EXHIBIT 10.29
FIRST AMENDMENT TO STOCK REDEMPTION AGREEMENT
This is the First Amendment to the Stock Redemption Agreement dated
September 10, 2003, by and among MERITAGE HOSPITALITY GROUP INC., a Michigan
corporation whose address is 0000 Xxxx Xxxxxxxx Xxx., X.X., Xxxxx 000, Xxxxx
Xxxxxx, Xxxxxxxx 00000 ("MERITAGE"), and XXXXXX X. XXXXX ("XXXXX") and XXXXX X.
XXXXX, husband and wife, whose address is 0000 Xxxxxxxxx Xx., X.X., Xxxxx
Xxxxxx, Xxxxxxxx 00000 (collectively "THE XXXXX'X").
FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which is
hereby acknowledged, the parties agree to the following amendments to the Stock
Redemption Agreement dated September 10, 2003:
1. Paragraph 8 is amended such that the "PRIVATE PLACEMENT" as defined
therein now includes the revised placement as more fully described in Supplement
No. 1 to Private Placement Memorandum of Meritage Hospitality Group Inc.
attached hereto as Exhibit A. Accordingly, any reference to a closing on the
sale of units under the Private Placement shall now include the sale of units,
Series B Convertible Preferred Shares, or a combination of both.
2. All remaining terms and conditions of the Stock Redemption Agreement
shall remain in full force and effect.
This First Amendment has been executed and delivered on behalf of
Meritage and the Xxxxx'x to be effective on the date set forth below.
MERITAGE HOSPITALITY GROUP INC.
_________________________________
Xxxxx X. Xxxxxxxx, Vice President
12-19-03
_________________________________ _______________________________
Xxxxxx X. Xxxxx Xxxxx X. Xxxxx
12-19-03 12-19-03
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