EXHIBIT 10.1
 

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6295 Northam Drive, Unit 8
Mississauga, Ontario L4V 1W8
T: 905.673.8501 • F: 905.673.9865

 

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December 21, 2010

Chandra Panchal
303 Baffin, Dollard Des-Ormeaux
Quebec H9A 3G4 Canada

Re:
Lock-Up Agreement Dated March 23, 2010 between CardioGenics Holdings Inc. and
Chandra Panchal (the “Lock-up Agreement”)

 
Dear Chandra:
 
This will confirm our understanding that the Lock-Up Agreement, pursuant to
which you agreed to lock-up 125,742 shares of CardioGenics common stock held by
you in accordance with the terms of the Lock-Up Agreement, is hereby terminated
as of the date of this letter.

If the foregoing accurately reflects our understanding regarding the termination
of the Lock-Up Agreement, please indicate your agreement and acceptance by
signing in the space provided below and returning the signed copy of this letter
to me.
 

Very truly yours,         CARDIOGENICS HOLDINGS INC.                            
    By:
/s/ Yahia Gawad
   
 
   
Name: Yahia Gawad
   
 
   
Title: Chief Executive Officer
   
 
    Date: December 21, 2010        

 

AGREED AND ACCEPTED:                                 By:
/s/ Chandra Panchal
   
 
   
Chandra Panchal
   
 
   
Date: December 21, 2010
   
 
 

 

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