EXHIBIT 10(f)
AIM GROUP, INC.
0000 Xxxx Xxxxxx Xxxx, Xxxxx 000
Xxxxxxx Xxxxx, XX 00000
April 10, 1997
[Name of Note Holder]
Re: Amendment to Series A 3.5% Convertible
Note of AIM Group, Inc.
--------------------------------------
Dear _____________________:
This letter agreement provides for an amendment to the Series A 3.5%
Convertible Note (the "Note") issued on December 20, 1995 to you by AIM Group,
Inc. (the "Company") in the principal amount of $______________. The Board of
Directors of the Company has approved the changes in the terms of the Note set
forth below and, upon acceptance by you in the space set forth below, the Note
will be deemed to be amended to give effect to such changes, subject to the
approval of the Vancouver Stock Exchange. Defined terms set forth below have
the same meaning as prescribed in the Note unless the context otherwise
requires.
The Note is amended as follows:
1. MATURITY. The Maturity Date of the Note is extended to be March 31,
1998.
2. INTEREST RATE. The annual interest rate of the Note is increased to
10%, effective January 1, 1997, payable quarterly in arrears at the
beginning of each calendar quarter.
3. THE CONVERSION PRICE. The conversion provisions of the Note are
amended to provide that the Note will be convertible prior to the
Maturity Date at a Conversion Price of $.70 per share (which amount
is more than 500% higher than the current bid price per share for the
common stock on the Vancouver Stock Exchange). The provisions in
Section 3(d) of the Note relating to conversion subsequent to the
Maturity Date are deleted.
4. SENIOR DEBT LIMITATION. Amending the letter dated December 22, 1995
to you from the undersigned, the Company will not, without the prior
approval of the holders of at least 80% of the principal amount of
the Series A 3.5% Convertible Notes outstanding, incur any
indebtedness which ranks senior in priority to payment of the
indebtedness under the outstanding Series A 3.5% Convertible Notes.
Sincerely yours,
AIM GROUP, INC.
By:_________________________
Xxxx X. Arena
Chairman of the Board and
Chief Executive Officer
Accepted on this
______ day of April, 1997
[Name of Note Holder]
By:______________________
