AMENDMENT TO THE SETTLEMENT AGREEMENT AND RELEASE
Exhibit
10.2
AMENDMENT TO THE SETTLEMENT
AGREEMENT AND RELEASE
THIS
AMENDMENT TO THE SETTLEMENT AGREEMENT AND RELEASE ("Agreement"), dated as of
August 19, 2008, is by and among Material Technologies, Inc., a Delaware
corporation ("MaTech") and Kreuzfeld Ltd., ("Kreuzfeld") (Kreuzfeld shall be
referred to as, the "Claimant") (individually, a "Party").
RECITALS
NOW THEREFORE, in
consideration of the promises and respective mutual agreements herein contained,
it is agreed by and between the Parties hereto as follows:
1.8 MaTech
hereby agrees to issue to Kreuzfeld warrants to purchase 5,000,000 shares of
MaTech common stock at $0.20 per share (together with the Kreuzfeld warrants,
the "Warrants");
IN WITNESS WHEREOF, the
Parties hereto have executed this Agreement, as of the date first written
hereinabove.
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MATERIAL
TECHNOLOGIES, INC.,
a
Delaware corporation
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KREUZFELD
LTD.,
a
Swiss corporation
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/s/
Xxxxxx Xxxxxxx
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By:
Xxxxxx X. Xxxxxxxxx
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By:
Xxxxxx Xxxxxxx Its: Sole Officer
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Its:
Chief Executive Officer
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Its:
Sole Officer
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[AMENDMENT
TO SETTLEMENT AGREEMENT AND RELEASE SIGNATURE PACE]
