EXHIBIT 10.74
AMENDMENT NO. 1 TO REGISTRATION RIGHTS AGREEMENT
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This Amendment No. 1 to Registration Rights Agreement (this
"Amendment"), dated April 29, 2003, is made by and among iBIZ Technology Corp.,
a Florida corporation with its headquarters located at 0000 Xxxx Xxxx Xxxxxx
Xxxxx, Xxxxxxx, Xxxxxxx 00000 (the "Company") and AJW Partners, LLC, AJW
Offshore, Ltd. and AJW Qualified Partners, LLC (collectively, the "Investors").
WHEREAS:
The Company and the Investors are parties to that certain Registration
Rights Agreement, dated January 31, 2003 (the "Registration Rights Agreement"),
and certain related documents; and
The Company and the Investors desire to amend the Registration Rights
Agreement as set forth below.
NOW, THEREFORE, the Company and the Investors hereby agree as
follows:
1. AMENDMENT. The Company and the Investors hereby agree to amend the
definition of "Registrable Securities" in Section 1 of the Registration
Rights Agreement to provide as follows:
"(III) "REGISTRABLE SECURITIES" means the Conversion Shares
issued or issuable upon conversion or otherwise pursuant to the Debentures and
Additional Debentures (as defined in the Securities Purchase Agreement) and
Warrant Shares issuable, upon exercise or otherwise pursuant to the Warrants and
Additional Warrants (as defined in the Securities Purchase Agreement), and any
shares of capital stock issued or issuable as a dividend on or in exchange for
or otherwise with respect to any of the foregoing."
2. NO OTHER PROVISIONS OR DOCUMENTS AFFECTED HEREBY. This Amendment does
not affect any other provisions of the Securities Purchase Agreement or
the provisions of any other document entered into in connection with
the transactions set forth therein.
[Signatures on the Following Page]
IN WITNESS WHEREOF, the parties have caused this Amendment to be duly
executed as of the date first written above.
IBIZ TECHNOLOGY CORP.
/s/ Xxxxxxx X. Xxxxxxxxx
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Xxxxxxx X. Xxxxxxxxx
President and Chief Executive Officer
AJW PARTNERS, LLC
By: SMS Group, LLC
/s/ Xxxxx X. Xxxxxxxx
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Xxxxx X. Xxxxxxxx
Manager
AJW OFFSHORE, LTD.
By: First Street Manager II, LLC
/s/ Xxxxx X. Xxxxxxxx
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Xxxxx X. Xxxxxxxx
Manager
AJW QUALIFIED, LLC
By: AJW Manager, LLC
/s/ Xxxxx X. Xxxxxxxx
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Xxxxx X. Xxxxxxxx
Manager
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