STANDSTILL AGREEMENTWithout Prejudice Standstill Agreement • April 17th, 2006 • Envirokare Tech Inc • Miscellaneous plastics products • New York
THIS STANDSTILL AGREEMENT (the "Agreement"), dated as of April 14, 2006, is made and entered into by and between Envirokare Tech, Inc. ("Company"). a Nevada corporation, with its principal offices at 641 Lexington Avenue,14th Floor, New York, New York 10022 and Steve Pappas ("SP") residing at 44 87th Street, Brooklyn, New York 11209-4216. WHEREAS, a dispute between the parties hereto is presently pending in the United States District Court, Southern District of New York (Civil Action No. 05-cv-05515 (LAK)), (the "Litigation"); and WHEREAS, the parties hereto are desirous of discontinuing the Litigation on the terms and subject to the conditions set forth in this Agreement. NOW, THEREFORE, in consideration of the foregoing and the mutual agreements set forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
