[EXHIBIT 10.3(b)]
[SECOND AMENDMENT TO STOCK PURCHASE AGREEMENT, ITOLUR]
MODIFICATION OF THE PROMISE OF SALE OF SHARES.
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In the city of Montevideo, this November 6th, 2002, there appear Xx. Xxxxxxxx
Xxxxx XXXXXXX BUZIO, Uruguayan, of legal age, holder of I.D. Card number
1.392.921-1, married in first and only marriage with Xxxxxxxx Xxxxx, and Mr.
Carlo& - Xxxxxx GURMENDEZ XXXXXXX, Uruguayan, of legal age, holder of I.D. Card
number 1.367.445-8, married in first and only marriage with Xxxxxxx Xxxxxxxxx,
establishing their domicile for these proceedings at 000 Xxxxxxxx Xxxxxx, xxxxx
000 of this city, as party of the first part, and ITOLUR SOCIEDAD ANONIMA, an
authorized legal entity, registered with the Tax Payers- Sole Register under
number 00.000.000.0000, domiciled at 0000 Xxxxxx Xxxxxxxx Xxxxxx, xxxxx 000, and
establishing, domicile for these proceedings at 000 Xxxxxxx Xxxxxx, Xxxxx 000,
both domiciles of this city, being represented in these proceeding by a special
attorney Xx. Xxxxxxxxx Xxxxxx Xxxxxx, holder of I.D. Card number 3.380.927-5, as
party of the second part, and they agree to the following provisions:
FIRST: On August 22nd, 2002, the appearers promised to execute an agreement of
sell of shares of the company DONIMAR SOCIEDAD ANONIMA- On said document, the
parties agreed that the term of payment of the agreed price should be 25 days
counting as from that date.- On October 1st, 2002, the parties made a
modification to said promise establishing new conditions to the payment of the
price.
SECOND: The parties agree to modify said promise, the modification being the
following:
a) the price of the contract to sell is the amount of nine thousand five-
hundred American dollars (US$9.500) which shall by paid by the
purchasing party in cash, and in one installment simultaneously to the
delivery of the definite documentation, and under the conditions
established in said promise;
b) The contract of sell shall be executed within a term of 70 days
reckoning as from this date.
THIRD: ITOLUR S.A. has already paid to the selling party the amount of US$25.000
corresponding to the first three checks bound to cover in the thirteenth
provision of said promise, for which the selling party deliver receipt to Itolur
S.A up to the indicated amount. The other amount of US$10.000 shall be paid by
Itolur S.A to the selling party in some of the ways established in said
thirteenth provision.
In certification and confirmation of the above we execute and sing these
presents in three copies of the same tenor.
/There appear four illegible signatures/
/Seal:/
Xxxxxxxx Xxxxxxxxx Rebuffo.
Notary Public.
The undersigned Public Translator declares the foregoing - the copy of which is
registered in her private file under No. 21/2002 - to be a faithful and complete
translation into English of the original document (MODIFICATION OF THE PROMISE
OF SALE OF SHARES), written in Spanish, attached /h&re-to.
Montevideo,
November 7th, 2002.
/s/ Xxxxxxx Xxxxxxx,
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Public Translator
