence. This payment is to be made to you as soon as possible, but in any event no later than the first to occur of: (i) the Company's sale of the any of the 2,080,000 shares of Common Stock of Northfield Minerals, Inc. evidenced by share certificate no. 02714, (the "Shares") or (ii) May 15, 1996. This obligations of the Company is to be represented by a promissory note and
