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EXHIBIT 6.36
AMENDMENT TO STOCK OPTION GRANT AGREEMENT, DATED APRIL 15, 1997,
BY AND BETWEEN THE COMPANY AND XXXXXX XXXXXXXX
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AMENDMENT TO
STOCK OPTION GRANT AGREEMENT
THIS AMENDMENT (the "Amendment") dated as of April 15, 1997, amends
that certain Stock Option Grant Agreement (the "Option Agreement") between
Sequester Holdings, Incorporated, a Nevada corporation ("Company"), and Xxxxxx
X. Xxxxxxxx ("Optionee"), dated as of March 26, 1997. Capitalized terms that are
not otherwise defined herein have the same meanings ascribed to them in the
Option Agreement.
WHEREAS, pursuant to the Option Agreement, Company granted Optionee
an Option to purchase 1,000,000 Shares at an exercise price of $0.53; and
WHEREAS, Optionee has requested that such Option be reduced to
500,000 Shares in the best interest of the Company and in Optionee's best
interest as a stockholder and senior officer thereof;
NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants and conditions contained herein, the parties agree as follows:
1. Amendment of the Option Agreement. The number of Option Shares
shall be 500,000.
2. Release. Optionee hereby unconditionally and irrevocably releases,
discharges, waives and renounces any and all rights, benefits,
claims, actions and causes of action, counterclaims, third-party
claims, offsets, demands, affirmative defenses, debts,
controversies, contracts, promises, damages, costs, losses and
expenses of every kind, character and description whatsoever,
liquidated or unliquidated, known or unknown, whether matured or
unmatured (collectively "Claims") arising under or relating to the
number of Option Shares originally set forth in the Option
Agreement. In connection with the foregoing release, Optionee
waives and relinquishes all rights and benefits conferred by
California Civil Code Section 1542, which provides that:
"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE
CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT
THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM
MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE
DEBTOR."
3. Effectiveness. This Amendment is effective as of April 15, 1997.
4. Integration. This Amendment shall supersede all other prior
agreements, arrangements and understandings, whether oral or
written, with respect to the subject matter hereof.
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5. Confirmation of Option Agreement. Except as expressly provided in
this Amendment, the Option Agreement shall remain in full force and
effect and is hereby ratified and confirmed.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment
as of the effective date set forth above.
"Company"
SEQUESTER HOLDINGS, INCORPORATED
By ____________________________________
Title _________________________________
"Optionee"
_______________________________________
Xxxxxx X. Xxxxxxxx
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