EXHIBIT 10.8
TERMINATION AGREEMENT
The undersigned agree that the Management Agreement dated July 30, 2004, between
National Patent Development Corporation ("NPDC") and GP Strategies Corporation
("GP"), pursuant to which it was contemplated NPDC would provide certain
services to GP, is hereby terminated effective June 30, 2005.
NPDC and GP further agree that all amounts owed for Services rendered by NPDC to
GP under the Management Agreement have been paid as of the date hereof, and that
NPDC is not obligated to provide any Services after June 30, 2005.
Any representations, warranties or covenants which by their terms were intended
to survive the termination or expiration of the Management Agreement shall so
survive to the extent, intended therein. Capitalized terms in this Termination
Agreement that are defined in the Management Agreement shall have the meanings
ascribed to them in the Management Agreement.
IN WITNESS WHEREOF, GP and NPDC have caused this Termination Agreement to be
executed by their authorized representatives as of July 1, 2005, intending to be
legally bound.
GP Strategies Corporation National Patent Development Corporation
By: _______________________________ By: ___________________________________
Title: Title:
