ADDENDUM TO STOCK PURCHASE AGREEMENT
BY AND BETWEEN
SYSCOMM INTERNATIONAL CORPORATION,
("Buyer")
and
APPLIED DIGITAL SOLUTIONS, INC.
("Seller")
WHEREAS, the parties have entered into a Stock Purchase Agreement (the
"IPC Stock Purchase Agreement") relating to the purchase by Buyer and the sale
by Seller of a majority of the capital stock of Information Products Center,
Inc. ("IPC");
WHEREAS, a condition for Closing of the IPC Stock Purchase Agreement
was that a Closing of a separate agreement (the "Spielberger Agreement")
relating to the sale of a majority interest in Buyer to Seller would have been
simultaneously concluded;
WHEREAS, conditions beyond the control of the parties have precluded
the Closing of the Spielberger Agreement; and
WHEREAS, the Buyer has asked the Seller to waive such condition to
Closing. NOW, THEREFORE, the parties hereto do hereby agree as follows:
1. The closing of the Spielberger Agreement shall not be a condition to
the Closing of this Agreement.
2. The Buyer shall pay to the Seller additional consideration in the
amount of Forty Thousand ($40,000) Dollars as an inducement to the accelerated
Closing of the IPC Stock Purchase Agreement, said amount to be paid at Closing
as part of the Purchase Price.
Agreed this 14th day of
December, 2000.
SysComm International Corporation
By: /s/ Xxxx X. Xxxxxxxxxxx
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Applied Digital Solutions, Inc.
By: /s/ Xxxxxxx X. Xxxxxxxx
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