VACATION BENEFIT AGREEMENT AND
RELEASE
This Vacation Benefit Agreement and
Release (“Agreement and Release”) dated as of
March 3, 2006 confirms the mutual understanding and agreement
between American Access Technologies, Inc. and John Presley (the
“employee”) regarding employee’s rights and
benefits incident to his past, present and future vacation benefits
from American Access Technologies, Inc., its predecessor companies,
affiliates, subsidiaries and business units, past and present,
including Omega Metals, Inc. (the “Company”). By
signing this Vacation Benefit Agreement and Release, employee
hereby acknowledges that the payment set forth in Section 1
herein is in full satisfaction of all rights to vacation related
benefits for which he may have been eligible or may be eligible
under any agreement or promise, plan or program, whether written or
oral, express or implied, or any Company sponsored vacation plan,
benefit or program, including the Company’s vacation benefit
policy included in its Employee Handbook) for all periods prior to
January 1, 2006 and the limitation on accrual of vacation
benefits set forth in Section 2 shall be effective for all
periods beginning January 1, 2006.
1. Payment for accrued vacation
benefits . All unused vacation benefits accrued for employment
prior to January 1, 2006 shall be paid by issuing to employee
shares of Company common stock with a value of $15,000 based upon
the average closing bid price as reported by The NASDAQ Stock
Market for three (3) trading days prior the date hereof, such
shares to be issued as soon as practicable after the date hereof.
Such shares shall be issued pursuant to the Company’s 2004
Em
