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EXHIBIT 10.11
AMENDMENT NO. 1
TO
LOAN AGREEMENT
THIS AMENDMENT NO. 1 is made and entered into as of July 26, 2000 by and
between I.T. Technology, Inc., a Delaware corporation (the "Borrower") and
Ledger Technologies Pty Ltd ("The Lender") (the "Amendment") to the Loan
Agreement dated June 6, 2000 between the Borrower and the Lender ("the
Agreement")
NOW THEREFORE, in consideration of the mutual promises contained herein
the parties hereto agree to amend the Agreement as follows:
1. Recital B of the Agreement is hereby amended by deleting therefrom
the words:
"the sum of FIVE HUNDRED THOUSAND AMERICAN DOLLARS ($US500,000.00) on
such terms and conditions as noted in this Agreement."
and substituting therefor the following:
"the sum of SIX HUNDRED AND FIFTY THOUSAND AMERICAN DOLLARS
($US650,000.00) on such terms and conditions as noted in this
Agreement."
2. Survival of Provisions. Except as specifically provided in this
Amendment, all of the terms and conditions contained in the Agreement, shall
remain in full force and effect.
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IN WITNESS WHEREOF the parties hereto have hereunto set their hands and seals
the day and year hereinbefore written.
THE COMMON SEAL of the Lender )
was hereto affixed )
in the presence of authorised persons: )
THE COMMON SEAL OF LEDGER TECHNOLOGIES PTY LTD ACN 085 887 921
Director /s/ LISA MOCHKIN
Full Name Lisa Mochkin
THE COMMON SEAL of the Borrower )
was hereto affixed )
in the presence of authorised persons: )
Director /s/ JONATHAN HERZOG
Full Name Jonathan Herzog
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