RETIREMENT AND BOARD SERVICE ABOARD SERVICE AGREEMENTRetirement and Board Service Agreement • August 9th, 2007 • Ants Software Inc • Services-computer programming services • California
This Retirement and Board Service Agreement (the “Agreement”) dated as of June 26, 2007, is made by and between ANTs software inc., a Delaware corporation (the “Company”) and Francis K. Ruotolo (“Executive”). Its purpose is to set forth the parties’ agreement regarding the cessation of employment status of the Executive with the Company, the continuation of the Executive’s service on the Company’s Board of directors, the mutual termination of the Executive’s Employment Agreement with the Company dated on March 23, 2007, the provision of the benefits Executive is to receive, and the provision of the mutual waivers and releases the parties are giving each other.
