SUPPLEMENTAL AGREEMENT
This Supplemental Agreement is entered into this 28th day of September, 2005 by and between iBroadband, Inc. (“Issuer”), a Nevada corporation, and iBroadband of Texas, Inc. (“Private Company”), a Delaware corporation.
WHEREAS, the parties hereto have previously entered into an Agreement for the Exchange of Common Stock dated September 6, 2005 (the “Agreement”); and
WHEREAS, shareholders representing more than 90% but less than 100% of the outstanding shares of the Private Company’s common stock have yet to date executed written consents to the Agreement (each such non-agreeing shareholder hereafter referred to as “Non-agreeing Shareholder”); and
WHEREAS, all other terms and conditions required of the Agreement have been fulfilled by the parties; and
WHEREAS, the parties desire and agree to close the said Agreement as set forth therein and as modified by this Supplemental Agreement.
NOW THEREFORE, the parties agree as follows:
1. The parties shall close the Agreement and transactions therein contemplated on September 29, 2005.
2. The Issuer shall, at and subsequent to closing, reserve for issuance to each Non-agreeing Shareholder that number of the Issuer’s shares as is set forth opposite each such shareholder’s name on Exhibit A to the Agreement; provided however, that each Non-agreeing Shareholder must hereafter execute and deliver a written consent to the Agreement accompanied by the surrender of the appropriate Private Company stock certificate as is provided by the terms and conditions of the Agreement.
AGREED:
AGREED:
Issuer:
Private Company
By, /s/ Xxxxx Xxxxx, President
By, /s/ Xxxxxxx Poll, Chief Operating Officer
Name and Title Name and Title
