Exhibit 10.16
AMENDMENT TO
INVESTMENT AGREEMENT
This amending agreement (the "Amending Agreement") amends the terms of the
Investment Agreement (the "Investment Agreement"), dated as of September 30,
2005 by and between Securac Corp., a Nevada corporation (the "Company"), and
Dutchess Private Equities Fund, LP, a Delaware limited partnership (the
"Investor").
The Company and the Investor are hereinafter sometimes referred to as the
"Parties" or in the singular, as "Party".
WHEREAS the Parties have agreed to amend the terms of the Investment Agreement
to delete the right of first refusal included therein in favor of the Investor.
NOW THEREFORE the Investment Agreement is amended as follows:
1. Section 4(V) - RIGHT OF FIRST REFUSAL, is replaced in its entirety as
follows:
"Intentionally deleted."
2. All other terms and conditions of the Investment Agreement, and any
schedules and exhibits attached thereto, will remain in full force and effect.
3. This Amending Agreement may be executed in any number of separate
counterparts and/or via facsimile, each of which shall be deemed an original and
all of which when taken together shall be deemed one and the same instrument.
IN WITNESS WHEREOF, the Parties have duly executed and delivered this Amending
Agreement as of the 24th day of October, 2005.
SECURAC CORP.
Per: /s/ Xxxx Xxxxx Xxxxxxx
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Name: Xxxx Xxxxx Xxxxxxx
Title: Chief Financial Officer
DUTCHESS PRIVATE EQUITIES FUND, LP
Per: /s/ Xxxxxxx X. Xxxxxxxx
------------------------
Name: Xxxxxxx X. Xxxxxxxx
Title: Managing Member
