AMENDMENT
AMENDMENT
Reference
is made to the Subscription Agreement dated September 17, 2008 between GlobeTel
Communications Corp. and Global Telesat Corp., such agreement being referred to
herein as the “Agreement”.
All
capitalized terms which are used but not defined herein shall have the meanings
ascribed to them in the Agreement.
For good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged by Sanswire Corp. (formerly known as GlobeTel Communications
Corp.), the Agreement is hereby amended as follows:
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1.
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References
to the dates in Sections 1(a)(i) and (ii) of the Agreement are hereby
changed to December 31, 2010.
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2.
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The
Expiration Date of the Class A and Class B Warrants is hereby changed to
December 31, 2010. If necessary, the Company shall exchange the
current Class A and Class B Warrants held by GTC for replacement Class A
and Class B Warrants reflecting the modified Expiration Date
thereof.
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Except as
set forth herein, none of the other terms or provisions of the Agreement (or the
Class A or Class B Warrants) are amended hereby and the Agreement (and the Class
A or Class B Warrants) shall remain in full force and effect in accordance with
their terms. To the extent there is any inconsistency between the
terms of the Agreement (or the Class A or Class B Warrants) and the terms of
this Amendment, the terms of this Amendment shall govern and
control.
IN WITNESS WHEREOF, the parties hereto
have hereunto set their hands and seals to this Amendment this ___ day of April,
2009.
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(Formerly
GlobeTel Communications Corp.)
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By:
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Xxxxxxxx
Xxxxxxxx, President
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GLOBAL
TELESAT CORP.
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By:
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Xxxxx
Xxxxxx, President and
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Chief
Executive Officer
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