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EXHIBIT 10.25
CONSENT, WAIVER and
AMENDMENT
September 15,
2006
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TO:
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North American
Technologies Group, Inc. (“NATK”) and the Purchasers of
NATK Debentures and Warrants Pursuant to that certain Securities
Purchase Agreement dated September 15, 2006 (the “2006
Agreement”)
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Re:
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Securities
Purchase Agreement dated December 28, 2005 among NATK and the
Purchasers signatory thereto (the “December Agreement”)
and Securities Purchase Agreement dated July 7, 2005 among
NATK and the Purchasers signatory thereto (the “July
Agreement”)
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Dear Sirs:
Reference is made to the July
Agreement and the December Agreement and the debentures issued
thereunder (collectively, the “Debentures”). Defined
terms not otherwise defined herein shall have the meanings set
forth in the respective Agreements or Debentures. In consideration
of the Company entering into the 2006 Agreement, which each of the
undersigned acknowledges and agrees will benefit the undersigned
and their respective
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