Exhibit 10.44
BRIDGE FINANCING AMENDMENT AGREEMENT NO. 4
This Bridge Financing Amendment Agreement No. 4 ("Amendment Agreement")
is entered into as of October 4, 2002, by Lithium Technology Corporation ("LTC")
and Arch Hill Capital N.V. ("Arch Hill") (LTC and Arch Hill collectively
referred to herein as the "Parties").
RECITALS
WHEREAS, the Parties have executed a Bridge Financing Agreement dated
December 31, 2001 as amended on March 20, 2002, May 30, 2002 and July 29, 2002
(the "Agreement"); and
WHEREAS, the Parties have agreed to amend the repayment provisions of
the Agreement and the promissory notes.
NOW THEREFORE, in consideration of the mutual agreements contained
herein, the Parties agree as follows:
1. Section 4 of the Agreement shall be amended as follows:
"The entire principal balance and all other sums due and
payable under (i) any Promissory Note issued prior to July 29,
2002 shall be converted as of the closing of the Share
Exchange Agreement dated as of June 7, 2002 between Hill Gate
Capital N.V. and LTC into LTC common stock on the conversion
terms set forth in such notes and (ii) any Promissory Notes
issued on or after July 29, 2002 shall be applied against the
purchase price of equity securities being sold by LTC in any
equity financing after the date hereof."
2. Section 1 of each Note issued prior to July 29, 2002 shall be
amended and restated in its entirety to read as follows:
"The principal balance and all other sums due and payable
under this Note shall be converted as of the closing of the
Share Exchange Agreement dated as of June 7, 2002 between Hill
Gate Capital N.V. and LTC into common stock on the conversion
terms set forth in Section 3 of this Note."
3. Section 1 of each Note issued on or after July 29, 2002 shall
be amended and restated in its entirety to read as follows:
"The principal balance and all other sums due and payable
under this Note shall be applied against the purchase price of
equity securities being sold by LTC in any equity financing
after the date hereof."
4. All other terms of the Notes shall remain the same and shall
continue to have the same force and effect as originally written.
5. Upon the satisfaction of the Notes on the terms set forth herein the
Agreement shall terminate and the parties will have no further obligations
thereunder except with respect to the Registration Rights set forth in Section 7
which shall survive the termination of the Agreement.
IN WITNESS WHEREOF, the Parties have executed this Amendment Agreement
as of the date first above written.
LITHIUM TECHNOLOGY
CORPORATION
By: /s/ Xxxxx X. Xxxx
________________________________
Xxxxx X. Xxxx
Chairman and Chief Executive Officer
ARCH HILL CAPITAL N.V.
By: /s/ X.X. Xxx Xxxxx
_______________________________
X.X. Xxx Xxxxx
Executive Officer
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