Limited Waiver Agreement Regarding Section 2.4 of Consulting Agreement Between JL Montgomery Consulting, LLC and EAU Technologies, Inc.

Contract Categories: Business Finance › Waiver Agreements
Summary

JL Montgomery Consulting, LLC and EAU Technologies, Inc. have agreed that the Company's issuance of 100,000 shares of common stock to Water Science LLC will not trigger a price adjustment under Section 2.4 of their May 1, 2006 Consulting Agreement. This waiver is limited to this specific stock issuance and is formally approved by JL Montgomery Consulting, LLC. The agreement clarifies that this transaction will not affect the purchase price terms previously set in the Consulting Agreement.

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EX-10.2 3 v130814_ex10-2.htm Unassociated Document
Exhibit 10.2

JL Montgomery Consulting, LLC
October 30, 2008

EAU Technologies, Inc.
1890 Cobb International Blvd., Suite A
Kennesaw, Georgia 30152

 
Re:
Limited Waiver of Section 2.4 of Exhibit A to the Consulting Agreement dated May 1, 2006.

Gentlemen:

Reference is made to the Consulting Agreement dated May 1, 2006, by and between JL Montgomery Consulting, LLC (the "Investor") and EAU Technologies, Inc. (the "Company").

The Board of Directors of the Company, or the Compensation Committee thereof, has approved the issuance of 100,000 shares of its $0.0001 par value common stock at a sales price of $1.00 per share to Water Science LLC, an affiliate of Peter Ullrich, a director of the Company. Investor hereby agrees that the issuance of the shares of stock will not cause an adjustment in the Purchase Price pursuant to Section 2.4 of Exhibit A to the Consulting Agreement.

 
Very truly yours,
   
 
JL MONTGOMERY CONSULTING, LLC
   
 
J. Leo Montgomery
 
Managing Member