Exhibit 10.1
ADDENDUM 1
to the Region Agreement dated December 20th, 2005
by and between XXXXXXXX & ASSOCIATES LTD. and MIDNET, INC.
This Addendum (the "Addendum") is made as of March 25, 2006 (the "Effective
Date") by and between Xxxxxxxx & Associates Ltd., a British Columbia corporation
("Xxxxxxxx"), and MidNet (Canada) Inc., a British Columbia corporation
("MidNet").
RECITALS
A. On December 20th 2005 Xxxxxxxx and MidNet entered into a Region
Agreement for India (the "Agreement").
B. Due to unforeseen delays related to the delivery of xPort servers by
MidNet the parties wish to extend the terms defined in section 5.3 of the
Agreement.
C. Section 5.3 of the Agreement is to be replaced by section 1 of this
Addendum.
Accordingly, the parties agree as follows:
AGREEMENT
1. TERMINATION FOR NON-PAYMENT
The Agreement will terminate on August 31, 2006, in the event that:
(a) full payment has not been received by MidNet for the region; or
(b) an Assignment has not been made to an acceptable third party.
THE REMAINDER OF THIS PAGE LEFT INTENTIONALLY BLANK
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by
their duly authorized representatives:
XXXXXXXX & ASSOCIATES LTD. MIDNET (CANADA), INC.
Per: /s/ Xxx Xxxxxxxx Per: /s/ Xxxx Xxxx
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Authorized Signatory Authorized Signatory
Xxx Xxxxxxxx Xxxx Xxxx
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Title: president / CEO Title: president / CEO
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