Consent and Waiver of Stock Options by Theodore Farnsworth for Purple Beverage Company, Inc.
Contract Categories:
Business Finance
›
Waiver Agreements
Summary
Theodore Farnsworth agrees to waive his rights to receive 2,000,000 shares of common stock previously granted as options under the 2007 Incentive Plan of Venture Beverage Company (now Purple Beverage Company, Inc.). By signing this letter, he cancels these options, making them void and available for re-issuance under the plan. This agreement is effective as of September 15, 2008.
EX-10.10 6 v126528_ex10-10.htm
CONSENT LETTER
I, Theodore Farnsworth, hereby waive all rights to receive 2,000,000 shares of common stock, par value $0.001 per share, of Purple Beverage Company, Inc. granted pursuant to options exercisable under the 2007 Incentive Plan (the “Plan”) of Venture Beverage Company, which options are hereby cancelled and shall be deemed to be null and void and have no further effect and shall be available for re-issuance under the Plan.
Dated: September 15, 2008
/s/ Theodore Farnsworth
Name: Theodore Farnsworth
