EXHIBIT 10.41
DOVEBID, INC.
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AMENDMENT TO CONVERTIBLE
SUBORDINATED PROMISSORY NOTE
This Amendment is entered into as of March 1, 2001, by and between Xxxxxxx
Xxxxxx ("Payee") and DoveBid, Inc., a Delaware corporation (the "Company"). This
Amendment amends the terms and conditions of that certain Convertible
Subordinated Promissory Note issued by the Company to Payee on March 24, 2000 in
the principal amount of $884,629.87 (the "Note").
Whereas, Payee and the Company desire to amend the Note on the terms and
conditions set forth below;
Now, therefore, in consideration of the foregoing and for other good and
valuable consideration (receipt and sufficiency of which is mutually
acknowledged), the parties agree as follows:
1. Amendment. The Maturity Date, as defined on page 1 of the Note, is
hereby changed from (x) the earlier of (i) the three year anniversary date of
the Note, or (ii) an Event of Default, as defined in Section 1.3 of the Note, to
(y) the earlier of (i) the four year anniversary date of the Note, or (ii) an
Event of Default.
2. Effect of Amendment. This Amendment will be effective as of the date
first set forth above, upon execution of this Amendment by the Company and
Payee. This Amendment may be executed in any number of counterparts, each of
which shall be deemed an original and all of which, taken together, will
constitute one and the same Amendment. Except as expressly provided above, the
terms and conditions of the Note remain in full force and effect, unmodified, as
of the date hereof.
In Witness Whereof, Payee and the Company have executed this Amendment to
Promissory Note by persons duly authorized to do so.
THE COMPANY: DOVEBID, INC. PAYEE: XXXXXXX XXXXXX
By: /s/ Xxxxxxx Xxxxxxxxxx /s/ Xxxxxxx Xxxxxx
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(Signature of Payee)
Title: VP and General Counsel
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