AMENDMENT TO REGISTRATION RIGHTS AGREEMENT
AMENDMENT
TO REGISTRATION RIGHTS AGREEMENT
This
Amendment (the “Amendment”) is made and entered into effective as of August 8,
2006, between New Century Companies, Inc., a Delaware corporation (the
“Company), and Motivated Minds, LLC., an Arizona limited liability company
(“Motivated Minds”). All capitalized terms in this Amendment shall have the same
meanings as such terms have in the Registration Rights Agreement, dated as
of
February 15, 2006, between the foregoing parties (the “Agreement”).
RECITALS
WHEREAS,
the Company desires to amend the Agreement in accordance with the terms set
forth in this Amendment.
NOW
THEREFORE, in consideration of the foregoing and of the mutual promises and
conditions set forth, the parties agree as follows:
AGREEMENT
1.
The
following subparagraph 1.5 is added to Paragraph 1, “Piggyback Registration,”of
the Agreement as follows:
1.5
The
Company has filed a Piggyback Registration under this Paragraph 1, “Piggyback
Registration,” in which it has included the Registrable Securities of the
Holders. The Company shall amend such Piggyback Registration within a reasonable
period of time of its being declared effective to include an additional 45,000
restricted shares of Common Stock it issued to Motivated Minds in connection
with an extension of the Note and the Warrant Shares of Xxxxxxx Xxxxx, a
designee of Source Capital Group, Inc. The Company will use its best efforts
to
cause such amendment to become effective. If such Registration Statement cannot
be amended for any reason, the Company will file a new Registration Statement
with the Securities and Exchange Commission within a reasonable period of time
of its first Piggyback Registration being declared effective. Such new
Registration Statement will be treated as a “Piggyback Registration” for
purposes of this Agreement. The Company will use its best efforts to cause
such
new Registration Statement to become effective.
2.
This
Amendment shall become effective on the date written above.
3.
The
Agreement shall be deemed amended to the extent set forth in this Amendment.
The
Agreement, as amended by the Amendment, shall constitute one agreement. All
other terms and provisions of the Agreement shall remain in full force and
effect. If there is any inconsistency with the terms of the Agreement and the
Amendment, the terms of the Amendment shall govern over the Agreement. This
Amendment is intended to be a final expression of the parties’ agreement to
amend the Agreement and is intended to
be a
complete and exclusive statement of their agreement and understanding with
respect to such amendment.
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IN
WITNESS WHEREOF, this Amendment has been entered into as of the day and year
first above written.
NEW
CENTURY COMPANIES, INC.
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/s/ Xxxxx
Xxxxxxxx
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By:
Xxxxx Xxxxxxxx
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Its: President |
MOTIVATED
MINDS, LLC
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/s/ Xxx
Xxxxxx
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By:
Xxx Xxxxxx
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Its: President |
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