Document:

ex10-2.htm

    
      

    

    Exhibit
      10.2 

    

    MODIFICATION
      OF AGREEMENT

    

    This
      Modification of Agreement (this
“Agreement”) is made as of this 15th day of
      August,
      2007 by and between Biometrics Investors, L.L.C., a Delaware limited liability
      company (“Lender”), and Sequiam Corporation, a California corporation
      (“Borrower”).

    

    WHEREAS,
      Lender and Borrower are
      parties to that certain Agreement dated March 30, 2007 (the “Agreement”)
      pursuant to which Biometrics has agreed to loan Sequiam up to $11,500,000,
      pursuant to which Borrower delivered, among other things, that certain Term
      Note
      A dated March 30, 2007 in the original principal amount of $6,500,000.00 (the
      “Term Note A” and together with all documents entered into in connection
      therewith, the “Financing Documents”);

    

    WHEREAS,
      the holders of all of the
      outstanding membership interests and/or other equity interests of Lender have
      entered into certain transactions on our about the date hereof (collectively,
      the “Transactions”) pursuant to which Crestview Capital Master, LLC, a Delaware
      limited liability company (“Crestview”) has become the sole member of
      Lender;

    

    WHEREAS,
      as a condition to closing on
      the Transactions, Crestview has required that Lender modify the Loan Documents
      to provide that any interest accruing under the Term Note A subsequent to the
      date hereof be abated; and

    

    WHEREAS,
      the parties hereto desire to
      amend the Loan Documents to abate any and all interest accruing under the Term
      Note A from and after the date hereof.

    

    NOW,
      THEREFORE, in consideration of the
      consummation of the Transactions, and for other good and valuable consideration,
      the receipt and sufficiency of which are hereby acknowledged by the parties,
      the
      parties hereto agree as follows:

    

    1.           Amendment.  Section
      3(a) of the Agreement be, and it hereby is amended to read as
      follows:

    

    “(a)           Borrower
      shall pay to Lender interest on the outstanding principal balance of the Loans
      monthly in arrears on the first day of each month beginning on May 1, 2007
      at
      the per annum rate of twelve percent (12%) (the “Base
      Rate”).  Following the occurrence of an Event of Default,
      Borrower shall pay to Lender interest on the outstanding principal balance
      of
      the Loans at the per annum rate of four percent (4%) plus the Base Rate (the
      “Default Rate”).  Notwithstanding anything to the
      contrary contained in this Section 3(a), in no event shall interest accrue
      on
      the indebtedness evidenced by the Term A Loan after August 15, 2007 through
      the
      date of repayment under the terms of the Term A Loan.  Interest shall
      be computed on the basis of a year of three hundred sixty (360) days for the
      actual number of days elapsed.”

    

    2.           Conflict.  Except
      as hereby amended, the Agreement and Loan Documents shall remain unchanged
      and
      in full
      force and effect.  If there
      is any conflict between the terms and provisions of the Agreement or other
      Loan
      Documents and the terms and provisions of this Agreement, this Agreement shall
      control.

    

    3.           Counterparts.  This
      Agreement may be executed in any number of identical counterparts, any or all
      of
      which may contain signatures of less than all of the parties, and all of which
      shall be construed together as a single instrument.

               IN
      WITNESS WHEREOF, the parties hereto have each executed
      this Agreement to be effective for all purposes as of the date first written
      above.

    

    

    BORROWER:

    

    SEQUIAM
      CORPORATION,

      a
      California corporation

    

    

    By:                                                      

    Name:

    Title:

    

    

    

    BIOMETRICS
      INVESTORS, L.L.C.,

    

    

    By:                                                      

    Name:

    Title:ex10-3.htm

    
      

    

    Exhibit
      10.3 

    

    MODIFICATION
      AGREEMENT

    

    

    The
      undersigned hereby agree to delete
      the requirement for bank account control agreements set forth in Section 5(a)
      of
      that certain Agreement (the “Agreement”) dated as of the 30th day of
      March, 2007
      between SEQUIAM CORPORATION, a California corporation and BIOMETRICS INVESTORS,
      L.L.C., a Delaware limited liability company.  Capitalized terms used
      but not defined herein shall have the meanings ascribed to such terms in the
      Agreement.  Except for the foregoing extension, nothing herein shall
      be deemed to waive, amend or modify any provision of the Agreement.

    

    

    

    Dated:  August
      15, 2007

    

    SEQUIAM
      CORPORATION

    

    

    By:                                                                           

    Its:

    

    

    BIOMETRICS
      INVESTORS, L.L.C.

    

    By:                                                                           

    Name:

    Title:ex10-1.htm

    
      

    

    Exhibit
      10.1

    FIRST
      LEASE AMENDMENT

    

               This
      Amendment is made and entered into this 16 day of August, 2007 by and between
      EastGroup Properties, L.P. (Lessor) and Sequiam Sports Inc.
      (Lessee).

    

    WHEREAS,
      Lessor and
      Lessee, are parties to a Lease Agreement made  April 29, 2004, for
      the demise of 24,085 square feet of space (the "Original Space") located at
      300
      Sunport Lane, Suite 100-A, Orlando, FL 32809, and

    

    WHEREAS,
      Lessee now
      wishes to contract its currently leased premises (“Existing Space”) from
24,085 square feet to 12,934 square feet and extend the term of
      the current lease and Lessor agrees to the contraction and extension and to
      evidence and set forth their agreement as to the terms and conditions of the
      contraction and extension.

    

    NOW,
      THEREFORE, for
      and in consideration of the mutual advantages arising hereunder and other good
      and valuable considerations, Lessor and Lessee hereby agree to hereby amend
      said
      Lease as follows:

    

    
      	
              1.  

            	
              Space
                Contraction.  The Lessee agrees to contract its leased
                premises by 11,151 square feet (“Contraction Space”), which results in an
                decreased Leased Premises size of 12,934 square feet ("Amended Leased
                Premises"), as shown on the plan attached hereto as "Exhibit “A",
                effective November 1, 2007, and the revised prorata share be 21.48%
                of the
                total leasable area within the 60,214 square foot
                building.

            

    

    

    
      	
              2.  

            	
              Term
                Extension.  The term of the Lease shall be extended for a
                period of twenty-eight (28) months, July 1, 2010 through October
                31,
                2012.

            

    

    

    
      	
              3.  

            	
              Rental.  As
                Total Rental for the use and occupancy of the Amended Leased Premises,
                Lessee shall pay to Lessor, beginning November 1, 2007, in lawful
                money of
                The United States of America, per the Rent Schedule below, plus Operating
                Expenses and Florida State sales tax, in advance on the first day
                of each
                and every month during said Lease Term, and all other sums anticipated
                to
                come due under this Lease, if any.

            

    

     

    RENT
      SCHEDULE*

     

    
      	
              Term

            	
              PSF

            	
              Monthly*

            
	
              11/1/07
                - 10/31/08

            	
              8.7500

            	
              $9,431.04

            
	
              11/1/08
                - 10/31/09

            	
              9.1000

            	
              $9,808.28

            
	
              11/1/09
                - 10/31/10

            	
              9.4640

            	
              $10,200.61

            
	
              11/1/10
                - 10/31/11

            	
              9.8426

            	
              $10,608.64

            
	
              11/1/11
                - 10/31/12

            	
              10.2363

            	
              $11,032.98

            

    

    *
      Plus Building Operating Expenses and Florida State Sales Tax (Currently
      6.5%)

    

    
      	
              4.  

            	
              Tenant
                Improvements.  Lessor shall perform and be responsible for
                the cost of all construction in Lessee’s leased premises to accommodate
                this contraction of space per the space plan attached as Exhibit
“A” and
                the scope of work attached as Exhibit
“B”.

            

    

    

    
      	
              5.  

            	
              Promissory
                Note.  Lessee has previously executed and delivered in favor
                of Lessor that certain Promissory Note (the “Promissory Note”) dated July
                1, 2004 in the amount of $1,600.000.00, the current balance of which
                is
                $1,489,283.00. Lessor shall reduce the total amount of Lessee’s Promissory
                Note to $275,000.00 and Lessee shall pay this amount to Lessor on
                or
                before November 1, 2007.  If such sums are timely paid in full
                on or before said date, Lessor agrees to forgive any other sums due
                under
                the Promissory Note.

            

    

    

    Absent
      the timely payment of said $275,000.00, no forgiveness shall occur and monthly
      payments of combined principal and interest shall be due and payable beginning
      November 1, 2007 and continuing on the first day of each successive month
      thereafter in the amount of $6,071.02 until the Promissory Note has been paid
      in
      full.  This amount is derived from the difference of Lessee’s current
      rental amount ($17,596.03) and the new rental amount
      ($11,525.01).  Under all circumstances, all sums due and payable under
      the Promissory Note shall be due and payable in full on May 1,
      2027.

    

    It
      is
      understood and agreed that any default under the terms of the Promissory Note
      (as amended hereby) shall automatically constitute a default under the Lease
      Agreement.  Likewise, any default under the terms of the Lease shall
      automatically constitute a default under the Promissory Note.  The
      terms of this section shall be deemed to constitute and amendment of and to
      any
      contrary provisions of the Promissory Note but shall not serve to waive any
      provisions in the Promissory Note allowing for collection of default rates
      of
      interest, attorney’s fees and court costs, or any other sums due
      thereunder.

    

    
      	
               

            	
              6.

            	
              Lease
                Contingency.  This First Lease Amendment shall be contingent
                upon Control Center executing and fulfilling (i.e. with no termination)
                a
                lease agreement for the Contraction Space.  Should the agreement
                with Control Center be terminated per terms of their agreement with
                Lessor, this First Lease Amendment shall be null and
                void.  Lessee acknowledges and agrees that it shall have no
                claims against Lessor or any other parties as a result of any business
                interruption or dispossession resulting from the construction of
                a new
                separation wall between the respective
                spaces.

            

    

    

    Provisions
      of this First Lease Amendment shall become effective as of the date first
      written above.  All other terms and provisions of the original Lease
      Agreement remain in full force and effect.

     

    Signed,
      sealed and delivered in the presence of:

     

    LESSOR

     

    Witness                                                                           EastGroup
      Properties, L.P.

    

    By:                                                      

    

    Print
      Name:                                                      Name:

    

    Title:                                                      

    

    Print
      Name:                                                      

    

    LESSEE

    Witness                                                                                     Sequiam
      Sports, Inc.

    

    By:                                                      

    

    Print
      Name:                                                      Name:

    

    Title:                                                      

    

    Print
      Name:                                                      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      “A”

    SPACE
      PLAN

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      “B”

    SCOPE
      OF
      WORK

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}]]