AMENDMENT TO AGREEMENT
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The Agreement dated as of February 1, 1997 between Mr. Xxxxx Xxxxx (the
"Advisor") and Packaging Plus Services, Inc. (the "Company"), as amended on
March 14, 1997, April 24, 1997 and August 27, 1997, is hereby further amended as
follows:
Paragraph 2 of the Agreement, is amended to read:
"2. Except as otherwise specified herein, this Agreement shall be
effective for five years from the date hereof, until it is terminated
by either party upon thirty (30) days written notice received by either
the Advisor or the Company."
Paragraph 4(b) of the Agreement, is amended, in part, to read:
"4. In consideration for the services rendered by the Advisor to
the Company pursuant to this Agreement, the Company shall
compensate the Advisor as follows:
"(b) The Company grants to the Advisor common shares of the Company
at the rate of 60,000 shares per month, for the thirty seventh
through the sixtieth month of the term of this Agreement, or a
total of 1,440,000 shares for the twenty four additional
months of the extended term hereof. The total amount of these
Shares may be transferred to the Advisor, in advance at any
time, in whole or in part."
All other terms and conditions of the Agreement continue in effect.
Dated: January 23, 1998
/s/ Xxxxx Xxxxx
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Xxxxx Xxxxx
PACKAGING PLUS SERVICES, INC.
By: /s/ Xxxxxxx X. Xxxxxxxx
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Xxxxxxx X. Xxxxxxxx
President and CEO
