AMENDMENT TO
DEVELOPMENT
AGREEMENT
THIS
AMENDMENT TO DEVELOPMENT AGREEMENT (“Amendment”) is
entered into as of August 4, 2004 (the “Amendment Effective
Date”) between REMEDENT USA, INC., a Nevada corporation (the
“Company”) and P. Michael Williams, a sole proprietor
(“Williams”). shall sometimes be referred to
individually as the “Party” and collectively as the
“Parties.”
RECITALS
|
A.
|
|
WHEREAS, On March 24, 2004, the
Company and Williams entered into that certain Development
Agreement (the Agreement”);
|
|
B.
|
|
WHEREAS, Williams has already
received $85,000 from the Company pursuant to Section 2.2 of the
Agreement but is requesting additional funding; and
|
B.
WHEREAS, the Company and Williams desire to enter into this
Amendment;
NOW
THEREFORE, in consideration of the foregoing Recitals, which are
incorporated into the operative provisions of this Agreement by
this reference, the Parties hereto agree as follows:
1.
Additional Funding. Although not required by the original
Agreement, pursuant to this Amendment, the Company shall pay
Williams $28,500 in additional funds (the “Additional
Funds”) within 15 days of the Amendment Effective Date.
Williams agrees that the Additional Funds will be used only for the
purposes of pursuing the Development Program.
2.
Modifications to Development Program and Development
Proposal. The Parties Agree that the Development Period is
hereby amended to terminate on [DATE] and the Development Proposal
is hereby amended to allow the product being developed by
Wi
