Exhibit 10.2
AMENDMENT NO. 1 to
COMMON STOCK PURCHASE AGREEMENT
THIS Amendment No. 1 (this "Amendment") dated as of June 2, 2010, is to the
COMMON STOCK PURCHASE AGREEMENT dated as of the 1st day of June 2010 (the
"Agreement") by and between Crisnic Fund SA, a Costa Rican Investment
corporation (the "Investor"), and Competitive Technologies Inc., a corporation
--------
organized and existing under the laws of the State of Delaware (the "Company").
WHEREAS, the parties desire to amend certain terms of the Agreement.
NOW, THEREFORE, the parties hereto hereby agree as follows:
1) CONFLICT. In the event there is a conflict between the terms of the
Agreement and this Amendment, the terms of this Amendment shall control any
interpretation. Unless this Amendment expressly amends or supplements the
language of the Agreement, , the Agreement shall remain in full force and
effect. Unless otherwise defined in this Amendment, terms defined in the
Agreement shall be similarly defined herein.
2) AMENDMENT TO CLOSING. Section 2.2 of the Agreement is hereby
amended to read as follows:
" 2.2 Closing
On the Transfer Day, the Company shall deliver by DWAC transfer the total
of Two Million (2,000,000) Shares of the Common Stock registered in the name of
the Investor. During the Fourteen (14) business days following the Transfer Day,
the Investor from time to time shall deliver payment for these Shares by wire
transfer on the earlier of (i) the end of such Fourteen (14) business day period
or (ii) within 24 hours of receipt of funds by Investor from the sale of such
Shares. To the extent the Company has not paid the fees, expenses, and
disbursements of the Investor in accordance with Section 10.4, the amount of
such fees, expenses, and disbursements may be deducted by the Investor (and
shall be paid to the relevant party) directly out of the proceeds of the
Purchase Price."
[the remainder of this page intentionally left blank]
IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to
Stock Purchase Agreement to be executed by the undersigned, thereunto duly
authorized, as of the date first set forth above.
COMPANY:
Competitive Technologies Inc..
By: \s\ Xxxx X. Nano
----------------
Xxxx X. Nano, President
INVESTOR:
Crisnic Fund SA
By: \s\ Xxxxxxx Xxxxxxxxx Xxxxxxx
-----------------------------
Xxxxxxx Xxxxxxxxx Xxxxxxx, Portfolio Manager
