Exhibit 10.6
Xxxxxx Xxxxx
Xxxxx 00, 0000
Xxxxxxx Group, Inc.
00 Xxxxxxxx
Xxx Xxxx, XX 00000
Re: Shelron Group, Inc. Subscription Agreement, dated January 4, 2005
(hereinafter "Agreement")
Dear Xx. Xxxxx,
I understand that further clarification is needed with respect to my
previous Agreement and allowing for extensions of Shelron's obligation to
register on a registration statement filed with the Securities and Exchange
Commission 18,500,000 shares of common stock (the "Shares") pursuant to the
Agreement.
Please be advised that the extensions previously granted to Shelron were
meant to be amendments to the provisions of the Agreement that provided for
filing a registration statement to register the Shares within a specified time
frame. The extension letters contained agreed upon terms by Shelron and myself
and were meant to amend the Agreement so that all matters relating to the timing
of the filing of the registration statement covering the Shares are within
Shelron's control so that Shelron can use its best efforts to file the
registration statement. Any references in the extension letters to penalties
that may be triggered or accrue as a result of not filing on a timely basis are
eliminated by this letter. Furthermore, I hereby irrevocably agree not to
rescind the Agreement, or otherwise demand repayment of the purchase price for
the Shares issued in connection with the Agreement due to Shelron's failure to
register the Shares as was contemplated in the Agreement.
I hope the foregoing clarifies my position with respect to amending the
Agreement as said.
Sincerely,
/s/ Xxxxxx Xxxxx
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Xxxxxx Xxxxx
AGREED AND ACCEPTED
Shelron Group, Inc.
/s/ Eliron Yaron
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Name: Eliron Yaron
Title: Chairman
