AMENDMENT TO TECHNOLOGY PURCHASE AGREEMENT
THIS AMENDMENT to Technology Purchase Agreement is made as of the 29th day of
October, 1998, by and between AMERICAN CARD TECHNOLOGY, INC., a Delaware
corporation ("American Card") and SOFTCHIP ISRAEL LTD., a corporation organized
under the laws of Israel ("SoftChip").
WITNESSETH:
WHEREAS, American Card and SoftChip are parties to a technology purchase
agreement dated as of March 7, 1998, as amended by Amendments, dated August 17,
1998 and October 29, 1998 (as amended the "Purchase Agreement"); and
WHEREAS, American Card will not be closing close on an initial public
offering of its securities (the "IPO") by December 15, 1998; and
WHEREAS, SoftChip is willing to extend the date by which American Card may
purchase the technology pursuant to the Purchase Agreement through March 15,
1999 or the closing of the IPO, whichever is earlier.
NOW THEREFORE, in consideration of the foregoing and the covenants
contained herein, the parties hereto agree as follows:
1. The definition of "Closing Date" in Section 1 of the Purchase Agreement is
hereby amended by deleting the reference to "December 15, 1998" and substituting
"March 15, 1999" in lieu therefor.
2. Except as amended hereby, the Purchase Agreement remains in full force and
effect and is hereby ratified and confirmed.
IN WITNESS WHEREOF, the parties hereto have set their hands and seals as of
the day and year first above written.
SIGNED, SEALED, AND DELIVERED
IN THE PRESENCE OF: AMERICAN CARD TECHNOLOGY, INC.
By: /s/ Xxxxxxx Xxxxxxx
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Its President
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SOFTCHIP ISRAEL LTD.
By: /s/ Xxxxxxx Xxxxx
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Its Authorized Signatory
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