EXHIBIT
10.18
MUTUAL
RELEASE AND
WAIVER
KNOW
ALL MEN THAT the
consideration for this Mutual Release and Waiver consists of the
following events:
1.) payment of
One Million Three Hundred Forty-Five Thousand Nine Hundred and Five
Dollars ($1,345,905) by Burk Technology, Inc. ("Burk") of 7 Beaver
Brook Road, Littleton, MA 01460 to ClearOne Communications, Inc.
("Clear") of 1825 Research Way, Salt Lake City, UT 84119;
and
2.) forgiveness
by Burk of certain claims alleged by Burk against Clear with
respect to the so-called “Remote Facilities Management
Product Line purchased by Burk from Clear’s assignor Gentner
Communication Corporation (“Gentner”) pursuant to that
certain Asset Purchase Agreement dated April 12, 2001 between Burk
and Gentner (the “Agreement”); and
3.) delivery by
Clear to Burk of that certain Non-Negotiable Installment Note dated
April 12, 2001 payable to Gentner in the principal amount of
$1,750,000, stamped by Clear as “Paid-in-full”;
and
4.) delivery by
Clear to Burk of UCC -3 Financing Statements Amendment assigning
Gentner’s security interest to Clear and then terminating
Clear’s security interest in the collateral identified in UCC
-1 Statement # 200101909530 filed on April 30, 2001 with the
Secretary of State of the Common
