1
EXHIBIT 4(y)
ADDENDUM TO OPTION AGREEMENT
DATED AS OF JULY 8, 1996
BETWEEN
UNIVERSAL MEDICAL SYSTEMS, INC. ("COMPANY")
(A NEVADA CORPORATION)
AND
XXXXXXXX X. XXXX, ATTORNEY AT LAW ("HOLDER")
The above referenced Option Agreement ("Agreement") is hereby amended by
the addition of the following:
Holder shall earn the options granted pursuant to the Agreement by
performing services to and for the Company's benefit, including services
performed prior to July 8, 1996, based upon the following formula:
Multiply each of the Holder's monthly statements for services
rendered during the month covered by each such statement by the
percentage of each such monthly fees to be paid by the grant of
options under the Agreement (not to exceed 75.0% of such monthly
fees). Divide the results obtained by fifty percent (50.0%) of the
average closing bid price of the Company's common stock on the last
ten (10) trading days of the month in which the fees were earned and
multiply the results by three (3).
IN WITNESS WHEREOF, the parties have executed this instrument as of July
8, 1996.
Universal Medical System, Inc.,
a Nevada Corporation
/s/ Xxxxxxxx X. Xxxxxx By: /s/ Xxxxx X. Xxxxx
------------------------------- ----------------------------------
Witness Xxxxx X. Xxxxx, CEO and President
/s/ Xxxxxxxx X. Xxxxxx Attest: /s/ Xxxxxx X. Xxxx
------------------------------- ------------------------------
Witness Printed Name Xxxxxx X. Xxxx, as Secretary
and General Counsel
/s/ Xxxxxxx X. Szywkiewicz
-------------------------------
Witness
/s/ XXXXXXX X. SZYWKIEWICZ
-------------------------------
Witness Printed Name
2
/s/ Xxxxxxxx X. Xxxxxx
-------------------------------
Witness
/s/ Xxxxxxxx X. Xxxxxx /s/ Xxxxxx X. Xxxx
------------------------------- ---------------------------------
Witness Printed Name Xxxxxx X. Xxxx, as Secretary and
General Counsel
(CORPORATE SEAL)
/s/ Xxxxxxx X. Szywkiewicz
-------------------------------
Witness
/s/ XXXXXXX X. SZYWKIEWICZ
-------------------------------
Witness Printed Name
/s/ Xxxxxxx Xxxxxxx /s/ Xxxxxxxx X. Xxxx
------------------------------- ---------------------------------
Witness Xxxxxxxx X. Xxxx
/s/ XXXXXXX XXXXXXX
-------------------------------
Witness Printed Name
/s/ Xxxxxxx Xxxx
-------------------------------
Witness
/s/ Xxxxxxx Xxxx
-------------------------------
Witness Printed Name
