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Exhibit 10.11
SECOND AMENDMENT TO PROMISSORY NOTE DATED FEBRUARY 1, 1991
THIS AMENDMENT (the "Amendment"), dated as of December 20, 1996, by
and between Legacy Software, Inc., a Delaware corporation ("Borrower"), and
Xxxxxxx Xxxxxxxxx to that certain Promissory Note, dated as of February 1,
1991, by Borrower in favor of Lender, as amended by the Addendum dated March 1,
1995 and the Amendment dated November 10, 1995, (the "Note").
R E C I T A L
A. Lender has made certain loans under the note to Borrower.
B. Subject to the terms and conditions contained herein, the
parties desire to amend the Note to extend the commencement date of repayment
of the principal to March 31, 1998.
C. Except as otherwise provided herein, all capitalized terms
used in the Amendment shall have the meanings set forth in the Note (after
giving effect to this Amendment).
NOW, THEREFORE, for good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the parties hereto agree
as follows:
1. Sections 1 and 2 of the Note are hereby amended so that all
references to "July 1, 1996" shall be deleted and replaced with March 31, 1998.
2. There are no other amendments, changes or modifications to the
Note and all other sections thereof shall remain unaffected by this Amendment.
IN WITNESS WHEREOF, the parties hereto have executed this
Amendment as of the date first written above.
LEGACY SOFTWARE, INC.,
a Delaware corporation
By: /s/ Xxxxxxx Xxxxxx
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Name: Xxxxxxx Xxxxxx
Title: President
AGREED TO AND ACCEPTED
BY "LENDER":
/s/ Xxxxxxx Xxxxxxxxx
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Xxxxxxx Xxxxxxxxx
