Amendment to Master Lease Agreement Schedule between General Electric Capital Corporation and The Sagemark Companies, LTD.

Summary

This amendment updates the terms of a lease agreement between General Electric Capital Corporation (Lessor) and The Sagemark Companies, LTD. (Lessee). The changes extend the lease term from 84 to 87 months and revise the monthly payment schedule, including adjustments to the number of months and payment amounts. All other terms of the original agreement remain unchanged. The amendment is effective as of October 15, 2007.

EX-10.5 7 v091810_ex10-5.htm

EXHIBIT 10.5

GE Healthcare Financial Services

AMENDMENT TO SCHEDULE DATED AS OF 02/12/2006

TO MASTER LEASE AGREEMENT DATED AS OF 06/24/2003

INTERNAL CONTRACT REFERENCE NUMBER 8541217-003

This is an Amendment dated as of 10/15/2007 to the Schedule and Master Lease Agreement referenced above between General Electric Capital Corporation (“Lessor”) and The Sagemark Companies, LTD. (“Lessee’).

The Term of Schedule and Monthly Installment Sections are hereby amended as follows:

Original - Term Of Schedule: 84 Months

Amended - Term of Schedule: 87 Months

Original - Monthly Installment: 5 Months @ $0.00, 6 Months @ $18,452.64, 1 Month @ $38,670.80, 72 Months @ $38,670; plus applicable taxes

Amended - Monthly Installment: 5 Months @ $0.00, 6 Months @ $18,452.64, 4 Month @ $38,670.80, 3 Months @ $16,081.69 (Monthly Interest Payment), 69 Months @ $38,670.80; plus applicable taxes

EXCEPT AS PROVIDED IN THIS AMENDMENT, ALL OTHER TERMS AND CONDITIONS OF THE ABOVE REFERENCED SCHEDULE REMAIN IN FULL FORCE AND EFFECT AS ORIGINALLY WRITTEN.

Lessor:	Lessee:

General Electric Capital Corporation	The Sagemark Companies, LTD.

By: /s/ David Handke	By: /s/ George W. Mahoney

Print Name: David Handke	Print Name: George W. Mahoney

Title: Duly Authorized Signatory	Title: Chief Financial Officer