Amendment to Nycon Asset Purchase and Consulting Agreements Dated April 1, 2008 and March 9, 2008
Exhibit
2.10.1
Amendment
to Nycon Asset Purchase and Consulting Agreements
Dated
April 1, 2008 and March 9, 2008
A Seller,
Xxxxx Xxxxxxxxxx, has agreed to revisions to Article 3.1 of the Asset Purchase
Agreement between New Nycon, Inc. and Seller as well as the Seller Consulting
Agreement in accordance with the following new terms and
conditions.
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1.
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The
Purchase Price for Seller’s assets shall be reduced to $600,000 (“Purchase
Price”) effective June 1, 2009.
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2.
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The
Rate of Payable shall be reduced to 12.5% of the EBITDA of Buyer effective
June 1, 2009.
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3.
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The
Buyer agrees the definition of Seller, Xxxxx Xxxxxxxxxx, shall include
Seller’s heirs for estate planning for the Purchase Price and Rate of
Payable effective June 1, 2009.
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4.
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In
accordance with Exhibit A of the Asset Purchase Agreement, and upon
completion of this Amendment, Buyer shall make payments and remove or
otherwise take control of the original Core Copier and Pitney Xxxxx
machines that are located in the Rhode Island office.
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5.
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The
Consulting Agreement amount to Xxxxx Xxxxxxxxxx from New Nycon, Inc. shall
be reduced from $3,5000 per month to $1,700 per month effective June 1,
2009 and concluding on the original Consulting Agreement date of March 9,
2011, with work continuing as needed and directed by Xxxxxx Xxxxx or Xxx
Xxxxxxxxx.
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All other
terms and conditions shall remain in full force and effect for both the Asset
Purchase Agreement and the Consulting Agreement.
| Sellers: | Buyer: | |||
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/s/
Xxxxx Xxxxxxxxxx
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/s/ Xxxxx
Xxxxxxxxxx
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Xxxxx
Xxxxxxxxxx
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Xxxxx Xxxxxxxxxx | |||
| Date: 6/8/09 | Date: 6/8/09 | |||
| /s/ Xxxxxx Xxxxx | ||||
| Xxxxxx Xxxxx | ||||
| Date: 6/8/09 |
