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EXHIBIT 10 s
CHANGE IN TERMS AGREEMENT
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Principal Loan Date Maturity Loan No Call Collateral Account Officer Initials
------------- --------- ---------- ------- ---- ---------- ------- ------- --------
$1,508,500.00 06-08-98 07-26-1999 2218900 500 12 4580 WTF
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References in the shaded area are for Lender's use only and do not limit the applicability of this
document to any particular loan or item.
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Borrower: Global Election Systems, Inc. (TIN: 00-0000000) Lender: WESTERN BANK
0000 Xxxxxxx Xxxx Xxxx
XxXxxxxx, XX 000000000 000 Xxxxxxxxx XX
X X Xxx 00000
Xxxxxxxxxxx, XX 00000
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Principal Amount: $1,508,500.00 Date of Agreement: January 4, 1999
DESCRIPTION OF EXISTING INDEBTEDNESS. Non-Revolving Line of Credit Loan dated
June 8, 1998 in the amount of $2,000,000.00 Rate is WBP+1% with an interest rate
floor of 10.00%, interest and principal due at maturity. Maturity date is
January 4, 1999.
DESCRIPTION OF CHANGE IN TERMS. Extend the maturity date of the note to 203 days
at the rate of WBP+1% with a interest rate floor of 9.00%, interest due
quarterly and principal due at maturity.
CONTINUING VALIDITY. Except as expressly changed by this Agreement, the terms of
the original obligation or obligations, including all agreements evidenced or
securing the obligation(s), remain unchanged and in full force and effect.
Consent by Lender to this Agreement does not waive Lender's right to strict
performance of the obligation(s) as changed, nor obligate Lender to make any
future change in terms. Nothing in this Agreement will constitute a satisfaction
of the obligation(s). It is the intention of Lender to retain as liable parties
all makers and endorsers of the original obligation(s), including accommodation
parties, unless a party is expressly released by Lender in writing. any maker or
endorser, including accommodation makers, will not be released by virtue of this
Agreement. If any person who signed the original obligation does not sign this
Agreement below, then all persons signing below acknowledge that this Agreement
is given conditionally, based on the representation to Lender that the
non-signing party consents to the changes and provisions of this Agreement or
otherwise will not be released by it. This waiver applies not only to any
initial extension, modification or release, but also to all such subsequent
actions.
PRIOR TO SIGNING THIS AGREEMENT, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS
OF THIS AGREEMENT. BORROWER AGREES TO THE TERMS OF THE AGREEMENT AND
ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THE AGREEMENT.
BORROWER:
GLOBAL ELECTION SYSTEMS, INC.
BY: Signed: "XXXXXX X. XXX XXXX"
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XXXXXX X. XXX XXXX
PRESIDENT AND CHIEF EXECUTIVE OFFICER
