Amendment No. 1 to Asset Purchase Agreement between iParty Retail Stores Corp. and The Big Party Corporation

Summary

This amendment updates the Asset Purchase Agreement between iParty Retail Stores Corp. (Purchaser) and The Big Party Corporation (Seller), dated August 2, 2000. The amendment changes the contact information for the Seller and specifies new addresses for official communications. All other terms of the original agreement remain unchanged. The amendment is effective as of August 2000 and is signed by the CEOs of both companies.

EX-2.2 3 0003.txt AMENDMENT NO. 1 TO ASSET PURCHASE AGREEMENT EXHIBIT 2.2 AMENDMENT NO. 1 TO ASSET PURCHASE AGREEMENT BY AND AMONG IPARTY RETAIL STORES CORP., AS PURCHASER, AND THE BIG PARTY CORPORATION, AS SELLER Amendment No. 1, dated as of the __ day of August, 2000, by and between the Big Party Corporation, debtor and debtor in possession, as seller ("Seller"), and iParty Retail Stores Corp., f/k/a iParty Retail Store Corp., as purchaser ("Purchaser"), to the Asset Purchase Agreement, dated August 2, 2000 (the "Agreement"). Subject in all respects to the terms and provisions set forth herein, the Agreement is hereby modified and amended as follows: 1. Article XI, Section 11.3 . Article XI, Section 11.3 of the Agreement shall be amended to redact the entirety of subsection "(A)" thereof and substitute in its place the following: "(A) If to Seller, addressed as follows: The Big Party Corporation 1457 VFW Parkway West Roxbury, MA 02132 Attn: Robert Trabucco, CEO Tel: (617) 323-0822 Fax: (617) 323-5073 With copies to: Traub, Bonacquist & Fox L.L.P. 655 Third Avenue New York, NY 10017 Attn: Paul Traub, Esq. Tel: (212) 476-4770 Fax: (212) 476-4787 -and- The Official Committee of Unsecured Creditors c/o Otterbourg, Steindler, Houston & Rosen, P.C. 230 Park Avenue New York, NY 10169 Attn: Scott L. Hazen, Esq. Tel: (212) 661-9100 Fax: (212) 682-6104" Except as expressly modified hereby, all other provisions, terms and conditions of the Agreement remain in full force and effect. This Amendment is entered into as of the date first written above by the parties signatory below. iPARTY RETAIL STORES CORP., As Purchaser By: /s/ Sal Perisano ------------------------ Name: Sal Perisano Its: Chief Executive Officer THE BIG PARTY CORPORATION, Debtor and Debtor in Possession, As Seller By: /s/ Robert Trabucco ------------------------------ Name: Robert Trabucco Its: Chief Executive Officer 2