AMENDMENT TO AGREEMENT TO ISSUE WARRANTS
THIS AMENDMENT TO AGREEMENT TO ISSUE WARRANTS (this "Amendment") is entered
into as of April 16, 1997, by and among XXXXXX XXXXX INCORPORATED, a Nevada
corporation (the "Company"), and XXXXX XXXXXXXXX ("Huberfeld") and XXXXX XXXXXX
("Xxxxxx"), based on the following premises.
Premises
A. The parties entered into an Agreement to Issue Warrants dated January
9, 1997 (the "Agreement"), pursuant to which the Company agreed, subject to
certain conditions, to issue warrants to purchase shares of stock of the Company
at a price of $10.75 per share at any time after August 1, 1997, and prior to
the close of business on April 16, 1997 (the "$10.75 Warrants").
B. The parties wish to amend the terms of the Agreement as set forth in
this Amendment and to confirm all the others terms and provisions of the
Agreement.
Agreement
NOW, THEREFORE, based on the foregoing premises, which are incorporated
herein by this reference, and for and in consideration of the mutual covenants
and agreements herein set forth and the mutual benefit to the parties to be
derived therefrom, it is hereby agreed as follows:
1. Extension of Exercise Date. In the Agreement, Huberfeld and Xxxxxx
each agreed to deliver $879,100.40 (an aggregate of $1,758,200.90) to the
Company on or before April 16, 1997, as payment of the exercise price for their
remaining $6.25 Warrants. The parties agree that the April 16, 1997, date shall
be extended to June 6, 1997, and that the modification of the exercise date
shall supersede and govern over conflicting terms or provisions that may be
contained in the Agreement.
2. Ratification of the Agreement. Except as specifically provided in
paragraph 1 of this Amendment, the parties hereby specifically ratify, confirm,
and adopt as binding and enforceable, all of the terms and conditions of the
Agreement.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed as of the date first above written.
The Company:
Xxxxxx Xxxxx Incorporated
By /s/
Xxxxx X. Xxxxxx, President
Huberfeld:
/s/
Xxxxx Xxxxxxxxx
Address: 000 Xxxx 00xx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Xxxxxx:
/s/
Xxxxx Xxxxxx
Address: 000 Xxxx 00xx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
