Arel Communications & Software Ltd.Employment Agreement • June 24th, 2004 • Arel Communications & Software LTD • Services-computer integrated systems design
The following summarizes our agreement with respect to the cessation of your duties, and the termination of your employment, with Arel Communications & Software Ltd. (the “Company”):
SETTLEMENT & RELEASE AGREEMENTSettlement & Release Agreement • June 24th, 2004 • Arel Communications & Software LTD • Services-computer integrated systems design
THIS SETTLEMENT & RELEASE (this “Release”) is made on this third day of October, 2003, by and among Arel Communications and Software Ltd. (“Arel Ltd.”), Arel Learning Solutions, Inc. (formerly Arel Acquisition, Inc.) (“ALS”) (Arel Ltd. and ALS, collectively, the “Company”), Izhak Gross (“Gross”) (the Company and Gross, collectively, the “Arel Parties”), M.E. Jones Sub, Ltd. (formerly W2Com, LLC) (“Jones Sub”), CYMI Ltd. (“CYMI”), M.E. Jones Inc. (“Jones Inc.”), Mitchell E. Jones (“Jones”) and Clayton L. Mathile (“Mathile”) (Jones Sub, CYMI, Jones Inc., Jones and Mathile, collectively the “W2Com Parties”).
