Resignation and Release Agreement between Israel Morgenstern and World of Tea Inc.
Israel Morgenstern resigns from all officer and director roles at World of Tea Inc. and its subsidiaries, effective immediately upon the closing of a Share Exchange Agreement involving World of Tea Inc., BroadWebAsia, Inc., and BroadWebAsia's shareholders. In return, World of Tea Inc. releases Mr. Morgenstern from any claims or liabilities related to his service as an officer and director. The agreement is signed by both parties in February 2008.
RESIGNATION AND RELEASE
I, Israel Morgenstern, hereby resign from all officer and director positions that I hold with World of Tea Inc. and any of its direct or indirect subsidiaries effective immediately upon the closing of the Share Exchange Agreement among the Corporation, BroadWebAsia, Inc. and the shareholders of BroadWebAsia, Inc.
Upon effectiveness of this Resignation, the Corporation does hereby release Mr. Israel, from and for any and all claims, proofs of claim, demands, contracts, obligations, liabilities, suits, actions and causes of action, at law or at equity, known or unknown, liquidated or unliquidated, asserted or unasserted, based on or arising out of his duties as an officer and director of the Corporation.
_________________________ | |
Israel Morgenstern | |
Dated: February __, 2008 | |
Accepted and Agreed to as of February __, 2008 | |
World of Tea Inc. | |
By: ____________________________ | |
Name: Svetlana Pojasnikova | |
Title: Secretary |