Exhibit 10.22
ALLONGE TO CONVERTIBLE NOTE DATED JUNE 18, 2002
Reference is hereby made to the Convertible Note dated June 18,
2002 (the "Note") by and between Briazz, Inc., a Washington corporation (the
"Maker"), with principal offices located at 0000 0xx Xxxxxx Xxxxx, Xxxxx 000,
Xxxxxxx, XX 00000, and Laurus Master Fund, Ltd. (the "Payee"), with principal
offices at c/o Ironshore Corporate Services Ltd., X.X. Xxx 0000 G.T., Queensgate
House, South Church Street Grand Cayman, Cayman Islands. Terms used herein and
not otherwise defined herein shall have the meaning set forth in the Note.
Maker and Payee hereby agree to amend the Note as follows:
1. Section 3.1(b) of the Note, shall be amended so that the
definition of "Fixed Price" shall be $0.50 [closing market price
prior to execution].
2. Section 2.1 of the Note shall be amended by adding the following
to the end of such Section 2.1:
"Notwithstanding the foregoing, until the Repayment Date of
March 3, 2003, the Monthly Amount to be paid by the Borrower
shall consist of interest payments only. Commencing the
Repayment Date of March 3, 2003, principal and interests
payments of the Monthly Amount shall resume."
Section 2.1 of the Note shall be further amended by changing
"one-sixteenth" in the first sentence to "one-thirteenth."
3. There are no other modifications to the Note.
BRIAZZ, INC.
By: /s/ Xxxxxx X. Xxxxxxxx
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Name/Title: Xxxxxx X. Xxxxxxxx, CEO
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Dated: December 2, 2002
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AGREED AND ACCEPTED
LAURUS MASTER FUND, LTD.
By: /s/ Xxxxx Grin
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Name:
Title:
