EXHIBIT 10.29
SECOND AMENDMENT TO FULL RECOURSE PROMISSORY NOTE
This amendment (the "SECOND AMENDMENT") is made effective the 3rd
day of May, 1999 to that certain Full Recourse Promissory Note between
General Surgical Innovations, Inc. (the "COMPANY") and Xxxxx Xxxxxx (the
"EMPLOYEE") dated May 5, 1994, as amended May 4, 1998 (the "PROMISSORY NOTE").
WHEREAS, the parties hereby desire to amend the Promissory Note to
extend the date on which the principal and interest is due and payable on the
Promissory Note from May 4, 1999 until such date as is specified below;
THEREFORE, for good and valuable consideration, the receipt of which
is hereby acknowledged and agreed, the parties agree to amend the first
paragraph of the Promissory Note to read in its entirety as follows:
"At the times hereinafter stated, for value received, the
undersigned promises to pay to General Surgical Innovations, Inc., a
California corporation, (the "Company"), or order, at its principal office,
the principal sum of $28,000 with interest from the date hereof at a rate of
6.33% per annum, compounded semiannually, on the unpaid balance for such
principal sum. Such principal and interest shall be due and payable on the
earliest of (i) the date on which Employee ceases to be an employee of the
Company, (ii) the date on which such principal and interest is demanded by
the Company, or (iii) May 3rd of 2000."
As amended hereby, all of the terms of the Promissory Note are
reaffirmed in their entirety.
COMPANY
GENERAL SURGICAL INNOVATIONS, INC.
By: /s/ Xxxx Xxx
-------------------------------
Name:
-----------------------------
Title:
----------------------------
EMPLOYEE
/s/ Xxxxx Xxxxxx
----------------------------------
Xxxxx Xxxxxx
