AMENDMENT NO. 1 TO THE
TECHNOLOGY LICENSE AGREEMENT
This AMENDMENT NO. 1 TO THE TECHNOLOGY LICENSE AGREEMENT (the "AGREEMENT")
is entered into as of this 1st day of February, 2000, between Krida Overseas
Investments Trading Limited, a Cyprus company ("KRIDA"), and NuPro Innovations
Inc., a Delaware corporation ("NII").
RECITALS
WHEREAS, Krida and NII entered into the Technology License Agreement as of
June 1, 1999; and
WHEREAS, Krida and NII desire to amend the Technology License Agreement.
NOW, THEREFORE, in consideration of the mutual covenants and promises
contained herein and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, Krida and NII do each hereby agree as
follows:
I. Section 1.1 is removed in its entirety and the following be inserted
in lieu thereof:
1.1 "BUSINESS PLAN" shall mean NII's Business Plan, dated
February 1999, as updated from time to time.
II. Section 2.4 is removed in its entirety and the following be inserted
in lieu thereof:
2.4 LIMITATIONS ON EXCLUSIVENESS OF LICENSE. The license granted
under this Agreement will remain EXCLUSIVE until and through December
31, 2002. After December 31, 2002, the license granted under this
Agreement will continue to remain exclusive so long as Xxxx
Xxxxxxxxxxx is an executive officer of NII.
III. Section 2.5 is removed in its entirety and the following be inserted
in lieu thereof:
2.5 EFFECT OF XXXX XXXXXXXXXXX'X DEPARTURE. If Xxxx Xxxxxxxxxxx
leaves NII after December 31, 2002 for any reason, including, but not
limited to death, or an illness or legal impairment that lasts for a
consecutive six (6) month period (a "DEPARTURE"), the license granted
under this Agreement will continue to remain exclusive if (i) NII's
aggregate annual sales volume for any complete calendar year following
Xx. Xxxxxxxxxxx'x Departure is 50% or more of the sales forecasts for
NII which shall be determined by NII's Board of Directors, and (ii)
NII's aggregate annual increase in sales is equal to or greater than
10% with respect to the previous calendar year for each successive
calendar year following December 31, 2002.
IN WITNESS WHEREOF, the parties hereto, by their respective duly authorized
officers or representatives, have each executed this Agreement on the date and
year first above written.
KRIDA OVERSEAS TRADING LIMITED, NUPRO INNOVATIONS INC.,
a Cyprus corporation a Delaware corporation
By: /s/ Xxxx Xxxxxxxxxxx By: /s/ Xxxx Xxxxxxxxxxx
--------------------------------- ---------------------------------
Name: Xxxx Xxxxxxxxxxx Name: Xxxx Xxxxxxxxxxx
Its: President Its: Treasurer