Amendment Number 1 (this "Amendment") dated
October 14, 2009 to License Agreement (the "License Agreement")
made as of October 14, 2009 by and between Global Resource
Corporation as Licensor (hereinafter called "Licensor"), a Nevada
corporation having a principal place of business at 1000 Atrium
Way, Suite 100, Mount Laurel, New Jersey 08054 and Universal
Alternative Fuels, Inc., as Licensee (hereinafter called
"Licensee"), a Nevada corporation having a principal place of
business at 1400 Old Country Road, Suite 206, Westbury, NY
11590.
RECITALS:
A. Licensor
and Licensee have entered into the License Agreement. The Licensor
and Licensee also have entered into the security agreement dated as
of October 14, 2009 (the "Security Agreement") and the Purchase
Order dated as of October 14, 2009 (the "Purchase
Order").
B. The
parties desire to amend the License Agreement, the Security
Agreement and the Purchase Order (together the "Agreements") in the
manner specified in this Amendment.
C. Capitalized
terms not otherwise defined in this Amendment shall have the
meanings ascribed to them in the respective agreements in which
they appear.
NOW, THEREFORE,
in consideration of the foregoing recitals, and for other good
and