SETTLEMENT AGREEMENT AND RELEASESettlement Agreement • December 15th, 2009 • Spongetech Delivery Systems Inc • Soap, detergents, cleang preparations, perfumes, cosmetics • New York
This Agreement (referred to herein as the “Agreement” or “Settlement Agreement”) is made effective as December 14, 2009 (the “Effective Date”), by and between SpongeTech Delivery Systems, Inc. (“SDS” or “SPONGETECH”) and SpongeTech, Inc. (“STI”), Spongeables LLC (“Spongeables” or “SLLC”) and Michael Popovsky (“Popovsky”). SpongeTech Delivery Systems, Inc., SpongeTech, Inc., Spongeables LLC and Michael Popovsky are collectively referred to as the “Parties” and singularly referred to as “Party.” Sponge Tech, Inc., Spongeables LLC and Michael Popovsky are collectively referred to as the “Defendants.”
