AMENDMENT
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RESTRUCTURING, SETTLEMENT AND MUTUAL RELEASE AGREEMENT
This Amendment to the Restructuring, Settlement and Mutual Release
Agreement (this "Agreement") is entered into as of November 24, 1998 by and
among Microelectronic Packaging, Inc. ("MPI"), on behalf of itself and its
predecessors, successors, former or current subsidiaries, affiliates, officers,
directors, shareholders, agents, attorneys, representatives, insurers, employees
and assigns (other than Microelectronic Packaging (S) Pte. Ltd. and MPM (S) Pte.
Ltd., both of which are subsidiaries of MPI that are currently in liquidation)
(collectively with MPI, the "MPI Releasees"), and The Development Bank of
Singapore Limited ("DBS") and its predecessors, successors, subsidiaries,
affiliates, officers, directors, stockholders, agents, attorneys,
representatives, insurers, employees and assigns (collectively with DBS, the
"DBS Releasees").
RECITALS
A. MPI and DBS entered into the Agreement as of July 20, 1998 pursuant to
which MPI and DBS agreed to settle and restructure certain obligations of MPI
whereby, among other things, MPI agreed to pay to DBS the amount of US
$1,177,397.20 within six (6) calendar months of the Execution Date ("Payment
Deadline").
B. Pursuant to Section 6.h. of the Agreement, the parties now desire to
amend the Agreement to extend the period of time within which MPI is obligated
to pay to DBS the amounts required under the Agreement.
NOW, THEREFORE, in consideration of the mutual promises contained herein
and for other good and sufficient consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties agree as follows:
1. Section 2.a.i below shall amend, replace and supersede section 2.a.i of
the Agreement:
2.a.i. MPI agrees that by no later than May 1, 1999 ("Payment
Deadline"), MPI will pay to DBS the amount of US $1,177,397.20
(exclusive of any wire transfer charges) by wire transfer in accordance
with the wire transfer instructions provided by DBS. Any and all wire
transfer charges incurred in connection with the payment required under
this paragraph shall be borne solely by MPI.
Upon acceptance of the parties, this Amendment, as of the day and year
specified on page one hereof, shall become a part of the Agreement and all
provisions of the Agreement not specifically inconsistent herewith shall remain
in full force and effect.
MICROELECTRONIC PACKAGING, INC.
By: /s/ XXXXX X. XXXXXXXXXX
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Xxxxx X. Xxxxxxxxxx
Senior Vice President
Chief Financial Officer
THE DEVELOPMENT BANK OF SINGAPORE LIMITED
By: /s/ XXXX XXXX HONG
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Xx. Xxxx Xxxx Hong
Senior Vice President
