Siboney – [Letterhead of Siboney Corporation] (May 31st, 2005)
Siboney – Settlement Agreement (March 24th, 2005)
This Settlement Agreement ("Agreement") is by and between Merit Audio Visual, Inc. ("Merit"), a New York corporation with its principal place of business at 132 West 21st Street, New York, New York 10011 and doing business as Merit Software, and Siboney Corporation ("Siboney"), a Maryland corporation with its principal place of business at 325 North Kirkwood Road, Suite 300, St. Louis, Missouri 63122, Siboney Learning Group Inc. ("SLG"), a Texas corporation with its principal place of business at 325 North Kirkwood Road, Suite 300, St. Louis, Missouri 63122, and Ernest R. Marx ("Marx"), the president of Siboney Corporation and Siboney Learning Group, who resides in St. Louis, Missouri. Merit, Siboney, SLG and Marx may be referred to individually as a "Party" or collectively as the "Parties".
Siboney – December 16, 2004 Company Press Release Siboney Settles Claims in License Agreement Dispute (December 16th, 2004)
Ernest R. Bodie Marx, President of Siboney Learning Group, commented Based upon our review of the claims, as well as the uncertainties and expenses of continuing the litigation, we believe that it is in Siboneys best interest to resolve all of these matters now, without admitting any liability.
Siboney – EMPLOYMENT AGREEMENT BETWEEN SIBONEY CORPORATION AND ERNEST R. (Bodie) MARX (October 12th, 2004)
THIS EMPLOYMENT AGREEMENT is made and entered into as of the 1st day of July 2003, by and between SIBONEY CORPORATION, a Maryland corporation (Company), and ERNEST R. (Bodie) MARX (Marx).
Siboney – September 30, 2004 Ernest R. Marx Siboney Corporation 325 North Kirkwood Road, St. Louis, Missouri 63122 Dear Bodie; (October 12th, 2004)
The Executive Compensation Committee of Siboney Corporation (the Company) has approved additional compensation relating to your employment as contained in this letter agreement. This letter agreement supplements the Employment Agreement between you and the Company dated July 1, 2003 (Employment Agreement).
Siboney – July 1, 2004 Company Press Release Siboney Responds to Claims in License Agreement Dispute (July 1st, 2004)
Ernest R. Bodie Marx, President of Siboney Learning Group, commented Based upon our preliminary review of Merits court filing with our counsel, we believe that Merits claims are not valid. This appears to have been triggered by the success of our Orchard products. We obviously are disappointed that Merit would not agree to resolve the dispute without going to court. However, now that Merit has taken this step, we will defend our legal position aggressively, including anticipated counterclaims for Merits own breaches of our license agreement.