ASSET PURCHASE AGREEMENT
AMENDMENT #1
This Asset Purchase Agreement Amendment #1 (Amendment) is entered into as of
this 15th day of April 2004 by and between Xxxx Xxxxx ("Seller"), and Aptus
Corp., a Delaware corporation ("Buyers"). Buyer and Seller are referred to
collectively herein as the "Parties".
WHEREAS, the Parties have entered into an Asset Purchase Agreement on January
23, 2004; and
WHEREAS, the Parties desire to amend Section 2(b), Purchase Price; and
WHEREAS, Section 2(b) shall be replaced in its entirety as follows:
(b) Purchase Price. At Closing, which shall occur on or before
January 31, 2004, unless extended, Buyer shall as follows:
1. $500,000 payable in common stock as established in Exhibit G. Subject
to the terms and conditions herein stated, the certificates
representing the common stock shall be tendered, at closing, by Buyer
to Seller, duly endorsed or accompanied by stock power(s) duly executed
in blank by Buyer, with all necessary transfer tax and other revenue
stamps, if any, acquired at Buyer's expense, affixed and cancelled.
Buyer agrees to cure any deficiencies with respect to the endorsement
of the certificate(s) representing the common stock of Buyer to be
conveyed to Seller pursuant to this Agreement, whether now or in the
future or with respect to the stock powers accompanying any such
certificate(s).
2. Upon the signing of the definitive Purchase Agreement a cash payment of
$8,500.00 3. Seller shall be granted a warrant to purchase 500,000
shares of common stock of Aptus Corp. with an exercise price of $0.50
per share and may be exercised in whole or in part at any time from
January 23, 2004 through January 22, 2014
4. The assumption by Buyer of all obligations of Seller and/or Appgen
Technologies, Inc., a Delaware corporation ("Appgen") to provide
continuing customer service and support to the existing licensee of the
CODE in accordance with the existing license agreements between such
licensees and Appgen and/or Seller.
IN WITNESS WHEREOF, the Parties hereto have executed this Purchase Agreement
Amendment #1 on as of the date first above written.
SELLER:
Xxxx Xxxxx
By: /s/ Xxxx Xxxxx
Xxxx Xxxxx
BUYER:
Aptus Corp.
By: /s/ Xxxx X. Xxxxx
Name: Xxxx X. Xxxxx
Title: President