EXHIBIT 10.128

 
AMENDMENT NO. 1 TO SELLING AGREEMENT
 

THIS AMENDMENT NO. 1 TO SELLING AGREEMENT (this “Amendment”) is dated as of June
25, 2008, and effective as of May 30, 2008, by and among Performance Health
Technologies, Inc., a Delaware corporation located at 427 River View Plaza,
Trenton, NJ  08611 (the “Seller”), and Dawson James Securities, Inc., a Florida
corporation located at 925 S. Federal Highway, 6th Floor, Boca Raton, FL 33432
(the “Selling Agent”).
 
WHEREAS, the parties entered into that certain Selling Agreement, dated January
24, 2008, by and among the Seller and Selling Agent, a copy of which is attached
hereto as Exhibit A (the “Agreement”).
 
WHEREAS, the Seller and the Selling Agent wish to amend certain provisions of
the Agreement as set forth herein;
 
NOW, THEREFORE, for and in consideration of the mutual promises and covenants
other agreements contained in this Amendment, the Seller and the Selling Agent
hereby agree to amend the Agreement as follows:
 
1.   Defined Terms; Conflicting Documents.  All capitalized terms used but not
defined herein shall have the meaning set forth in the Agreement.  In the event
of any conflict between the Agreement and this Amendment, this Amendment shall
prevail and govern.
 
2.  Amendment to the Introductory Paragraph.  The first sentence of the
Introductory Paragraph of the Agreement is hereby deleted in its entirety and
replaced with the following sentence:
 
“PERFORMANCE HEALTH TECHNOLOGIES, INC., a Delaware corporation (the “Seller”),
proposes to offer and sell (the “Offering”), to selected investors, upon the
terms set forth herein and in the Subscription Agreement and the Confidential
Private Placement Memorandum for the Offering (which collectively, together with
the attachments and exhibits thereto, is referred to as the “Offering
Document”), up to $3,000,000 worth of units (the “Units”), as such Units are
described in the Offering Document (the Units being offered, including the
securities underlying such Units, are sometimes referred to herein as the
“Offered Securities”).”
 
3.  Amendment to Section 1.1.  Section 1.1 of the Agreement is hereby amended to
extend the term of the Agreement to September 30, 2008 by deleting the words
“May 31, 2008” therein and replacing them with the words “September 30, 2008.”
 
 
 
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4.  Amendment to Section 1.8.  The first sentence of Section 1.8 of the
Agreement is hereby deleted in its entirety and replaced with the following
sentence:
 
“1.8           Upon the Closing of the sale of the Offered Securities, the
Seller will issue to the Selling Agent warrants to purchase that number of
shares of common stock of the Seller that is equal to ten percent (10%) of the
number of shares of common stock of the Seller issuable upon conversion of all
of the Notes (as such term is defined in Exhibit A hereto) sold by Selling
Agent, assuming all of the Notes are converted into shares of common stock of
the Seller as of the Closing date at a purchase price equal to the Conversion
Price (as that term is defined in the final agreements relating to the Offered
Securities) calculated as of such Closing date (the “Warrant Price”).”
 
5.  Amendment to Exhibit A.  Exhibit A of the Agreement is hereby amended such
that the term “Offering Size” is increased from $2,500,000 to $3,000,000 and the
number of Units set forth next to the section entitled “Securities Offered” is
increased from 2,500 to 3,000.  Exhibit A may be changed from time to time by
mutual agreement of Seller and Selling Agent until such time as the final
Offering Document is complete, at which time the Offering Document shall govern
the terms of the Offering.
 
6.  Ratification. Except as specifically herein amended and modified, all terms
and conditions of the Agreement remain unchanged and in full force and effect.
 
7.  Incorporation of Changes. The parties hereto covenant and agree that the
amendments contemplated in this Amendment shall be deemed to be incorporated by
reference into and made a part of the Agreement.
 
[Signature Page Follows]

 
 
 
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SIGNATURE PAGE TO AMENDMENT NO. 1 TO SELLING AGREEMENT

Please acknowledge your acceptance of the foregoing Amendment by signing and
returning a copy to the undersigned whereupon it shall become a binding
agreement between us.

PERFORMANCE HEALTH TECHNOLOGIES, INC.
 
By:
   
Name:
 
Title:
 
DAWSON JAMES SECURITIES, INC.
 
By:
   
Name:
 
Title:

 
 
 
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Exhibit A

Selling Agreement
 
 
 

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