Exhibit 10.69.1
FIRST AMENDMENT TO SECURITIES PURCHASE AGREEMENT
This First Amendment to the Securities Purchase Agreement dated as of
October 7, 2002 by and among Implant Sciences Corporation, a Massachusetts
corporation (the "Company"), and Laurus Master Fund, Ltd., a Cayman Islands
company (the "Purchaser") (the "Agreement") is made as of the 27th day of
August, 2003 . Defined terms used but not defined herein shall have the meanings
ascribed them in the Agreement. For good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties hereto hereby agree
as follows:
1. The Agreement is hereby amended by deleting Section 6.15
thereof in its entirety.
2. Except as specifically amended herein, all terms and
conditions of the Agreement shall remain in full force and
effect as originally constituted.
3. No Event of Default under the Agreement has occurred and each
of the representations of the Company contained in the
Agreement remain accurate and correct as of the date hereof,
and are hereby restated and reaffirmed.
4. This First Amendment shall take effect as a sealed instrument
under the laws of the State of New York as of the date first
written above.
IMPLANT SCIENCES CORPORATION
/s/ XXXXXXX X. XXXXXX
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Xxxxxxx X. Xxxxxx, President and CEO
LAURUS MASTER FUND, LTD.
/s/ XXXXX GRIN
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Xxxxx Grin, Partner
