Exhibit 10.27a.
No. 1
ADDENDUM TO INVESTMENT BANKING AGREEMENT
This Addendum to the June 17th Investment Banking Agreement by and between Delta
Mutual, Inc. and T & T Vermogensverwaltungs AG, is effective this 3rd day of
August, 2005 and modifies as follows:
Paragraph
(1) The First Tranche shall take the form of a private placement of
$1,500,000, to be completed by August 31, 2005. All other conditions
as per item No. 1 remain as per the June 17, 2005 Agreement.
"COMPENSATION" paragraph is replaced in its entirely as follows:
Delta agrees to compensate T&T as described in this paragraph but
only if investors who are introduced by T&T actually provide
funding to Delta. In such event, Delta agrees to pay or cause to
be paid a cash fee equal to up to twenty percent (20%) of the cash
proceeds received by Delta on the next $820,000, plus one million,
four hundred and thirty thousand shares (1,430,000) of restricted
common stock. The foregoing sentence not withstanding, T&T, at its
sole option, may deduct any cash compensation due to it under this
section of the Agreement from the gross proceeds due to Delta from
the placement of private equity in accordance with this Agreement.
Subsequent to receipt of the next $820,000, the cash fee will
reduce to 12% on all future funding and no restricted common
shares.
The foregoing paragraph notwithstanding, Delta is under no
obligation to accept any offer for investment brought to Delta by
T&T and T&T acknowledges that it cannot control any decisions made
by Delta, including the decision by Delta (at its sole discretion)
to refuse any investors or investment proposals provided by T&T
under this Agreement.
T&T Vermogensverwaltungs, AG (T&T) Delta Mutual, Inc.
/s/ Ivano Angelastri /s/ Xxxxx Xxxxx
By: ________________________ By: _________________________
Ivano Angelastri Xxxxx X. Xxxxx
President President & CEO
