Document:

Prepared by MERRILL CORPORATION

EXHIBIT 10.1

MODIFICATION TO BUSINESS LOAN AGREEMENT

 

 

This Second Modification to Business Loan

Agreement (this “Modification”) is entered into by and between TAB PRODUCTS CO.

(“Borrower”) and COMERICA BANK-CALIFORNIA (“Bank”) as of this 16th day of November,

2001, at San Jose, California.

 

RECITALS

 

                This

Modification is entered into upon the basis of the following facts and

understandings of the parties, which facts and understandings are acknowledged

by the parties to be true and accurate:

 

                Bank

and Borrower previously entered into a Business Loan Agreement dated November

21, 2000, which was subsequently amended pursuant to or that certain

modification agreement dated August 21, 2001. 

The Business Loan Agreement and each modification shall collectively be

referred to herein as the “Agreement.”

 

                NOW,

THEREFORE, for good and valuable consideration, the receipt and sufficiency of

which are hereby acknowledged, the parties agree as set forth below.

 

AGREEMENT

 

1.                Incorporation by Reference.  The Recitals and the documents referred to

therein are incorporated herein by this reference.  Except as otherwise noted, the terms not defined herein shall

have the meaning set forth in the Agreement.

 

2.                Modification to the

Agreement.  Subject to the

satisfaction of the conditions precedent as set forth in Section 3 hereof, the

Agreement is hereby modified as set forth below.

 

a.                Addendum

Section 2(b) is hereby deleted in its entirety and replaced with the following:

 

“2(b)                Tangible Effective Net Worth in

an amount not less than $31,000,000.00;”

 

3.                Legal Effect.  The effectiveness of this Modification is

conditioned upon receipt by Bank of this Modification, and any other documents

which Bank may require to carry out the terms hereof.  Except as specifically set forth in this Modification, all of the

terms and conditions of the Agreement remain in full force and effect.

 

4.                Integration.  This is an integrated Modification and

supersedes all prior negotiations and agreements the subject matter

hereof.  All amendments hereto must be

in writing and signed by the parties.

 

                IN

WITNESS WHEREOF, the parties have agreed as of the date first set forth above.

 

	

  TAB PRODUCTS CO.

  	

   

  	

  COMERICA

  BANK-CALIFORNIA

  
	

   

  	

   

  	

   

  	

   

  	

   

  
	

  By:

  	

  /s/ Donald J. Hotz

  	

   

  	

  By:

  	

  /s/ Nick Tsiagkas

  
	

  Title:

  	

  Vice President, Chief

  Financial Officer & Treasurer

  	

   

  	

   

  	

  Nick Tsiagkas

  Assistant Vice PresidentPrepared by MERRILL CORPORATION

EXHIBIT

10.2

 

LOAN

REVISION/EXTENSION

AGREEMENT

 

 

	

   

  	

   

  	

  BORROWER

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

  Comerica

  Bank-California

  	

   

  	

  Tab

  Products Co.

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

  (Herein

  called “Bank”)

  	

   

  	

  935

  Lakeview Parkway, Suite 195

  	

   

  
	

   

  	

   

  	

  Vernon

  Hills, IL  60061

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  (Herein

  called “Borrower”)

  	

   

  

 

	

  ORIGINAL

  NOTE

  INFORMATION

  	

   

  	

  Interest

  Rate

  	

   

  	

  Amount

  	

   

  	

  Note Date

  	

   

  	

  Maturity

  Date

  	

   

  	

  Obligor #

  	

   

  	

  Note #

  	

   

  
	

   

  	

  B + 0.500%

  	

   

  	

  $5,000,000.00

  	

   

  	

  11/21/00

  	

   

  	

  10/31/01

  	

   

  	

  7657107024

  	

   

  	

  26

  	

   

  

 

This Agreement is effective as of:  October 31, 2001

 

ORIGINAL OBLIGATION:

 

                This

Loan Revision Agreement refers to the loan evidenced by the above Note dated  November 21, 2000  in favor of Bank executed by  Tab Products Co.  in the amount of  $5,000,000.00  payable in full on  October 31, 2001 . 

Said Note is secured by a Deed of Trust dated  N/A  (hereinafter referred to as the “Encumbrance”), recorded on  N/A  as Instrument No.  N/A  in the Office of County Recorder of  N/A  County California.

 

CURRENT OBLIGATION:

 

                The

unpaid principal balance of said Note as of  November 16, 2001  is

$0.00  on which interest is paid to  December 21, 2001 , with a maturity of  October 31, 2001 .  As modified by previous  N/A  dated  N/A .

 

REVISION:

 

                The

undersigned Borrower hereby requests Bank to revise the terms of said Note, and

said Bank to accept payment thereof at the time or times, in the following

manner:

 

The maturity date is hereby changed from

October 31, 2001 to October 31, 2002.

 

In consideration of Bank’s

acceptance of the revision of said Note, including the time for payment

thereof, all as set forth above, the Borrower does hereby acknowledge and admit

to such indebtedness, and further does unconditionally agree to pay such

indebtedness together with interest thereon within the time and in the manner

as revised in accordance with the foregoing, together with any and all

attorney’s fees, cost of collection, and any other sums secured by the

Encumbrance.

 

                Any

and all security for said Note including but not limited to the Encumbrance, if

any, may be enforced by Bank concurrently or independently of each other and in

such order as Bank may determine; and with reference to any such security in

addition to the Encumbrance Bank may, without consent of or notice to Borrower,

exchange, substitute or release such security without affecting the liability

of the Borrower, and Bank may release any one or more parties hereto or to the

above obligation or permit the liability of said party or parties to terminate

without affecting the liability of any other party or parties liable thereon.

 

                This

Agreement is a revision only, and not a novation; and except as herein

provided, all of the terms and conditions of said Note, said Encumbrance and

all related documents shall remain unchanged and in full force and effect.

 

                When

one or more Borrowers signs this Agreement, all agree:

 

a.     That where in this

Agreement the word “Borrower” appears, it shall read “each Borrower;

b.     That breach of any covenant

by any Borrower may at the Bank’s option be treated as breach by all Borrowers;

c.     That the liability and

obligations of each Borrower are joint and several.

 

	

  Dated this 16th

  day of November, 2001.

  	

   

  	

  Tab Products Co.

  
	

   

  	

   

  	

  /s/ Donald J. Hotz

  
	

   

  	

   

  	

  Vice President, Chief

  Financial Officer & Treasurer

  

 

The

foregoing agreement is accepted this

16th

day of November, 2001.

 

	

  By:

  	

  /s/ Nick Tsiagkas

  
	

   

  	

  Assistant Vice President

  

 

Each of the undersigned agree and consent to

the foregoing revisions to this Agreement and the Encumbrance, if any.Exhibit 10.1 Xfone Inc.

EXHIBIT 10.1

                             ATTORNEY FEE AGREEMENT

1.       The Law Firm of Hamilton, Lehrer & Dargan, P.A. (hereinafter referred
to as the "Law Firm") will represent XFONE, INC. (hereinafter referred to as
"Client") in various corporate and securities matters including but not limited
to filing of reports pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934.

2.       The above legal services and others will be performed by the Law Firm
after consultation with and authorization from the Client.

3.       The fee to be paid is five thousand (5000) shares of common stock per
month for up to twenty-five (25) hours of legal services. Client shall register
thirty thousand (30,000) shares of common stock on Form S-8 upon execution of
this Agreement. Upon execution of this Agreement, these shares are deemed earned
and are non-refundable. Client shall deliver five thousand (5000) of common
stock prior to the first day of each month from January 1, 2002 until July 1,
2002.

By executing this Agreement, Client acknowledges that the services to be
rendered are not in connection with a capital raising transaction and do not
directly or indirectly promote or maintain a market for the securities of
Client.

4.       The Client agrees to compensate the Law Firm for the cost of long
distance telephone charges, Edgar fees, messenger services or any other
out-of-pocket expenses, which may be necessarily incurred in the representation
of the Client.

5.       All payments for out-of-pocket fees and expenses are due upon
presentation of invoices.

6.       The Law Firm is authorized to take all actions which the Firm deems
advisable on behalf of the Client. The Law Firm agrees to notify the Client
promptly of all significant developments in regard to the Client.

7.       Client will fully cooperate with the Law Firm and provide all
information known to the Client or available to the Client which, in the opinion
of the Law Firm, would aid the Law Firm in representing the Client.

8.       The Law Firm agrees to use its best efforts in representing the Client.

9.       The Law Firm may terminate this Agreement if the Client is in breach of
its obligations under this Agreement or if the Law Firm is otherwise required to
do so in accordance with the rules of professional conduct governing attorneys.
The Client is entitled to terminate this Agreement subject to its contractual
liability to the Law Firm for services rendered.

10.      This Agreement will terminate July 1, 2002. The Client agrees that the
Law Firm shall be paid in full for any services performed preceding termination
for which the Law Firm has not been paid.

11.      This writing includes the entire Agreement between the Client and the
Law Firm regarding this matter. This Agreement can only be modified with another
written agreement signed by the Client and the Law Firm. This Agreement shall be
binding upon the Client and the Law Firm and their respective heirs, legal
representatives and successors in interest.

12.      Both the Client and the Law Firm have read and agreed to this
Agreement. The Law Firm has provided the Client with answers to any questions
and has further explained this Agreement to the complete satisfaction of the
Client. The Client has also been given a copy of this Agreement.

In Witness Whereof, the parties have executed this Agreement on the 4th day of
January, 2002.

HAMILTON, LEHRER & DARGAN, P.A.

/s/ Brenda Lee Hamilton
-----------------------
By: Brenda Lee Hamilton
For the Firm

XFONE, INC.

/s/ Guy Nissenson
-----------------
By: Guy Nissenson, President

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