Document:

Exhibit 10.22

 

AMENDMENT NO. 1 TO

SECURITIES PURCHASE AGREEMENT

 

This Amendment
No. 1 to the Securities Purchase Agreement (this “Agreement”) is dated
as of May 8, 2006, by and among IT&E International Group, Inc. a Delaware
corporation (the “Company”), ComVest Investment Partners II LLC, a
Delaware limited liability company (“ComVest”), and the purchasers set
forth on the signature pages attached hereto (each a “Purchaser” and
collectively with ComVest the “Purchasers”).

 

The Company
and the Purchasers have entered into a Securities Purchase Agreement dated
November 9, 2005 (the “Agreement”). The parties to the Agreement now
desire to amend the Agreement as set forth in this Amendment. In consideration
of the mutual covenants and agreements set forth below, the parties to the
Agreement agree as follows:

 

1.             Section 2.4(a) of the Agreement is
hereby amended and restated in its entirety to read as follows:

 

“(a)         ComVest shall have until November 9,
2006 to invest an additional $5,000,000 (the “Optional Investment”) on the same
terms as set forth herein (the “Option”) for the purchase of up to Five
Thousand (5,000) Preferred Shares and Warrants for the purchase of up to
32,142,829 shares of Common Stock.”

 

2.             Except as affected by this
Amendment, the Agreement is unchanged and continues in full force and effect.
All references to the Agreement shall refer to the Agreement as amended by this
Amendment. This Amendment shall be binding upon and inure to the benefit of
each of the undersigned and their respective successors and permitted assigns.

 

3.             This Amendment may be executed in
one or more counterparts, each of which shall be deemed an original but all of
which together will constitute one and the same instrument. Delivery of an
executed counterpart of a signature page to this Amendment by facsimile shall
be as effective as delivery of a manually executed counterpart of this
Amendment.

 

4. This
Amendment shall be governed by and construed in accordance with the domestic
laws of the State of New York (without giving effect to any choice or conflict
of law provision).

 

 

[Remainder of Page Intentionally Blank]

 

 

IN WITNESS
WHEREOF, the parties have executed this Amendment to Securities Purchase
Agreement as of the date first above written. 

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  IT&E INTERNATIONAL GROUP, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kelly Alberts

  	
   

  
	
   

  	
  Name: Kelly Alberts

  
	
   

  	
  Title: President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PURCHASERS:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  COMVEST INVESTMENT PARTNERS II

  LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Cecilio M. Rodriguez

  	
   

  
	
   

  	
  Name: Cecilio M. Rodriguez

  
	
   

  	
  Title: Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Charles McCall

  	
   

  
	
   

  	
  Charles McCall

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Matthew S. Dontzin

  	
   

  
	
   

  	
  Matthew S. Dontzin

  

 

2Exhibit 10.1

Summary of
the Avaya Inc. Non-Employee Director Compensation Program

(as of May 2006)

The following amounts are payable to non-employee
Directors of Avaya Inc. (the “Company”) in connection with their service on the
Company’s Board of Directors (the “Board”):

·                  Upon
becoming a member of the Board, each new non-employee Director receives an
inaugural grant of restricted stock units having a total value on the date of
grant of $50,000. The restricted stock units are placed in that Director’s deferred
share account under the Company’s Deferred Compensation Plan, and, assuming
they have vested, the underlying shares are distributed to that Director upon
retirement from the Board.

·                  All
non-employee Directors receive an annual retainer of $100,000.

·                  The
chairpersons of the following committees of the Board receive the following
additional amounts for chairing those committees:

	
  ·

  	
   

  	
  Audit

  	
   

  	
  $20,000

  
	
  ·

  	
   

  	
  Compensation

  	
   

  	
  $10,000

  
	
  ·

  	
   

  	
  Governance

  	
   

  	
  $10,000

  
	
  ·

  	
   

  	
  Finance

  	
   

  	
  N/A - chairperson is the Chief Executive Officer
  (“CEO”)

  
	
   

  	
   

  	
   

  	
   

  	
   

  

·                  Non-employee
Directors receive the following additional amounts for serving as members of
the following committees, which amounts are incremental for committee
chairpersons:

	
  ·

  	
   

  	
  Audit

  	
   

  	
  $10,000

  
	
  ·

  	
   

  	
  Compensation

  	
   

  	
  $5,000

  
	
  ·

  	
   

  	
  Governance

  	
   

  	
  $5,000

  
	
  ·

  	
   

  	
  Finance

  	
   

  	
  $2,500 (other than the chairperson, who is the CEO)

  
	
   

  	
   

  	
   

  	
   

  	
   

  

The retainers are payable as of March 1 of each
fiscal year. Directors do not receive separate meeting fees.

Non-employee Directors are required to elect to
receive at least 50% of their retainers in the Company’s common stock, to be
received either at the time of payment of their retainers or to be placed in
their deferred share accounts under the Company’s Deferred Compensation Plan.
Any remaining amounts may be paid in cash, but in no event is the cash paid
permitted to exceed 50% of their retainers.

Directors can elect to defer all or part of the cash
portion of their retainers under the Company’s Deferred Compensation Plan. The
interest rate on cash deferrals is determined by the Board.

The Company also provides non-employee Directors
with travel accident insurance when traveling in connection with
Company-related business. The Company does not provide a retirement plan or
other perquisites for non-employee Directors. Directors have an opportunity to
participate in the Avaya Product Program for Directors, in which certain Avaya
products (specifically, an Avaya IP Office system for one location with up to
20 telephones) and associated maintenance services are provided at no charge;
however, the equipment and the related maintenance is taxable as income to any
Director that chooses to participate, and the Company provides a gross-up for
the resulting taxes.Exhibit 10.3

OMTOOL,
LTD.

 

Stock Purchase and
Restriction Agreement — Officer

 

Omtool,
Ltd. (the “Company”) hereby enters into this Stock Purchase and
Restriction Agreement, dated as of the date set forth below, with the
Stockholder named herein (the “Agreement”) and issues and sells the
Shares specified herein the following common stock pursuant to its 1997 Stock Plan, as amended. The terms
and conditions attached hereto are also part hereof.

 

	
  Name of Employee (the “Stockholder”):

  	
  [NAME]

  
	
   

  	
   

  
	
  Date of this restricted stock purchase:

  	
  [DATE]

  
	
   

  	
   

  
	
  Number of shares of the Company’s Common Stock
  issued and sold under this Agreement (the “Shares”):

  	
  [NUMBER OF SHARES]

  
	
   

  	
   

  
	
  Purchase price per share:

  	
  $0.01

  
	
   

  	
   

  
	
  Number of Shares that are Vested Shares on Vesting
  Start Date:

  	
  None

  
	
   

  	
   

  
	
  Shares that are Unvested Shares on Vesting Start
  Date:

  	
  [NUMBER OF SHARES UNVESTED]

  
	
   

  	
   

  
	
  Vesting Start Date:

  	
  [VESTING START DATE]

  
	
   

  	
   

  
	
  Vesting
  Schedule:

  	
   

  

 

	
  On the annual anniversary date of the Vesting
  Start Date commencing one year from the Vesting Start Date:

  	
  [1/4 OF UNVESTED SHARES]

  

 

	
  

  	
   

  	
  OMTOOL, LTD.

  
	
   

  	
   

  	
   

  
	
  Signature of
  Stockholder

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
  Street Address

  	
   

  	
   

  	
  Name of Officer:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  
	
  City/State/Zip
  Code

  	
   

  	
   

  	
   

  

 

OMTOOL, LTD.

Stock Purchase and Restriction Agreement —
Officer

Omtool, Ltd. (the “Company”)
agrees to sell to the Stockholder, and the Stockholder agrees to purchase from
the Company, shares of the Company’s Common Stock, $.01 par value per share (“Common
Stock”), on the following terms and conditions:

1.             Grant Under Plan. This stock
purchase is made pursuant to and is governed by the Company’s 1997 Stock Plan, as amended (as the
same may be amended and/or restated from time to time, the “Plan”) and,
unless the context otherwise requires, terms used herein shall have the same
meanings as in the Plan. The Shares will be evidenced by this Agreement and the
Stockholder will not receive a certificate for the Shares. Initially, the
Stockholder will have his or her ownership of the Shares registered only in
book-entry form in the recording of the transfer agent for the Company’s Common
Stock. Book-entry registration refers to a method of recording stock ownership
in which no shares are issued to stockholders. After any date on which the
Shares have become Vested Shares, the Stockholder may obtain, upon request from
the Company to the transfer agent for the Company’s Common Stock, a certificate
for the Vested Shares registered in his or her name in book-entry form.

2.             Purchase and Sale of Stock;
Payment of Purchase Price. The Company hereby sells to the Stockholder, and
the Stockholder hereby purchases from the Company, the Shares of Common Stock
at the purchase price per Share set forth on the cover page. The purchase price
shall be paid by the Stockholder upon execution and delivery of this Agreement
by check payable to the Company.

3.             Investment Representation.
The Stockholder represents, warrants and acknowledges that he or she has had an
opportunity to ask questions of and receive answers from a person or persons
acting on behalf of the Company concerning the terms and conditions of this
investment. The Stockholder represents and warrants to the Company that he or
she is acquiring the Shares with his or her own funds, for his or her own
account for the purpose of investment, and not with a view to any resale or
other distribution thereof in violation of the Securities Act of 1933, as
amended (the “Securities Act”). As applicable, the Company may place a
legend on any stock certificate representing the Shares to the effect that the
Shares were acquired pursuant to an investment representation without
registration of the Shares and may make an appropriate notation with respect to
the same on its stock records. As applicable, the Company may also place a
legend on any stock certificate representing any of the Shares reflecting the
restrictions on transfer and any rights of repurchase and rights of first
refusal set forth herein and may make an appropriate notation on its stock
records with respect to the same.

The Stockholder
understands that the Company is under no obligation to register the Shares
under the Securities Act or to comply with the requirements for any exemption
that might otherwise be available, or to supply the Stockholder with any
information necessary to enable the 

 

Stockholder to make routine sales of the Shares under Rule 144
or any other rule of the Securities and Exchange Commission.

4.             Vesting if Employment Continues.

(a)           Vesting Schedule. If the Stockholder
has remained continuously an employee of the Company through the vesting dates
specified on the cover page hereof, Unvested Shares shall become Vested
Shares (or shall “vest”) on such dates in an amount equal to the number
of shares set opposite the applicable date on the cover page hereof.
Subject to Section 4(b) below, if the Stockholder’s employment by the
Company ceases voluntarily or involuntarily, with or without cause, no
additional Unvested Shares shall become Vested Shares under any circumstances
with respect to the Stockholder. Any determination under this Agreement as to
employment status or other matters referred to above shall be made in good
faith by the Board of Directors of the Company or the Compensation Committee of
the Board of Directors, whose decision shall be binding on all parties.

(b)          Accelerated Vesting due to Acquisition. Upon the
consummation of an Acquisition (as defined in the Plan), the vesting provisions
of this Agreement shall be accelerated by a period of one year such that the
Stockholder shall be credited with one year of additional service time to the
Company as an employee.

In the event that the
Stockholder is employed by the Company immediately prior to the consummation of
an Acquisition and is terminated without “Cause” (as defined below)) or
terminates his or her own employment “for Good Reason” (as defined
below) following the consummation of the Acquisition, then all installments of
this Agreement shall vest in full immediately prior to such termination.

“Good
Reason” shall mean, without the Stockholder’s express written consent, (i) termination
for redundancy due to an Acquisition; (ii) any reduction in the
Stockholder’s base annual salary as in effect immediately preceding an
Acquisition or as the same may be increased from time to time or failure to
continue coverage of the Stockholder under any compensation or benefit plan
made available to similarly situated employees of the acquiring party; (iii) (a) a
requirement that the location in which the Stockholder perform his or her
principal duties for the Company be changed following an Acquisition to a new
location (the “New Location”) that is outside a radius of 50 miles from
the principal business address at which the Stockholder performed his or her
principal duties immediately preceding an Acquisition (the “Old Location”),
unless the New Location is closer to the Stockholder’s then current principal
residential address than the Old Location or (b) a requirement that the
location at which the Stockholder perform his or her principal duties for the
Company be changed following an Acquisition to a New Location that results in a
commute of more than 50 miles from the Stockholder’s principal residential
address; or (iv) a substantial change in the nature or scope of the
functions or duties of the Stockholder from those attached to the position with
the Company which the Stockholder held immediately prior to the Acquisition.

 2
 

 

 

“Cause” shall mean conduct involving one or
more of the following:  (i) disloyalty,
gross negligence, willful misconduct, fraud or breach of fiduciary duty to the
Company which causes material harm to the Company; (ii) deliberate
disregard of the rules or policies of the Company, or willful breach of an
employment or other agreement with the Company, which causes material harm to
the Company; (iii) the unauthorized disclosure of any trade secret or
confidential information of the Company which causes material harm to the
Company; or (iv) the commission of an act which constitutes unfair
competition with the Company or which induces any customer or supplier to
breach a contract with the Company.

(c)           Termination
of Employment. For purposes hereof, employment shall not be considered as
having terminated during any leave of
absence if such leave of absence has been approved in writing by the Company
and if such written approval contractually obligates the Company to continue
the employment of the Stockholder after the approved period of absence; in the
event of such an approved leave of absence, vesting of Unvested Shares shall be
suspended (and the period of the leave of absence shall be added to all vesting
dates) unless otherwise provided in the Company’s written approval of the leave
of absence that specifically refers to this Agreement. For purposes hereof,
employment shall include a consulting arrangement between the Stockholder and
the Company that immediately follows termination of employment, but only if so
stated in a written consulting agreement executed by the Company that
specifically refers to this Agreement. This Agreement shall not be affected by
any change of employment within or among the Company and its Subsidiaries so
long as the Stockholder continuously remains an employee of the Company or any
Subsidiary.

5.             Restrictions on Transfer;
Purchase by the Company. The Stockholder shall not sell, assign, transfer,
pledge, encumber or dispose of all or any of his or her Unvested Shares, except
that Unvested Shares may be transferred only pursuant to this Section 5
hereof. The Stockholder may not at any time transfer any Shares to any
individual, corporation, partnership or other entity that engages in any
business activity that is in competition, directly or indirectly, with the
products or services being developed, manufactured or sold by the Company. The
determination of whether any proposed transferee engages in any business
activity that is in competition with those of the Company shall be made by the
Board of Directors of the Company in good faith. This prohibition shall be
applicable in addition to and separately from the other provisions hereof.

Upon
the termination of the Stockholder’s employment, the Stockholder shall sell to
the Company (or the Company’s assignee) all of his or her Unvested Shares in
accordance with the procedures set forth below. The purchase price (the “Repurchase
Price”) of such Shares (the “Repurchased Shares”) shall be the
purchase price per Share set forth on the cover page hereof (subject to
adjustment as herein provided). The sale of the Repurchased Shares shall take
place as soon as practicable at the principal executive offices of the Company
at the time and date set by the Company. Such sale shall be effected by the
Company’s delivery of a stock power 

 3
 

 

executed by the Stockholder in the form attached
hereto and a letter from the Company to the Company’s transfer agent noting the
number of shares that are to be repurchased, against payment to the Stockholder
by the Company of the Repurchase Price by check for the Repurchased Shares
(which check may be delivered by mail). Upon the mailing of a check in payment
of the purchase price in accordance with the terms hereof, the Company shall
become the legal and beneficial owner of the Shares being repurchased and all
rights and interests therein or relating thereto, and the Company shall have
the right to retain and transfer to its own name the number of Shares being
repurchased by the Company.

Notwithstanding
the foregoing, the Stockholder may transfer all or any of his or her Unvested
Shares (x) as a gift to any member of his or her family or to any trust
for the benefit of any such family member or the Stockholder; provided that any such transferee shall agree in writing
with the Company, as a condition precedent to such transfer, to be bound by all
of the provisions of this Agreement to the same extent as if such transferee
were the Stockholder, or (y) by will or the laws of descent and
distribution, in which event each such transferee shall be bound by all of the
provisions of this Agreement to the same extent as if such transferee were the
Stockholder or (z) by court order, in which event each such transferee
shall be bound by all of the provisions of this Agreement to the same extent as
if such transferee were the Stockholder. As used herein, the word “family”
shall include any spouse, lineal ancestor or descendant, brother or sister.

6.             Death; Disability.

(a)           Upon the death or Disability (as defined below) of the
Stockholder while in the employ of the Company, but only to the extent the
Stockholder has any Unvested Shares, all Unvested Shares shall become Vested
Shares.

(b)          Definition of Disability. For purposes of this Agreement, the
term “disability” shall mean “permanent and total disability” as
defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as
amended (the “Code”).

7.             Withholding Taxes. If the
Company in its discretion determines that it is obligated to withhold any tax
in connection with the transfer of, or the lapse of restrictions on, the
Shares, the Stockholder hereby agrees that the Company may withhold from the
Stockholder’s wages or other remuneration the appropriate amount of tax. At the
discretion of the Company, the amount required to be withheld may be withheld
in cash from such wages or other remuneration. The Stockholder further agrees
that, if the Company does not withhold an amount from the Stockholder’s wages
or other remuneration sufficient to satisfy the withholding obligation of the
Company, the Stockholder will make reimbursement on demand, in cash, for the
amount underwithheld.

8.             Failure to Deliver Shares.
If any Stockholder (or his or her legal representative) who has become
obligated to sell Shares hereunder shall fail to deliver such Shares to the
Company in accordance with the terms of this Agreement, the Company may, at its
option, in 

 4
 

 

addition to all other remedies it may have, send to
such Stockholder by registered mail, return receipt requested, the purchase
price for such Shares as is herein specified. Thereupon, the Company: (i) shall
cancel on its books the entry or entries and/or certificates or certificates
representing such Shares to be sold; and (ii) shall make, in lieu thereof,
a new entry or entries or issue, in lieu thereof, a new certificate or
certificates in the name of the Company representing such Shares, and thereupon
all of such Stockholder’s rights in and to such Shares shall terminate.

9.             Arbitration. Any dispute,
controversy, or claim arising out of, in connection with, or relating to the
performance of this Agreement or its termination shall be settled by
arbitration in Massachusetts, pursuant to the rules then obtaining of the
American Arbitration Association. Any award shall be final, binding and
conclusive upon the parties and a judgment rendered thereon may be entered in
any court having jurisdiction thereof.

10.          Provision of Documentation to
Stockholder. By signing this Agreement the Stockholder acknowledges receipt
of a copy of this Agreement and a copy of the Plan.

11.                               Miscellaneous.

(a)           Notices.
All notices hereunder shall be in writing and shall be deemed given when sent
by certified or registered mail, postage prepaid, return receipt requested, if
to the Stockholder, to the address set forth on the cover page hereof or
at the address shown on the records of the Company, and if to the Company, to
the Company’s principal executive offices, attention of the Corporate
Secretary.

(b)          Entire
Agreement; Modification. This Agreement constitutes the entire agreement
between the parties relative to the subject matter hereof, and supersedes all
proposals, written or oral, and all other communications between the parties
relating to the subject matter of this Agreement. This Agreement may be
modified, amended or rescinded only by a written agreement executed by both
parties.

(c)           Fractional
Shares. All fractional Shares resulting from the adjustment provisions
contained in the Plan shall be rounded down to the nearest whole share.

(d)          Changes
in Capital Structure. In the event of any stock split, stock dividend,
recapitalization, reorganization, merger, consolidation, combination, exchange
of shares, liquidation, spin-off, split-up, or other similar change in
capitalization or event, the securities received in respect of such event shall
be “Shares” hereunder subject to this Agreement and shall retain the same
status as “Vested Shares” or “Unvested Shares” as the Shares in
respect of which they were received, and the repurchase price per security
subject to repurchase shall be appropriately adjusted by the Company.

(e)           Severability.
The invalidity, illegality or unenforceability of any provision of this
Agreement shall in no way affect the validity, legality or enforceability of
any other provision.

 5
 

 

(f)           Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit
of the parties hereto and their respective successors and assigns, subject to
the limitations set forth herein.

(g)           Governing
Law. This Agreement shall be governed by and interpreted in accordance with
the laws of Delaware without giving effect to the principles of the conflicts
of laws thereof.

(h)          No
Obligation to Continue Employment. Neither the Plan, nor this Agreement,
nor any provision hereof imposes any obligation on the Company to continue the
Stockholder in employment or any other business relationship with the Company.

* * * * *

 6
 

 

 

STOCK
POWER

FOR VALUE RECEIVED,
the undersigned hereby sells, assigns and transfers unto
________________________________, taxpayer identification or social security
number __________________, residing at _______________________ an aggregate of
__________________ shares of common stock, $.01 par value per share (the “Shares”),
of Omtool, Ltd. (the “Corporation”), a Delaware corporation standing in my name
on the books of said Corporation, and do hereby irrevocably constitute and
appoint the Corporation as attorney-in-fact to transfer the Shares in the books
of the Corporation with full power of substitution in the premises.

	
  Dated:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Print Name:

  	
   

  
	
  Witness:

  	
   

  	
   

  
						

 

 7

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