EX-2.2 Amendment to Share Transfer, Exchange and Contribution Agreement

EX-2.2 2 g09354exv2w2.htm EX-2.2 AMENDMENT TO SHARE TRANSFER, EXCHANGE AND CONTRIBUTION AGREEMENT EX-2.2 Amendment to Share Transfer, Exchange
 

Exhibit 2.2
AMENDMENT NO.1
TO
SHARE TRANSFER, EXCHANGE AND CONTRIBUTION AGREEMENT
     This AMENDMENT NO. 1 TO SHARE TRANSFER, EXCHANGE AND CONTRIBUTION AGREEMENT (this “Amendment”) dated August 28, 2007 is by and among CELLULAR TECHNICAL SERVICES COMPANY, INC., a Delaware corporation (“Parent”), SAFESTITCH LLC, a Virginia limited liability company (the “Company”) and the members of the Company (the “Company Members”).
RECITALS
     A. On July 25, 2007, Parent, the Company and the Company Members entered into that certain Share Transfer, Exchange and Contribution Agreement (the “Share Exchange Agreement”).
     B. The parties to the Share Exchange Agreement now desire to amend the Share Exchange Agreement as specified below.
     All terms used, but not defined herein, shall have the meanings ascribed to them in the Share Exchange Agreement.
     NOW THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereby agree as follows:
     Section 8.1(b) of the Share Exchange Agreement is hereby deleted in its entirety and replaced by the following:
“by Parent or the Company (i) if the Closing Date shall not have occurred on or prior to September 30, 2007 (the “Deadline Date”) unless the failure of such occurrence shall be due to the failure of the party seeking to terminate this Agreement to perform or observe its agreements set forth herein to be performed or observed by such party at or before the Closing Date;”
     Except as expressly modified by this Amendment, the Share Exchange Agreement shall remain in full force and effect, and this Amendment shall be subject to all the terms, provisions and conditions, except as herein modified, of the Share Exchange Agreement. This Amendment may be executed in one or more counterparts, all of which shall be considered one and the same agreement and each of which shall be deemed an original. The exchange of copies of this Amendment and of signature pages by facsimile transmission shall constitute effective execution and delivery of this Amendment as to the parties hereto and may be used in lieu of the original Amendment for all purposes. Signatures of the parties hereto transmitted by facsimile shall be deemed to be their original signatures for all purposes.
[Signature Pages Follow]

 


 

     IN WITNESS WHEREOF, Parent, the Company and each of the Company Members has duly executed this Agreement as of the day and year first above written.
             
Parent:
           
 
           
    CELLULAR TECHNICAL SERVICES COMPANY, INC.
 
           
    By:   /s/ Stephen Katz
         
 
      Name:   Stephen Katz
 
      Title:   Chief Executive Officer and
 
               Chairman of the Board
 
           
Company:
           
 
           
    SAFESTITCH LLC
 
           
    By:   /s/ Jeffrey Spragens
         
 
      Name:   Jeffrey Spragens
 
      Title:   CEO and President
 
           
Company Members:
           
 
           
    /s/ Dr. Charles Filipi
     
        DR. CHARLES FILIPI
 
           
    /s/ Jeffrey G. Spragens
     
        JEFFREY G. SPRAGENS
 
           
    /s/ Jane Hsiao
     
        JANE HSIAO
 
           
    /s/ Steven Rubin
     
        STEVEN RUBIN
 
           
    /s/ Rao Uppaluri
     
        RAO UPPALURI
 
           
    THE JOY F. SPRAGENS FAMILY TRUST
DATED NOVEMBER 18, 2003
 
           
    By:   /s/ Kathleen Norris
         
 
      Name:   Kathleen Norris
 
      Title:   Trustee

 


 

             
    RSLS INVESTMENTS LLC
 
           
    By:   /s/ Jeffrey Spragens
         
 
      Name:   Jeffrey Spragens
 
      Title:   Manager
 
           
    FROST GAMMA INVESTMENTS TRUST
 
           
    By:   /s/ Dr. Phillip Frost
         
 
      Name:   Dr. Phillip Frost
 
      Title:   Trustee