Exhibit 10.20
October 29, 2004
International Tire Recycling, Co.
000 Xxxxxxxx
Xxxxxx, XX 00000
Amendment of Agreement dated April 2, 2004
Dear Xxxxxxx:
On behalf of Titan Technologies, Inc. ("Titan") and International Tire
Recycling, Co. ("International") we wish to adopt a first amendment to the
Agreement between Titan and International dated April 2, 2004, as follows:
Article I.A. on Page 1 shall be amended to state that only $180,000 of the
$500,000 deposits for the licensing fees for the first three plants ($300,000)
and the $200,000 for the exclusive license for all of Mexico have been received
and $320,000 of the licensing fees and exclusive license fee deposits are still
due.
Article I.A. on Page 2 shall be amended change the date for commencement of
construction from September 15, 2004 to March 31, 2005. This First Amendment
further confirms that the parties have agreed to extend the construction
commencement date for the first plant from September 15, 2004 to March 31, 2004
and that the License Agreement is in full force and effect as of the above date
upon signature by the undersigned.
Titan Technologies, Inc. International Tire Recycling, Co.
By: /s/ Xxx Xxxxxx By: /s/ X. X. Xxxxxxx Xxxxxx
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Xxx Xxxxxx, President X. X. Xxxxxxx Xxxxxx, President
