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Exhibit No. 10(v)(a)
FIRST AMENDMENT TO
OPTION AGREEMENT
This First Amendment to the Option Agreement (this "Amendment"), dated
June 11 , 2001, is by and between FANZ ENTERPRISES, INC., a Delaware
corporation, (hereinafter referred to as the "Company") and XXXXXXX X.
XXXXXXXXXX, a consultant of the Company or one or more of its Subsidiaries
(hereinafter referred to as the "Consultant").
WHEREAS, the Company and the Consultant entered into an Option
Agreement, dated February 28, 2001 (the "Agreement"); and
WHEREAS, the Company has been requested by the administrators of
various state securities agencies to revise the Agreement as a pre-condition to
approval of the Company's application for securities registration under the
Coordinated Equity Review program.
NOW, THEREFORE, in consideration of the recitals and the mutual
promises and covenants herein contained and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereby agree to amend the Agreement as follows:
A. Section 4 of the Agreement shall be revised, and hereby is amended
to read, as follows:
4. TERM OF OPTION. The term of the Option shall be for a
period of five (5) years from the date hereof, subject to earlier
termination as hereinafter provided.
B. All other provisions of the Agreement, not specifically addressed in
Section A above, shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have hereunto affixed their
signatures as of this 11 day of June, 2001.
FANZ ENTERPRISES, INC.
By: /s/ Xxxxxxxxx X. XxXxxxxx, XX
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Xxxxxxxxx X. XxXxxxxx, XX
President
/s/ Xxxxxxx X. Xxxxxxxxxx
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XXXXXXX X. XXXXXXXXXX