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• <br /> Page 3 <br /> Scott & Candy Snook r! l <br /> Dispute Resolution Offer -� <br /> June 20, 2003 <br /> Settlement Agreement i" <br /> Between <br /> Emerald Valley BMX (EVBMX) and Scott & Candy Snook <br /> Emerald Valley BMX and it's Members will consider all claims against Scott and Candy Snook fully <br /> resolved if it is agreed that: <br /> 1) The Snook's will legally and irrevocably assign all their interests in the Oasis BMX operation and <br /> all other BMX operations which they may have ownership interests within a 100 -mile radius of <br /> Eugene, Oregon to Emerald Valley BMX (EVBMX), a non - profit organization domiciled in the <br /> State of Oregon. Full and unencumbered assignment of the Oasis BMX sanction agreement with <br /> the American Bicycle Association (ABA) and all other BMX sanctions owned by the Snook's <br /> within a 100 -mile radius of Eugene, Oregon will immediately and i rrevocably transfer to the <br /> ownership of EVBMX. The Snook's will also assign any assignable Lease interests with the Lane <br /> County Fairgrounds to Emerald Valley BMX and/or assist EVBMX with obtaining an operational <br /> Lease agreement from Lane County Fairgrounds as favorable as the Lease that Oasis BMX has <br /> operated under during 2002. <br /> 2) The Snook's will agree to a 'Covenant Not To Compete' with Emerald Valley BMX. Snook's will <br /> agree not to be employed by, own, operate, manage, consult, or serve as executive board members <br /> for any BMX sanctioned or unsanctioned related activities, organizations or facilities within a 100 - <br /> mile radius of the city of Eugene, OR for a period not less than 10 years. Snook's are welcome to <br /> volunteer and participate at existing BMX facilities within 100 -mile zone of Eugene, OR <br /> excluding these activities; officiating at races, aiding or operating registration or concessions at <br /> races. Snook's will immediately cease and desist any and all activities related to establishing any <br /> new sanctioned or unsanctioned BMX organizations, facilities, or activities within a 100 -mile <br /> radius of Eugene, OR. <br /> 3) The Snook's will agree to assist Emerald Valley BMX by making themselves available and <br /> providing and/or producing records or documents that may be necessary for Tax Return and State <br /> of Oregon Department of Justice reporting requirements of Emerald Valley BMX for any Tax or <br /> Reporting years between 1994 and 2002. <br /> 4) In the event of litigation arising out of this agreement the prevailing party shall be entitled to <br /> recover reasonable attorney fees from the other party, including fees on appeal and in adversary <br /> proceedings in United States Bankruptcy Court. <br /> This agreement is accepted by affixing the parties' signatures below, and is effective this day of June 2003. <br /> X X <br /> Scott Snook Candy Snook <br /> X X <br /> EVBMX Track Operator /Officer EVBMX President/Officer <br /> X X <br /> EVBMX Vice - President/Officer EVBMX Secretary/Officer <br /> X <br /> EVBMX Treasurer /Officer <br />