Amendment to Client Services Agreement between Owings-1, LLC and Transfer Enterprises, Inc.

Contract Categories: Business Finance › Modification Agreements
Summary

Owings-1, LLC and Transfer Enterprises, Inc. have amended their Client Services Agreement dated May 10, 2013. Under this amendment, Owings-1 will no longer receive compensation in the form of stock from Transfer Enterprises. Instead, all compensation to Owings-1 will be paid in cash as specified in the original agreement. All other terms of the original agreement remain unchanged.

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EX-10.2 7 fs10901_x102-tran.htm CLIENT SERVICE AGREEMENT AMENDMENT fs10901_x102-tran.htm
CLIENT SERVICES AGREEMENT- AMENDMENT
 

 
THIS AMENDMENT is entered into this 19th day of August, 2013 between Owings-1, LLC (“Owings”) and Transfer Enterprises, Inc (“Transfer Enterprises”).
 
WHEREAS, Section 6(b) of the Client Services Agreement dated May 10, 2013 between Owings-1 and Transfer Enterprises provides for the possibility that Transfer Enterprises shall compensate Owings-1 in stock for Owings-1’s services;
 
Owings-1 and Transfer Enterprises hereby agree that Owings-1 shall not be compensated by any shares of stock in Transfer Enterprises;
 
Owings-1 shall be compensated in cash as described in Section 6(a) of the Client Services Agreement.
 
All other provisions of the existing Client Services Agreement shall remain in effect.
 
 
 
WHEREFORE, the parties have executed this agreement as of the date first mentioned above.
 
 
OWINGS-1, LLC
 
By:  /s/Mark Johnson
        Mark Johnson, Managing Member
 

 
TRANSFER ENTERPRISES, INC.
 
By: ____/s/ Jerry Gruenbaum__________
       Jerry Gruenbaum, President