AMENDMENT NO. 2 TO OPTION AGREEMENT
THIS AMENDMENT NO. 2 TO OPTION AGREEMENT ("Amendment") is made and entered
into effective as of the 16th day of September, 1996, by and between ORION
FINANCIAL, LTD., a Colorado corporation ("Company"), and ______________________,
an individual ("____________"). Unless otherwise defined herein, defined terms
shall have the meaning assigned to them in that certain Option Agreement dated
as of April 27, 1993, as amended September 27, 1993, between the Company and
Xxxxxxxx ("Option").
RECITALS
A. ---------- is entitled to subscribe for, purchase and receive 400,000
fully paid and nonassessable shares of the no par value common stock (the
"Stock") of the Company pursuant to the Option.
B. The Company and ---------- desire to amend the Option as set forth
below.
AGREEMENT
NOW, THEREFORE, in consideration for --------------------- having continued
to serve as a director of the Company since the date the Option was granted and
of other good and valuable consideration, the receipt, value and sufficiency of
which are hereby acknowledged, the Company hereby agrees that the expiration
date under Section 2 of the Option shall be extended from April 27, 1998 to
September 16, 2001. Except as modified herein and except as modified by the
Amendment to Option Agreement dated September 27, 1993, the terms and conditions
of the Option are hereby ratified and confirmed.
IN WITNESS WHEREOF, the Company and ---------- have executed this Amendment
to the Option effective as of September 16, 1996.
ORION FINANCIAL, LTD.,
a Colorado corporation
By:
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Xxxx X. Xxxxxxxx, President
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