Attached files
| file | filename |
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| 8-K - DOCUMENT CAPTURE TECHNOLOGIES, INC. | v206891_8k.htm |
EXHIBIT
10.1
Document
Capture Technologies, Inc.
4255
BURTON ROAD
SANTA
CLARA, CA 95128
December
29, 2010
VIA
EMAIL
Garden
State Securities, Inc.
328
Newman Springs Road
Red Bank,
NJ 07701
Attn: Ernest
Pellegrino
|
|
Re:
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Financial
Advisory Agreement dated October 29, 2010 (the “Agreement”) by and between
Document Capture Technologies, Inc. (the “Company”) and Garden
State Securities, Inc. (“GSS”)
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Dear Mr.
Pellegrino:
Please let this letter serve as notice
to GSS that the Company has elected to terminate the Agreement
immediately. Notwithstanding Sections 3 and 10 of the Agreement, by
countersigning below GSS acknowledges and agrees that the Company shall not be
required to issue any shares of its common stock to
GSS. Additionally, GSS acknowledges that it is not owed any
reimbursable expenses pursuant to Section 4 of the Agreement.
If you agree with the terms of this
termination letter please countersign this letter below and return to the
Company.
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Very
truly yours,
/s/
David P. Clark
David
P. Clark, CEO
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AGREED
AND ACCEPTED:
GARDEN
STATE SECURITIES, INC.
By: /s/
Ernest Pellegrino
Name:
Ernest Pellegrino
Title:
Director of Corporate Finance