EXHIBIT 99.2
AMENDMENT NUMBER 1 TO THE MANUFACTURING AGREEMENT BETWEEN
SUNRISE TECHNOLOGIES, INC. AND C-MAC WEST COAST OPERATIONS, INC.
THIS AMENDMENT is made this 19th of October 2001 by and between Sunrise
Technologies International, Inc. and C-MAC West Coast Operations, Inc. to the
Manufacturing Agreement dated August 2, 2001.
Whereas Sunrise desires to receive a prepayment of approximately $1,500,000 for
the inventory transferred to C-MAC by October 22, 2001.
Whereas C-MAC desires to receive a one-time discount to the amounts due Sunrise
for the transfer of said inventory.
NOW THEREFORE, in consideration of the mutual promised contained herein, Sunrise
and C-MAC agree to the following:
1. Sunrise has shipped approximately $5,500,000 of inventory to
C-MAC of which $2,000,000 has been paid.
2. Sunrise will ship approximately an additional $450,000 over
the next several weeks.
3. Sunrise is desirous of receiving $1,500,000 by Monday, October
22, 2001.
4. In return, Sunrise will forgive $500,000 of the outstanding
balance and will ship the remaining $450,000 at no cost to
C-MAC. In addition, Sunrise will dispense from requiring any
further additional cash transfers from C-MAC and C-MAC may
utilize the funds to offset any future product deliveries to
Sunrise, approximately eighteen units.
5. Transaction flow is as follows:
Total outstanding liability to Sunrise $3,500
Additional shipments 450
------
Subtotal of C-MAC payable 3,950
Forgiveness (950)
Payment to Sunrise(prepay amount) (1,500)
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Net to be applied to 18 units $1,500
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6. The remainder of any inventory transferred over and above the
agreed upon $5,950,000 will be paid for by C-MAC by February
15, 2002.
IN WITTNES WHEREOF, the parties hereto have caused this Amendment to be executed
by their dully-authorized respective officers or employees as of the day and
year written below:
C-MAC West Coast Operations
By: ________________________
Name:_______________________
Title:______________________
Date:_______________________
Sunrise Technologies International, Inc.
By: ________________________
Name:_______________________
Title:______________________
Date:_______________________
