EXTENSION AGREEMENT
WHEREAS, ▇▇▇▇▇▇▇▇ Industries, Inc., an Oklahoma corporation, (“Buyer”) and ▇▇▇▇ ▇▇▇▇▇▇, an individual resident in New York, (“Seller”) are parties to a Stock Purchase Agreement (the “Agreement”) dated as of December 29, 2006; and
WHEREAS, Section 2.3 of the Agreement provide for a closing on or before March 15, 2007; and
WHEREAS, Buyer and Seller desire to extend the closing date; and
NOW THEREFORE, the parties hereby agree;
|
|
1. |
The date of Closing provided for in the Agreement is hereby extended until May 18, 2007. |
|
|
2. |
As compensation for this agreement to extend the closing date ▇▇▇▇▇▇▇▇ Industries shall pay ▇▇▇▇ ▇▇▇▇▇▇ $50,000 (Fifty thousand dollars) at closing. |
|
|
3. |
The discussions and commitments in our January 9, 2007 letter (attached) remain valid and binding. |
|
|
4. |
Typographical errors and formatting in the original document will be corrected in a final document coordinated between counsels by April 15th 2007. |
|
|
5. |
The original agreement and the extension are under the jurisdiction of New York law. |
In witness thereof, the parties have executed and delivered this extension agreement as of the 21st day of March, 2007.
|
|
“Buyer” |
▇▇▇▇▇▇▇▇ INDUSTRIES, INC.
|
|
By: |
/s/ ▇▇▇▇▇▇ ▇▇▇▇ |
|
|
▇▇▇▇▇▇ ▇▇▇▇ |
|
|
“Seller” |
▇▇▇▇ ▇▇▇▇▇▇
|
|
By: |
/s/ ▇▇▇▇ ▇▇▇▇▇▇ |
|
|
▇▇▇▇ ▇▇▇▇▇▇ |