ContractAgreement and Mutual Releases • July 19th, 2002 • Alphanet Solutions Inc • Wholesale-computers & peripheral equipment & software • New Jersey
AGREEMENT AND MUTUAL RELEASES THIS AGREEMENT AND MUTUAL RELEASES (the “Agreement”) is made as of December 1, 2001 between Stan Gang (“Gang”) and AlphaNet Solutions, Inc. (“AlphaNet” or the “Company”). WHEREAS, Gang was employed by AlphaNet as its chief executive officer and is chairman of the board of AlphaNet; WHEREAS, Gang resigned from his position as chief executive officer of AlphaNet effective December 1, 2001 and remains Chairman of the Board of Directors; and WHEREAS, AlphaNet has agreed to provide Gang with certain payments and benefits subject to the terms and conditions set forth in this Agreement; WHEREAS, this Agreement supersedes all prior agreements between the parties; NOW, THEREFORE, AlphaNet and Gang hereby agree as follows: 1. Resignation as Chief Executive Officer. (a) Gang resigned from his position as chief executive officer of AlphaNet effective December 1, 2001. Notwithstanding the foregoing, Gang agrees to remain an employee of AlphaNet whose sole responsibilit
