Termination of Employment Agreement and Board Resignation between Patrick White and Document Security Systems, Inc.
This letter confirms the mutual agreement between Patrick White and Document Security Systems, Inc. to terminate Mr. White’s Employment Agreement, effective December 1, 2012, provided the company signs and returns an Amended Consulting Agreement by November 30, 2012. The letter also serves as Mr. White’s resignation from the company’s Board of Directors, effective the same date and subject to the same condition.
November 15, 2012
Document Security Systems, Inc.
36 West Main Street
Rochester, New York 14614
Attn: Philip Jones, CFO
| Re: | Termination of Employment Agreement |
Dear Phil:
This letter confirms our mutual agreement to terminate my Employment Agreement with Document Security Systems, Inc. (the “Company”), dated June 12, 2004, pursuant to Section 8(f) thereof, effective as of December 1, 2012; provided, however, that termination of my Employment Agreement is expressly conditioned upon the Company’s signing and returning an original copy of the attached Amended Consulting Agreement to me by close of business on November 30, 2012.
Please also accept this letter as my resignation from the Board of Directors of the Company, effective December 1, 2012, subject to the condition precedent set forth above.
| Sincerely, | ||
| /s/ Patrick White | ||
| Patrick White | ||
| So Agreed: Document Security Systems, Inc. | ||
| By | /s/ Philip Jones | |
| Philip Jones, CFO | ||
