EX-2.2
Amendement between Tampa Bay Financial and "TBF"
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AMENDMENT
THIS AMENDMENT is made and entered into this 6th day of October, 2000, by
and between Tampa Bay Financial, Inc., a Florida corporation, and Affiliated
Investors ("TBF"), and American Communications Enterprises, Inc., a Nevada
corporation (the "Company"), its subsidiaries and certain Shareholders of the
Company.
W I T N E S S E T H:
- - - - - - - - - -
WHEREAS, the parties have executed a document dated September 22, 2000
titled "Letter of Intent" (the "Agreement"); and
WHEREAS, TBF represents a group of investors desiring to acquire stock
of the Company; and
WHEREAS, the parties desire to amend the Agreement in certain respects.
NOW, THEREFORE, the parties hereto agree as follows:
1. Notwithstanding any provision of the Agreement to the contrary, the parties
agree that the terms and provisions of the Agreement (as amended hereby) are
binding in their entirety.
2. The parties agree that the closing of the transactions contemplated by the
Agreement will occur on October 12, 2000. At such time, the Shareholders shall
deliver the shares of common stock of the Company required by the Agreement to
the escrow agent under the Escrow Agreement dated September 22, 2000. TBF will
deliver the sum of $500,000 in immediately available funds to the escrow agent
at the times set forth in Section 3 hereof.
3. TBF shall deliver funds to the escrow agent, who shall (i) release funds from
the escrow to the Shareholders and (ii) release shares of stock from the escrow
to TBF, as follows:
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Date Shares Funds
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Closing 4,362,500 $125,000
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October 20, 4,362,500 $125,000
2000
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October 27, 4,362,500 $125,000
2000
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November 3, 4,362,500 $125,000
2000
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4. Except as explicitly modified herein, the Agreement shall remain in
full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the day
and date first above written.
Tampa Bay Financial, Inc.
By:____________________________
American Communications
Enterprises, Inc.
By:____________________________
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