Exhibit 10.15
 
PROMISSORY NOTE AND PLEDGE AGREEMENT
 
$235,000
April 16, 2001

San Jose, California
 
FOR VALUE RECEIVED, the undersigned, an individual with an address of 16071 Mays
Ave., Monte Sereno, CA 95030 (“Maker”), unconditionally promises to pay to the
order of Pumatech, Inc., a Delaware corporation (the “Company”), at its
principal office (now located in San Jose, California), the principal sum of
$235,000, on or before April 16, 2002 (the “Due Date”). Such principal sum shall
bear interest from the date hereof at a rate of 6% per annum on the unpaid
balance of this Note, compounded daily. The entire outstanding balance of
principal and accrued but unpaid interest shall be due and payable on the Due
Date. In the event that such amounts are not repaid within 10 days after the Due
Date, the Maker hereby agrees to pay the Company an additional amount equal to
5% of the principal sum amount remaining unpaid in addition to the principal and
interest described above. In the event the Maker’s employment with Company is
terminated, the principal and interest described above shall be due on the 185th
day from the date of termination, or on the Due Date, whichever is sooner.
 
As security for the full and timely payment of this Note, the Maker hereby
pledges and grants to the Company a security interest in the 31,662 shares of
the Company’s common stock held in account number 207-2282 (‘Pledged Stock”) by
custodian of the account, Deutsche Banc Alex. Brown (“Custodian”). The Custodian
shall hold the Pledged Stock for the benefit of the Company to perfect the
security interest granted hereunder.
 
At the option of the holder, this entire Note shall become immediately due and
payable, without demand or notice, upon the occurrence of any one of the
following events:
 

 
(a)
any misrepresentation or omission of or on behalf of the Maker made to the
holder in connection with this loan;

 

 
(b)
insolvency or failure of the Maker or any guarantor to generally pay its debts
as they become due;

 

 
(c)
assignment for the benefit of creditors of, or appointment of a receiver or
other officer for, all or any part of the Maker’s property;

 

 
(d)
adjudication of bankruptcy, or filing of a petition under any bankruptcy or
debtor’s relief law by or against the Maker or any guarantor;

 

 
(e)
death of the Maker; or

 

 
(f)
sale or transfer, whether voluntary or involuntary, of all or any interest in
the property which is security for this Note.

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Principal and interest are payable in lawful money of the United States of
America. The Maker may prepay any amount due hereunder, without premium or
penalty.
 
In the event the Company incurs any costs or fees in order to enforce payment of
this Note or any portion thereof, the undersigned agrees to pay to the Company,
in addition to such amounts as are owed pursuant to this Note, such costs and
fees, including, without limitation, a reasonable sum for attorneys’ fees.
 
The undersigned hereby waives to the full extent permitted by law all rights to
plead any statute of limitations as a defense to any action hereunder.
 
Notwithstanding the foregoing, the undersigned acknowledges that this Note is a
full recourse note and that the undersigned is liable for full payment of this
Note without regard to the value at any time or from time to time of the Pledged
Stock. In the event of any default in the payment of this Note, the Company
shall have and may exercise any and all remedies of a secured party under the
California Commercial Code, and any other remedies available at law or in
equity, with respect to the Pledged Stock.
 
The failure of the Company to exercise any of the rights created hereby, or to
promptly enforce any of the provisions of this Note, shall not constitute a
waiver of the right to exercise such rights or to enforce any such provisions.
 
As used herein, the undersigned includes the successors, assigns and
distributees of the undersigned.
 
As used herein, the Company includes the successors, assigns and distributees of
the Company, as well as a holder in due course of this Note.
 
This Note is made under and shall be construed in accordance with the laws of
the State of California, without regard to the conflict of law provisions
thereof.
 
MAKER
/s/    KELLY HICKS

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Kelly Hicks

 
 
Accepted by:
 
PUMATECH, INC.
By:
 
/s/    STEPHEN A. NICOL

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Title:
 
Vice President of Sales

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AMENDMENT NO. 1 TO PROMISSORY NOTE AND PLEDGE AGREEMENT
 
April 16, 2002
San Jose, California
 
This Amendment No. 1 to Promissory Note and Pledge Agreement (“Amendment”)
amends that certain Promissory Note and Pledge Agreement dated April 16, 2001
(“Original Note”) made by Kelly J. Hicks. Capitalized terms not defined in this
Amendment shall have the same meaning as set forth in the Original Note.
 
Pursuant to this Amendment:
 

 
1.
The Due Date is extended to April 16, 2003.

 

 
2.
Commencing April 16, 2002, the principal sum of $235,000 shall bear interest at
a rate of four percent (4%) per annum on the unpaid balance of the Original
Note, compounded daily.

 
Except as specifically modified by this Amendment, the Original Note remains
unchanged.
 
Accepted by:
 
PUMATECH, INC.
     
MAKER
By:
 
/s/    BRADLEY A. ROWE

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/s/    KELLY HICKS

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Title:
 
Chief Executive Officer

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Kelly Hicks

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