AMENDMENT NO. 1 TO ESCROW AGREEMENT
Exhibit
10.2
AMENDMENT
NO. 1
TO
This
AMENDMENT NO. 1 TO ESCROW AGREEMENT (this "Amendment") is entered into as of
December 15, 2009 by and among SMSA El Paso II Acquisition Corp, Inc., a Nevada
corporation (the “Company”), Xxxxxxx Xxxxxxxx, an individual residing in Tustin,
California (the “Escrowing Party”), Halter Financial Group, L.P., a Texas
limited partnership (“HFG”), and Securities Transfer Corporation, with its
principal offices located at 0000 Xxxxxx Xxxxxxx, Xxxxx 000, Xxxxxx, XX 00000
(the “Escrow Agent”).
WHEREAS,
the Company, the Escrowing Party, HFG and the Escrow Agent entered into that
certain Escrow Agreement, dated as of November 5, 2009 (the "Escrow
Agreement");
WHEREAS,
pursuant to Section 10.2 of the Escrow Agreement, the Company, the Escrowing
Party, HFG and the Escrow Agent desire to amend the Escrow Agreement to extend
the Payment Date from December 15, 2009 until January 31, 2010;
1. Definitions.
Capitalized terms used but not defined in this Amendment shall have the
respective meanings ascribed to them in the Escrow Agreement.
2. Amendment to Escrow
Agreement. The second recital of the Escrow Agreement is
hereby deleted in its entirety and replaced with the following:
3. Full Force and
Effect. Except as expressly modified by this Amendment, all of the terms,
covenants, agreements, conditions and other provisions of the Escrow Agreement
shall remain in full force and effect in accordance with their respective terms.
As used in the Escrow Agreement, the terms "this Agreement", herein,
hereinafter, hereunder, hereto and words of similar import shall mean and refer
to, from and after the date hereof, unless the context otherwise requires, the
Escrow Agreement as amended by this Amendment.
4. Counterparts. This
Amendment may be executed in a number of counterparts, by facsimile, each of
which shall be deemed to be an original as of those whose signature appears
thereon, and all of which shall together constitute one and the same
instrument. This Amendment shall become binding when one or more of
the counterparts hereof, individually or taken together, are signed by all the
parties.
ESCROW
AGENT:
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Securities
Transfer Corporation
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By:
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/s/ Xxxxx X. Xxxxxx Xx.
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Xxxxx
X. Xxxxxx Xx., President
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HFG:
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Halter
Financial Group, L.P.
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By:
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/s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx
X. Xxxxxx, Chairman
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COMPANY:
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By:
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/s/ Xxxxxxx Xxxxxxxx
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Xxxxxxx
Xxxxxxxx, President
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ESCROWING
PARTY:
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By:
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/s/ Xxxxxxx Xxxxxxxx
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Xxxxxxx
Xxxxxxxx
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