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EXHIBIT 10.6
Aggers & Joseph
Attorneys & Counsellors at Law
Executive Commons East
29525 Chagrin Boulevard, Suite 304
Pepper Pike, Ohio 44122
Phone: (216) 765 - 8520
Fax: (216) 765 - 8817
Email: [email protected]
David F. Aggers
Kathryn T. Joseph
Vincent L. Cheverine
October 4, 2000 VIA FACSIMILE ONLY
Ronald M. Sotak, Esq.
Newbrough, Johnston, Brewer, Maddux & Sotak, L.L.P.
612 Kellogg Avenue, P. O. Box 847
Ames, Iowa 50010-0847
Re: Settlement of All Claims
Dear Ron:
The following represents the obligations which Mr. Zavaral, Mr. Hoyng
and Infotopia, Inc. are willing to undertake to effect a full and final
settlement of the matter with Cactus Jack and Jack Barringer, on claims set
forth in Case No. 4-00-CV-80520, now pending in the United States District Court
for the Southern District of Iowa. Infotopia, Inc. has deposited the sum of
$100,000.00 in the IOLTA account in the name of Aggers & Joseph. Infotopia, Inc.
has authorized me to release these funds to you via Fedwire transfer, upon our
receipt of your client's acknowledgement of agreement with the following:
1. Within twenty-four (24) hours of the receipt, the aforementioned
acknowledgement of agreement, Infotopia, Inc. will instruct RMX,
National Fulfillment, Chem Spec, Smart Inventions and Pac-Net
to ship all lures, retail boxes, bait cleaner, etc.,
freight-prepaid to the Cactus Jack's Marketing Corp. warehouse,
located at 303 Sondrol Street, Ames, Iowa 50010. Infotopia makes
no representations or guarantees as to the quantities of lures,
retail boxes, bait cleaner, etc. in those companies possession.
You will receive copies of the instructions sent to each of the
aforementioned companies; and
2. In addition to the foregoing, Pac-Net will be notified to
release, immediately, all units including Tooling, now located
in China, freight prepaid, to the Cactus Jack's Marketing Corp.
warehouse, located at 303 Sondrol Street, Ames, Iowa 50010.
Infotopia makes no representations or guarantees as to the
quantities of units in Pac-Net's possession; and
3. Fredricksen Television will be notified by Infotopia, Inc. that
all Cactus Jack Marketing Corp. shows belong to Cactus Jack
Marketing Corp. You will receive a copy of that notice as well.
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Ronald M. Sotak, Esq.
October 4, 2000
Page 2
Concerning your facsimile to me yesterday, I do not want the Release
filed with the Notice of Dismissal. Further, we require that Cactus Jack
Marketing Corp., and its officers, directors, shareholders and employees keep
all terms of settlement confidential and not disclose any terms of the
settlement unless required to do so by an appropriate court order. We would
agree only to an acknowledgement that "all matters have been settled amicably,
and the controversy was based, in large part, upon misunderstandings and
mis-communications between the parties." Please add this provision to your
Release.
The funds which I wire to you will be held in your law firm's trust
account until this office acknowledges our receipt of the filed and time
stamped, order of dismissal, with prejudice, executed by the judge in the United
States District Court for the Southern District of Iowa. If all of this is
agreeable to both you and each of your clients kindly execute your respective
acknowledgements of this agreement as provided for below.
Sincerely,
/s/ DAVID F. AGGERS
David F. Aggers
Vincent L. Cheverine
Aggers & Joseph
Attorneys for Infotopia, Inc. Ernest
Zavarol and Daniel Hoyng
Accepted and agreed to by:
/s/ JACK E. BARRINGER
---------------------------
Cactus Jack's Marketing Corporation
by Jack E. Barringer
/s/ JACK E. BARRINGER
---------------------------
Jack E. Barringer
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IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF IOWA
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CACTUS JACK'S MARKETING )
CORPORATION and JACK E. BARRINGER, )
) CASE NO. 4-00-CV-80520
)
Plaintiffs, )
)
)
)
v. )
)
)
INFOTOPIA INC., ERNEST J. ZAVAROL, ) DISMISSAL WITH
and DANIEL J. HOYNG, ) PREJUDICE
)
Defendants )
)
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COME NOW the Plaintiffs, Cactus Jack's Marketing Corporation and Jack E.
Barringer, by and through the undersigned attorney, Ronald M. Sotak, of the law
firm of Newbrough, Johnston, Brewer, Maddux & Sotak, L.L.P. 612 Kellogg Avenue,
P.O. Box 847 Ames, IA 50010-0847, and does hereby dismiss the above-captioned
lawsuit as to all named defendants with prejudice, and states as follows:
1. The parties have reached a settlement in this matter.
2. Pursuant to the terms of the settlement, this cause of action is
to be dismissed with prejudice.
NEWBROUGH, JOHNSTON, BREWER, MADDUX & SOTAK, L.L.P.
612 Kellogg Avenue, P.O. Box 847
Ames, Iowa 50010-0847
Telephone: (515) 232-1761
Fax: (515) 232-8962
By: /s/ RONALD M. SOTAK
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Ronald M. Sotak ST1000263
ATTORNEYS FOR PLAINTIFFS
copy to:
David Aggers
Jack Barringer
