AMENDMENT NO. 1 TO PLEDGE AND SECURITY AGREEMENT, dated as of September
1, 2000 (this "Amendment"), to that certain Pledge and Security Agreement,
dated as of June 11, 1999 (the "Original Agreement"), made by Xxxxxx, Inc., a
Colorado corporation (the "Pledgor"), in favor of Xxxxx Fargo Bank, National
Association (the "Secured Party").
The Pledgor has caused to be formed a new corporation, Xxxxxx Technical
Services, Inc., a Delaware corporation ("HTS"), which is a wholly owned
subsidiary of the Pledgor. In consideration of the Secured Party entering into a
Waiver and Amendment No. 2 to Credit Agreement, dated as of September 1, 2000,
to that certain Credit Agreement, dated as of June 11, 1999, among the Pledgor,
Zuellig Botanical Extracts, Inc., ZetaPharm Inc., Xxxxxx Drug Company, Inc.,
Xxxxxxx Laboratories Inc. and Secured Party, and pursuant to the terms of the
Original Agreement, the Pledgor and the Secured Party hereby agree to amend
Schedule I to the Original Agreement to include thereon the pledge by Pledgor of
10,000 shares of common stock of HTS owned by the Pledgor, said shares
representing 100% of the issued and outstanding shares of HTS.
Except as specifically provided herein, all terms and conditions of the
Original Agreement remain in full force and effect, without waiver or
modification. This Amendment and the Original Agreement shall be read together
as one document.
IN WITNESS THEREOF, the parties hereto have caused this Amendment to be
duly executed and delivered by their respective officers or representatives as
of the day and year first above written.
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Xxxxx Fargo Bank, National Xxxxxx, Inc.
Association
By: /s/ Art Brokx By: /s/ Xxxxxx Xxxxxxxx
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Name: Art Brokx Name: Xxxxxx Xxxxxxxx
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Title: Vice President Title: Chief Executive Officer
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