Exhibit 10.7
AMENDMENT TO BINDING LETTER AGREEMENT
This Amendment to the Binding Letter Agreement (dated December 21,
2005), by and between DATAWIND Net Access Corporation ("DataWind"),a Delaware
corporation, and EdgeTech Inc. ("EdgeTech"), a Florida corporation, is made as
of March 8, 2006 (the "Amendment").
For good and valuable consideration, the receipt and sufficiency of
which is acknowledged by each of the parties hereto, and intending to be legally
bound, the parties hereby agree, to amend the Binding Letter Agreement with the
replacement of the first sentence of clause 4(c)
FROM:
As to vertical markets (iv) and (v), EdgeTech shall be required to pay
an aggregate one time fee of $400,000 to DataWind payable as follows: $200,000
on March 8, 2006; $100,000 on July 10, 2006; and $100,000 on October 10, 2006.
TO:
As to vertical markets (iv) and (v), EdgeTech shall be required to pay
an aggregate one time fee of $400,000 and arrange for the delivery of 50,000
shares of the restricted common stock of Edgetech, Inc., a Delaware corporation
(the "Shares") to DataWind payable as follows: $50,000 on March 17, 2006 and the
delivery of the Shares on or promptly following such date; $150,000 on March 31,
2006; $100,000 on July 10, 2006; and $100,000 on October 10, 2006.
Except as expressly amended herein, the Binding Letter Agreement, the quantities
and deadlines set therein, shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the
date first written above.
DATAWIND NET ACCESS CORPORATION EDGETECH INC.
By: /s/ Xxxxxx Xxxx By: /s/ Xxx Xxxxxx
Name: Xxxxxx Xxxx Name: Xxx Xxxxxx
Title: CEO Title: CEO
