Settlement Agreement and Mutual Release (July 7th, 2008)
This Settlement Agreement and Mutual Release ("Agreement"), effective June 30, 2008, is by and among Frank Vazquez ("Vazquez") and Lawrence Wunderlich ("Wunderlich") (collectively, "Claimants"), and CytoGenix, Inc. ("CytoGenix").
Before the American Arbitration Association Houston Region (January 31st, 2007)
November 17, 2006 Malcolm Skolnick President & CEO Cytogenix, Inc. 3100 Wilcrest Drive, Suite 140 Houston, Texas 77042 (November 20th, 2006)
This letter constitutes my resignation from Cytogenix as Executive Vice President, Chief Operating Officer and as a Director pursuant to Section 5(f)(i) of my Employment Agreement dated January 1, 2005, for constructive termination. Such section provides that a Constructive Termination means any voluntary resignation of the Employee within twelve (12) months following: (i) A change in the Employees position with the Company without the Employees consent that materially reduces his level of authority, responsibilities and duties.