EXHIBIT 10
PixTech, Inc.
(A DEVELOPMENT STAGE COMPANY)
FIRST AMENDMENT to the
PRIVATE EQUITY LINE AGREEMENT
BY AND BETWEEN
KINGSBRIDGE CAPITAL LIMITED
AND
PIXTECH, INC.
This First Amendment (this "Amendment") to the Private Equity Line Agreement
dated as of August 9, 1999 (the "Equity Line Agreement") by and between
Kingsbridge Capital Limited (the "Investor") and PixTech, Inc., a Delaware
corporation (the "Company") is made as of June __, 2001. Capitalized terms not
defined herein shall have the meanings ascribed to them in the Equity Line
Agreement.
The Effective Date under the Equity Line Agreement was the date on which the
SEC first declared effective the registration statement on Form S-1 relating to
the resale of shares put to the Investor by the Company pursuant to the Equity
Line Agreement, which date was September 27, 1999. The Equity Line Agreement
provided for a basic term of twenty-four (24) months from the Effective Date.
The Investor and the Company wish to extend the term of the Equity Line
Agreement by an additional six (6) months.
Now, therefore, in consideration of the promises hereinafter set forth and for
other good and valuable consideration, the receipt of which is hereby
acknowledged, the parties hereby agree to amend the Equity Line Agreement as
follows:
1. Section 1.8 of the Equity Line Agreement is hereby deleted in its entirety
and replaced with the following:
"Section 1.8 "Commitment Period" shall mean the period commencing on
the Effective Date and expiring on the earliest to occur of (i) the
date on which the Investor shall have purchased Put Shares pursuant to
this Agreement for an aggregate Purchase Price equal to the Maximum
Commitment Amount, (ii) the date this Agreement is terminated pursuant
to Section 2.4, or (iii) March 27, 2002."
2. Section 10.4 of the Equity Line Agreement is hereby amended to (i) replace
"Xxxx Xxxxx" with "Xxxxx Boem", (ii) add "(000) 00-0-00-00-0000" as the
facsimile number for notices to the Company, and (iii) replace "Xxxxxxx Xxxxxx,
Esq. and Xxxx X. Xxxxxxxxxx, Esq." with "Xxxxxxx X. Xxxxx, Esq."
3. Section 10.8 of the Equity Line Agreement is hereby deleted in its entirety
and replaced with the following:
"Section 10.8 Termination;Survival. This Agreement shall terminate
on the earliest to occur of (i) Xxxxx 00, 0000, (xx) such date that
the Investor terminates this Agreement pursuant to
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PixTech, Inc.--Form 10Q--June 30, 2001 Page 19
PixTech, Inc.
(A DEVELOPMENT STAGE COMPANY)
Section 2.4 hereof and (iii) the date on which the Company has made
Puts with an aggregate Investment Amount equal to the Maximum
Commitment Amount; provided, however, that the provisions of Articles
VI, VIII, X and Section 7.3 shall survive termination of this
Agreement."
4. Except as amended hereby, the Equity Line Agreement shall continue in full
force and effect.
IN WITNESS WHEREOF, this Amendment has been duly executed in counterparts as
of June 25th, 2001.
KINGSBRIDGE CAPITAL LIMITED
By: /s/ Xxxx Xxxxxx
--------------------------
Name: Xxxx Xxxxxx
Title: Director
PIXTECH, INC.
By: /s/ Xxxxx Boem
--------------------------
Xxxxx Boem
Chief Financial Officer
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PixTech, Inc.--Form 10Q--June 30, 2001 Page 20
