EXHIBIT 10.3
Prestige Capital Corporation
AMENDMENT AGREEMENT
Whereas:
Pursuant to a Purchase and Sale Agreement accepted on May 12. 2006, (the
"Agreement"), Prestige Capital Corporation ("Prestige") has been factoring the
accounts receivable of SLS International, Inc. ("SLS");
The parties desire to continue their relationship upon modified terms;
Now it is hereby agreed by and between the undersigned parties as follows:
1. Notwithstanding anything to the contrary contained in paragraph 3 of
the Agreement, all funds received by Prestige from accounts not
factored shall be wired to either SLS or its assigns (less any fees
set forth below) within seventy-two (72) hours of receipt by
Prestige, provided there are no outstanding chargebacks or disputes.
2. Seller shall pay Prestige an administrative fee equal to Three
Quarters of One Percent (.75%) for all collections on non-factored
accounts receivable.
3. In all other respects, the Agreement shall remain unchanged and in
full force and effect.
4. Notwithstanding anything to the contrary set forth above, this
amendment shall become null and void in the event the loan agreement
between SLS and Capital Growth Asset Based Bridge Loan Fund II, LLC
is not consummated.
Dated: This 11th day of August, 2006
SLS INTERNATIONAL, INC.
By: /s/ XXXX X. XXXX
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XXXX X. XXXX
CEO
PRESTIGE CAPITAL CORPORATION
By: /s/ XXXXXX X. XXXXXXXX
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XXXXXX X. XXXXXXXX
President/CEO
