1
Exhibit 10.1.11.1
AMENDMENT TO PROMISSORY NOTE
This Amendment to Promissory Note (this "Amendment") is made and
effective as of May 7, 1999, by and between Xxxxx X. Xxxxxx, Xx. ("Maker") and
Aironet Wireless Communications, Inc. ("Payee").
BACKGROUND
A. Maker borrowed $372,000 from Payee (the "Loan"), and used the
proceeds of the Loan to purchase 200,000 shares of Payee's common stock (the
"Shares"), on the exercise of stock options (the "Options").
B. The Loan is evidenced by the Promissory Noted dated February 6,
1998, which is non-recourse to Maker and secured by the Shares.
C. Pursuant to generally accepted accounting principals, the Options
are treated as variable options based on the terms and conditions of the
Original Note.
D. Maker and Payee each desire to amend the Original Note in order to
eliminate the variable treatment of the Options.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Maker and Payee agree as follows:
1. The section of the Original Note titled `Voluntary Prepayments" is
hereby deleted in its entirety, and neither the principal due under the Original
Note nor the interest accrued thereon may be paid, in whole or part, prior to
the maturity of the Original Note.
2. All other terms and conditions of the Original Note shall continue
in full force and effect.
3. This Amendment and the Original Note form a single integrated
instrument.
IN WITNESS WHEREOF, Maker has executed, and Payee has caused its duly
authorized officer to execute, this Amendment on the date first set forth above.
PAYEE: MAKER:
Aironet Wireless Communications, Inc.
By: /s/ Xxxxxxx X. Xxxxxx /s/ Xxxxx X. Xxxxxx, Xx.
---------------------------- -----------------------------
Xxxxx X. Xxxxxx, Xx.
Its: Senior V.P and Chief Financial Officer
---------------------------------------
