Exhibit 99.1
MUTUAL RELEASE
This Mutual Release ("Release"), is executed this 6th day of June, 2007, by and
between, Xxxx Xxxxxxx (hereinafter referred to as "Xxxxxxx"), and Fit For
Business International, Inc. and any and all affiliates (hereinafter "FFB").
RECITALS:
WHEREAS, Xxxxxxx has been the Chief Executive Officer of FFB under an employment
agreement dated November 29, 2004 (the "Employment Agreement"); and
WHEREAS, Xxxxxxx and FFB have agreed to rescind the Employment Agreement
pursuant to a mutual rescission agreement (the "Mutual Rescission Agreement").
WITNESSETH:
NOW THEREFORE, for and in consideration of the payment of One Dollar ($1.00),
and other good and valuable consideration, in hand paid, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Xxxxxxx hereby releases and forever discharges FFB, the officers,
directors, employees, and affiliates of FFB from any and all claims, demands,
judgments, proceedings, causes of action, orders, obligations, contracts,
agreements, liens, accounts, costs and expenses (including attorney's fees and
court costs), debts and liabilities whatsoever, whether known or unknown,
suspected or unsuspected, matured or unmatured, both at law (including federal
and state securities laws) and in equity, which Xxxxxxx or any of his respective
affiliates now have, have ever had against FFB arising contemporaneously with or
prior to the date of this Release in connection with the Employment Agreement or
on account of or arising out of any matter, cause, event or omission occurring
in connection with the Employment Agreement contemporaneously with or prior to
the date of this Release exclusive of any provisions included in the Mutual
Rescission Agreement.
Xxxxxxx hereby irrevocably covenants to refrain from, directly or
indirectly, asserting any claim or demand, or commencing, instituting or causing
to be commenced, any proceeding of any kind against FFB based upon any matter
purported to be released hereby.
2. FFB hereby releases and forever discharges Xxxxxxx from any and all
claims, demands, judgments, proceedings, causes of action, orders, obligations,
contracts, agreements, liens, accounts, costs and expenses (including attorney's
fees and court costs), debts and liabilities whatsoever, whether known or
unknown, suspected or unsuspected, matured or unmatured, both at law (including
federal and state securities laws) and in equity, which FFB or any of FFB's
respective affiliates now have, have ever had against Xxxxxxx arising
contemporaneously with or prior to the date of this Release in connection with
the Employment Agreement or on account of or arising out of any matter, cause,
event or omission occurring in connection with the Employment Agreement
contemporaneously with or prior to the date of this Release.
FFB hereby irrevocably covenants to refrain from, directly or
indirectly, asserting any claim or demand, or commencing, instituting or causing
to be commenced, any proceeding of any kind against Xxxxxxx based upon any
matter purported to be released hereby.
3. The provisions of this Agreement must be read as a whole and are not
severable and/or separately enforceable by either party hereto.
4. Facsimile execution and delivery of this Release is legal, valid
and binding for all purposes.
IN WITNESS WHEREOF, the undersigned have executed this Release in as of day
first set forth above.
FIT FOR BUSINESS INTERNATIONAL, INC.
By: /s/ Xxxx Xxxxxxx June 6, 2007
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Print: Xxxx Xxxxxxx, CEO Date
ACCEPTED AND AGREED:
By: /s/ Xxxx Xxxxxxx June 6, 2007
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Print: Xxxx Xxxxxxx Date
