EXHIBIT 10.1.2
AGREEMENT AMENDMENT
THIS AGREEMENT AMENDMENT, effective as of July 1, 1998, modifies the
LICENSE AGREEMENT, as previously revised on December 1, 1989, and modified by
letter agreement on November 10, 1993, and by amendments on July 31, 1997 and
May 7, 1998, between Kansas State University Research Foundation (hereinafter
the "FOUNDATION") and WTC Industries, Inc. (formerly referred to as "WATER
TECHNOLOGIES," hereinafter "LICENSEE") relating to the commercialization of
certain polyiodide water disinfectant technologies and improvements thereof, as
follows.
1. FOUNDATION agrees to accept four hundred and twenty-five thousand (425,000)
restricted shares of WTC Industries, Inc. common stock in lieu of both (a)
removal of the restriction on seventy-five thousand (75,000) shares issued
in relation to the amendment of July 31, 1997; and (b) issuance of three
hundred and sixty-five thousand (365,000) shares of unrestricted stock to
be issued in relation to the amendment of May 7, 1998.
2. The 425,000 new shares of common stock to be issued in accordance with this
AGREEMENT AMENDMENT will be transmitted promptly to FOUNDATION upon
execution of this AMENDMENT.
3. The FOUNDATION and LICENSEE agree that the restriction on the five hundred
thousand shares to be held by the FOUNDATION will be removed on or before
May 7, 1999.
4. Subject to their trading restriction prior to registration with the
Securities and Exchange Commission, the restricted shares held by the
FOUNDATION shall receive all other rights and privileges of the common
stock of WTC Industries, Inc. that do not contravene any existing laws and
regulations.
5. All other terms, conditions, and obligations of the underlying and amended
LICENSE AGREEMENT shall remain unchanged.
IN WITNESS WHEREOF, the parties hereto caused this AGREEMENT AMENDMENT
to be duly executed by their duly authorized representatives.
KANSAS STATE UNIVERSITY RESEARCH FOUNDATION WTC INDUSTRIES, INC.
Recommended: Agreed:
By: /s/ Xxxxxx X. Xxxxxxx By: /s/ Xxxxxx X. Xxxx, Xx.
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Xxxxxx X. Xxxxxxx Xxxxxx X. Xxxx, Xx.
President, Mid-America President
Commercialization Corporation
Date: July 13, 1998 Date: July 24, 1998
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Agreed:
By: /s/ X. X. Xxxxxx
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X. X. Xxxxxx
President
Date: July 14, 1998
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