EXHIBIT 10.40
FORM OF FIRST AMENDMENT TO STOCK PURCHASE
AGREEMENT BETWEEN THE COMPANY AND THE SELLING
SECURITY HOLDERS IDENTIFIED ON THE ATTACHED
SCHEDULE "A"
FIRST AMENDMENT TO
STOCK PURCHASE AGREEMENT
This First Amendment to Stock Purchase Agreement amends that certain Stock
Purchase Agreement dated October 27, 1997 (the "Agreement") by and between
ONTRO, INC. ("Ontro") and XXXXX X. XXXXXX ("Xxxxxx") (collectively, the
"Parties") is made effective this 31st day of January, 1998.
For good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the Parties wish to amend the Agreement as follows:
1. The date of February 28, 1998 in Paragraph 3 of the Agreement is hereby
amended May 1, 1998 so that Paragraph 3 of the Agreement will read in its
entirety as follows:
3. ADJUSTMENT TO SHARES. In the event the registration statement,
including the shares purchased herein, is not delivered effective May
1, 1998, Ontro agrees to issue additional shares to the Buyer herein
at no cost in the amount sufficient to result in the total price paid
by the Buyer herein, to equal $3.13 per share.
2. All remaining terms of the Agreement remain in full force and effect.
ONTRO, INC.
a California corporation
By:
---------------------------
Xxxxx X. Xxxxxxx, President
--------------------------------
XXXXX X. XXXXXX
SCHEDULE "A"
Xxxxx X. Xxxxxx
Xxxxxxxxx Xxxxxxx
Xxxxx Xxxx