7/19/04 - CASHOUT AGREEMENT FOR ABILITY TO PAY WITH RUTLAND PLASTICS TECHNOLOGIES, INC. RUTLAND AGREES TO PAY $100,000 PLUS AN ADDITIONAL SUM FOR INTEREST. PAYMENT SHALL BE MADE IN 12 QUARTERLY INSTALLMENTS. EACH INSTALLMENT, EXCEPT FOR THE FIRST, ON WHICH NO INTEREST SHALL BE DUE, SHALL INCLUDE A PAYMENT UP PRINCIPAL OF $8,333.33, PLUS AN ADDITIONAL SUM FOR ACCRUED INTEREST ON THE DECLINING PRINCIPAL BALANCE. THE FIRST PAYMENT ($8333.33) SHALL BE DUE ON SEPTEMBER 14, 2004. SUBSEQUENT PAYMENTS SHALL BE DUE QUARTERLY, ON OCTOBER 30, 2004, JANUARY 30, 2005, APRIL 30, 2005, JULY 30, 2005, OCTOBER 30, 2005, JANUARY 30, 2006, APRIL 30, 2006, JULY 30, 2006, OCTOBER 30, 2006, JANUARY 30, 2007, AND APRIL 30, 2007