Termination of Consulting Agreement between Innova Holdings, Inc. and Stratex Solutions, LLC

Summary

Innova Holdings, Inc. and Stratex Solutions, LLC have agreed to end their previous consulting agreement, effective June 14, 2005. This termination is contingent upon both parties signing a new employment agreement with Eugene Gartlan. After this date, the consulting agreement will no longer be valid, except that certain stock options previously granted to the consultant will now be governed by the new employment agreement.

EX-10.3 3 v021072_ex10-3.txt Exhibit 10.3 TERMINATION OF CONSULTING AGREEMENT Agreement made and entered into as of June 30, 2005 between Innova Holdings, Inc. (the "Company") and Stratex Solutions, LLC (the "Consultant"). Whereas, the Company and Consultant have entered into a Consulting Agreement dated as of February 1, 2005 (the "Consulting Agreement"). Whereas, the Company and Consultant desire to terminate the Consulting Agreement. Now, therefore, for good and valuable consideration, the parties agree as follows: Effective as of June 14, 2005, and simultaneously with and conditioned upon the execution by all parties of that certain Employment Agreement dated June 30, 2005, between the Company and Eugene Gartlan (the "Employment Agreement"), the Consulting Agreement is hereby terminated, and of no further force and effect, except to the extent that certain stock options granted to Consultant shall be subject to the provisions of the Employment Agreement. In witness whereof, this Agreement is entered into as of the day and year first above written. INNOVA HOLDINGS, INC. BY: /s/ Walter Weisel ----------------- Walter Weisel, Chairman and CEO STRATEX SOLUTIONS, LLC BY: /s/ Eugene Gartlan ------------------ Eugene Gartlan, President