Settlement Letter Agreement between U.S. Department of Labor and Entrade, Inc. dated October 10, 2007
This letter agreement confirms that the U.S. Department of Labor, Employee Benefits Security Administration (EBSA), and Entrade, Inc. have agreed to settle all claims in an administrative case for $13,000. Entrade, Inc. must pay this amount within ten days to the U.S. Department of Labor. Upon receipt of payment, a stipulation and order for dismissal will be filed to formally close the case. This agreement resolves all claims asserted by EBSA against Entrade, Inc. in the referenced matter.
EXHIBIT 10.41
| U.S. Department of Labor | Office of the Solicitor Washington, D C. 20210 |  |
October 10, 2007
Via Facsimile (949) ###-###-#### and U.S. Mail
Robert J. Kane
John F. Canon
Stradling Yocca Carlson & Rauth
660 Newport Center Drive
Suite 1600
Newport Beach, CA ###-###-####
| Re: | U.S. Department of Labor v. Entrade, Inc., |
OALJ Case No. 2007-RIS-00126; EBSA Case No 06-4107D
Dear Gentlemen:
We have reviewed your settlement proposal and justification, and agree to settle the matter referenced above. Complainant U.S. Department of Labor, Employee Benefits Security Administration (“EBSA”) accepts your $13,000 settlement offer.
By mutual agreement, payment by Entrade, Inc., in the amount of $13,000 will settle all claims that EBSA asserted against the company in the administrative matter referenced above. Enclosed for your review and signature is a stipulation and order for dismissal, which we will file with the administrative law court after EBSA receives your settlement payment.
Payment of the $13,000 settlement amount should be made payable to the “U.S. Department of Labor” and should include thereon this case reference number 06-4107D.
The payment should be remitted within ten days of the date of this letter to:
Regular U.S. Mail
U.S. Department of Labor
ERISA Civil Penalty
P.O. Box 70942
Charlotte, NC ###-###-####
If you desire to send payment by overnight service, please remit to the following address:
For overnight courier (i.e. FEDEX) the new address is:
U.S. Department of Labor
QLP Wholesale Lockbox – NC0810
Lockbox # 70942
1525 West WT Harris Blvd
Charlotte, NC 28262
