Document:

06302002 Form 10-Q Exhibit 10.29

Exhibit 10.29

MODIFICATION TO LOAN AND SECURITY AGREEMENT

This First Modification to Loan and Security Agreement (this
"Modification") is entered into by and between ABAXIS, INC. ("Borrower") and
COMERICA BANK-CALIFORNIA ("Bank") as of this 29th day of March, 2002,
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 Loan and Security Agreement
(Accounts and Inventory) dated March 13, 2002. The Loan and Security 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

	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.

	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. 
Section 2.2 is hereby deleted in its entirety and replaced with the
following.

"Except as hereinbelow provided, the Credit shall bear interest, on the Daily
Balance owing, at a fluctuating rate of interest equal to the Base Rate plus
Zero 00/100 (0.00%) percentage points per annum effective March 29,2002."

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

	Integration. This is an integrated Modification and supersedes all
prior
negotiations and agreements regarding 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. 

ABAXIS, INC.COMERICA BANK-CALIFORNIA

By: /s/ Alberto Santa InesBy: /s/ Florina Sy 

Title:Interim CFOTitle: Corporate
Banking Officer

MODIFICATION TO

LOAN AND SECURITY AGREEMENT

This Second Modification to Loan and Security Agreement (this
"Modification") is entered into by and between Abaxis, Inc. ("Borrower") and
COMERICA BANK-CALIFORNIA, ("Bank") as of March 29, 2002 at Inglewood,
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 loan and Security Agreement
dated March 13, 2002. The Loan and Security Agreement and each Modification
thereto, shall collectively by 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

	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.

	Modification to the Agreement. Subject to the satisfaction of the
conditions
precedent as set forth in this Modification, the Agreement is hereby modified
as set forth below.

	Section 6.9(a) of the Agreement shall be deleted and the following shall be
substituted therefor:

"6.9 a. Borrower will now make any distribution or declare or pay any
dividend (in stock or in cash) to any shareholder or on any of its capital
stock, of any class, whether now or hereafter outstanding, or purchase, acquire,
repurchase, or redeem or retire any such capital stock; provided, however, that
1)Borrower may make non-cash distributions and dividends up to an amount
required by the terms of the Preferred Stock, 2) Borrower may make cash
distribution and dividends not to exceed 25% of net profit after taxes on an
annual basis, and 3) to the extent that as so long as Borrower is an entity that
is not directly subject to Federal income taxation and with respect to which any
earnings are attributed ratably to each Person with an ownership interest in
Borrower, Borrower may make distributions to each such Person in an amount
necessary to pay each such Person's income tax resulting from such ownership
interest in Borrower, and; provided, further, that, promptly upon request of
Bank, Borrower shall cause each such Person to provide Bank with copies of its
tax return to substantiate any such distribution;"

	Legal Effect. The Agreement, as amended hereby,
shall be and remain in full

force and effect in accordance with its respective terms and
hereby is ratified and confirmed in all respects. Except as expressly set forth
herein, the execution, delivery, and performance of this Modification shall not
operate as a waiver of, amendment of, or forbearance with respect to any Event
of Default that may now exist or may occur after the date hereof, or with
respect to any other right, power, or remedy of Bank under the Agreement, as in
effect prior to the date hereof. Borrower ratifies and reaffirms the continuing
effectiveness of all promissory notes, guaranties, security agreements,
mortgages, deeds of trust, environmental agreements, and all other instruments,
documents and agreements entered into in connection with the Agreement. Borrower
represents and warrants that the Representations and Warranties contained in the
Agreement are true and correct as of the date of this Modification, and that no
Event of Default has occurred and is continuing. 

	Conditions Precedent to the Modification. 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, which shall
include limit, such other documents and completion of such other matters, as
bank may reasonably deem necessary or appropriate.

	Integration. This is an integrated Modification and supersedes all
prior
negotiations and agreements regarding the subject matter hereof. All
amendments hereto must be in writing and signed by the parties

	Counterpart Execution. This Modification may be executed in two
or more
counterparts, each of which shall be deemed an original , but all of which
shall constitute one instrument.

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

Abaxis, Inc.COMERICA BANK-CALIFORNIA 

By: /s/ Alberto Santa InesBy: /s/ Florina
Sy

Title:Interim CFOTitle: Corporate Banking Officer06302002 Form 10-Q Exhibit 10.30

Exhibit 10.30

LOAN 

REVISION/EXTENSION

AGREEMENT

BORROWER

3240 Whipple Blvd.

Union City, CA 94587

(Herein called "Borrower")

COMERICA BANK-CALIFORNIA

(Herein called "Bank")

	
Original Note Information
	
Interest Rate
	
Amount
	
Note Date
	
Maturity Date
	
Obligor #
	
Note #

	
B+0.500%
	
$1,250,000.00
	
03/13/02
	
09/11/02
	
0045218405
	
91

This Agreement is Effective as of: March 29, 2002

ORIGINAL OBLIGATION:

This Loan Revision Agreement refers to the loan evidenced by the above
Note Dated March 13, 2002in favor of Bank executed by Abaxis,
Inc. in the amount of $1,250,000.00 payable in full on September
11, 2002. Said Note is secured by a Deed of Trust dated N/A
(hereinafter referred to as the "Encumbrance"), recorded on N/A as
Instruments No. N/A in the Office County Recorder of N/A County
California. 

CURRENT OBLIGATION:

The unpaid principle balance of said Note as of March 29, 2002 is
$ 300,877.50 on which interest is paid to March 13,2002, with a
maturity of September 11, 2002. 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 interest rate is hereby amended from Bank's Base Rate +0.500% to Bank's
Base Rate +0.000% per annum.

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 forgoing, together with any
and al 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
Encumberance, 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 theron.

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:

	That where in this Agreement the word "Borrower" appears, it shall read
"each Borrower";
	That breach of any covenant by any Borrower may at the Bank's option by
treated as breach by all Borrowers;
	That the liability and obligations of each Borrower are joint and
several.

Dated this 29th day of March, 2002.Abaxis,
Inc.

The foregoing agreement is accepted this/s/ Alberto Santa Ines

29th day of March, 2002.

By: /s/ Florina Sy

Florina A. Sy, Corporate Banking Officer

Each of the undersigned agree and consent to the foregoing revisions to this
Agreement and the Encumbrance, if any.

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