AMENDMENT TO THE INVESTMENT AGREEMENT
AMENDMENT
TO THE INVESTMENT AGREEMENT
This
Amendment to the investment Agreement is made as of the 24 day of July
2007.
BETWEEN
ALLIANCE
RECOVERY CORPORATION, a Delaware corporation (the
"Company”),
AND
DUTCIIESS
PRIVATE EQUITIES FUND, LTD. (THE "INVESTOR")
WHEREAS,
the Company and the Investor executed that certain Investment Agreement dated
May 29, 2007.
WHEREAS,
the Company and the Investor desire to amend the Investment Agreement o remove
language regarding the Company's right to withdraw that portion of the put
that
is below the Minimum Acceptable Price, as defined within the Investment
Agreement.
NOW,
THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Amendment
to the Investment Agreement, and for other good and valuable consideration
the
receipt and adequacy of which are hereby acknowledged, the Company and the
Investor agrees as follows:
|
1)
|
Section
2(C) Company's Right of Withdrawal shall be
removed.
|
|
2)
|
All
terms within Section 2 of the Investment Agreement shill be adjusted
to
reflect the appropriate reference
section.
|
|
3)
|
All
other terms of the Investment Agreement shall remain in full force
and
effect.
|
ALLIANCE
RECOVERY CORPORATION
By: /s/ Xxxxx
Xxxxxxx
XXXXX
XXXXXXX, C.E.O.
DUTCHESS
PRIVATE EQUITIES FUND, LTD.
By: /s/ Xxxxxxx
Xxxxxxxx
Title: Xxxxxxx
Xxxxxxxx, Director
