FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT
FIRST
AMENDMENT TO
THIS FIRST AMENDMENT TO STOCK PURCHASE
AGREEMENT (the “First
Amendment”) is made and entered into this 25th day
of March, 2009 (the “Effective Date”), by
and between Water Science, LLC, a Delaware limited liability company
(“Water
Science”) and EAU Technologies, Inc., a Delaware corporation (the
“Corporation”).
WITNESETH:
WHEREAS, the Corporation and Water
Science, and Water Science executed and delivered that certain Stock
Purchase Agreement, dated October 6, 2008 (the “Stock Purchase
Agreement”), pursuant to which Water Science agreed to purchase from the
Corporation, and Corporation agreed to sell to Water Science, a total of
2,500,000 shares of the Common Stock of the Corporation at a purchase price of
$1.00; and
WHEREAS, the Corporation and Water
Science desire to amend the Stock Purchase Agreement to modify the payment
schedule to the payment of the Purchased Shares.
NOW, THEREFORE, in consideration of the
mutual covenants and agreements herein contained, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:
1. Amendment. Section
2 of the Stock Purchase Agreement is hereby amended by changing the payment
dates for the Purchased Shares for the payments due on February 16,
2009, March 16, 2009 and April 15, 2009 as follows:
|
Payment
Date
|
Purchase
Price
|
Purchased
Shares
|
|
April
15th, 2009
|
$250,000
|
250,000
shares
|
|
May
15th,
2009
|
$250,000
|
250,000
shares
|
|
June
15th,
2009
|
$250,000
|
250,000
shares
|
|
July
15th,
2009
|
$200,000
|
200,000
shares
|
2. Miscellaneous.
(a) All
capitalized terms not otherwise defined herein shall have the meanings assigned
to them in the Stock Purchase Agreement.
(b) Except
as expressly set forth in this First Amendment, the Stock Purchase Agreement
shall remain unchanged and unmodified and in full force and effect.
(c) This
First Amendment may be executed in multiple counterparts, all of which shall
together be considered one and the same agreement.
[Signatures begin on following
page.]
2
IN WITNESS WHEREOF, the
parties have executed and delivered this Stock Purchase Agreement on the date
first written above.
| CORPORATION: | |||
| EAU TECHNOLOGIES, INC. | |||
|
|
By:
|
/s/ Xxxx X. Xxxxxxx | |
|
Xxxx
X. Xxxxxxx
Chief
Executive Officer
|
|||
| WATER SCIENCE, LLC: | |||
|
|
By:
|
/s/ Xxxxx X. Xxxxxxx | |
|
Xxxxx
X. Xxxxxxx, Manager
|
|||
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