TERMINATION AGREEMENT
Exhibit
10.2
THIS
TERMINATION AGREEMENT
(the
“Agreement”),
dated
as of August 31, 2007, is by and among OJSE
SMOLENENERGY,
a
corporation formed under the laws of the Russian Federation (the
“Company”)
and
RUSSOIL
CORPORATION,
a
Nevada corporation (“Russoil”)
and
the stockholders of the Company signatory hereto (the “Stockholders”).
Each
of the parties to this Agreement is individually referred to herein as a
“Party”
and
collectively, as the “Parties.”
BACKGROUND
The
Parties entered into that certain Share Exchange Agreement dated as of May
31,
2007 (the “Exchange
Agreement”).
The
Parties have been unable to effect the transaction contemplated by the Exchange
Agreement.
AGREEMENT
NOW
THEREFORE,
the
parties agree as follows:
The
Company, the Stockholders and Russoil terminate the Exchange Agreement by mutual
written consent.
The
Parties hereto have executed and delivered this Termination Agreement as of
the
date first above written.
RUSSOIL
CORPORATION
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By: |
/s/
Xxxxxxxxx Xxxxxxxxxx
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Name:
Xxxxxxxxx Xxxxxxxxxx
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Title:
President
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OJSE
SMOLENENERGY
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By: |
/s/
Xxxxxx Xxxxx
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Name:
Xxxxxx
Xxxxx
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Title:
Deputy
of the General
Director
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1
THE
STOCKHOLDERS:
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/s/
Xxxxx Kamennoy
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Xxxxx
Kamennoy
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/s/
Xxxxxx Xxxxx
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Xxxxxx
Xxxxx
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/s/
Xxxxxx Xxxxxxx
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Xxxxxx
Xxxxxxx
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2