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Exhibit 10.10
FIRST AMENDMENT TO SECURITY AND LOAN AGREEMENT
AND ADDENDUM, EXHIBIT "A", THERETO
This First Amendment ("Amendment") amends that certain Security and Loan
Agreement dated October 30, 1996, by and between Imperial Bank ("Bank") and
General Automation, Inc. ("Borrower") and the Addendum. Exhibit "A," (the
"Addendum") thereto, of even date, (collectively herein the Security and Loan
Agreement and the Addendum are referred to as the ("Agreement") as follows:
1. The dollar figure "$1,500,000" in Section 1. of the Security and Loan
Agreement is hereby amended to read as "$2,000,000."
2. Section 8.a. of the Addendum is hereby amended to read in its entirety
as follows:
"Maintain a minimum Book Net Worth of $5,000,000 as of 9/30/96 -
and of $4,500,000 as of 12/31/96 and thereafter."
3. Except as provided above, the Agreement remains unchanged.
4. This Amendment is effective as of January 27, 1997, and the parties
hereby confirm that the Agreement as amended is in full force and effect.
GENERAL AUTOMATION, INC.
"Borrower"
By: /s/ Xxxx X. Xxxxxxxxx
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Xxxx X. Xxxxxxxxx
Title: VP Finance
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IMPERIAL BANK
"Bank"
By: /s/ Xxxxxxxx Xxxxxxx
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Xxxxxxxx Xxxxxxx
Title: Regional Vice President
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