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EXHIBIT 10.16
ADDENDUM TO
ASSET PURCHASE AGREEMENT
THIS ADDENDUM, is made and entered into as of April 27, 2000, by and
between Xxxxxxxx Investment Company, Inc., f/k/a DHR International, Inc.
(hereinafter referred to as "Seller") and ProfitSource Corporation (hereinafter
referred to as "Buyer").
WHEREAS, the parties entered into an Asset Purchase Agreement dated
November 19, 1998; and
WHEREAS, a dispute has arisen regarding the interpretation of Section
4.19 of the Agreement; and
WHEREAS, the parties wish to resolve the dispute.
NOW, THEREFORE, IT IS AGREED AS FOLLOWS:
Section 4.19 of the Asset Purchase Agreement shall be revised
to read as follows:
ADDITIONAL PURCHASE PRICE. If Buyer does not close the IPO of
its equity securities by June 30, 1999, Buyer will agree to
pay the Seller an additional purchase price based on the
performance of the Buyer since date of acquisition. Amounts
payable under, and other terms of, any such plan will be
subject to restrictions imposed by Buyer's lenders, Buyer's
capital investment requirements and preservation of adequate
working capital.
In all other respects, the terms and conditions of the Asset Purchase
Agreement dated November 19, 1998 are hereby reaffirmed.
XXXXXXXX INVESTMENT
COMPANY, INC. EPS SOLUTIONS CORPORATION
(F/K/A DHR INTERNATIONAL, INC.) (F/K/A PROFITSOURCE CORPORATION)
By: /s/ Xxxxx X. Xxxxxxxx By: /s/ Xxxxxxx X. Xxxxxxxxx
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Xxxxx X. Xxxxxxxx Xxxxxxx X. Xxxxxxxxx