EXHIBIT 5.24
Reconnaissance Technologies Inc.
0000 Xxxxxx Xxxxxx, Xxxxx X-0
Xxxxxxxxx, Xxxxxxx Xxxxxxxx
X0X 0X0
Telephone: (000) 000-0000 / Fax: (000) 000-0000
October 14, 1999
Xxxx Xxxx & Associates
000 -000 Xxxx Xxxxxx Xxxxxx
Xxxxxxxxx, Xxxxxxx Xxxxxxxx
X0X 0X0
Attention: Xxx Xxxxx
Re: Consulting Agreement dated June 1, 1998, as amended January 25, 1999 (the
------------------------------------------------------------------------------
"Agreement")
------------
Please accept this letter as written notice of the election of Reconnaissance
Technologies Inc. (the "Company") to terminate the Agreement pursuant to section
5.3 thereof. In accordance with section 5.3, the Agreement will terminate 10
days from the date of this letter.
In accordance with section 5.4 and 5.6 of the Agreement, we confirm that within
10 business days you will receive 30,000 common shares of the Company pursuant
to the Pre-Offer Termination Option. As per your request, such shares will be
issued to the principals of Xxxx Xxxx & Associates in the amounts specified by
you. In addition, the Company will pay to you the portion of your monthly
retainer that has been billed and not yet paid, and a full one month's retainer
for the month of May, 1999. The total of such amounts, including GST, is
$7755.00.
In connection with the termination of the Agreement, we enclose a release
executed by the Company. The document, once executed by you and delivered to the
Company, releases both Xxxx Xxxx & Associates and the Company from any claims
which may arise under the Agreement. Please execute the release and return a
copy to our offices.
Reconnaissance Technologies Inc., and me personally, wish to thank you for your
service to the Company over the past 12 months. Your efforts in raising
financing were instrumental in the Company's success to date.
Yours very truly,
Reconnaissance Technologies Inc.
Per:
/s/ Xxxxxxx XxXxxx
Xxxxxxx XxXxxx
enclosure
