Document:

Exhibit 10.56

 

FIRST AMENDMENT

 

TO

 

LINE OF
CREDIT PROMISSORY NOTE

 

This First
Amendment to Line of Credit Promissory Note (this “First Amendment”) is dated March
10, 2005, by and among Diversified Corporate Resources, Inc., a Texas
corporation (the “Obligor”) and
the James R. Colpitt Trust (the “Holder”).

 

WHEREAS,
the Obligor has issued the Holder a Line of Credit Promissory Note, dated March
1, 2005, a copy of which is attached hereto as Exhibit A (the “Note”);

 

WHEREAS,
the Obligor and the Holder desire to amend the Note, as set forth herein.

 

NOW
THEREFORE, in consideration of the following good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and in consideration of the mutual promises and agreements herein
contained, including the recitals set forth hereinabove, the parties agree as
follows:

 

1.             Personal
Guaranties.  In order to induce the
Holder to fund another $200,000 (the “Additional Funding”)
under the Note, in addition to the $150,000 that has been funded as of the
current date, the Holder has received the personal guaranties of J. Michael
Moore and Ron Vallely (together, the “Guaranties”), both
of whom are officers of the Obligor who would benefit from the Additional
Funding, copies of which are attached hereto as Exhibit B;

 

2.             Conversion
Privilege.  As a further inducement
to the Holder to complete the Additional Funding, the Obligor hereby agrees
that, upon an Event of Default, the Holder may elect, in addition to any other
rights that the Holder would have under the Note or the Security Agreement with
J. Michael Moore executed simultaneously with the Note, to convert $200,000 of
the principal balance of the Note into 350,000 shares of the common stock of
the Obligor, at a conversion price of approximately $0.57 per share, by surrendering
the original copy of this Note to the Obligor along with written notice that
the Holder so wishes to convert $200,000 of this Note, at which time the
Obligor shall issue the Holder a replacement note identical to the Note, as
reduced by the amount converted; provided, however, that if the Holder elects
to exercise the conversion privilege set forth in this Section 2 (its “Conversion Rights”), it shall have no rights to enforce the
Guaranties set forth in Section 1, and the Holder agrees that, by the Holder
exercising its Conversion Rights, the Guaranties shall automatically become
null and void and have no further legal effect.

 

3.             Except
as expressly amended hereby, the Note remains in full force and effect.  Capitalized terms that are not defined herein
shall have the same meaning assigned to them in the Note.

 

[Remainder of page
intentionally left blank.]

 

 

IN WITNESS WHEREOF, the parties hereto have caused
this First Amendment to be executed and delivered as of the date first above
written.

 

This
First Amendment to Line of Credit Promissory Note may be executed in one or
more identical counterparts, including by facsimile signature, each of which
shall be deemed to be an original and all of which together shall be deemed to
be one instrument.

 

 

	
  OBLIGOR:

  
	
   

  
	
  DIVERSIFIED CORPORATE RESOURCES, INC.

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
	
   

  
	
  HOLDER:

  
	
   

  
	
  JAMES R. COLPITT TRUST

  
	
   

  
	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  James R. Colpitt,
  Trustee

  	
   

  
					

 

2

 

EXHIBIT
A

 

LINE OF
CREDIT PROMISSORY NOTE

 

 

EXHIBIT
B

 

COPIES
OF PERSONAL GUARANTIES OF MOORE AND VALLELYEXHIBIT 10.1

 

MERGER
TERMINATION AGREEMENT

 

This Merger Termination
Agreement (this “Agreement”) is entered into as of June 27, 2005 by and
among Nanometrics Incorporated, a California corporation (“Parent”), Major
League Merger Corporation, a Minnesota corporation and wholly owned subsidiary
of Parent (“Merger Sub 1”), Minor League Merger Corporation, a Delaware
corporation and a wholly owned subsidiary of Parent (“Merger Sub 2”) and August Technology
Corporation, a Minnesota corporation (the “Company”).

 

RECITALS

 

A.                                   WHEREAS,
Parent, Merger Sub 1, Merger Sub 2 and the Company have entered into an
Agreement and Plan of Reorganization dated January 21, 2005 (the “Merger
Agreement”);

 

B.                                     WHEREAS,
capitalized terms used but not otherwise defined herein shall have the
respective meanings provided for such terms in the Merger Agreement;

 

C.                                     WHEREAS,
Section 9.1(a) of the Merger Agreement provides that Parent and the
Company may terminate the Merger Agreement at any time prior to the Acquisition
Merger Effective Time by mutual written consent duly authorized by the Company
Board and Parent Board;

 

D.                                    WHEREAS,
Parent and the Company intend to terminate the Merger Agreement effective upon
the receipt by Parent of the Company Termination Fee and all Expenses of Parent;
and

 

E.                                      WHEREAS,
Parent Board and the Company Board have each authorized the termination of the
Merger Agreement pursuant to the terms of this Agreement.

 

AGREEMENT

 

NOW, THEREFORE, in
consideration of the premises and the agreements set forth herein, the parties
agree as follows:

 

1.                                       Termination
of Merger Agreement.  Effective
immediately upon receipt by Parent of the payment described in Section 2(b) below,
Parent, Merger Sub 1, Merger Sub 2 and the Company hereby terminate the Merger
Agreement pursuant to Section 9.1(a) of the Merger Agreement by the
mutual consent of the parties thereto.

 

2.                                       Effect
of Termination; Mutual Discharge and Waiver.

 

(a) Except as
expressly provided in this Agreement, including Section 4 hereto, and
notwithstanding Section 9.2 of the Merger Agreement, as a result of the
termination of the Merger Agreement pursuant to this Agreement, the Merger
Agreement shall become void, and there shall

 

 

be no liability under the
Merger Agreement on the part of any party hereto or any of their respective
affiliates, subsidiaries, directors, officers, shareholders, employees, agents,
financial and legal advisors and other representatives, and all rights and
obligations of each party thereto shall cease, including, without limitation,
the rights and obligations set forth in Section 9.3 of the Merger
Agreement and any liability for the willful or intentional breach of any
representations, warranties, covenants or agreements contained herein.

 

(b) The Company
shall pay to Parent the Company Termination Fee ($8,300,000) and Expenses of
Parent ($2,600,000.00) on or before the first business day following the date
of this Agreement.  Payment of the
Company Termination Fee and Expenses of Parent by the Company shall be made by
wire transfer of immediately available funds to the account designated on Exhibit A
hereto.  In the event the Company has
paid the Termination Fee and Expenses by Wire Transfer to the account
designated on Exhibit A before the execution of this Agreement, the
Termination Fee and Expenses shall be deemed received by Parent concurrently
with the execution of this Agreement. 
Parent acknowledges that payment of the Termination Fee and Expenses
shall constitute full and final satisfaction of any and all obligations of the
Company under Section 9.3 of the Merger Agreement.

 

(c) Parent shall
remit to the Company, within two weeks following the date of this Agreement,
the amount, if any, by which $2,600,000 exceeds the actual Expenses of
Parent.  If the actual Expenses of Parent
exceed $2,600,000, then Parent shall submit an invoice to the Company within
two weeks following the date of this Agreement. 
The Company shall promptly reimburse Parent the amount of such invoice.

 

(d) Effective upon
receipt by Parent of the payment described in Section 2(b) above,
each party hereto, on behalf of itself and, to the extent permitted by law, its
affiliates, subsidiaries, directors, officers, shareholders, employees, agents,
financial and legal advisors and other representatives, and the successors and
assigns of each of them (each, a “Releasing Party”), hereby releases each other
party hereto and each of their respective affiliates, subsidiaries, directors,
officers, shareholders, employees, agents, financial and legal advisors and
other representatives, and the successors and assigns of each of them, from any
and all liabilities and obligations, claims, causes of action and suits, at law
or in equity, whether now known or unknown, whether arising under any Unites
States federal, state or local or any foreign law or otherwise, that any
Releasing Party has, has had or may have in the future arising out of, relating
to, or in connection with the Merger Agreement, the Company Shareholder Voting
Agreements and Parent Shareholder Voting Agreements and the transactions
contemplated thereby, including, without limitation, any liability or
obligation set forth in Section 9.3 of the Merger Agreement and any
liability or obligation arising out of any breach or alleged breach of any
representation, warranty, covenant or agreement contained in the Merger
Agreement, provided that nothing in this Section 2 shall impair the
survival and full force of the terms of the Confidentiality Agreements (as
defined in Section 4 below).

 

3.                                       Acknowledgement
of Termination of Company Shareholder Voting Agreements and Parent Shareholder
Voting Agreements.  Parent and
Company each acknowledge that, effective upon and by virtue of the termination
of the Merger Agreement pursuant to Section 1 hereof, the Company
Shareholder Voting Agreements and Parent Shareholder Voting Agreements shall be
simultaneously terminated in accordance with their terms and no obligations,
rights, responsibilities 

 

2

 

or
other encumbrances or restrictions of any kind shall result or arise therefrom.

 

4.                                       Survival
of Confidentiality Agreements. 
Notwithstanding anything contained in this Agreement or in the Merger
Agreement to the contrary, the provisions of the Confidentiality Agreements
dated as of October 26, 2004 and December 17, 2004 between Parent and
the Company shall survive and remain in full force and effect in accordance
with their terms.  On or before June 30,
2005, Parent and the Company agree to use all reasonable efforts to return to
the other party all Proprietary Information (as defined in the Confidentiality
Agreement dated October 26, 2004) held by it or any of its affiliates,
directors, officers, employees, agents, financial advisors, legal advisors,
accountants or controlling persons (the “Representatives”), and to destroy all
other documents, memoranda, notes, summaries, analyses, extracts, compilations,
studies or other material prepared by or in the possession of the other party
or their Representatives, based on the Proprietary Information.

 

5.                                       Representations
and Warranties of Parent.  Each of
the Parent and its subsidiaries is an entity duly organized, validly existing
and in good standing under the Laws of the jurisdiction of its organization and
has requisite power and authority to operate its business as it is now
currently conducted.  The Parent has full
corporate power and authority to execute and deliver this Agreement.  The Parent Board of Directors has unanimously
approved this Agreement.  This Agreement
has been duly and validly executed and delivered by Parent and constitutes a
valid binding obligation of Parent, enforceable against Parent in accordance
with its terms, except as such enforceability may be limited by bankruptcy,
insolvency, fraudulent conveyance reorganization, moratorium or other similar
laws now or hereafter in effect relating to creditor’s rights generally and by
general equitable principals.

 

6.                                       Representations
and Warranties of the Company.  Each
of the Company and its subsidiaries is an entity duly organized, validly
existing and in good standing under the Laws of the jurisdiction of its
organization and have requisite power and authority to operate its business as
it is now currently conducted.  The
Company has full corporate power and authority to execute and deliver this
Agreement.  The Company Board of
Directors has unanimously approved this Agreement.  This Agreement has been duly and validly
executed and delivered by Company and constitutes a valid binding obligation of
the Company, enforceable against the Company in accordance with its terms,
except as such enforceability may be limited by bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium or other similar laws now or
hereafter in effect relating to creditor’s rights generally and by general
equitable principals.

 

7.                                       Public
Announcement.  Parent and the Company
acknowledge that each intends to issue a press release promptly after the date
of this Agreement with respect to this Agreement and the termination of the
Merger Agreement.  Each of the Parent and
the Company shall consult with the other before issuing such press release and
shall not issue such press release without the prior consent of the other
party, which consent shall not be unreasonably withheld, delayed or
conditioned.

 

8.                                       Governing
Law.  This Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware,
without regard to the conflict of law provisions thereof.  This Agreement shall be binding upon any
successor to the Company or Parent.

 

3

 

9.                                       Waiver
of Jury Trial.  Each of the parties
hereto hereby waives to the fullest extent permitted by applicable law any
right it may have to a trial by jury with respect to any litigation directly or
indirectly arising out of, under or in connection with this Agreement or the
Merger Agreement.

 

10.                                 Specific
Performance.  The parties hereto
agree that irreparable damage would occur in the event any provision of this
Agreement were not performed in accordance with the terms hereof and that the
parties shall be entitled to specific performance of the terms hereof, in
addition to any other remedy at law or in equity.

 

11.                                 Headings.  The descriptive headings contained in this
Agreement are included for convenience of reference only and shall not affect
in any way the meaning or interpretation of this Agreement.

 

12.                                 Miscellaneous.  This Agreement may be modified or amended
only be a writing signed by the parties hereto. 
This Agreement may be executed and delivered (including by facsimile
transmission) in one of more counterparts, and by the different parties hereto
in separate counterparts, each of which when executed and delivered shall be
deemed to be an original but all of which taken together shall constitute one
and the same agreement.

 

	
  AUGUST TECHNOLOGY
  CORPORATION

  	
  NANOMETRICS
  INCORPORATED

  
	
   

  
	
   

  
	
  By:

  	
    /s/ Stanley
  D. Piekos

  	
   

  	
  By:

  	
    /s/ Vincent
  J. Coates

  
	
  Name: 

  	
    Stanley D.
  Piekos

  	
   

  	
  Name: Vincent J. Coates

  
	
  Title:

  	
    Chief
  Financial Officer

  	
   

  	
  Title: Chairman of the
  Board and Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MAJOR LEAGUE MERGER

  
	
   

  	
   

  	
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ John D. Heaton

  
	
   

  	
   

  	
  Name: John D. Heaton

  
	
   

  	
   

  	
  Title: Chief Executive
  Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MINOR LEAGUE MERGER

  
	
   

  	
   

  	
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ John D. Heaton

  
	
   

  	
   

  	
  Name: John D. Heaton

  
	
   

  	
   

  	
  Title: Chief Executive
  Officer

  
								

 

4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]