AMENDMENT NO. 1 TO STOCK OPTION AGREEMENT
Exhibit 99.4
AMENDMENT NO. 1 TO STOCK OPTION AGREEMENT
This Amendment No. 1 made as of July 9, 2008 relates to the Stock Option Agreement entered
into as of February 12, 2008, by and among Iroquois Master Fund Ltd. and Xxxxx Capital LP as
Optionees and Xxxxxx and Xxxxx Xxxxxxxxx as Stockholders.
For mutual good and valuable consideration and the mutual covenants, conditions and agreements
herein contained, and other good and valuable consideration and intending to be legally bound, the
parties hereto hereby agree as follows:
1. The right to exercise the Option is extended until (i) July 11, 2009, or (ii) such later
date pursuant to Section 2 of the Stock Option Agreement.
2. The Purchase Price is reduced to $1.50 for each Option Share, subject to further adjustment
as described in the Stock Option Agreement.
3. Capitalized terms employed herein shall have the meanings given to them in the Stock Option
Agreement.
4. Except as modified herein, all of the terms of the Stock Option Agreement remain in full
force and effect.
5. All of the venue, jurisdiction, notice and miscellaneous provisions of the Stock Option
Agreement apply to this Amendment No. 1.
6. This Amendment No. 1 shall be effective immediately.
IN WITNESS WHEREOF, the undersigned have executed this Amendment No. 1 as of the first date
above written.
/s/ Xxxxxx Xxxxxxxxx
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/s/ Xxxxx Xxxxxxxxx
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OPTIONEES
IROQUOIS MASTER FUND LTD.
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XXXXX CAPITAL LP | |||
/s/ Xxxxxxx Xxxx
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/s/ Xxxxxx Xxxxx
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Its: Authorized Signatory
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Its: Authorized Signatory |
ACKNOWLEDGED:
/s/ Grushko & Xxxxxxx, P.C.
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