MODIFICATION AGREEMENTModification Agreement • August 17th, 2007 • Sequiam Corp • Services-computer integrated systems design
The undersigned hereby agree to delete the requirement for bank account control agreements set forth in Section 5(a) of that certain Agreement (the “Agreement”) dated as of the 30th day of March, 2007 between SEQUIAM CORPORATION, a California corporation and BIOMETRICS INVESTORS, L.L.C., a Delaware limited liability company. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Agreement. Except for the foregoing extension, nothing herein shall be deemed to waive, amend or modify any provision of the Agreement.
Biometrics Investors, L.L.C.Sequiam Corp • August 17th, 2007 • Services-computer integrated systems design
In consideration of the consummation of the transactions contemplated in that certain Membership Interest Purchase Agreement (the “Purchase Agreement”) dated on or about August 15, 2007 by and among Nicholas VandenBrekel (“VandenBrekel”) and the members of Biometrics, and the transactions entered into in connection with the Purchase Agreement, effective as of the date hereof Biometrics hereby waives the Event of Default arising from the payment by Sequiam in May of 2007 of approximately $250,000 in satisfaction of amounts owed to VandenBrekel, which payment was made in violation of that certain Subordination Agreement dated March 30, 2007, by and among Mark Mroczkowski, VandenBrekel and Biometrics (the “ExistingDefault”).
MODIFICATION OF AGREEMENTModification of Agreement • August 17th, 2007 • Sequiam Corp • Services-computer integrated systems design
This Modification of Agreement (this “Agreement”) is made as of this 15th day of August, 2007 by and between Biometrics Investors, L.L.C., a Delaware limited liability company (“Lender”), and Sequiam Corporation, a California corporation (“Borrower”).
