EX-10
from 8-K
3 pages
Release and Settlement Agreement This Mutual Release and Settlement Agreement (The “Agreement”) Is Entered Into as of August 21, 2009 and Is by and Between Qualsec, a Wyoming Corporation (“Qualsec” or the “Company”) and Arden Kelton (“Kelton”), an Individual, Collectively, the Parties. R E C I T a L S Whereas, Kelton Owns 15,300,000 Shares of Qualsec, and Is Owed Various Amounts From Qualsec for Compensation; and Whereas, Qualsec Has Determined Not to Continue Its Development of the Electronic Olafactory Device; and Whereas, the Parties Hereto Desire to Arrange for the Mutually Satisfactory Termination of Any Obligations of the Parties Arising Out of or Relating to Kelton’s Association With the Company. in Consideration of the Foregoing Recitals, the Parties Agree as Follows: 1. Incorporation of Recital Paragraph. the Recitals Are Incorporated Herein by This Reference. 2
12/34/56
EX-10
from 8-K
2 pages
Release and Settlement Agreement This Mutual Release and Settlement Agreement (The “Agreement”) Is Entered Into as of August 21, 2009 and Is by and Between Qualsec, a Wyoming Corporation (“Qualsec” or the “Company”) and Arden Kelton (“Kelton”), an Individual, Collectively, the Parties. R E C I T a L S Whereas, Kelton Owns 15,300,000 Shares of Qualsec, and Is Owed Various Amounts From Qualsec for Compensation; and Whereas, Qualsec Has Determined Not to Continue Its Development of the Electronic Olafactory Device; and Whereas, the Parties Hereto Desire to Arrange for the Mutually Satisfactory Termination of Any Obligations of the Parties Arising Out of or Relating to Kelton’s Association With the Company. in Consideration of the Foregoing Recitals, the Parties Agree as Follows: 1. Incorporation of Recital Paragraph. the Recitals Are Incorporated Herein by This Reference. 2
12/34/56
EX-10
from 8-K
1 page
Release and Settlement Agreement This Mutual Release and Settlement Agreement (The “Agreement”) Is Entered Into as of August 21, 2008 and Is by and Between Qualsec, a Wyoming Corporation (“Qualsec” or the “Company”) and Arden Kelton (“Kelton”), an Individual, Collectively, the Parties. R E C I T a L S Whereas, Kelton Is Presently Serving as a Director and Officer of Qualsec,; and Whereas, the Parties Have Agreed to Terminate Kelton’s Services as an Officer and Director of the Company; and Whereas, the Parties Hereto Desire to Arrange for the Mutually Satisfactory Termination of Any Obligations of the Parties Arising Out of or Relating to Kelton’s Association With the Company. in Consideration of the Foregoing Recitals, the Parties Agree as Follows: 1. Incorporation of Recital Paragraph. the Recitals Are Incorporated Herein by This Reference. 2
12/34/56