DISTRIBUTION OF SUBSIDIARY AND RELEASE AGREEMENTDistribution of Subsidiary and Release Agreement • August 20th, 2007 • Planetlink Communications Inc • Retail-radio, tv & consumer electronics stores • Georgia
This Agreement to transfer ownership of Coin Wash Associates, Inc. (the “Agreement”) is entered into on this 20th day of August 2007, by and between PlanetLink Communications, Inc., as Seller (the “Seller”) and Yaakov Fulda, also known as Sean Fulda, (the “Buyer”). Effective April 1, 2007, the Seller agreed to dispose of certain assets, which consisted entirely of cash and laundry facilities such as washers and dryers, in exchange for a general release and full indemnification so that all expenses of the subsidiary from its inception through April 1, 2007, would be the responsibility of the Buyer, Sean Fulda.
