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| DDDC.OB > SEC Filings for DDDC.OB > Form 8-K on 10-Feb-2009 | All Recent SEC Filings |
10-Feb-2009
Entry into a Material Definitive Agreement, Financial Statements and Exhibits
On February 5, 2009 (the "Settlement Date"), deltathree, Inc. (the "Company") and RCN Digital Services, LLC ("RCN") entered into a Termination, Settlement Agreement and Mutual Release (the "Agreement"). Pursuant to the terms of the Agreement, the Standard Service Agreement for VoIP Telephony Services dated August 8, 2007, by and between the parties (the "Service Agreement") was cancelled. As soon as practicable but in any event no later than 37 days after the Settlement Date (the "Transfer Date"), RCN shall transfer to the Company all subscribers to the VoIP service that the Company has been providing to RCN pursuant to the Service Agreement (the "Subscribers"). The Company shall continue to provide service to RCN under the Service Agreement until the Transfer Date.
Pursuant to the terms of the Agreement, within five days of the Transfer Date RCN shall pay the Company the sum of $230,000 plus any payment amounts collected by RCN on behalf of the Subscribers. In addition, each of the parties have released and discharged the other party from any rights and causes of actions it may have toward the other party on account of all acts and omissions occurring prior to the Settlement Date.
A copy of the Agreement is attached as Exhibit 99.1 hereto.
(d) Exhibits. Exhibit No. Document 99.1 Termination, Settlement Agreement and Mutual Release, dated |
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