Exhibit 10.1

 

FIRST AMENDMENT TO ASSET PURCHASE AGREEMENT

 

This First Amendment to Asset Purchase Agreement (this “Amendment”) is made as
of July 1, 2005 by and among IDX Information Systems Corporation, a Vermont
corporation (“Acquiror Parent”), IDX R&D Israel Ltd., an Israeli company
(“Acquiror Sub,” and collectively with Acquiror Parent, “Acquiror”),
RealTimeImage Ltd., an Israeli company (the “Parent”), RealTimeImage, Inc., a
Delaware corporation and wholly-owned subsidiary of Parent (the “Sub”) and HTI
Associates, LLC (the “Shareholders’ Agent”).

 

RECITALS

 

A. The parties hereto have entered into that certain Asset Purchase Agreement
(the “Asset Purchase Agreement”) as of April 27, 2005 pursuant to which Acquiror
purchase certain assets, and agreed to assume certain liabilities of, Parent and
Sub (the “Asset Purchase”).

 

B. The parties desire to amend the Asset Purchase Agreement in certain respects
to reflect recent developments subsequent to the execution of the Asset Purchase
Agreement and prior to the closing of the Asset Purchase and to clarify the
intent of the parties with respect to certain matters.

 

NOW, THEREFORE, the parties agree as follows:

 

AGREEMENT

 

1. Definitions. Capitalized terms that have not been defined in this Amendment
shall have the same meanings as given to such terms in the Asset Purchase
Agreement.

 

2. Amendments to Definitions.

 

(a) The definition of “Purchase Price” set forth in Section 1.1 of the Asset
Purchase Agreement is hereby amended to read in its entirety as follows:

 

“ “Purchase Price” means $16,081,000, plus VAT, if any.”

 

(b) The definitions “Accounts Receivable”, “Seller Current Assets”, “Seller
Current Liabilities”, “Working Capital”, “Working Capital Reduction” set forth
in Section 1.1 of the Asset Purchase Agreement shall be deleted in their
entirety.

--------------------------------------------------------------------------------

3. Purchased Assets. Section 1.2(v) of the Asset Purchase Agreement shall be
deleted in its entirety.

 

4. Excluded Assets.

 

(a) Section 1.3(ii) of the Asset Purchase Agreement is hereby amended to read in
its entirety as follows:

 

“(ii) all cash and cash equivalent assets of each Seller;”

 

(b) Section 1.3(iii) of the Asset Purchase Agreement is hereby amended to read
in its entirety as follows:

 

“(iii) all accounts, notes and other receivables owned by each Seller;”

 

5. Assumed Liabilities. Section 1.4(ii) of the Asset Purchase Agreement shall be
deleted in its entirety.

 

6. Excluded Liabilities. Section 1.5 of the Asset Purchase Agreement is hereby
amended by the addition of the following new subclause (xiv) at the end of
Section 1.5:

 

“(xiv) all accounts payable of each Seller.”

 

7. Purchase Price. Section 1.7 of the Asset Purchase Agreement is hereby amended
by the deletion of subclauses (b) through (e) of Section 1.7 in their entirety
and all references in the other provisions of the Asset Purchase Agreement to
“Adjusted Closing Balance Sheet”, “Post-Closing Asset/Liability Determination”
and “Dispute Notice” shall be deleted.

 

8. Closing Deliverables. Section 1.10(xiii) of the Asset Purchase Agreement is
hereby amended to read in its entirety as follows:

 

“(viii) the Closing Balance Sheet (as such term is defined in Section 5.19);”

 

9. Closing Financial Information. Section 5.19(b) of the Asset Purchase
Agreement is hereby amended to read in its entirety as follows:

 

“(b) Sellers shall prepare and deliver to Acquiror, one (1) business day prior
to the Closing, an estimated consolidated balance sheet of Sellers prepared in
accordance with GAAP as of the Closing Date (the “Closing Balance Sheet”). The
presentation of the Closing Balance Sheet shall be made according to the line
items for assets and liabilities as are set forth on the balance sheet of Parent
dated December 31, 2004 contained in the Financial Statements. The Closing
Balance Sheet shall be accompanied by such supporting documentation, information
and calculations as necessary to verify and determine the amount of the assets
and liabilities reflected thereon.”

 

10. Accounts Receivable. Section 5.27 of the Asset Purchase Agreement is hereby
amended to read in its entirety as follows:

 

“Accounts Receivable. For a period of three (3) months following the Closing
Date, Acquiror shall make the Transferred Individuals available to provide
reasonable

--------------------------------------------------------------------------------

assistance to Sellers to collect amounts due with respect to trade accounts
receivable of Sellers that are Excluded Assets hereunder (the “Retained
Receivables”) (without the necessity of (i) resorting to litigation, arbitration
or mediation, (ii) providing any incentives to account debtors, financial or
otherwise, or (iii) taking actions to penalize account debtors for failure to
pay such Retained Receivables). Parent shall pay Acquiror an amount equal to 15%
of the total amount collected with respect to each such Retained Receivable.
Acquiror will promptly deliver to Parent any payments received from third
parties in connection with Retained Receivables (after deducting 15% of any such
payment which deducted amount shall be retained by Acquiror).”

 

11. Accounts Payable. As soon as practicable after the Closing, each Seller
shall promptly discharge all outstanding trade accounts payable of such Seller.

 

12. Indemnifiable Matters. Section 8.2(vii) of the Asset Purchase Agreement
shall be deleted in its entirety.

 

13. Entire Agreement. Except as specifically modified hereby, all terms and
conditions of the Asset Purchase Agreement shall remain in full force and
effect, unmodified in any way. This Amendment shall be deemed to form an
integral part of the Asset Purchase Agreement. In the event of any inconsistency
or conflict between the provisions of the Asset Purchase Agreement and this
Amendment, the provisions of this Amendment will prevail and govern. All
references to the “Agreement” in the Asset Purcahse Agreement shall hereinafter
refer to the Asset Purchase Agreement as amended by this Amendment.

 

14. Counterparts. This Amendment may be executed in any number of counterparts,
each of which will be an original as regards any party whose signature appears
thereon and all of which together will constitute one and the same instrument.
This Amendment will become binding when one or more counterparts hereof,
individually or taken together, will bear the signatures of both parties
reflected hereon as signatories.

 

15. Facsimile Signatures. This Amendment may be executed and delivered by
facsimile and upon such delivery the facsimile signature will be deemed to have
the same effect as if the original signature had been delivered to the other
party.

 

16. Further Assurances. Each party agrees to cooperate fully with the other
parties and to execute such further instruments, documents and agreements and to
give such further written assurances as may be reasonably requested by any other
party to carry into effect the intents and purposes of this Amendment.

 

17. Successors and Assigns. None of the parties hereto may assign any of its
rights or obligations hereunder without the prior written consent of the other
parties hereto. This Amendment will be binding upon and inure to the benefit of
the parties hereto and their respective successors and permitted assigns.

 

18. Governing Law. The internal laws of the State of California (irrespective of
its choice of law principles) will govern the validity of this Amendment, the
construction of its terms, and the interpretation and enforcement of the rights
and duties of the parties hereto.

--------------------------------------------------------------------------------

19. Titles and Headings. The titles, captions and headings of this Amendment are
included for ease of reference only and will be disregarded in interpreting or
construing this Amendment.

 

[The remainder of this page has been left intentionally blank]

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, Acquiror Parent, Acquiror Sub, Parent, Sub and the
Shareholders’ Agent have caused this Agreement to be executed and delivered by
their respective officers thereunto duly authorized, all as of the date first
written above.

 

IDX INFORMATION SYSTEMS CORPORATION By:  

/s/ John A. Kane

--------------------------------------------------------------------------------

Name:   John A. Kane Title:   Senior Vice President & CFO IDX R&D ISRAEL LTD.
By:  

/s/ John A. Kane

--------------------------------------------------------------------------------

Name:   John A. Kane Title:   Senior Vice President & CFO REALTIMEIMAGE LTD. By:
 

/s/ Zvi Eintracht

--------------------------------------------------------------------------------

    Zvi Eintracht, Chief Executive Officer and Director By:  

/s/ Adi Raviv

--------------------------------------------------------------------------------

    Adi Raviv, solely in his capacity as a Director of RealTimeImage Ltd.
REALTIMEIMAGE, INC. By:  

/s/ Zvi Eintracht

--------------------------------------------------------------------------------

    Zvi Eintracht, Chief Executive Officer and Director HTI ASSOCIATES, LLC    

/s/ Adi Raviv

--------------------------------------------------------------------------------

    Adi Raviv, Managing Member

 

[Signature Page to Amendment to Asset Purchase Agreement]