Exhibit 10(e)
MLS, LLC
and
MICHAEL L. SNOW
2649 ARCOLA LANE
WAYZATA, MN 55391
952-471-7777
March 28, 2002
Osmonics, Inc.
Attention: D. Dean Spatz
5951 Clearwater Drive
Minnetonka, MN 55343
Dear Mr. Spatz:
I hereby resign my position as a director of Osmonics, Inc. and hereby renounce and rescind the May 15, 2001 Agreement and any and all rights of any kind that either MLS, LLC or I may have individually, under said agreement effective upon payment to me of $200,000.00 and the vesting of all issued, but not vested options of any kind, immediately. I will also execute any reasonable release documents that the Company may request. This offer shall remain open for your acceptance until April 3, 2002, at which time, if not accepted, shall terminate and become null and void.
Very truly yours,
/s/ Michael L. Snow
Michael L. Snow
Agreed to and accepted by Osmonics, Inc. | |
|
|
|
|
By | /s/ D. Dean Spatz |
Its: | CEO |
Dated: | 1 April 2002 |
