0001193125-07-025459 Sample Contracts

SECOND AMENDMENT TO WARRANT AGREEMENT
Warrant Agreement • February 9th, 2007 • Action Products International Inc • Games, toys & children's vehicles (no dolls & bicycles)

THIS SECOND AMENDMENT TO THE WARRANT AGREEMENT, dated January 31, 2007, (the “Second Amendment”) hereby amends the Warrant Agreement dated June 16, 2006, as amended by the First Amendment dated July 31, 2006, (the “Agreement”) by and between ACTION PRODUCTS INTERNATIONAL, INC., a Florida corporation (the “Company”), and REGISTRAR AND TRANSFER COMPANY, as Warrant Agent (the “Warrant Agent”) as follows:

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