Exhibit 10(ii)
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TERMINATION AGREEMENT
BETWEEN
URECOATS ROOFING CORPORATION AND XXXXXXX X. XXXXXX
THIS AGREEMENT, entered and made effective as of March 19, 2001, is between
URECOATS ROOFING CORPORATION, a Delaware corporation with offices at 0000 Xxxxx
Xxxxxxxxx Xxxx, Xxxxx X-0, Xxxxxxx Xxxxx, Xxxxxxx 00000 ("Company") and XXXXXXX
X. XXXXXX, an individual with an address at 0000 X.X. 00xx Xxxxx, Xxxxxxxx,
Xxxxxxx 00000 ("Employee") (hereinafter collectively referred to as the
"Parties").
W I T N E S S E T H:
WHEREAS, the Parties entered into that certain Employment Agreement dated
March 1, 2001.
WHEREAS, the Parties are desirous of terminating said Employment Agreement
to permit Employee to enter into a new employment agreement making him President
and Chief Operating Officer of Urecoats Industries Inc., the parent company of
Urecoats Roofing Corporation.
NOW, THEREFORE, the Parties hereto hereby agree that the Employment
Agreement made and entered on the 1st day of March, 2001, between Urecoats
Roofing Corporation and Xxxxxxx X. Xxxxxx, is hereby terminated in order to
permit Employee to become President and Chief Operating Officer of Urecoats
Industries Inc., the parent corporation of Urecoats Roofing Corporation.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement this
15th day of May, 2001.
URECOATS ROOFING CORPORATION Xxxxx X. Xxxxxx
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Witness
By: /s/ Xxxxxxx Xxxxx Xxxxxx X. Xxxxxxxx
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Xxxxxxx X. Xxxxx Witness
Chairman of the Board
By: /s/ Xxxxxxx Xxxxxx Xxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx Witness
Xxxxxxx X. Xxxxxxxx
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Witness
