EXHIBIT 10.9
AMENDMENT TO AGREEMENT DATED OCTOBER 30, 1998
On October 30, 0000 Xxxxxxxxxxx xx Xxxxxx ("GdM") and Seismic International,
Inc. ("INTERNATIONAL") entered into a contract (the "Contract"). Both parties
have agreed with the execution of this amendment to modify the Contract to
allow for different terms of payment as outlined in paragraph 3 of the
contract and to grant INTERNATIONAL additional time to perform the services as
outlined in paragraph 4 of the contract. The two paragraphs in question shall
be amended in their entirety to read as follows:
3. INTERNATIONAL acknowledges the receipt of FIVE HUNDRED THOUSAND
AND NO/100 DOLLARS ($500,000.00) from GdM as part consideration
under this Agreement. GdM agrees to pay INTERNATIONAL an
additional consideration of SEVEN MILLION AND NO/100 DOLLARS
($7,000,000). The first 50% or THREE MILLION FIVE HUNDRED
THOUSAND DOLLARS ($3,500,000) will be due and payable upon the
arrival of the equipment and prior to commencement of the work.
The balance of THREE MILLION FIVE HUNDRED THOUSAND DOLLARS
($3,500,000) will be due upon delivery of the detailed map(s)
and related information described.
4. INTERNATIONAL shall be given 90 days to commence the work and
120 days to complete the detailed interpretive map(s) and
related information from March 31, 1999. Geophysical de Mexico
acknowledges that the FIVE HUNDRED THOUSAND DOLLARS ($500,000)
advanced to NORTH AMERICAN GEOPHYSICAL on behalf of the Contract
with INTERNATIONAL has been spent on gathering information and
testing the site for the benefit of both parties and
INTERNATIONAL will not be obligate to refund any funds.
Accepted: Accepted:
/s/ Encino Xxxxxx Xxxxx /s/ Xxxxxxx X. Xxxxxxx
____________________ March 18, 1999 _____________________ March 18, 1999
Administrator Uniro Xxxxxxx Xxxxxxx, President
Geophysical de Mexico Seismic International, Inc.
