NOTE CANCELLATION


AND


GENERAL RELEASE


 


TO ALL WHO THESE PRESENTS
SHALL COME OR MAY CONCERN, know that the undersigned, ______________________________
(the “Releasor”), in consideration of good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, from EASTERN RESOURCES, INC., a Delaware corporation (the “Releasee”), releases and discharges
the Releasee, the Releasee’s servants, agents, principals, stockholders, affiliates, employees, subsidiaries, parents, heirs,
executors, administrators, successors and assigns and the Releasee’s attorneys, together with their present, future and former
officers, directors, shareholders, partners, members, employees, agents, attorneys, parents, subsidiaries, affiliates or other
representatives, heirs, executors, administrators, successors and assigns (collectively, the “Released Parties”) from
all actions, causes of action, suits, debts, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts,
controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, any and all claims and demands
whatsoever, in law, admiralty or equity, which against the Releasee or any of the other Released Parties, the Releasor and the
Releasor’s officers, directors, employees, members, servants, agents, affiliates, subsidiaries, parents, partners, heirs,
executors, administrators, successors and assigns ever had, now have or hereafter can, shall or may have for, upon, or by reason
of any matter, cause or thing whatsoever from the beginning of the world to the date of this Release including, but not limited
to, the promissory note of the Releasee in favor of the Releasor dated [__________], in the principal amount of $[__________],
which promissory note hereby is cancelled without obligation of Releasee to make any payments of principal or interest thereon.


 


The Releasor expressly
warrants and covenants that it will not bring suit, claim or cause of action against any of the Released Parties in connection
with any and all past, present and future claims, demands, obligations, causes of action or rights which the Releasor now has or
which may hereinafter accrue.


 


This Note Cancellation
and General Release is not being signed under any duress, threat, undue influence and is being executed after adequate consultation
with counsel of Releasor’s choosing.


 


This Note Cancellation
and General Release cannot be modified orally and can only be modified through a written document signed by both parties.


 


This Note Cancellation
and General Release shall be governed by, and construed in accordance with, the laws of the State of New York without giving effect
to conflict of laws principles.


 


This Note Cancellation
and General Release may be executed in counterparts and each of such counterparts shall be deemed to be an original, and such counterparts
shall together constitute but one and the same instrument and shall bind all parties signing such counterpart.


 


[Signature Page Follows]


 



    	 



    	 



    

 


IN WITNESS WHEREOF, the parties have executed
this Note Cancellation and General Release on the ____ day of _______________, 2012.


 


	RELEASOR	 
	 	 
	By:	 	 
	 	Signature	 
	 	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	Address: