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Exhibit 10.2
TERMINATION AGREEMENT
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This Termination Agreement is made effective as of the 26th day
of April
2005 (the "Agreement"), by and between the undersigned employee
(the "Employee")
and ANTs software inc., a Delaware corporation (the
"Company").
WHEREAS, the parties hereto are parties to that certain Salary
Agreement
dated October 29, 2004, as amended by those certain Amendment
Agreements dated
January 13, 2005 and February 1, 2005 (collectively, the "Prior
Agreements"),
and
WHEREAS, the parties desire to terminate the Prior Agreements on
the terms
and subject to the conditions set forth herein.
NOW THEREFORE, in consideration of the agreements contained
herein, and
intending to be legally bound hereby, the parties hereto agree
as follows:
1. Acknowledgment. The Parties acknowledge and agree that the
contingent bonus
set forth in the Prior Agreements has been earned and is due and
the
Company shall pay the entire contingent bonus to Employee,
subject to the
Company's withholding obligations and normal payroll practices,
within
thirty days of the day of this Agreement.
2. Termination of Prior Agreements. The parties agree that the
Prior
Agreements are terminated, effective as of the date of this
Agreement.
Nothing herein is intended to or shall change the "at-will"
nature of the
Employee's employment by the Company.
3. Base Annual Salary. Subject to the Company's withholding
obligations, the
Company will pay to the Employee that certain base salary that
the Employee
received prior to the effecti
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