Document:

EX-10.5

AMENDMENT TO RECEIVABLES PURCHASE AGREEMENT

AMENDMENT TO RECEIVABLES PURCHASE AGREEMENT (this “Amendment”) dated as of June 6,
2006, among Ferro Finance Corporation (the “Seller”), CAFCO, LLC (the “Investor”),
Ferro Electronic Materials, Inc., as an originator, Ferro Corporation, as an originator (together
with Ferro Electronic Materials, Inc., the “Originators”) and as collection agent, and
Citicorp North America, Inc., as agent (in such capacity, the “Agent”).

PRELIMINARY STATEMENTS.

(1) The Originators, the Collection Agent, the Seller, the Investor and the Agent are parties
to a Receivables Purchase Agreement dated as of September 28, 2000, as heretofore amended (the
“Agreement”). Capitalized terms not defined herein are used as defined in the Agreement.

(2) The parties desire to amend the definition of “Facility Termination Date” set forth in the
Agreement.

NOW, THEREFORE, the parties hereto hereby agree as follows:

SECTION 1. Amendment to Agreement. Upon effectiveness of this Amendment as provided
in Section 2 below, the definition of “Facility Termination Date” in Section 1.01 of the Agreement
is hereby amended by replacing the date “June 29, 2006” therein with the date “June 5, 2007”.

SECTION 2. Effectiveness. This Amendment shall become effective at such time that:
(i) executed counterparts of this Amendment have been delivered by each party hereto to the other
parties hereto and (ii) a letter agreement amending and restating in its entirety that certain Fee
Agreement, dated as of June 30, 2005, between Seller and Agent, in form and substance satisfactory
to the Agent, shall have become effective.

SECTION 3. Representations and Warranties. Each of the Seller and the Collection
Agent makes each of the representations and warranties contained in Sections 4.01 and 4.02,
respectively, of the Agreement (after giving effect to this Amendment), and for the purpose of
making such representations and warranties, (i) each reference in Section 4.01 to “the Transaction
Documents” shall include this Amendment and (ii) each reference in Section 4.02 to “this Agreement”
shall be deemed to be a reference to both the Agreement and this Amendment.

SECTION 4. Confirmation of Agreement. Each reference in the Agreement to “this
Agreement” or “the Agreement” shall mean the Agreement as amended by this Amendment, and as
hereafter amended or restated. Except as herein expressly amended, the Agreement is ratified and
confirmed in all respects and shall remain in full force and effect in accordance with its terms.

SECTION 5. Confirmation of Undertaking Agreement. Ferro Corporation confirms and
agrees that, notwithstanding the effectiveness of this Amendment, the Undertaking Agreement
heretofore executed and delivered by it is, and shall continue to be, in full force and effect, and
the Undertaking Agreement is hereby ratified and confirmed.

SECTION 6. Costs and Expenses. The Seller agrees to pay on demand all reasonable
costs and expenses in connection with the preparation, execution, delivery and administration of
this Amendment and any other documents to be delivered hereunder including, without limitation, the
reasonable fees and out-of-pocket expenses of counsel for the Agent and the Investors with respect
thereto and with respect to advising the Agent and the Investors as to the rights and remedies of
each under this Amendment, and all reasonable costs and expenses, if any (including reasonable
counsel fees and expenses), in connection with the enforcement of this Amendment and any other
documents to be delivered hereunder.

SECTION 7. Execution in Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement. Delivery of an executed counterpart of a signature page to
this Amendment by facsimile shall be effective as delivery of a manually executed counterpart of
this Amendment.

SECTION 8. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAW
PRINCIPLES THEREOF).

[Remainder of this page intentionally left blank]

1

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective
officers thereunto duly authorized, as of the date first above written.

	 
	 

	FERRO CORPORATION

By:

	 

	Name:

	Title:

	 

	FERRO ELECTRONIC MATERIALS, INC.

By:

	 

	Name:

	Title:

	 

	FERRO FINANCE CORPORATION

By:

	 

	Name:

	Title:

	 

	CAFCO, LLC

By: Citicorp North America, Inc.,

as Attorney-in-Fact

By:

	 

	Name: Junette M. Earl

Title: Vice President

	 

	CITICORP NORTH AMERICA, INC., as Agent

By:

	 

	Name: Junette M. Earl

Title: Vice President

	 

2EX-10.1

Confidential

May 25, 2006

Board of Directors of Securac Corp.

2500, 520 — 5th Avenue S.W.,

Calgary, AB T2P 3R7

RE: Acquisition of Securac Corp.

Ladies and Gentlemen:

This will confirm our understanding concerning a proposed transaction (the
“Transaction”), pursuant to which Edentify, Inc., a Nevada public corporation
(“Purchaser”), will acquire a 100% interest in Securac Corp., a Nevada public corporation
(“Seller”), on the terms and subject to the conditions set forth in the attached term sheet
(the “Term Sheet”). This letter of intent (this “Letter”), together with the Term
Sheet, does not contain all matters upon which agreement must be reached in order for the
Transaction to be consummated and is intended solely as an outline of certain material provisions.
In addition, the exact method by which the Transaction will be effected is to be determined only
after Purchaser has completed its due diligence and the parties have determined which method will
provide them with the most beneficial economic, tax and accounting results. In order to induce us
to expend the time and incur the costs and expenses to conduct due diligence and to negotiate and
document the definitive terms and conditions of the Transaction, we require that you agree to
provide us with a period of exclusivity, and that we agree on certain other matters, as set forth
in this Letter.

1. Effective Date; Termination. This Letter shall be effective during the term (the
“Term”) (a) commencing on the earlier to occur of (i) the date when the board of directors
of both Purchase and Seller have formally authorized the entry into this Letter and (ii) June 6,
2006 and (b) terminating on the earlier to occur of (i) the execution and delivery of a definitive
agreement regarding the Transaction (the “Definitive Agreement”) and (ii) 5:00 p.m.
Eastern Standard Time on August 31, 2006, unless extended by mutual written agreement of the
parties.

2. Exclusive Negotiations.

(a) During the Term, Seller will, and will cause each of its subsidiaries, and all of the
respective directors, officers, employees, representatives and agents of Seller and each of its
subsidiaries to, immediately cease and cause to be terminated any existing activities, discussions
or negotiations with any parties conducted heretofore in respect to any merger, sale of assets
(other than in the ordinary course of business consistent with past practice) or equity interests
or other business combination involving Seller or any division thereof (an “Acquisition
Transaction”).

(b) During the Term, Seller shall not, and shall not permit any of its subsidiaries, or any
of the respective directors, officers, employees, representatives or agents of Seller or any of
its subsidiaries to, directly or indirectly, (x) encourage, solicit or initiate discussions or
negotiations with, or provide any nonpublic information to, any person, other than
Purchaser or any group in which Purchaser or its affiliates participates, concerning an
Acquisition Transaction, or (y) otherwise solicit, initiate or encourage inquiries or the
submission of any proposal contemplating an Acquisition Transaction.

(c) Seller will promptly communicate to Purchaser the terms of any inquiry or proposal which
it may receive in respect of an Acquisition Transaction. Seller’s notification under this Section
2(c) shall include the identity of the person making such proposal and any other such information
with respect, thereto as Purchaser may reasonably request.

3. Expenses.

(a) Seller and Purchaser will bear their own expenses in connection with the transaction
contemplated herein.

(b) In the event that prior to the expiration of the Term, (i) the Definitive Agreement is
not executed and delivered (other than as a result of action or inaction of the Purchaser) and
Seller materially breached its obligations to Purchaser under this Letter, or (ii) Seller notifies
Purchaser that Seller is no longer willing to pursue a transaction with Purchaser on substantially
the same terms and conditions as described in the final term sheet initialed by the parties and to
be appended to this Letter, then Seller shall pay Purchaser liquidated damages in the amount of
$50,000, plus all reasonable costs and expenses incurred or paid by Purchaser, including the
expenses of its outside advisors.

4. Conduct of Business. During the Term:

(a) Seller will conduct its business only in the normal and ordinary course
pending execution and delivery of the Definitive Agreement;

(b) Except upon giving ten (10) days advance written notice to Edentify, Seller
will not issue or sell, agree to issue or sell or authorize the issuance or sale of
any shares of its capital stock or other securities exchangeable for or convertible
into shares of its capital stock or grant any warrants, options, rights, calls or
other commitments of any nature to acquire any shares of its capital stock;

(c) Seller will promptly notify Purchaser of the commencement or threat of any
litigation or other event or circumstance which might reasonably be expected to have
a material adverse effect upon the assets or the business of Seller or the ability
of Seller to execute and deliver the Definitive Agreement or to consummate the
Transaction.

In the event that Seller does not provide to Edentify any notice required pursuant to this
paragraph, such failure shall be deemed a material breach of this Letter.

5. Publicity. Each party agrees that it will not, and will not permit any of its
affiliates to, issue any reports, statements or releases pertaining to this Letter or any term
sheet and the implementation thereof without the prior written consent of the other party except
where such disclosure is required in the opinion of that party’s securities counsel to comply with
the disclosure requirements of the U.S. Securities and Exchange Commission, in which case,
however, the disclosing party will consult with the other party to reach a mutually agreeable
disclosure, provided that agreement on such disclosure does not cause either party to be untimely
in its disclosure obligations under the Securities Exchange Act of 1934, as amended or the
regulations thereunder.

6. Brokers’ or Finders’ Fees. Seller will indemnify and hold Purchaser harmless from
any claim for brokers’ or finders’ fees arising out of the transactions contemplated herein by any
person claiming to have been engaged by Seller or any of its affiliates. Purchaser will indemnify
and hold Seller harmless from any claim for brokers’ or finders’ fees arising out of the
transactions contemplated herein by any person claiming to have been engaged by Purchaser or any
of its affiliates.

7. Legal Effect. Except with respect to Section 2 and to the extent provided in the
last sentence of this Section 7, this Letter is not intended to be binding upon the parties hereto
or to create any legal or equitable obligations or rights, including, without limitation, an
agreement to enter into an agreement. This Letter, together with the enclosed term sheet, is
intended to be, and shall be construed as, only a summary and evidence of the discussions between
Purchaser and Seller to the date hereof and an agreement with respect to the conduct of each party
prior to the execution and delivery of the Definitive Agreement or the termination of discussions
regarding the Transaction, and not as an offer to purchase or sell the assets or the business of
Seller or the stock of Seller or an agreement with regard thereto. Without limiting the
generality of the foregoing, it is the parties’ intent that, until the execution and delivery of
the Definite Agreement, no agreement binding on the parties shall exist with respect to the
Transaction and there shall be no obligations whatsoever based on such things as parol evidence,
extended negotiations, “handshakes,” oral understandings, or courses of conduct (including
reliance and changes of position). Efforts by either party to complete due diligence, negotiate,
obtain financing or prepare a contract shall not be considered as evidence of intent by either
party to be bound by a term sheet or otherwise. The respective rights and obligations of
Purchaser and Seller remain to be defined in the Definitive Agreement, into which this Letter,
together with the enclosed term sheet or any revised term sheet, and all prior discussions shall
merge; provided, however, that the obligations of Purchaser and Seller under
Sections 2 through 6, inclusive, hereof shall be binding upon each party during the Term;
provided, further, however, that upon termination of the Term neither
party shall have any obligations to the other party except as set forth in Sections 3, 5 and 6
hereof and in the Confidentiality Agreement between Purchaser and Seller dated February 22, 2006.

If this Letter accurately reflects our understanding, please so indicate by signing the
original and duplicate of this Letter, and returning a fully executed copy to us. If we do not
receive a fully executed copy of this Letter by 5:00 p.m. Eastern Standard Time on May 25, 2006,
this Letter, together with the enclosed term sheet, shall be deemed withdrawn.

Very truly yours,

Edentify, Inc.

	 	 	 	By:
/s/ Terrence DeFranco

	 	 	Name: Terrence De Franco

Title: Chief Executive Officer

Accepted and agreed to as

date first written above.

Securac Corp.

	 	 	By: /s/ Terry Allen

	 	 	Name: Terry Allen

Title            Chief Executive Officer

1

Edentify, Inc.

Acquisition of Securac Corp.

Term Sheet (the “Term Sheet”)

	 	 	 
	Acquiror:

	 	Edentify, Inc., a publicly traded Nevada corporation (“Edentify”).
	 
	 	 
	Target:

	 	Securac Corp., a publicly-traded Nevada corporation (“Securac”).
	 
	 	 
	Transaction:

	 	7.01 Edentify shall acquire, through a share exchange,

all of the outstanding capital stock of Securac on a

fully-diluted, as converted basis, such that following the

Acquisition, Securac will be a wholly-owned subsidiary of

Edentify, such acquisition being referred to hereinafter as the

“Acquisition.” The parties intend the Acquisition to be a tax

free reorganization within the meaning of IRC §368.

In the event that that parties determine within 30 days after the

execution of this LOI and Term Sheet and can consummate the

Acquisition by the Termination Date (as stated in the LOI to

which this Term Sheet is attached) more efficiently and

effectively as an acquisition of substantially all the assets of

Securac, the parties shall pursue the transaction in that form,

if reasonable under the circumstances. The Consideration and

such other applicable terms stated in this Term Sheet may be

adjusted accordingly.

7.02
	 
	 	 
	Consideration:

	 	5,000,000 shares of common stock of Edentify (“Stock

Consideration”). Edentify reserves the right to adjust such

consideration based on notification of materially adverse events.
	 
	 	 
	Anticipated Closing:

	 	Immediately upon declaration of effectiveness of registration

statement registering Stock Consideration and satisfaction of

other conditions to Closing set forth below.
	 
	 	 
	Conditions to Closing:

	 	1) Completion of due diligence to satisfaction of Edentify and

Securac;

2) The execution of definitive agreements regarding the

Acquisition by Edentify and Securac;

3) In the event the parties pursue an acquisition of

substantially all the assets of Securac, Securac shall have

obtain forbearance letters (in substantially the form attached to

this Term Sheet) for each creditor (as of the date hereof) that

exceeds $25,000 on terms satisfactory to Edentify prior to

execution of Definitive Agreement;

4) A declaration of effectiveness by the U.S. Securities Exchange

Commission (the “SEC”) for the registration statement filed by

Edentify registering the Stock Consideration;

5) The Board of Securac will formally appoint an Edentify nominee

to the Board of Directors of Securac, and two members of the

Securac Board will have resigned from the Board and/or as

principal officers of Securac effective Closing. At least

10-days prior to the Closing, Securac shall have filed a notice

of change of control of the Board on Schedule 14F pursuant to SEC

rules and regulations.

6) Within the time prescribed by SEC rules and regulations and

within time sufficient to permit Closing to occur as contemplated

in the definitive agreement for the Acquisition, Securac shall

have filed an Information Statement on Schedule 14C, notifying

the public shareholders of the vote by the registered

shareholders of Securac to approve the Acquisition and the SEC

shall have stated no objection to same.

7) Securac shall have secured the assignment/consent of all

material contracts that would, by their terms and as a result of

the Acquisition, be terminated, unless otherwise omitted by

written agreement of Edentify.

8) Edentify shall contribute/invest not less than $2,500,000 in

working capital to Securac, provided, however, that such funds

shall be designated solely for working capital and debt reduction

as and other operating purposes further defined in a detailed use

of proceeds and shall not be available for distribution to the

shareholders of Securac.
	 
	 	 
	
 
	 	9) Securac shall not have incurred any obligations between the

execution of this LOI/Term Sheet and the Closing Date that are

not in the ordinary course of business.

10) The parties shall have obtained all required approval from

their respective shareholders and boards of directors.
	 
	 	 

2

	 	 	 
	 
	 	 
	Escrow:

	 	[RESERVED]
	 
	 	 
	Lock-Up Agreement:

	 	Effective on or before the Closing, the principal stockholders

(holding securities that entitle same to, upon any exercise or

conversion, to an excess of 5% of the outstanding common stock of

Securac), directors, executive officers of Securac will agree not

to offer, pledge, sell, transfer or otherwise dispose of (or

agree to do any of the foregoing) any interest in any Stock

Consideration (or securities exercisable or convertible into

Common Stock of Edentify) until one year following Closing and

thereafter, to limit the transfer or other disposal of the Stock

Consideration to 25% per quarter of the pro-rata amount of the

Stock Consideration received by each Principal.
	 
	 	 
	Taxes:

	 	This transaction is intended by the parties to be a tax-free

reorganization pursuant to IRC Section 368(a)(1)(B).
	 
	 	 
	Disclaimers:

	 	1. The terms set forth herein are non-binding and subject to and

superseded by the terms and conditions set forth in the

definitive transaction documents.

2. THIS TERM SHEET IS NOT AN OFFER TO SELL SECURITIES AND

THE TERMS SUMMARIZED ABOVE ARE QUALIFIED IN THEIR ENTIRETY BY THE

MORE DETAILED DESCRIPTIONS CONTAINED IN THE DEFINITIVE DOCUMENTS

REGARDING THIS ACQUISITION. EACH ACQUIROR OF EDENTIFY COMMON

STOCK WILL BE REQUIRED TO ENTER INTO A FORMAL SUBSCRIPTION

AGREEMENT WHICH WILL INCLUDE REPRESENTATIONS AND WARRANTIES AS TO

EACH ACQUIROR’S ELIGIBILITY AS AN ACCREDITED INVESTOR AND OTHER

INVESTOR SUITABILITY REQUIREMENTS. NO SHARES OF COMMON STOCK OF

EDENTIFY WILL BE OFFERED OR SOLD EXCEPT IN COMPLETE COMPLIANCE

WITH THE FOREGOING.
	 
	 	 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}]]