ADDENDUM TO EXCHANGE AGREEMENT
Exhibit 10.2
ADDENDUM TO EXCHANGE AGREEMENT
This ADDENDUM dated September 7, 2011, to EXCHANGE AGREEMENT dated September 6, 2011 (the “Agreement”) by and among OICco Acquisition I Inc., a Delaware corporation (“OICco” or “Pubco”) and Xxxxxx X. Xxxx, (the “Shareholder”) OICco’s controlling shareholder and Liberty Electric, a United Kingdom corporation (“Liberty” or “the Company”).
WHEREAS:
The parties have agreed to add the additional term to the Agreement.
ADDITION OF SECTION 5.03 (j)
The parties agree to add to the Agreement Section 5.03 (j) which reads as follows:
(j) Appointed Board Members. OICco shall amend their Corporate Bylaws following the execution of this agreement appointing Xxx X. Xxxxxx, Xxxxxx Xxxx, Xxxxx Xxxxxx and Xxxxx Xxxxxxxx-Xxxxxx as four (4) of the seven (7) total members of OICco’s Board of Directors.
IN WITNESS WHEREOF, the undersigned have caused their duly authorized officers to execute this Addendum as of the date first above written.
/s/ Xxxxxx X. Xxxx
Xxxxxx X. Xxxx
President and Chief Executive Officer
/s/ Xxxxxx X. Xxxx
Xxxxxx X. Xxxx
Controlling Shareholder
LEC Electric Cars, Ltd.
/s/ Xxx X. Xxxxxx
Xxx X. Xxxxxx
Managing Director
