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Termination of Letter Agreement and Security Agreement

Termination Agreement

Termination of Letter Agreement and Security Agreement | Document Parties: MTI TECHNOLOGY CORP | EMC Corporation You are currently viewing:
This Termination Agreement involves

MTI TECHNOLOGY CORP | EMC Corporation

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Title: Termination of Letter Agreement and Security Agreement
Date: 6/30/2006
Industry: Computer Storage Devices    

Termination of Letter Agreement and Security Agreement, Parties: mti technology corp , emc corporation
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                                                                   EXHIBIT 10.28

             Termination of Letter Agreement and Security Agreement

      Whereas, EMC Corporation, a Massachusetts corporation, for itself and as
agent (the "Secured Party") and MTI Corporation, a Delaware corporation (the
"Company") are parties to that certain Security Agreement dated as of December
30, 2004 (the "Security Agreement") wherein the Company granted to the Secured
Party a security interest in certain of the Company's assets; and

      Whereas, the Secured Party and the Company are parties to that certain
Letter Agreement dated as of December 30, 2004 (the "Letter Agreement" and
together with the Security Agreement, the "Agreements"); and

      WHEREAS, the Secured Party and the Company desire to terminate the
Agreements.

      NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Secured Party and the Company
agree as follows:

      1. The Agreements are hereby terminated effective immediately. Without
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