|
RELEASE OF CLAIMS
The parties to this Release of Claims (the
"AGREEMENT") are PHOENIX FORMS, INC., a Georgia corporation,
together with any and all of its affiliates and subsidiaries
("Phoenix"), and Alexander Riess ("Riess"), an individual residing
in Gwinnett County, Georgia. The Agreement shall have an Effective
Date as of April 1, 2005 (the "Effective Date").
The specific terms and conditions of this Agreement are described
more particularly as follows:
A.
INTRODUCTION
1. PURPOSE OF AGREEMENT. Phoenix, Riess and William F.
Falcon have entered into a Stock Purchase Agreement dated April 1,
2005 with VillageEDOCS Acquisition Corp. ("Acquisition Corp"), a
Florida corporation, pursuant to which Acquisition Corp has agreed
to purchase all shares of outstanding stock of Riess (the "Purchase
Agreement"). As a condition to closing of the transactions
described in the Purchase Agreement, Acquisition Corp has required
that Riess and Phoenix enter into this Agreement. The purpose
of this Agreement is to compromise, settle and dispose of all
claims, potential claims, losses, damages, demands, potential
litigation and disputes that Riess may have against Phoenix that
arise out of, relate to or in any way concern Riess' employment,
stockholder relationship, or any other relationship of Riess with
Phoenix, to the extent arising prior to the Effective Date.
2. RIESS'S RELEASE OF PHOENIX. For and in consideration
of the foregoing and the other good and valuable consideration that
is set forth in the Purchase Agreement, Riess hereby releases and
forever discharges Phoenix, as well as all of its directors,
officers, shareholders, employees, agents, representatives and
attorneys, of and from all claims that ever existed and which arose
out of, relate to or concern in any way Riess' employment,
stockholder relationship, or any other relationship of Riess with
Phoenix. This release therefore includes all claims whether
they are now known or unknown, matured or unmatured, in law or in
equity, that Riess ever had, now has or may later claim to have
against Phoenix, its directors, officers, shareholders, employees,
agents, representatives and attorneys arising out of, r
|
