Document:

EXHIBIT 10.1
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     AMENDMENT BETWEEN ANGIOTECH PHARMACEUTICALS, INC. AND BOSTON SCIENTIFIC
      CORPORATION MODIFYING JULY 9, 1997 LICENSE AGREEMENT AMONG ANGIOTECH
   PHARMACEUTICALS, INC., BOSTON SCIENTIFIC CORPORATION, AND COOK INCORPORATED

         This Amendment is made and entered into as of this 23nd day of
November, 2004, by and between Angiotech Pharmaceuticals, Inc., a corporation
organized under the laws of the Province of British Columbia ("Angiotech"), and
Boston Scientific Corporation, a Delaware corporation ("BSC").

         WHEREAS, Angiotech, BSC, and Cook Incorporated ("Cook") entered into
the "License Agreement Among Angiotech Pharmaceuticals, Inc., Boston Scientific
Corporation and Cook Incorporated" dated July 9, 1997, under which Angiotech
agreed to license on a co-exclusive basis to Cook and BSC certain patent rights,
license rights, and technology relating to the use of paclitaxel or other agents
as a coating for certain medical devices, and BSC and Angiotech have amended
that agreement on December 13, 1999 (collectively, the "Angiotech License
Agreement");

         WHEREAS, BSC has been advised that, effective as of September 24, 2004
and pursuant to the Angiotech License Agreement, Angiotech and Cook agreed, by
Amendment to the Angiotech License Agreement ("Cook Amendment"), to terminate
Cook's worldwide rights and licenses within the Licensed Field of Use and
Licensed Applications to use, manufacture, have manufactured, distribute and
sell, and to grant sublicenses to its Affiliates to use, manufacture, have
manufactured, distribute and sell, the Angiotech Technology in the Coronary
Vascular Field of Use;

         WHEREAS, BSC is not a party to the Cook Amendment and is not bound by
any terms, conditions, premises, understandings, and/or provisions thereof
except to the extent as expressly agreed in a September 24, 2004 letter from BSC
to Angiotech; and

         WHEREAS, as provided herein, Angiotech and BSC desire to amend the
Angiotech License Agreement to modify certain rights and licenses granted to
BSC;

         NOW THEREFORE, Angiotech and BSC hereby agree as follows:

    1.   BSC hereby exercises its rights under Section 9.3 of the Angiotech
         License Agreement to cause to become exclusive its right and license to
         use, manufacture, have manufactured, distribute and sell, and to grant
         sublicenses to its Affiliates to use, manufacture, have manufactured,
         distribute and sell, the Angiotech Technology in the "Coronary Vascular
         Field of Use" for use in the Licensed Applications. As used herein, the
         "Coronary Vascular Field of Use" means endoluminal vascular Licensed
         Applications for the treatment and/or prevention of disease of the
         coronary arteries and their branches, or other vasculature providing
         blood flow to the heart.

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    2.   Angiotech hereby grants to BSC the right for BSC to sublicense to any
         third party any or all rights or licenses within the Licensed Field of
         Use and Licensed Applications to use, manufacture, have manufactured,
         distribute, and sell the Angiotech Technology in the Coronary Vascular
         Field of Use subject to the provisions in the Licenses. Regarding any
         sublicenses granted or to be granted under this Paragraph, BSC agrees
         to comply with all obligations regarding any such sublicenses that may
         arise under any License, including but not limited to those set forth
         in paragraphs 4.01-4.04 of the March 28, 2002 Public Health Service
         Patent License Agreement -- Exclusive (the "PHS Agreement"), provided
         that Angiotech will continue to be responsible for any amounts due the
         licensors under any License. In addition BSC shall provide Angiotech
         notice of any sublicense granted pursuant to this Section 2 sufficient
         for Angiotech to provide notice to the licensor under the relevant
         License. Angiotech agrees not to amend the existing Licenses in the
         Coronary Vascular Field of Use without the prior consent of BSC nor
         enter into new Licenses that limit BSC's ability to sublicense
         Angiotech Technology and/or New Angiotech Technology in the Coronary
         Vascular Field of Use without the prior consent of BSC.

    3.   In consideration of the right to sublicense granted by Angiotech to BSC
         hereunder and as further consideration for the other modifications to
         the Angiotech License Agreement as set forth herein, BSC agrees to pay
         Angiotech on November 24, 2004, $13,900,000.00 (US). In addition,
         pursuant to Section 9.3 of the Angiotech License Agreement, as of
         November 24, 2004, BSC royalty rates set forth in Section 3.2 of the
         Angiotech License Agreement shall be increased by 1% solely with
         respect to Net Sales within the Coronary Vascular Field of Use.
         Specifically, the royalty rates set forth in Sections 3.2(a) shall be
         increased in the Coronary Vascular Field of Use for use in the Licensed
         Applications to the following rates: Section 3.2(a)(i), six percent
         (6%); Section 3.2(a)(ii), eight percent (8%); Section 3.2(a)(iii),
         eleven percent (11%), and after the $100,000,000 payment threshold,
         nine percent (9%).

    4.   In the event that Cook, its Affiliates, Distributors, or agents make
         any sales at any time in any Geographic Area of the Logic(TM) PTX(TM)
         and/or V-Flex Plus PTX(TM) drug eluting coronary stents in the Coronary
         Vascular Field of Use, but only so long as said sales are expressly
         permissible under the terms of the Cook Amendment, BSC agrees that:

         (a) Section 8.11 of the Angiotech License Agreement does not apply to
         any such sales by Cook, its Affiliates, or Distributors; and

         (b) the De Facto Exclusivity (of Section 3.3 of the Angiotech License
         Agreement) for any BSC Eligible Product in any particular country shall
         not be deemed to be lost as a result of any such sales by Cook, its
         Affiliates, or Distributors.

    5.   Subject to subsection (a) and (b) hereof, BSC agrees that if it
         exercises its right under this Amendment to grant a sublicense in the
         Coronary Vascular Field of Use to a third party, within thirty (30)
         days of the close of any such transaction, BSC (or its successors or
         assigns, as the case may be) will pay to Angiotech 15% of the fair
         market value of all non-recurring, monetary and/or non-monetary
         consideration received by BSC or any of its Affiliates, successors, or
         assigns from or on behalf of such third party for receipt of such

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         sublicense. Notwithstanding any assessment of actual fair market value
         for said consideration, the minimum amount due Angiotech under such
         circumstances for any sublicense shall be $100 million ($100,000,000),
         and the maximum amount due Angiotech under such circumstances shall be
         $250 million ($250,000,000). Notwithstanding the foregoing:

         (a) No payment shall be due from BSC for the fair market value of
         non-recurring consideration if BSC's primary purpose for the grant of
         such a sublicense is to maintain the ability to manufacture, use, offer
         for sale, and/or sell Stent Products or Endoluminal Products for
         Licensed Applications. However, before any such sublicense is granted
         to a third party, BSC agrees to inform Angiotech of such sublicense;

         (b) In the event that BSC is required to offer a sublicense by any
         governmental agency or court order for any reason, then there shall be
         no minimum payment due Angiotech as a result of said sublicense;

          (c) Any amounts due shall be based solely on the fair market value of
         any and all consideration received for said sublicense only. To
         determine the fair market value of such consideration, within twenty
         (20) days of the close of any such sublicense transaction, BSC will
         afford Angiotech access to all information necessary to determine such
         consideration; and

         (d) If Angiotech and BSC cannot agree on the fair market value of such
         consideration under 5(c), or, if any other dispute arises under this
         Amendment, Angiotech or BSC may submit the matter to arbitration in
         accordance with Section 10.2 of the Angiotech License Agreement.

    6.   BSC agrees that if it exercises its right under this Amendment to grant
         a sublicense in the Coronary Vascular Field of Use to a third party,
         BSC will remain liable for BSC's obligations under the Angiotech
         License Agreement and that no such sublicense shall be effective unless
         it, as fully executed by the sub-licensee, requires and states in
         writing, that (1) the sub-licensee agrees to be bound by and comply
         with (as if it were BSC) the relevant terms of the Licenses and the
         Angiotech License Agreement, including, but not limited to, Section
         6.4, and (2) the sub-licensee agrees that within sixty (60) days after
         the end of each Contract Quarter during the term of the sublicense, the
         sub-licensee shall pay to BSC a royalty of at least 12% on all Net
         Sales by the sub-licensee of Eligible Products (that are covered in the
         country of sale by one or more valid and enforceable claims included in
         the Patent Rights) during such Contract Quarter in each of the
         Geographical Areas. BSC shall pay a royalty of 12% to Angiotech of such
         Net Sales within (10) days of receipt of royalties from sub-licensee.
         BSC further agrees that any sales by BSC's sub-licensees will not
         affect, and in particular shall not (by the action of any provision of
         the Angiotech License Agreement, including, but not limited to,
         Sections 3.3 and 8.11 of the Angiotech License Agreement) decrease, any
         royalty obligations on sales by BSC, its Affiliates, or Distributors.

    7.   Angiotech hereby grants to BSC the right for BSC to have third party
         Distributors distribute Eligible Products. For purposes of this
         Amendment, a "Distributor" is defined as a third party and its

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         Affiliates whose business is to buy medical devices for resale, but
         shall in no instance include any third party that, by itself or through
         its Affiliates (1) in any way manufactures all or any part of stent
         products or stent-delivery systems for sale in the United States or
         Europe, or (2) manufactures or provides BSC or its Affiliates with all
         or any part of any Eligible Products. BSC further agrees that any sales
         by BSC's Distributors may not be the basis of a royalty reduction
         pursuant to Sections 3.3 and/or 8.11 of the Angiotech License
         Agreement.

    8.   It is acknowledged that, in the event that BSC distributes Eligible
         Products through Distributors in any Geographic Area, Net Sales as used
         in the Angiotech License Agreement shall be calculated from the gross
         sales by BSC to Distributors, provided that for purposes of this
         calculation BSC's aggregate average selling price to Distributors of
         Eligible Products in a Geographic Area other than Japan would not be
         less than seventy percent (70%) of BSC's aggregate average selling
         price for direct sales of Eligible Products in the Geographic Area, and
         provided further that for purposes of this calculation in the event BSC
         does not have any direct sales in a Geographic Area other than Japan,
         Net Sales shall be calculated as seventy percent (70%) of the average
         selling price of Eligible Products as reported to BSC by the
         Distributors in the Geographic Area.

    9.   Angiotech and BSC hereby agree that from September 24, 2004, all
         provisions, rights, and obligations of Section 8.2 through and
         including 8.5, and 8.11 of the Angiotech License Agreement shall no
         longer apply to Cook regarding those matters or actions that relate to
         the Coronary Vascular Field of Use or to products indicated for use in
         the Coronary Vascular Field of Use.

    10.  Section 8.2 of the Angiotech License Agreement is hereby modified
         solely as to the enforcement of the NeoRx Technology, and the Angiotech
         Technology (including the NIH Patent Rights) in the Coronary Vascular
         Field of Use as follows:

            o     8.2(a) Subject to Angiotech's obligations to NIH and any other
                  third party licensors, BSC shall have in the first instance
                  the right, in its sole discretion and its own expense, to
                  prosecute in its own name any alleged infringements of (i) the
                  NeoRx Technology (as sublicensed to BSC by the December 13,
                  1999 Agreement With Respect to License Agreement Among
                  Angiotech Pharmaceuticals, Inc., Boston Scientific Corporation
                  and Cook Incorporated) in the Coronary Vascular Field of Use,
                  and (ii) the NIH Patent Rights (as included within the
                  Angiotech Technology) in the Coronary Vascular Field of Use.

            o     8.2(b) As between Angiotech and BSC, (i) BSC agrees to allow
                  Angiotech to participate as a party plaintiff, at its own
                  expense, in any suit brought with respect to infringement of
                  the NeoRx Technology and/or the NIH Patent Rights, and (ii),
                  Angiotech agrees to allow BSC to include Angiotech, at the
                  expense of BSC, as a plaintiff in any suit brought with
                  respect to any such infringement.

            o     8.2(c) As between Angiotech and BSC, (i) Angiotech agrees to
                  allow BSC to participate as a party plaintiff, at BSC's own
                  expense, in any suit brought with respect to infringement of
                  the Angiotech Technology other than the NeoRx Technology or

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                  the NIH Patent rights, and (ii) BSC agrees to allow Angiotech
                  to include BSC, at the expense of Angiotech, as a plaintiff in
                  any suit brought with respect to any such infringement.

            o     8.2(d) The parties agree to consult with each other in good
                  faith on any significant matters relating to such litigation
                  (as set forth in 8.2(a) -(c)) reasonably in advance of any
                  acts regarding such matter so that the other party can timely
                  provide its advice. Significant matters include, for example,
                  initiation of any suit, and any other acts that may adversely
                  affect the interpretation, validity, or enforceability of any
                  patent right under the NeoRx Technology or the Angiotech
                  Technology (including the NIH Patent Rights). BSC agrees to
                  comply with all obligations regarding infringement and patent
                  enforcement set forth in all Licenses, including but not
                  limited to the PHS Agreement.

Section 8.2 of the Angiotech License Agreement remains unmodified other than as
to the Coronary Vascular Field of Use.

    11.  Section 8.3 of the Angiotech License Agreement is modified solely as to
         the Coronary Vascular Field of Use as follows:

            o     8.3(a) For any potential infringement of the NeoRx Technology
                  and/or the NIH Patent Rights subject to Section 8.2(a), and
                  subject to Angiotech's obligations to NIH and any other third
                  party licensors, in the event that BSC, within ninety (90)
                  days after being notified by Angiotech of any infringement,
                  shall have been unsuccessful in negotiating with the alleged
                  infringer to cease and desist such infringement and shall not
                  have brought an infringement action, or shall have notified
                  Angiotech that it has determined not to bring an action
                  against the alleged infringer, then, in those events,
                  Angiotech shall have the right to bring an action against such
                  infringer at its own expense. Prior to instituting any such
                  action, Angiotech shall provide at least twenty (20) days
                  written notice of such action to BSC, which shall have the
                  right to confer with Angiotech prior to the filing of such
                  action. BSC agrees to allow Angiotech to include it, at the
                  expense of Angiotech, as a plaintiff in any suit brought with
                  respect to any such infringement.

            o     8.3(b) As between Angiotech and BSC, for any potential
                  infringement of the Angiotech Technology other than the NeoRx
                  Technology and the NIH Patent Rights subject to Section
                  8.2(c), and subject to Angiotech's obligations to NIH and any
                  other third party licensors, in the event that Angiotech,
                  within ninety (90) days after being notified by BSC of any
                  infringement, shall have been unsuccessful in negotiating with
                  the alleged infringer to cease and desist such infringement
                  and shall not have brought an infringement action, or shall
                  have notified BSC that it has determined not to bring an
                  action against the alleged infringer, then, in those events,
                  BSC shall have the right at its own expense to bring an action
                  against such infringer. Prior to instituting any such action,
                  BSC shall provide at least twenty (20) days written notice of
                  such action to Angiotech, which shall have the right to confer
                  with BSC prior to the filing of such action. Angiotech agrees

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                  to allow BSC to include it, at the expense of BSC, as a
                  plaintiff in any suit brought with respect to any such
                  infringement.

            o     8.3(c) The parties agree to consult with each other on any
                  significant matters relating to such litigation (as set forth
                  in 8.3(a) or (b) reasonably in advance of any acts regarding
                  such matter so that the other party can timely provide its
                  advice. Significant matters include, for example, initiation
                  of any suit, and any other acts that may adversely affect the
                  interpretation, validity, or enforceability of any patent
                  right under the NeoRx Technology or the Angiotech Technology
                  (including the NIH Patent Rights). BSC agrees to comply with
                  all obligations regarding infringement and patent enforcement
                  set forth in all Licenses, including but not limited to the
                  PHS Agreement.

    12.  Section 8.3 of the Angiotech License Agreement remains unmodified other
         than as to the Coronary Vascular Field of Use. Section 8.5 of the
         Angiotech License Agreement shall be amended to include the following:
         "In no event shall any party other than BSC enter into any settlement,
         consent judgment, or voluntary final disposition of an action that
         undermines in any way BSC's rights in the Coronary Vascular Field of
         Use including, for example, by purporting to grant sub-license rights
         in the Coronary Vascular Field of Use or to release infringement claims
         against products indicated for use in the Coronary Vascular Field of
         Use."

    13.  As between Angiotech and BSC, BSC shall provide Angiotech notice of
         BSC's prosecution of actions for any infringements of any rights within
         the NeoRx Technology or the NIH Patent Rights in the Coronary Vascular
         Field of Use. Pursuant to Section 8.5 of the Angiotech License
         Agreement, Angiotech shall be entitled to require BSC to consult with
         Angiotech and obtain Angiotech's consent (not to be unreasonably
         withheld) to enter into any settlement, consent judgment, or other
         voluntarily final disposition of any actions for any infringements of
         any rights within the NeoRx Technology or the NIH Patent Rights in the
         Coronary Vascular Field of Use where such settlement, consent judgment,
         or other voluntarily final disposition would adversely affect the
         validity or enforceability of any of the Patent Rights included in the
         Angiotech Technology, and specifically including the NeoRx Technology
         and the NIH Patent Rights, in the Peripheral Vascular Field of Use
         (defined as the endoluminal vascular Licensed Applications for
         treatment or prevention of disease of the peripheral blood vessels of
         the body) or in the GI Field of Use (defined as the endoluminal
         Licensed Applications for the treatment or prevention of disease of the
         alimentary tract or liver).

    14.  Capitalized terms not otherwise defined in this Amendment will carry
         their meaning as set forth in the Angiotech License Agreement.

    15.  Angiotech and BSC agree that, except as expressly provided in this
         Amendment, the Angiotech License Agreement shall remain unmodified and
         shall continue in full force and effect.

    16.  All provisions of this Amendment, including the preamble and WHEREAS
         clauses, are material, enforceable terms hereof.

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         IN WITNESS WHEREOF, the undersigned have duly executed this Amendment
as of the date first set forth above.

ANGIOTECH PHARMACEUTICALS, INC.

By: /s/ William L. Hunter
   ---------------------------
Name: William L. Hunter
     -------------------------
Title: President and Chief
       Executive Officer
      ------------------------

BOSTON SCIENTIFIC CORPORATION

By: /s/ Lawrence C. Best
   ---------------------------
Name: Lawrence C. Best
     -------------------------
Title: Chief Financial Officer
      ------------------------

                                      -7-EXHIBIT 10

EXHIBIT 10.1

ESCROW AGREEMENT

ESCROW AGREEMENT

THIS ESCROW AGREEMENT (this “Agreement”) dated July 23, 2004, is made by and among Elderwatch, Inc. (the “Company”) and Joseph I. Emas Esq. (the “Escrow Agent”). 

The Company has filed a registration statement on Form SB-2 with the Securities & Exchange Commission pursuant to which it intends to conduct a public offering (the “Offering”) of its shares of common stock.

The completion of the Offering is subject to the Company receiving minimum aggregate subscriptions for 200,000 shares of common stock in the capital of the Company at a price of $0.25 for gross proceeds of $50,000 (the “Minimum Offering”).

 In connection with the Offering, the parties hereto desire to establish an escrow fund to secure investors’ funds until the earlier of the completion of the Minimum Offering or the termination of the Offering on the date that is 90 days from the date (the “Effective Date”) that the Company’s registration statement on Form SB-2, as amended, is deemed effective.

NOW, THEREFORE, in consideration of the agreements and understandings contemplated in the Stock Purchase Agreement, the parties hereto agree as follows:

1.

Escrow Deposit. Upon the Effective Date, the Company may accept subscriptions for its shares of common stock from qualified investors.  The Company and the subscription agreement that it provides to prospective investors shall instruct all subscribers (each a “Subscriber”) to make their checks, bank drafts or money orders for the purchase of such shares payable to the Escrow Agent in trust and to deliver such payment, along with an executed subscription agreement to the Escrow Agent.  The Escrow Agent shall deposit all subscription funds received into a non-interest bearing attorney’s trust account in accordance with the requirements of the Florida Bar.

2.

Release of Funds to Subscribers. If the Company does not complete the Minimum Offering within 90 days from the Effective Date, the Escrow Agent shall forthwith return each subscriber’s respective subscription funds.

3.

Release of Funds to Company.  If the Company completes the Minimum Offering within 90 days from the Effective Date and provides the Escrow Agent with certificates representing the shares of common stock subscribed for by the Subscribers, the Escrow Agent shall forthwith release the subscription funds to the Company.

4.

Provisions with Respect to the Escrow Agent.

(a)

Protection of the Escrow Agent.  The Escrow Agent and the Company agree that: (i) the Escrow Agent’s duties and responsibilities shall be limited to those expressly set forth in this Agreement, and the Escrow Agent shall not be subject to, nor obliged to recognize, any other agreement between, or direction or instruction of, any or all of the parties hereto; provided, however, that this Agreement may be amended at any time or times in accordance with this Agreement; (ii) no assignment of the interest of either the Company or a Subscriber shall be permitted, nor shall any purported assignment be binding upon the Escrow Agent;  (iii) if the Escrow Deposit is attached, garnished, or levied upon under the order of any court, or the delivery thereof shall be stayed or enjoined by the order of any court, or any other order, judgment or decree shall be made or entered by any court affecting the subscription funds, the Escrow Agent is hereby expressly authorized to obey and comply with all writs, orders or decrees so entered or issued, whether with or without jurisdiction; the Escrow Agent shall not be liable to any of the parties hereto or their successors by reason of compliance with any such writ, order or decree notwithstanding such writ, order or decree being subsequently reversed, modified, annulled, set aside or vacated; (iv) in case the Escrow Agent becomes involved in litigation in connection with this Agreement, it shall have the right to retain counsel, and shall be indemnified by the Company for all reasonable and necessary costs, attorneys’ fees, charges, disbursements and expenses in connection with such litigation.

(b)

New Escrow Agent.  The Escrow Agent reserves the right to resign at any time by giving at least 30-days advance written notice of resignation to the Company and each Subscriber, specifying the effective date thereof. Within 30 days after receiving the aforesaid notice, the Company agrees to appoint a successor escrow agent. If a successor escrow agent has not been appointed and has not accepted such appointment by the end of the 30-day period commencing upon the receipt of the notice of resignation by the Company and the Subscribers, the Escrow Agent may apply to a court of competent jurisdiction for the appointment of a successor escrow agent, and the costs, expenses and reasonable attorneys’ fees which the Escrow Agent incurs in connection with such a proceeding shall be the responsibility of the Company.

 (c)

Indemnification.  Without limiting any protection or indemnity of the Escrow Agent under any other provision hereof, or otherwise at law, the Company hereby agrees to indemnify and hold harmless the Escrow Agent from and against any and all liabilities, losses, damages, penalties, claims, actions, suits, costs, expenses and disbursements, including reasonable legal or advisor fees and disbursements, of whatever kind and nature which may at any time be imposed on, incurred by or asserted against the Escrow Agent in connection with the performance of its duties and obligations hereunder, other than such liabilities, losses, damages, penalties, claims, actions, suits, costs, expenses and disbursements arising by reason of the gross negligence or fraud of the Escrow Agent. This provision shall survive the resignation or removal of the Escrow Agent, or the termination of this Agreement. The Escrow Agent shall not be under any obligation to prosecute or to defend any action or suit in respect of the relationship which, in the opinion of its counsel, may involve its expense or liability, unless the Company shall, so often as required, furnish the Escrow Agent with satisfactory indemnity and funding against such expense or liability.

5.

Miscellaneous.

(a)

Notices.  All notices, requests, demands and other communications required or permitted under this Agreement shall be in writing, and shall be deemed to have been duly given (1) on the date of delivery, if delivered personally, or sent by facsimile by 3:00 p.m. local time at the place of delivery on such date, followed by an original delivered by first class mail, registered or certified, return receipt requested, postage prepaid, to the party to whom notice is to be given, (2) within 72 hours after mailing, if mailed to the party to whom notice is to be given, by first class mail, registered or certified mail, return receipt requested, postage prepaid, or (3) on the following day if sent by a nationally recognized overnight delivery services, in each case, properly addressed to the party at his address set forth on the signature page of this Agreement or any other address that any party may designate by written notice to the others.

(b)

Counterparts. This Agreement may be executed on two or more separate counterparts, each of which will be an original and all of which taken together will constitute one and the same agreement.

(c)

Specific Performance. The obligations of the parties hereto (including the Escrow Agent) are unique in that time is of the essence, and any delay in performance hereunder by any party will result in irreparable harm to the other parties hereto. Accordingly, any party may seek specific performance and/or injunctive relief before any court of competent jurisdiction in order to enforce this Agreement or to prevent violations of the provisions hereof, and no party shall object to specific performance or injunctive relief as an appropriate remedy. The Escrow Agent acknowledges that its obligations, as well as the obligations of the Company hereunder, are subject to the equitable remedy of specific performance and/or injunctive relief.

(d)

Amendment, Waiver, etc.  This Agreement shall not be amended, modified, altered or revoked without the prior written consent of each of the Company, the Escrow Agent and any Subscriber that has delivered funds to the Escrow Agent at the time of amendment. No failure or delay by a party hereto in exercising any right, power or privilege hereunder shall operate as a waiver thereof, and no single or partial exercise thereof shall preclude any right of further exercise or the exercise of any other right, power or privilege.

(e)

Headings.  Section headings used herein are for convenience of reference only and shall not be deemed to constitute a part of this Agreement for any other purpose, or to limit, characterize or in any way affect any provision of this Agreement, and all provisions of this Agreement will be enforced as if such headings had not been included herein.

(f)

Complete Agreement. This Agreement constitutes the entire agreement among the parties with respect to the subject matter hereof, and amends and supersedes any prior understandings and agreements with respect thereto.

(g)

Delivery by Facsimile.  This Agreement, and any amendments hereto, to the extent signed and delivered by means of a facsimile machine, shall be treated in all manner and respects as an original contract and shall be considered to have the same binding legal effects as if it were the original signed version thereof delivered in person. At the request of any party hereto, each other party hereto shall re-execute original forms thereof and deliver them to all other parties. No party hereto shall raise the use of a facsimile machine to deliver a signature or the fact that this Agreement or any signature was transmitted or communicated through the use of facsimile machine as a defense to the formation of a contract and each such party forever waives any such defense.

(h)

Severability.  The parties agree that (i) the provisions of this Agreement shall be severable in the event that for any reason whatsoever any of the provisions hereof are invalid, void or otherwise unenforceable, (ii) such invalid, void or otherwise unenforceable provisions shall be automatically replaced by other provisions which are as similar as possible in terms to such invalid, void or otherwise unenforceable provisions but are valid and enforceable and (iii) the remaining provisions shall remain enforceable to the fullest extent permitted by law.

(i)

Expenses.  The Company shall be solely responsible for providing remuneration to the Escrow Agent in consideration of it acting as escrow agent pursuant to this Agreement.

(j)

Termination.  This Agreement shall continue in force until the Escrow Agent’s final distribution of subscription funds hereunder.

IN WITNESS WHEREOF, the parties have executed this Escrow Agreement on the date first written above.

COMPANY:                            

          

Elderwatch, Inc.

/s/ Alan Weiss 

President

__________________________

        

Authorized Signatory

ESCROW AGENT:

Joseph I. Emas

/s/ Joseph I. Emas

________________________

Joseph I. Emas, Esq.

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