SETTLEMENT & RELEASE AGREEMENTSettlement & Release Agreement • December 19th, 2007 • Us Dataworks Inc • Services-prepackaged software • California
This Settlement & Release Agreement (this “Agreement”) is entered into as of December 13, 2007 (the “Effective Date”) by and among US Dataworks, Inc., a Nevada corporation (“UDW”), Hyundai Syscomm Corp., a California corporation (“HSC”), and John J. Figone, an individual residing in the State if California and the Senior Vice President Business Development and General Counsel of UDW (“JJF”). UDW, HSC and JJF may sometimes be referred to as a “Party” individually and the “Parties” collectively. Capitalized Terms not defined herein this Agreement shall have the same meanings as ascribed to them in the Stock Purchase Agreement, dated December 29, 2006, as amended (described below in Recital C).
