EXHIBIT 2.2AMENDMENT AND SETTLEMENT AGREEMENT     This Amendment and Settlement Agreement is dated February 24, 2006, by and between 4279Investments Ltd. (“4279 Investments”) and its subsidiaries listed on the signature page hereto andCohesant Technologies Inc. (“COHT”) and its subsidiaries listed on the signature page hereto.R E C I T A L S     WHEREAS, 4279 Investments and its subsidiaries, pursuant to an Asset Purchase Agreement, datedAugust 12, 2005 (the “Purchase Agreement”), sold the assets of the Business (as defined in thePurchase Agreement”) to certain subsidiaries of COHT;     WHEREAS, pursuant to Section 2.2 of the Purchase Agreement, the Purchasers are to make apayment to Sellers of the positive variance in the Final Determined Net Working Capital;     WHEREAS, pursuant to Section 2.3 of the Purchase Agreement, the Sellers are obligated torepurchase certain receivables acquired by the Purchasers if they remain uncollected;     WHEREAS, the parties further desire to settle all currently known disputes relating toSeller’s indemnification obligations under Section 8.2 of the Purchase Agreement, which are securedby the assets held under the Escrow Agreement, dated August 12, 2005 among the Purchasers, theSellers and JP Morgan Trust Company, as Escrow Agent.     NOW THEREFORE, in consideration of the covenants and agreements herein contained, and othergood and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, theparties agree as follows:     1. Payment to Sellers. Within two (2) business days of execution of this Amendmentand Settlement Agreement, COHT will deliver to 4279 Investments $342,136 cash,
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together with all rights to these receivables totaling $158,900 listed on Schedule A hereto. Thepayments and transfer hereunder is in full satisfaction of all rights and obligations underSections 2.2 and 2.3 of the Purchase Agreement. 4279 Investments agrees to indemnify COHT and itsofficers and directors against any and all claims that may be brought by any of the debtors listedon Schedule A as counter or cross claims asserted in any action brought by 4279 Investments or itsaffiliates to collect the receivables listed on Schedule A.     2. Release of Escrowed Shares to 4279 Investments. Upon execution of this Amendmentand Settlement Agreement, the parties will provide written instruction to the Escrow Agent torelease from the Escrow and to deliver to 4279 Investments Seventy Five Thousand (75,000) shares ofCOHT Common Stock.     3. Payment to COHT. Upon execution of this Amendment and Settlement Agreement, theparties will provide written instructions to the Escrow Agent to release from the Escrow and todeliver to COHT $77,250 in cash and Seven Thousand Five Hundred (7,500) shares of COHT CommonStock. COHT will take all action necessary to have its transfer agent divide the certificate forthe Escrowed Shares into two or more certificates to carry out the purpose of Section 2 and thisSection 3 of this Amendment and Settlement Agreement. A certificate of 75,000 COHT shares shall bedelivered to 4279 Investments, the 7,500 COHT shares delivered to COHT shall be deemed cancelled,and two certificate for 79,017 and 70,224 COHT shares, respectively, shall be delivered to theEscrow Agent.     4. Amendment to Escrow Agreement.          Section 8(a) of the Escrow Agreement is amended and restated to read as follows:(a) the cash component of the Escrow Account and 79,017