AMENDMENT TO AGREEMENT
This Amendment is made effective the 31st day of January, 1996, and
amends the Amendment to Agreement entered into among XXX Xxxxxxxxxxx,
now known as AT&T Global Information Systems (AT&T), and MicroEnergy,
Inc. (MEI), Xxxxx and Xxxxxxx on October 22, 1992.
WHEREAS, AT&T and MEI have also agreed on terms to extend the time
for repayment of MEI's debt to AT&T; (1) evidenced by the Promissory
Notes dated September 28, 1992; (2) evidenced by the Promissory Notes
dated July 1, 1991 delivered in conjunction with the Asset Purchase
Agreement; and (3) arising under the Asset Purchase Agreement for an
adjustment to the price paid by MEI to AT&T for inventory
(collectively the "Notes').
Whereas, AT&T and MEI agree that the outstanding balance owed to AT&T
for the Notes by MEI as of December 15, 1995, the effective date of
this amendment, is $2,332,495.
It is THEREFORE agreed by AT&T and MEI:
1. Full payment of Notes.
a. MEI is to pay to AT&T within 120 days of the effective date
of this agreement, $1,332,000.00 in full and final payment for all
Notes owed to AT&T.
b. If MEI fails to make payment by April 15, 1996, the following
payment by the noted date will be required to make full and final
payment:
if paid by amount
April 30, 1996 $1,336,000.00
May 15, 1996 1,340,000.00
May 30, 1996 1,344,000.00
c. AT&T will release all liens and xxxx said Notes paid upon
verified receipt of the funds.
2. October 22, 1992 Amendment to Agreement remains in effect.
Except as stated in this Amendment, the terms of the October 22, 1992
Agreement remain in full force and effect.
3. September 20, 1994 Amendment to Agreement remains in effect.
Except as stated in this Amendment, the terms of the September 20,
1994 Amendment to Agreement remain in full force and effect.
4. If payment is not made by MEI per this Amendment to Agreement,
then payments due under the prior agreements will be paid current and
payments will resume under the terms of the Amendment to Agreement
dated September 20, 1994.
5. This amendment supersedes all discussions, correspondence and
representations, and constitutes the entire agreement, associated
with its subject matter.
IN WITNESS WHEREOF, the parties have signed this Amendment as of the
date shown below.
Micro Energy, Inc. AT&T Global Information
Solutions Company
By: By:
Its: Its:
Date: Date:
Xxxxxx X. Xxxxx
Date:
Xxxxxx X. Xxxxxxx
Date:
