EXHIBIT 10.53
AMENDMENT NO. 1 TO NOTE AND PREFERRED STOCK PURCHASE AGREEMENT
THIS AMENDMENT NO. 1 TO NOTE AND PREFERRED STOCK PURCHASE AGREEMENT
(this "Amendment") is made as of April 29, 2002, by and among EpicEdge, Inc., a
Texas corporation (the "Company"), and Edgewater Private Equity Fund III, L.P.,
a Delaware limited partnership ("Edgewater").
WHEREAS, the Company, Edgewater and certain other parties named therein
entered into that certain Note and Preferred Stock Purchase Agreement dated as
of April 16, 2002 (the "Purchase Agreement");
WHEREAS, pursuant to Section 9.5 of the Purchase Agreement, the
Purchase Agreement may be amended by the Company and the Purchaser Majority (as
defined therein); and
WHEREAS, the Company and the Purchaser Majority wish to amend the
Purchase Agreement pursuant to the terms set forth herein.
NOW, THEREFORE, for and in consideration of the premises and mutual
agreements herein contained and for the purposes of setting forth the terms and
conditions of this Amendment, the parties, intending to be bound, hereby agree
as follows:
1. Incorporation of the Agreement. All capitalized terms which are not
defined hereunder shall have the same meanings as set forth in the Purchase
Agreement. To the extent any terms and provisions of the Purchase Agreement are
inconsistent with the amendments set forth in Paragraph 2 below, such terms and
provisions shall be deemed superseded hereby. Except as specifically set forth
herein, the Purchase Agreement shall remain in full force and effect and its
provisions shall be binding on the parties hereto.
2. Amendments to the Purchase Agreement.
(a) The definition of "Substitute Note," "Substitute Notes," "Note" and
"Notes" in Section 2.2(b) of the Purchase Agreement are amended and restated in
their entirety to read as follows:
"(individually, as may be amended, restated, substituted, replaced or
otherwise modified from time to time, a "Substitute Note" and collectively, as
may be amended, restated, substituted, replaced or otherwise modified from time
to time, the "Substitute Notes"; and, together with the Second Debt Closing
Notes, each, individually, as may be amended, restated, substituted, replaced or
otherwise modified from time to time, a "Note" and collectively, as may be
amended, restated, substituted, replaced or otherwise modified from time to
time, the "Notes")."
(b) Clause (d) of Section 2.3 of the Purchase Agreement is hereby
amended and restated in its entirety to read as follows:
"(d) payment of proceeds invested by any purchaser other than Edgewater
at one or more Subsequent Closings, which proceeds may, at Edgewater's sole
discretion, be used
solely to pay $1,100,000 of the outstanding principal amount of the Substitute
Note issued to Edgewater hereunder ("Edgewater Special Debt"), plus any accrued
interest thereon, until such time as the Edgewater Special Debt, plus accrued
interest thereon, has been paid in full or otherwise converted in accordance
with Section 2.7 hereof, after which time, any remaining proceeds shall be used
for any other purpose set forth in this Section 2.3."
3. Effectuation. The amendments to the Purchase Agreement contemplated
by this Amendment shall be deemed effective immediately upon to full execution
of this Amendment and without any further action required by the parties hereto.
There are no conditions precedent or subsequent to the effectiveness of this
Amendment.
4. Fees and Expenses. The Company agrees to pay on demand all costs and
expenses of or incurred by Edgewater (including, but not limited to, legal fees
and expenses) in connection with the evaluation, negotiation, preparation,
execution and delivery of this Amendment.
5. Counterparts. This Amendment may be executed in two or more
counterparts, each of which shall be deemed an original, and all of which
together shall constitute one and the same instrument. One or more counterparts
of this Amendment may be delivered by facsimile, with the intention that
delivery by such means shall have the same effect as delivery of an original
counterpart thereof.
[SIGNATURE PAGE FOLLOWS]
* * * * *
2
IN WITNESS WHEREOF, the parties have executed this Amendment No. 1 to Note
and Preferred Stock Purchase Agreement as of the date first written above.
EpicEdge, Inc., a Texas corporation
By: /s/ Xxxxxxx Xxxxxx
--------------------
Its: President
Edgewater Private Equity Fund III, L.P., a
Delaware limited partnership
By: Edgewater III Management, L.P.
Its: General Partner
By: Xxxxxx Management, Inc.
Its: General Partner
By: /s/ Xxxx Xxxxxxxxxxx
---------------------
Its: Vice President
