AMENDMENT NO. 1
TO THE
REORGANIZATION AGREEMENT
THIS Amendment to the REORGANIZATION AGREEMENT dated November 17,
1997 (the "Agreement") is made and entered into as of the 21st day of
November, 1997, by and among XXXXXX GROUP, INC., a Delaware corporation
("Xxxxxx"), UNITED INFORMATION SYSTEMS, INC., a Florida corporation ("UIS"),
UIS INDUSTRIAL LTDA., a company organized under the laws of Brazil ("UIS
Brazil"), and the shareholders of UIS Brazil ("UIS Brazil Shareholders") and
UIS ("UIS Shareholder") whose names are set forth on Schedule A attached
thereto (the UIS Shareholders and UIS Brazil Shareholders are sometimes
collectively hereinafter referred to as "Shareholders"). UIS Brazil and the
UIS Brazil Shareholders shall be jointly and severally liable (under United
States and Brazilian laws) hereunder with respect to any representations and
warranties hereunder made by UIS Brazil and the UIS Brazil Shareholders. UIS
and the UIS Shareholder shall be jointly and severally liable hereunder with
respect to any representations and warranties hereunder made by UIS and the
UIS Shareholders.
W I T N E S S E T H:
WHEREAS, UIS, UIS Brazil, the Shareholders and Xxxxxx entered into
the Agreement on November 17, 1997; and
WHEREAS, as a condition to closing, Xxxxxx was required to have cash
on hand as of closing of not less than $2,200,000 under the terms of the
Agreement (the "Funds"); and
WHEREAS, UIS, UIS Brazil and the Shareholders wish to amend the
Agreement and waive any obligation or representation made by Xxxxxx regarding
amount of Funds.
NOW, THEREFORE, in consideration of the premises and the mutual
covenants of the parties hereinafter expressed, it is hereby agreed as
follows:
1. The obligation of Xxxxxx set forth in paragraphs 2.2(c) and 4.6(c) of the
Agreement, is hereby waived. The undersigned certifies that aforementioned
provision is being waived at the request of the UIS, UIS Brazil and the
Shareholders, for the purpose of closing.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be executed as of the date and year set forth above.
WITNESSES: XXXXXX:
XXXXXX GROUP, INC., a Delaware
corporation
----------------------------
By: /s/ Xxxxx Xxx
---------------------------- ----------------------------
Xxxxx Xxx, President
UIS:
UNITED INFORMATION SYSTEMS,
INC., a Florida corporation
----------------------------
By:
-----------------------------
----------------------------
UIS BRAZIL:
UIS INDUSTRIAL LTDA., a company
organized under the laws of Brazil
----------------------------
By:
------------------------------
----------------------------
SHAREHOLDERS:
---------------------------- /s/ Xxxxxx Xxxx
---------------------------- ---------------------------------
Xxxxxx Xxxx
---------------------------- /s/ Xxxxx Xxxxxx Xxxx
---------------------------- ---------------------------------
Xxxxx Xxxxxx Xxxx
---------------------------- /s/ Xxxx Xxxxxx Xxxxxxx xx Xxxxxx
---------------------------- ---------------------------------
Xxxx Xxxxxx Xxxxxxx xx Xxxxxx
---------------------------- /s/ Xxxxx Xxxxxxxx X. xx Xxxxxxxx
---------------------------- ---------------------------------
Xxxxx Xxxxxxxx X. xx Xxxxxxxx
2
SHAREHOLDERS SIGNATURES (con't.)
WITNESSES: SHAREHOLDERS:
/s/ Xxxxxxx Xxxxxx
---------------------------- ---------------------------------
Xxxxxxx Xxxxxx
----------------------------
/s/ Xxxxxx Xxxxx
---------------------------- ---------------------------------
Xxxxxx Xxxxx
----------------------------
/s/ Xxxx Xxxx
---------------------------- ---------------------------------
Xxxx Xxxx
----------------------------
/s/ Xxxxxxx Xxxxx
---------------------------- ---------------------------------
Xxxxxxx Xxxxx
----------------------------
3
