Mutual General Release Agreement between CPSM, Inc. and Sundook's Advanced Pool Services, LLC and Lighthouse Pool Supply, Inc.

Summary

CPSM, Inc. and Sundook's Advanced Pool Services, LLC (including Lighthouse Pool Supply, Inc.) have agreed to settle all disputes related to the sale of Sundook's to CPSM. In exchange for $10,000 paid by CPSM, both parties release each other from any claims or liabilities arising from the transaction up to the date of this agreement. Sundook's will also transfer 417,000 shares of CPSM stock back to CPSM and relinquish any interest in a specific retail store. Certain agreements, such as non-competition clauses, will remain in effect.

EX-10.2 16 mutualgeneralreleasefullyexe.htm EXHIBIT 10.2 Mutual general release

M U T U A L   G E N E R A L   R E L E A S E

This mutual general release is executed on March 18. 2016, by and between CPSM, Inc., referred

to below as "CPSM," and Sundook's Advanced Pool Services, LLC and Lighhouse Pool Supply.

Inc., collectively referred to below as "Sundook's."

Disputes  and  differences  have  arisen  between  the  parties  with  respect  to  that  certain  Asset

Purchase Agreement, Addendums and documentation on the sale of Sundook's to CPSM.

The parties have agreed to amicably resolve, settle and compromise all disputes and differences

they  have  or  may  have  arising  out  of  facts  or  occurrences  existing  as  of  this  date,  known  or

unknown,   which   are   released   below.

Therefore,   in   consideration   of   the   mutual   covenants   contained   in   this   release,   and   the   sum   of   Ten

Thousand  Dollars,  ($10,000.00)  paid  to  Sundook's  by  CPSM,  the  receipt  and  sufficiency  of

which is acknowledged by Sundook's, each party (the releasing party) remises, releases, acquits,

satisfies,  and  forever  discharges  the  other  party  (the  released  party)  and  its  heirs,  personal

representatives, successors, assigns, employees, agents and attorneys of and from all actions,

suits,  debts,  dues,  sums  of  money,  accounts,  reckonings,  bonds,  bills,  specialties,  covenants,

attorney's fees, expenses, contracts, controversies, agreements, promises, variances, damages,

judgments,  executions,  claims  and  demands,  in  law  or  in  equity,  which  the  releasing  party  ever

had, now has, or may have, or which any personal representative, successor, heir or assign of the

releasing  party,  subsequently  can,  shall  or  may  have,  against  the  released  party  or  its  heirs,

personal representatives, successors, assigns, employees, agents or attorneys, for, on or by reason

of any matter, cause or thing, from all matters relating to the purchase and sale of Sundook's by

CPSM commencing upon the date negotiations began for the purchase and sale of Sundook's by

CPSM   to   the   date   of   this   release.

Sundook's, in further consideration of the amounts paid to it by CPSM shall transfer, remit, and

assign  all  of  its  right  title  and  interest  in  the  417.000  Shares  of  CPSM  Stock  to  CPSM.

Sundook's  will  have  no  right  title  or  interest  in  that  certain  retail  store  or  its  contents  located  at

4064 SE Seward Drive, Stuart Florida. All other covenants and agreements that were meant to

survive the closing of the sale of Sundook's to CPSM shall remain including but not limited to

the non-competition agreements.

In witness, the parties have executed this mutual general release on the date first written above.

S U N D O O K ' S   A D VA N C E D    P O O L

S E RV I C E S .   L L C   a n d   L I G H T H O U S E

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