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EXHIBIT 10.20(b)
[BANK OF AMERICA LOGO]
AMENDMENT TO DOCUMENTS
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FIRST AMENDMENT TO BUSINESS LOAN AGREEMENT
This First Amendment to Business Loan Agreement is entered into as of October
1, 1998, between Bank of America National Trust and Savings Association
("Bank") and Ventana Medical Systems, Inc. ("Borrower").
RECITALS
A. WHEREAS, Bank and Borrower have entered into that certain Business Loan
Agreement dated June 9, 1998, (the "Agreement"); and
B. WHEREAS, Borrower and Bank desire to amend certain terms and provisions of
said Agreement as more specifically hereinafter set forth.
AGREED
NOW, THEREFORE, in consideration of the foregoing recitals, Bank and Borrower
mutually agree to amend said Agreement as follows:
1. Paragraph 7.11 (Dividends) of the Agreement, is amended in the entirety to
read as follows:
7.11 DIVIDENDS. Not to declare or pay any dividends on any of its shares
except dividends payable in capital stock of the Borrower. The Borrower not
to purchase, redeem or otherwise acquire for value any of its shares of
common stock currently held in the open market, or create any sinking fund
in relation thereto, in an amount exceeding 750,000 shares of common stock.
This amendment will become effective as of October 1, 1998, the ("Effective
Date"), provided that each of the following conditions precedent have been
satisfied:
The Bank has received from the Borrower's duly executed original of this
Amendment.
Except as provided in this Amendment, all of the terms and provisions of the
Agreement shall remain in full force and effect.
This Amendment shall be effective between the parties as of the date hereof.
The Agreement as amended hereby, shall hereinafter constitute the Agreement
between the parties.
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IN WITNESS WHEREOF, this Amendment has been executed by the parties hereto as of
the date first written above.
BANK OF AMERICA NATIONAL TRUST AND SAVINGS VENTANA MEDICAL SYSTEMS, INC.
ASSOCIATION
/s/ XXXX XXXXXX /s/ XXXXXX XXXX
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By: Xxxx Xxxxxx, Vice President By: Xxxxxx Xxxx, Vice President,
Chief Financial Officer
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