Exhibit 99.3
ADDENDUM TO
PATENT RIGHTS PURCHASE & SALE
AGREEMENT
A. PARTIES
This Addendum is dated November 7, 2006 and is to the agreement as entered
into on the 11th day of July, 2005 ("Agreement") by and between Ingen
Technologies, Inc., a Georgia corporation doing business in California ("Ingen")
and Xxxxxxx XxXxxxxxx, a resident of California ("grantor"). The Agreement is
attached hereto and incorporated herein by this reference.
B. CHANGE TO AGREEMENT
C. 3. of the Agreement reads as follows:
Payment of four percent (4%) of the gross profits of all products of Ingen
utilizing the technology embodied within the patents (if and when any such
royalties become due). Payment shall be within thirty (30) days of the close of
each calendar quarter for the life of the patents. Grantor, with 10 business
days advance written notice, may, with a qualified representative, inspect the
relevant books of Ingen to audit compliance with this subsection. Any such
inspections shall be at grantor's expense and are limited to one inspection per
calendar year (and must be at least 90 days apart).
Per this Addendum, C. 3. now reads as follows:
Payment of four percent (4%) of the gross revenues of all products of Ingen
utilizing the technology embodied within the patents (if and when any such
royalties become due). Payment shall be within thirty (30) days of the close of
each calendar quarter for the life of the patents. Grantor, with 10 business
days advance written notice, may, with a qualified representative, inspect the
relevant books of Ingen to audit compliance with this subsection. Any such
inspections shall be at grantor's expense and are limited to one inspection per
calendar year (and must be at least 90 days apart).
All other terms and conditions of the Agreement remain in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have executed (before a Notary Public)
this Addendum, consisting of one (1) page, on the date first written above.
- signed - - signed -
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Ingen Technologies, Inc. GRANTOR
By: Xxxxx X. Sand, CEO
