EXHIBIT 10.2
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Exhibit D
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EMPLOYMENT TERMINATION AGREEMENT
EMPLOYMENT TERMINATION AGREEMENT (the "TERMINATION Agreement") dated
August 1, 2003 by and between Accessity Corp., f/k/a xxxxxxxxxxxx.xxx Corp., a
New York corporation with offices at 00000 Xxxx Xxxxxxxx Xxxx, Xxxxx Xxxxxxx,
Xxxxxxx 00000 (the "Company"), and Xxxxx X. Xxxxxxx, with offices at c/o
Accessity Corp., 00000 Xxxx Xxxxxxxx Xxxx, Xxxxx Xxxxxxx, Xxxxxxx 00000 (the
"Executive").
W I T N E S S E T H
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WHEREAS, the Company desires that Executive's employment with the
Company be terminated upon closing of the transaction whereby the Company sells
to American Member Corp. ("American Member") all of the capital stock of
DriverShield ADS Corp., and
WHEREAS, the Executive desires to terminate his employment with the
Company upon closing of the transaction whereby American Member purchases all of
the capital stock of DriverShield ADS Corp. from the Company,
NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained herein, and other good and valuable consideration, the receipt
sufficiency of which is hereby acknowledged, the parties agree as follows:
On the Closing Date, as defined in the Stock Purchase Agreement dated August 1,
2003 by and among Accessity Corp., DriverShield ADS Corp. and American Member,
the Employment Agreement dated January 30, 2003 between Accessity Corp., f/k/a
xxxxxxxxxxxx.xxx Corp. and Xxxxx X. Xxxxxxx (the "Employment Agreement") shall
terminate with neither party having any further rights or obligation pursuant to
the Employment Agreement, including Xxxxxxxxx 00x, except as otherwise set forth
therein.
The Executive acknowledges that he will have ninety (90) days from the Closing
Date to exercise any stock options that were previously granted and are
exercisable.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date written below.
ACCESSITY CORP. XXXXX X. XXXXXXX
By:___________________________ By:_________________________
Title:__________________________ Dated:______________________
Dated:______________________
