ContractSettlement Agreement and Mutual General Release settlement Agreement • June 23rd, 2006 • 4 Kids Entertainment Inc • Patent owners & lessors
SETTLEMENT AGREEMENT AND MUTUAL GENERAL RELEASE SETTLEMENT AGREEMENT and MUTUAL GENERAL RELEASE entered into as of June 19, 2006 by and among The Summit Media Group, Inc. 1414 Avenue of the Americas, New York, NY 10019 (“Summit”), The Beacon Media Group L.L.C. (“Beacon”), Sheldon Hirsch (“SH”), Tom Horner (“TH”) and Paul Caldera (“PC”) (Beacon, SH, TH and PC are hereafter collectively referred to as “Defendants”), 1250 Broadway, Suite 1802, New York, NY 10001 (Summit and Defendants are hereafter collectively referred to as the “parties”). W I T N E S S E T H : WHEREAS, The Summit Media Group, Inc. (“Summit”) filed suit against Defendants in the Supreme Court of the State of New York, County of New York in an action entitled Summit Media Group vs. Beacon Media Group (“Case”); and WHEREAS, the Defendants deny the validity of the allegations set forth in the Case and have claims that could be asserted against Summit; and WHEREAS, Summit and Defendants wish to enter into this Settlement Ag
