FIRST AMENDMENT TO STOCK SALE AND PURCHASE AGREEMENT
This First Amendment (the "First Amendment") to that certain STOCK SALE AND
PURCHASE AGREEMENT (the "Agreement") dated June _____, 2010 (the "Execution
Date") by and between (a) (i) Xxxxxxx X. Xxxxxx, Xxxxxxx X. Xxxxxxxx and Xxxxx
X. Xxxxxx (each of the foregoing persons is referred to hereinafter as a
"Seller" and collectively as the "Sellers"), each of whom is a shareholder of
Twin Air Calypso Limited, Inc. (the "Company"), a Florida corporation, on the
one hand, and (b) AvStar Aviation Group, Inc., a Colorado corporation
("Purchaser"), on the other hand. All capitalized, undefined terms used herein
shall have the respective meanings given to such terms in the Agreement.
RECITALS
WHEREAS, the Agreement was entered on or about the Execution Date; and
WHEREAS, each of the Sellers and Purchaser desire to amend the Agreement
upon the terms, provisions and conditions set forth hereinafter;
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants and agreements of
the Company and Austin to amend the Agreement, the Company and Austin agree as
follows:
1. AMENDMENT TO THE AGREEMENT. The Section 4.3 of the Agreement is
hereby amended so that "Latest Closing Date" shall mean August 31, 2010 for all
purposes related to the Agreement.
2. MISCELLANEOUS. Except as otherwise expressly provided herein, the
Agreement is not amended, modified or affected by this First Amendment. Except
as expressly set forth herein, all of the terms, conditions, covenants,
representations, warranties and all other provisions of the Agreement are herein
ratified and confirmed and shall remain in full force and effect. On and after
the date on which this First Amendment becomes effective, the terms,
"Agreement," "hereof," "herein," "hereunder" and terms of like import, when used
herein or in the Agreement shall, except where the context otherwise requires,
refer to the Agreement, as amended by this First Amendment. This First
Amendment may be executed into one or more counterparts, and it shall not be
necessary that the signatures of all parties hereto be contained on any one
counterpart hereof; each counterpart shall be deemed an original, but all of
which together shall constitute one and the same instrument.
[SIGNATURES FOLLOW ON NEXT PAGE]
IN WITNESS WHEREOF, this First Amendment to the Agreement is adopted effective
as of the 14th day of July, 2010.
"SELLERS"
___________________________________ ___________________________________
Xxxxxxx X. Xxxxxx Xxxxxxx X. Xxxxxxxx
____________________________________
Xxxxx X. Xxxxxx
"PURCHASER"
AVSTAR AVIATION GROUP, INC.,
a Colorado corporation
By:_________________________________
Name:______________________________
Its:_________________________________
________________________