Document:

Exhibit 10.1

 

EXECUTION VERSION

 

AMENDMENT AGREEMENT

 

This Amendment Agreement (the “Amendment”) is entered into by and between DATARADIO CORPORATION,  a Delaware corporation (“Dataradio”), and BIO-KEY INTERNATIONAL, INC.,  a
Delaware corporation (“BIO-key”), and is
effective as of the 1st day of
April, 2009.

 

WHEREAS, Dataradio and BIO-key entered into a Settlement
and Mutual Release Agreement dated as of July 28, 2008 (the “Agreement”;
all capitalized terms not otherwise defined herein
shall have the meanings given to them in the Agreement); and

 

WHEREAS, the Parties wish to amend the Agreement to
provide that the unpaid Balance as of the date hereof, which amount is equal to
$635,343.00, together with all accrued and unpaid interest thereon, shall be
paid by BIO-key to Dataradio as set forth herein.

 

NOW, THEREFORE, in consideration of the mutual promises
set forth herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

 

1.                                            Amendment to
Attachment “A”. Attachment
“A” to the Agreement is hereby amended by deleting such attachment in its
entirety and substituting therefor Attachment “A” attached to this Amendment.

 

2.                                            Amendments to Section 1.

 

(a)                                  Section 1.A. of the Agreement is hereby amended by adding the
following sentence after the last sentence thereof:

 

“Notwithstanding the foregoing, as indicated on
Attachment “A”, the interest rate referenced above in this Section 1.A.
shall increase to ten percent (10%) as of April 1, 2009.”

 

(b)                                 Section 1.B. of the
Agreement is hereby amended by deleting the last sentence thereof and replacing
it with the following:

 

“Notwithstanding anything contained herein, a portion of
the Balance, equal to an aggregate of $250,000 (the “Holdback Amount”), which includes $157,000 of the Hamilton County Monies, shall be withheld
by BIO-key and shall only be due and payable to Dataradio hereunder as follows:
(i) within three (3) business days following BIO-key’s receipt of a
written statement from Hamilton County, Ohio that all remaining work required
to be performed by Dataradio under the Subcontractor Agreement has been
completed to the satisfaction of the County, BIO-key agrees to deliver to
Dataradio, in the manner provided in Section 1.E. hereof, an aggregate of
$93,000 of the Holdback Amount, which amount shall be applied to the Balance;
and (ii) within three (3) business days following BIO-key’s actual
receipt of the remaining portion of the Holdback Amount from Hamilton County,
BIO-key agrees to deliver to Dataradio, in the manner provided in Section 1.E.
hereof, the full amount of such payment, which amount shall be applied to the
Balance. BIO-key agrees to act in

 

 

good faith to cooperate with Dataradio in obtaining a
notice from Hamilton County that the work has been completed. For the avoidance
of doubt, the $93,000 portion of the Holdback Amount shall be delivered to
Dataradio no later than such time as BIO-key delivers the remaining portion of
the Holdback Amount pursuant to clause (ii) above, regardless of whether
written notice of completion is received from Hamilton County. In the event
that all or a portion of the Holdback Amount is delivered to Dataradio in
accordance with the foregoing provisions, BIO-key shall promptly thereafter
deliver to Dataradio an updated Attachment “A” to this Agreement, revised as
necessary to reflect the applicable reduction(s) in the amount of the
outstanding Balance.”

 

(b)                                 Section 1.C. of the Agreement is hereby amended by deleting such Section in
its entirety and inserting in lieu thereof the following:

 

“C.                               The total of any unpaid Balance (excluding the Holdback Amount, which
shall only be due and payable in accordance with Section 1.B. above) and
accrued interest is due and payable on October 1, 2009.”

 

3.                                            No Other Amendments. Except as expressly set
forth in this Amendment, no other term or provision of the Agreement is hereby
amended or affected in any way, and the Agreement shall remain in full force
and effect after the date hereof.

 

4.                                            Facsimile Signatures;
Counterparts. This Amendment may be executed by facsimile signatures and in
any number of counterparts, each of which shall be an original, but all of
which together shall constitute one instrument.

 

[Signature page follows]

 

2

 

IN WITNESS WHEREOF, the
Parties hereto have executed this Amendment as a sealed instrument as of the
date first set forth hereof.

 

 

	
   

  	
  BIO-KEY
  INTERNATIONAL, INC. 

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Thomas J. Colatosti

  
	
   

  	
   

  	
  Thomas
  J. Colatosti

  
	
   

  	
   

  	
  Chief
  Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DATARADIO
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Richard Vitelle

  
	
   

  	
   

  	
  Name:
  Richard Vitelle

  
	
   

  	
   

  	
  Title:
  Treasurer

  

 

 

Attachment
“A”

 

See attached.

 

 

	
  BIO-key International,
  Inc.

  	
  ATTACHMENT
  “A”

  	
   

  
	
  Dataradio Corporation

  	
   

  
	
  Installment Payments

  	
   

  

 

	
  Payment dates

  	
   

  	
  28-Jul-08

  	
   

  	
  1-Aug-08

  	
   

  	
  1-Sep-08

  	
   

  	
  1-Oct-08

  	
   

  	
  1-Nov-08

  	
   

  	
  1-Dec-08

  	
   

  	
  1-Jan-09

  	
   

  	
  1-Feb-09

  	
   

  	
  1-Mar-09

  	
   

  	
  1-Apr-09
  **

  	
   

  	
  1-May-09

  	
   

  	
  1-Jun-09

  	
   

  	
  1-Jul-09

  	
   

  	
  1-Aug-09

  	
   

  	
  1-Sep-09

  	
   

  	
  1-Oct-09

  	
   

  	
  Total

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Beginning Principal
  Balance

  	
   

  	
  2,356,771

  	
   

  	
  2,006,174

  	
   

  	
  1,955,577

  	
   

  	
  1,668,442

  	
   

  	
  1,617,845

  	
   

  	
  1,567,248

  	
   

  	
  1,516,651

  	
   

  	
  1,466,054

  	
   

  	
  1,302,509

  	
   

  	
  1,138,964

  	
   

  	
  585,343

  	
   

  	
  529,343

  	
   

  	
  473,343

  	
   

  	
  417,343

  	
   

  	
  361,343

  	
   

  	
  305,343

  	
   

  	
  2,356,771

  	
   

  
	
  Hamilton County
  assignment

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  236,538

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  503,621

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  740,159

  	
   

  
	
  Principal payment

  	
   

  	
  350,597

  	
   

  	
  50,597

  	
   

  	
  50,597

  	
   

  	
  50,597

  	
   

  	
  50,597

  	
   

  	
  50,597

  	
   

  	
  50,597

  	
   

  	
  163,545

  	
   

  	
  163,545

  	
   

  	
  50,000

  	
   

  	
  56,000

  	
   

  	
  56,000

  	
   

  	
  56,000

  	
   

  	
  56,000

  	
   

  	
  56,000

  	
   

  	
  55,343

  	
   

  	
  1,366,612

  	
   

  
	
  lnterest @ 7% beginning
  6/18/08*

  	
   

  	
  18,330

  	
   

  	
  1,560

  	
   

  	
  11,788

  	
   

  	
  9,733

  	
   

  	
  9,752

  	
   

  	
  9,142

  	
   

  	
  9,142

  	
   

  	
  8,837

  	
   

  	
  7,091

  	
   

  	
  6,865

  	
   

  	
  4,878

  	
   

  	
  4,558

  	
   

  	
  3,945

  	
   

  	
  3,594

  	
   

  	
  3,112

  	
   

  	
  2,545

  	
   

  	
  114,872

  	
   

  
	
  Total Payments

  	
   

  	
  368,927

  	
   

  	
  52,157

  	
   

  	
  298,923

  	
   

  	
  60,330

  	
   

  	
  60,349

  	
   

  	
  59,739

  	
   

  	
  59,739

  	
   

  	
  172,382

  	
   

  	
  170,637

  	
   

  	
  560,486

  	
   

  	
  60,878

  	
   

  	
  60,558

  	
   

  	
  59,945

  	
   

  	
  59,594

  	
   

  	
  59,112

  	
   

  	
  57,888

  	
   

  	
  2,221,643

  	
   

  
	
  Principal Balance
  Outstanding

  	
   

  	
  2,006,174

  	
   

  	
  1,955,577

  	
   

  	
  1,668,442

  	
   

  	
  1,617,845

  	
   

  	
  1,567,248

  	
   

  	
  1,516,651

  	
   

  	
  1,466,054

  	
   

  	
  1,302,509

  	
   

  	
  1,138,964

  	
   

  	
  585,343

  	
   

  	
  529,343

  	
   

  	
  473,343

  	
   

  	
  417,343

  	
   

  	
  361,343

  	
   

  	
  305,343

  	
   

  	
  250,000

  	
   

  	
  250,000

  	
   

  

 

	
  *

  	
  Increasing to 10% as of April 1, 2009.

  
	
   

  	
   

  
	
  **

  	
  $50,000 principal
  payment to be made on April 1, 2009 or the date that the Amendment is
  fully-executed by both Parties, whichever is earlier. All amounts beginning
  May 1, 2009 do not reflect payment of the Holdback Amount and shall be
  adjusted as appropriate in the event that all or a portion of the Holdback
  Amount is paid to Dataradio in accordance with Section 1.B. of the Agreement
  (as amended).Exhibit 10.18

 

Restricted
Stock Agreement for

Outside
Directors under

Assured Guaranty Ltd. 2004 Long-Term Incentive Plan

 

THIS AGREEMENT, entered into as of the Grant
Date (as defined in paragraph 1), by and between the Director and Assured
Guaranty Ltd. (the “Company”):

 

WITNESSETH
THAT:

 

WHEREAS, the Company maintains the Assured
Guaranty Ltd. 2004 Long-Term Incentive Plan, as amended
and restated as of May 7, 2009,
and as further amended thereafter from time to time (the “Plan”), and the Director has been selected by the
committee administering the Plan (the “Committee”) to receive a Restricted
Stock Award under the Plan; and

 

NOW, THEREFORE, IT IS AGREED, by and between
the Company and the Director, as follows:

 

1.  Terms of Award.  The following words and phrases
used in this Agreement shall have the meanings set forth in this paragraph 1:

 

(a)                                  The “Director” is                              .

 

(b)                                 The “Grant Date” is                                                                            .

 

(c)                                  The number of “Covered Shares” shall be                     
shares of Stock.

 

Other words and phrases
used in this Agreement are defined pursuant to
paragraph 15 or elsewhere in this Agreement.

 

2.  Restricted
Stock Award.  This Agreement
specifies the terms of the “Restricted Stock Award” granted to the Director.

 

3.  Restricted Period.  Subject to the limitations of this
Agreement, the “Restricted Period” for the Covered Shares of the
Restricted Stock Award shall begin on the Grant Date and end on the day immediately
prior to the next annual shareholders meeting during which elections for
directors are held following the Grant Date.

 

The Restricted Period shall end prior to the date
specified above to the extent set forth below:

 

(a)           The Restricted Period shall end on the date the
Director ceases to be a director of the Company (and is not otherwise employed
by the Company or its Subsidiaries), if the Director ceases to be
a director by reason of his Disability or death.  The Director shall be considered to have a “Disability”
if the Nominating and Governance Committee of the Board of Directors determines
that he is unable to serve as a Director as a result of a medically
determinable physical or mental impairment.

 

 

(b)           The Restricted Period shall end upon a Change in Control
(as defined in the Plan), provided that such Change in Control occurs on or
before the date the Director ceases to be a director of the Company.

 

4.  Transfer and
Forfeiture of Shares.  If the
Restricted Period with respect to the Covered Shares ends on or before the date
the Director ceases to be a director of the Company, then at the end of such
Restricted Period, the Covered Shares shall be transferred to the Director free
of all restrictions.  If the Restricted
Period with respect to the Covered Shares does not end on or before the date
the Director ceases to be a director of the Company, then as of the date the
Director ceases to be a director of the Company, the Director shall forfeit all
Covered Shares.

 

5.  Transferability.  Except as otherwise provided by the
Committee, the Restricted Stock Award may not be sold, assigned, transferred,
pledged or otherwise encumbered during the Restricted Period.

 

6.  Dividends.  The Director shall be entitled to receive any
dividends paid with respect to the Covered Shares that become payable during
the Restricted Period.  Any dividends
shall be payable to the Director in cash. 
The Director shall not be prevented from receiving dividends and
distributions paid on the Covered Shares of Restricted Stock merely because
those shares are subject to the restrictions imposed by this Agreement and the
Plan; provided, however that no dividends or distributions shall be payable to
or for the benefit of the Director with respect to record dates for such dividends
or distributions for any Covered Shares occurring on or after the date, if any,
on which the Director has forfeited those shares.

 

7.  Voting.  The Director shall be entitled to vote the
Covered Shares during the Restricted Period to the same extent as would have
been applicable to the Director if the Director was then vested in the shares;
provided, however, that the Director shall not be entitled to vote Covered
Shares with respect to record dates for any Covered Shares occurring on or
after the date, if any, on which the Director has forfeited those shares.

 

8.  Registration of
Restricted Stock Award.  Each
certificate issued in respect of the Covered Shares awarded under this
Agreement shall be registered in the name of the Director.

 

9.  Heirs and Successors.  This Agreement shall be binding upon, and
inure to the benefit of, the Company and its successors and assigns, and upon
any person acquiring, whether by merger, consolidation, purchase of assets or
otherwise, all or substantially all of the Company’s assets and business.  If any benefits deliverable to the Director
under this Agreement have not been delivered at the time of the
Director’s death, such benefits shall be delivered to the Designated
Beneficiary, in accordance with the provisions of this Agreement
and the Plan.  The “Designated
Beneficiary” shall be the beneficiary or beneficiaries designated by the
Director in a writing filed with the Committee in such form and at such time as
the Committee shall require.  If a
deceased Director fails to designate a beneficiary, or if the Designated
Beneficiary does not survive the Director, any rights that would have been
exercisable by the Director and any benefits distributable to the Director
shall be distributed to the legal representative of the estate of the
Director.  If a deceased Director
designates a beneficiary and the Designated Beneficiary survives the Director
but dies before the complete distribution of benefits to the Designated 

 

2

 

Beneficiary under this
Agreement, then any benefits distributable to the Designated
Beneficiary shall be distributed to the legal representative of the estate of
the Designated Beneficiary.

 

10.  Administration.  The authority to manage and control the operation
and administration of this Agreement shall be vested in the
Committee, and the Committee shall have all powers with respect to this
Agreement as it has with respect to the Plan.  Any interpretation of this Agreement by the
Committee and any decision made by it with respect to this Agreement is final
and binding on all persons.

 

11.  Plan Governs.  Notwithstanding anything in this
Agreement to the contrary, this Agreement shall be subject to the
terms of the Plan, a copy of which may be obtained by the Director from the
office of the Secretary of the Company; and this Agreement
is subject to all interpretations, amendments, rules and regulations
promulgated by the Committee from time to time pursuant to the Plan.

 

12.  Notices.  Any written notices provided for in this
Agreement or the Plan shall be in writing and shall be deemed
sufficiently given if either hand delivered or if sent by fax or overnight
courier, or by postage paid first class mail. 
Notices sent by mail shall be deemed received three business days after
mailing but in no event later than the date of actual receipt.  Notices shall be directed, if to the
Director, at the Director’s address indicated by the Company’s records, or if
to the Company, at the Company’s principal executive office.

 

13.  Fractional Shares.  In lieu of issuing a fraction of a share,
resulting from an adjustment of the Restricted Stock Award pursuant to the Plan
or otherwise, the Company will be entitled to pay to the Director an amount
equal to the fair market value of such fractional share.

 

14.  Amendment.  This Agreement
may be amended in accordance with the provisions of the Plan, and may otherwise
be amended by written agreement of the Director and the Company without the
consent of any other person.

 

15.  Plan Definitions.  Except where the context clearly implies or
indicates the contrary, a word, term, or phrase used in the Plan is similarly
used in this Agreement.

 

IN WITNESS WHEREOF, the
Director has executed the Agreement, and the Company has caused these presents
to be executed in its name and on its behalf, all as of the Grant Date.

 

Assured Guaranty Ltd.

	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  James Michener

  	
   

  
	
  Its:

  	
  General Counsel

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Director:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00161-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00161-of-00352.parquet"}]]