ADDENDUM
THIS ADDENDUM (this
“Addendum”) is being entered into for the purposes of serving as additional
conditions to that certain Stock Purchase Agreement dated July 23, 2009, (the
“SPA”) entered into by and between Management Energy, Inc., a Nevada corporation
(the “Company”) and Lotus Asset Management, LLC, a California limited liability
company (the “Purchaser”).
WHEREAS, the parties entered
into the SPA on July 23, 2009, which provided for the purchase by the Purchaser
of 400,000 shares of the Company’s common stock, par value $0.001 per share (the
“Shares”), at a price equal to $1.00 per share (the “Stock Purchase”);
and
WHEREAS, the parties now wish
to add certain conditions to the Stock Purchase as set forth below.
NOW THEREFORE the parties
hereby agree as follows:
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1.
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This
Addendum shall in no way alter, amend or change the meaning of the SPA,
except as explicitly set forth
herein.
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2.
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The
Company hereby expressly agrees and covenants that it shall not expend any
portion of the proceeds of the Stock Purchase without the Purchaser’s
prior written consent.
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In Witness
Whereof, the parties have executed this Stock
Purchase Agreement as of the date first
written above.
| Management Energy, Inc. | Lotus Asset Management, LLC | ||||
| By: |
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By: | |||
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Name:
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Name:
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Title:
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Title:
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