BPO Management Services 1200 - 330 Portage Ave. Winnipeg, MB R3C 0C4 Tel: 204.957.1885 Fax: 204.989-0317 www.adapsys.ca ISO 9001 Certified
Exhibit
10.23
|
0000
- 000 Xxxxxxx Xxx.
Xxxxxxxx,
XX X0X 0X0
Tel:
000.000.0000
Fax:
204.989-0317
xxx.xxxxxxx.xx
ISO
9001 Certified
|
February
28, 2007
Xxxxx
Xxxxxxxx
Xxxxx
Xxxxxxxx, Xxxxxx Xxxxxxxx and
Xxxx
Xxxxxxxx as trustees to The Xxxxxxxx Family Trust
Xxxxxx
Xxxxxxxx
c/o
Novus
Imaging Solutions Inc.
0000
Xxxxxxxxxx Xxxxxx
Xxxxxxxx,
Xxxxxxxx
X0X
0X0
Attention:
Mr. Xxxxx Xxxxxxxx
Dear
Xxx:
|
Re:
|
Stock
Purchase Agreement made September 22, 2006 between BPO Management
Services, Inc. (“BPOMS” or the “Buyer”), Novus Imaging Solutions Inc.
(“Company”) and the addressees of this letter (the “Sellers”) (the “Stock
Purchase Agreement”)
|
This
letter is in furtherance to our recent discussions regarding BPOMS’ progress in
arranging financing for certain strategic acquisitions and the payments owing
to
you under the Stock Purchase Agreement. I have outlined to you the current
status of the financing process and the anticipated closing. If you have any
further questions in this regard, please let Xxxxxxx Xxxxx, Xxx Xxxxxxx or
me
know.
Based
on
those discussions, we have agreed to extend the date for payments under the
Stock Purchase Agreement. (Capitalized terms used in this letter which are
not
defined herein will have the same meanings as in the Stock Purchase
Agreement.)
Accordingly,
this letter will confirm that the Stock Purchase Agreement will be amended
such
that the $200,000 instalment of the Cash Purchase Price and the $767,073
instalment (which includes both the $500,000 portion of the Cash Purchase Price
and the price increase of $267,073 to reflect the amount by which Current Assets
exceeded Current Liabilities as of Closing) will be paid on the earlier of
the
date of completion of the Financing and April 30, 2007. All other terms of
the
Stock Purchase Agreement will remain the same, including the provision that
interest at 9% per annum will continue to run on the $967,073 instalment from
January 1, 2007.
To
confirm your agreement with the foregoing, would you please sign and return
a
copy of this letter. Thank you for your cooperation.
Regards.
Xxxxx
Xxxxx
cc:
Xxxx
Xxxxxxxx
ACCEPTED
AND AGREED:
_____________________________________
Xxxxx
Xxxxxxxx on behalf of all Sellers
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