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October 6, 1986 Mr. Malcolm Carnahan President The Stelle Group 405 Mayfield Avenue Garland, Texas 75041 Dear Malcolm: After due consideration, I
have determined that it is in the best interest of The Stelle Group and its directors,
officers, and members that I undertake the following actions. 1. I hereby resign, effective immediately, as a member of The
Stelle Group and as a holder of any and all offices or positions of authority
within or related to The Stelle Group, including my positions as: (a) Director; (b) Trustee; and (c) Administrator
of the Philadelphia Fund of The Stelle Group. It is my intention that by the above resignations I will
sever my relationship with The Stelle Group, except as otherwise discussed in
this letter. 2. I understand that termination of the Philadelphia Fund of
The Stelle Group is in the best interest of the corporation. I also
understand that because the Philadelphia Fund was organized
as an irrevocable trust there may be significant legal expenses in
accomplishing termination of the fund. I hereby agree to pay any legal
expenses incurred in terminating the Philadelphia Fund or to reimburse The
Stelle Group for any amount paid by it as legal expenses for this purpose. My
obligation to pay or reimburse pursuant to the Mr.
Malcolm Carnahan October 6, 1986 Page 2 terms of this paragraph shall arise upon presentation by
The Stelle Group of proof of payment or proof of an obligation to pay legal
expenses incurred for purposes of terminating the Philadelphia Fund. 3. In consideration of cancellation of any money indebtedness
that was expended from the Philadelphia Fund to me
for a movie script related to my writings, estimated to be approximately
$3,000, I transfer and assign all rights, title and interest to any movie
broadcast, or other rights to my writings to The Stelle Group. 4. I agree to return to The Stelle Group any corporate records,
materials, or lists that may now be in my possession. 5. I hereby inform the directors and officers of The Stelle
Group that I refuse their offer of payment for psychological or psychiatric
counseling. I understand that this refusal may have an effect on my ability
to be accepted as a member of the organization at a
future time. I understand that I am bound by the terms of this letter. Sincerely, Richard
G. Kieninger ACCEPTED: THE STELLE GROUP By: Malcolm Carnaham Its: President DATE: October 6, 1986 3 7 8 7 d / 1 0 . 8 6 – 6 |
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