EXHIBIT 10.1
Published on August 14, 2006
EXHIBIT
10.1
TERMINATION
AGREEMENT
This
Termination Agreement is entered into by and between Core F.G. Co. Ltd. ("CFG"),
Rexahn Pharmaceuticals ("Rexahn"), Inc. and Future System, Inc. ("FSI")
(collectively referred to as the "Parties") on this 7 day of June, 2006, with
regard to the Management Agreement, Share Subscription Agreement, and
Intellectual Property Assignment & License Agreement (collectively referred
to as the "Agreements") entered into by and between the Parties on 19 day of
April, 2006.
The
Parties now desire to provide for the termination of the Agreements entered
into
by and between the Parties on 19 day of April, 2006, and agree as
follows:
1.
The
Parties agree and acknowledge that all or any rights and obligations under
the
Agreements and any other agreements, written or oral, executed by the Parties
in
the course of negotiating the Agreements, have been terminated pursuant to
rejection of proposed transactions at FSI's shareholder's meeting held on the
7th day of June, 2006.
2.
The
Parties hereby release, discharge and waive any claims, whether civil, criminal
or any other complaints, against each other arising out or in any way connected
with the termination of the Agreements.
3.
The
Parties agree and acknowledge confirm that each party shall bear its own costs
and expenses incurred in relation to the execution and delivery of the
Agreements including but not limited to attorney fees, consulting services
fees
and due diligence expenses.
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Core
F.G. Co. Ltd.:
|
Representative
Director /s/ Mr. In-Young Oh
|
|
Rexahn
Pharmaceuticals, Inc.:
|
Representative
Director /s/ Mr. Chang-Ho Ahn
|
|
Future
Systems, Inc.:
|
Representative
Director /s/ Mr. Kwang-Tae Kim
|