Exhibit 10.27.12
[EUROTECH logo]
July 24, 2002
IpPartners, Inc
P.O. Box 1490
Coventry, Rhode Island 02816
Attn: Xxxxxx Xxxxxx, President
Re: Eurotech, Ltd.
Dear Xx. Xxxxxx:
With reference to a certain Consulting Agreement by and between Eurotech, Ltd.
("Eurotech") and Xxxxxx Xxxxxx ("Xxxxxx")/ipPartners, Inc. ("ipPartners") dated
as of March 23, 2001 to be effective as of February 14, 2001 (the "Xxxxxx
Consulting Agreement"), this Letter Agreement shall serve as a limited amendment
of the Xxxxxx Consulting Agreement. Specifically, this Letter Agreement confirms
the understanding that Eurotech shall pay to Xxxxxx'x designee, ipPartners
$5,000 per month, in cash, to ipPartners until December 2002 for marketing
technical and marketing services provided by ipPartners and Xxxxxx. These
payments shall be made in arrears on or before the 15th day of each month. The
Xxxxxx Consulting Agreement, which expired February 14, 2002, shall be deemed
extended by this Letter Agreement for an additional period until December 13,
2002. Additionally, it is understood that there are no additional payments due
for the period from February 14, 2002 until July 31, 2002 beyond those that have
already been made by Eurotech. All other terms and conditions of the
Xxxxxx/ipPartners Inc Consulting Agreement shall remain unchanged by this Letter
Agreement.
If the above comports with your understanding, please sign below.
Sincerely,
EUROTECH, LTD.
By: /S/ XXXX X. XXXXX
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Xxxx X. Xxxxx
President and CEO
AGREED AND ACCEPTED
AS OF THE DATE OF THIS LETTER:
ipPartners, Inc.
By: /S/ XXXXXX XXXXXX
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Xxxxxx Xxxxxx
President
Xxxxxx Xxxxxx, Individually
/S/ XXXXXX XXXXXX
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Xxxxxx Xxxxxx
