EXHIBIT 10.50
AMENDMENT NO. 1
TO PURCHASE AGREEMENT
This Amendment No. 1 (the "Amendment") entered into on this day of
July, 2004, amends the Purchase Agreement (the "Agreement") dated July 1, 2004,
entered into by and among BRIGHTSTAR CORP., a Delaware corporation
("Brightstar"), XXXX XXXXXXX XXXXXX ("Xxxxxx"), BRIGHTSTAR EL SALVADOR, S.A.,
an entity formed under the laws of El Salvador (the "Company") and J Y M
INMOBILIARIA, S.A. DE C.V., an entity formed under the laws of the Republic of
El Salvador ("Seller") and acknowledged and accepted by Seller's sole
shareholder, XXX XXXXXXXXX XXXXXX XX XXXXXXXX ("Xxxxxxxxx") and SEBASTIAN DE
XXXXX XXXXXXXX ("Sebastian"). The capitalized terms not defined herein shall
have the same meaning as provided in the Agreement.
RECITALS:
WHEREAS, the Brightstar, Xxxxxx and Seller entered into the Agreement
dated July 1, 2004, which Agreement was acknowledged and accepted by Xxxxxxxxx
and Sebastian; and
WHEREAS the parties to the Agreement wish to amend certain terms of
the Agreement;
NOW THEREFORE IT IS AGREED AS FOLLOWS:
1. The recitals set forth above are true and correct and are
hereby incorporated by reference.
2. The last sentence in Section 3(d) shall be deleted in its
entirety and replaced with the following:
The number of shares of Brightstar Stock transferred
to Seller pursuant to subsection (ii) herein shall
be Eighteen Thousand Six-Hundred Twenty Nine
(18,629) shares (the dollar value reflected in
subsection (ii) hereof divided by Twelve US Dollars
(US$12)).
3. In subsection (c)(ii) of Section 8, the words "fifteen (15)
calendar days" shall be replaced with "thirty (30) calendar
days".
4. All other provisions of the Agreement remain in full force
and effect.
The undersigned have executed this Amendment as of the date set forth
above and each acknowledges that they have read and understood the foregoing
Amendment.
BRIGHTSTAR:
BRIGHTSTAR CORP.
By: /s/ R. Xxxxxxx Xxxxxx
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R. Xxxxxxx Xxxxxx, President
XXXXXX:
/s/ R. Xxxxxxx Xxxxxx
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R. XXXXXXX XXXXXX, Individually
COMPANY:
BRIGHTSTAR EL SALVADOR, S.A.
By:
Name:
Title:
SELLER:
J Y M INMOBILIARIA, S.A. DE C.V.
By: /s/ Xxx Xxxxxxxxx Xxxxxx xx Xxxxxxxx
-------------------------------------
Name: Xxx Xxxxxxxxx Xxxxxx xx Xxxxxxxx
Title: Representente legal
THIS AGREEMENT WAS ACKNOWLEDGED AND AGREED TO ON THIS 28 DAY OF JULY, 2004 BY:
SELLER'S SHAREHOLDERS:
/s/ Xxx Xxxxxxxxx Xxxxxx xx Xxxxxxxx
-----------------------------------------
Xxx Xxxxxxxxx Xxxxxx xx Xxxxxxxx
/s/ Sebastian de Xxxxx Xxxxxxxx
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Sebastian de Xxxxx Xxxxxxxx
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