Amendment #2 Cantara Agreement
Amendment #2
Xxxxxxx
Agreement
Amendment #2 to the Agreement between Cognigen Networks, Inc. (Cognigen), the Xxxxxxxx Family Trust No. 1 (AFT), and the Xxxxxxx Communications Corporation dated December 9, 2005 (Xxxxxxx Agreement).
Cognigen, the AFT and Xxxxxxx agree that the Xxxxxxx Agreement, as amended by Amendment #1 on March 14, 2006, is further amended by deleting paragraph (a) therefrom , and substituting therefor the following:
(a.) Payment of $25,000 on March 15, 2006, by wire transfer, plus the payment by wire transfer of $20,000 on each 15th day of April, May, June, July and August, 2006, and of $25,000 on the 15th day of September, 2006, for a total of payments of $150,000.
Said payments will be applied to the first annual installment of $450,000 that was to have been paid on March 15, 2006, if the balance due of $300,000 for the first annual installment is paid on or before October 15, 2006 Until the first installment totaling $450,000 is paid in full, AFT will continue to receive 100% of the monthly Xxxxxxx commissions. Once the $450,000 is paid in full, AFT will receive 70% of the monthly amount due pursuant to the Stock Agreement
Except as amended herein, the terms of the Xxxxxxx Agreement among Cognigen, the AFT and Xxxxxxx shall remain in full force and effect.
This amendment is dated May 12, 2006.
Cognigen
Networks, Inc.
By: /s/ Xxxx X. Xxxx
Xxxx X. Xxxx, Acting President
The Xxxxxxxx
Family Trust No. 1
By: /s/ Xxxxx Xxxxxx
Xxxxx Xxxxxx, Trustee
Xxxxxxx
Communications Corporation
By: /s/ Xxxxx Xxxxxx
Xxxxx Xxxxxx, President
