Resignation Letter of J. Frank Martin from Ventures-National Incorporated Board of Directors

Contract Categories: Human Resources › Separation Agreements
Summary

J. Frank Martin has submitted his resignation as a member of the Board of Directors and any related committees of Ventures-National Incorporated (VNI), effective June 27, 2005. He confirms there is no disagreement with VNI and that the company has met all its financial obligations to him, with no further compensation owed. All previously granted stock options and warrants remain valid and exercisable. The letter expresses well wishes to VNI and its team.

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EX-10.1 2 titan8kex101.htm TITAN 8K EXHIBIT 10.1 Titan 8K Exhibit 10.1
Exhibit 10.1
 
June 27, 2005
 
Mr. David Marks
Chairman
Ventures-National Incorporated ("VNI")
1818 North Farwell Avenue
Milwaukee, Wisconsin 53202
 
Dear David:

I hereby tender my resignation as a member of the Board of Directors of VNI, together with any committees of or appointed by the Board. This resignation was not the result of any disagreement between VNI and me.

Further, this confirms that VNI has fulfilled all financial obligations to me, owes me no other sums, including salary, commissions, expense reimbursements, stock options, or stock warrants or any other consideration of any kind whatsoever. All stock options or warrants previously granted are still valid and with rights of exercise.

I wish you and the VNI team the very best.

 
     
   
 
 		  
 		  
 
Date: June 27, 2005 By:   /s/ J. Frank Martin
 
J. Frank Martin