EXHIBIT 10.15
April 26, 2001
PERSONAL AND CONFIDENTIAL
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Via Facsimile
Xx. Xxxxxxxx Xxxx
President
Xxxxxx Electronics, Inc.
000 Xxxxx Xxxxxx
Xxxxxxxxx, XX 00000
Re: Addendum to MESA Agreement
Dear Franklin:
Please accept this letter as an addendum to the Agreement signed between MESA
Partners, Inc. ("MESA") and Xxxxxx Electronics, Inc. ("Xxxxxx") on March 20,
2001 ("Agreement").
Whereas, it is understood that MESA as defined in the Agreement, is entitled to
receive equity for its services related to the Transaction. Due to certain
circumstances of the business, the parties wish to amend the Agreement with
specific regard to Sections 3(b) of the Agreement.
Therefore, in consideration of the aforementioned, it is understood and agreed
that;
SECTION 3(B)
Fees and Equity
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1. In consideration for MESA's role with the business, Xxxxxx will xxxxx XXXX
as of the date of the Addendum, a warrant to purchase 15,000 common shares
of Xxxxxx Electronics, Inc. ("Warrant") priced at $3.00 per share.
2. The Warrant granted to MESA by Xxxxxx will be fully vested as of the date
of the Addendum.
3. The term of the Warrant will be for 3 years and said option will survive
cancellation of the Agreement by either party.
Furthermore, it is agreed that all other terms of the Agreement will be upheld
and remain in full effect. Please confirm that the foregoing is in accordance
with your understanding and agreement with MESA by signing and returning to us a
copy of this letter, whether by facsimile or otherwise, which shall become a
binding Addendum to the Agreement upon our receipt.
AGREED AND ACCEPTED BY,
MESA PARTNERS, INC. XXXXXX ELECTRONICS, INC.
BY:/s/ Xxxxxxx Xxxxxxx By: /s/ Xxxxxxxx Xxxx
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Xxxxxxx Xxxxxxx Xxxxxxxx Xxxx
Managing Director President
