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AMENDMENT NUMBER 1
TO
ASSET PURCHASE AGREEMENT
The parties hereto agree to amend that certain Asset Purchase
Agreement, dated as of October 30, 2000, by and among them (the "Agreement"), as
provided in this Amendment.
Subsection 4.14(b) of the Agreement is hereby amended to read as
follows:
HSNS agrees to provide to Summus, under the terms of
the Loan Agreement, an additional $235,000 on
October 30, 2000, and every two weeks thereafter
(the "INTERIM FINANCING") until the earlier of (i)
the Closing Date or (ii) March 31, 2000. A condition
to each advance of Interim Financing by HSNS is the
provision of adequate security to HSNS, in the form
of HSNS Common Stock, so that the total value of
security held by HSNS will be at least 2.5 times the
total of the Prior Loan and the amount of Interim
Financing that will have been provided after that
advance, plus any accrued interest.
Subsection 4.14(f) of the Agreement is hereby amended to read as
follows:
If the Closing does not occur by March 31, 2000, due
to termination of this Agreement or otherwise, the
Interim Financing shall be paid by cancellation of
Common Stock held as security therefor, having
Market Value equal to the debt being repaid. Any
remaining Common Stock held as security shall be
returned to Summus.
Subsection 10.11(b) of the Agreement is hereby amended to read as
follows:
either party may terminate this Agreement if the
Closing does not occur by March 31, 2000;
This Amendment may be executed in any number of counterparts, each of
which shall be deemed an original, and all of which together shall constitute
one and the same instrument.
[Signatures appear on the following page]
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IN WITNESS WHEREOF, the parties have executed this Amendment as of
December 30, 2000.
HIGH SPEED NET SOLUTIONS, INC. SUMMUS, LTD.
By: /s/ Xxxxxx Xxx By: /s/ Xxxxx Xxxxxxx
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Xxxxxx Xxx, President Xxxxx Xxxxxxx, President
Address: 000 Xxxxxxxxxxxx Xxxxxx Xxxx Address: 000 Xxxxxxxxxxxx Xxxxxx Mall
Suite 2120 Suite 600
Raleigh, North Carolina 27601 Xxxxxxx, Xxxxx Xxxxxxxx 00000
Facsimile No: (000) 000-0000 Facsimile No: (000) 000-0000
STOCKHOLDER:
/s/ Xxxxx Xxxxxxx
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Name: Xxxxx Xxxxxxx
Address: 000 Xxxxxxxxxxxx Xxxxxx Xxxx
Xxxxx 000
Xxxxxxx, Xxxxx Xxxxxxxx 00000
Facsimile No.: (000) 000-0000
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