Document:

Imagistics International Inc.

	

EXHIBIT 10.31  

SIXTH AMENDMENT
AGREEMENT   

          SIXTH
AMENDMENT AGREEMENT (this “Agreement”) dated as of June 1, 2004 by and among (1)
Imagistics International Inc. (the “Borrower”), (2) Fleet Capital Corporation
(“Fleet”), and the other financial institutions party to the Credit Agreement
(as defined below) as lenders (collectively, the “Lenders” and individually, a
“Lender”) and (3) Fleet, as administrative agent (the “Administrative Agent”)
for the Lenders with respect to a certain Credit Agreement dated as of November
9, 2001 by and among the Borrower, the Lenders and the Administrative Agent, as
amended by that certain First Amendment Agreement dated as of March 19, 2002,
that certain Second Amendment Agreement dated as of July 19, 2002, that certain
Third Amendment Agreement dated as of March 5, 2003, that certain Fourth
Amendment Agreement dated as of May 16, 2003 and that certain Fifth Amendment
Agreement dated as of May 7, 2004 (as amended, the “Credit Agreement”).  

W I T N E S S E T H:  

          WHEREAS,
the Borrower has requested that the Lenders amend certain terms and conditions
of the Credit Agreement on the terms and conditions set forth herein; and  

          WHEREAS,
the parties hereto have agreed to amend certain provisions of the Credit
Agreement.   

          NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:   

          §1.
Definitions. Capitalized terms used herein without definition that are defined
in the Credit Agreement (after giving effect to the amendments thereof set forth
herein) shall have the same meanings herein as therein.   

          §2.
Ratification of Existing Agreements. All of the Borrower’s obligations and
liabilities to the Creditors as evidenced by or otherwise arising under the
Credit Agreement, the Notes and the other Credit Documents, are, by the
Borrower’s execution of this Agreement, ratified and confirmed in all respects.
In addition, by the Borrower’s execution of this Agreement, the Borrower
represents and warrants that it does not have any counterclaim, right of set-off
or defense of any kind with respect to such obligations and liabilities.  

          §3.
Representations and Warranties. The Borrower hereby represents and warrants to
the Creditors that all of the representations and warranties made by the
Borrower in the Credit Agreement, the Notes and the other Credit Documents are
true in all material respects on the date hereof as if made on and as of the
date hereof, except to the extent that such representations and warranties
relate expressly to an earlier date.   

          §4.
Conditions Precedent. The effectiveness of the amendments contemplated hereby
shall be subject to the satisfaction on or before the date hereof of each of the
following conditions precedent:   

	  	          (a)
Representations and Warranties. All of the representations and warranties made
by the Borrower herein, whether directly or incorporated by reference, shall be
true and correct on the date hereof except as provided in §3 hereof.  

	  	          (b)
Performance; No Event of Default. The Borrower shall have performed and complied
in all respects with all terms and conditions herein required to be performed or
complied with by it prior to or at the time hereof, and there shall exist no
Default or Event of Default.  

	  	          (c)
Corporate Action. All requisite corporate action necessary for the valid
execution, delivery and performance by the Borrower of this Agreement and all
other instruments and documents delivered by the Borrower in connection
therewith shall have been duly and effectively taken.  

	  	          (d)
Delivery. The Borrower, the Term B Facility Lenders and the Majority Lenders
shall have executed this Agreement and delivered this Agreement to the
Administrative Agent.  

	

          §5.
Amendments to the Credit Agreement.   

	 	5.1 Amendment to
the Table of Contents. The reference to Schedule 1.01(c) of the Table of
Contents of the Credit Agreement is hereby amended in its entirety to read as
follows:   

	 	
SCHEDULE
1.01(c) - Applicable Margin After Sixth Amendment Date  

	 	5.2 Amendments
to Section 1.01.   

	  	          (a)
The following definitions appearing in Section 1.01 of the Credit Agreement are
hereby amended in their entirety to read as follows:  

	  	          “Applicable
Margin” shall be, for any Type and Class of Loan, (i) prior to the Fourth
Amendment Date, the percentage per annum set forth on Schedule 1.01(a) for such
Type and Class of Loan, (ii) on and after the Fourth Amendment Date and prior to
the Sixth Amendment Date, the Applicable Margin shall be the percentage per
annum set forth on Schedule 1.01(b) for such Type and Class of Loan, and (iii)
on and after the Sixth Amendment Date, the Applicable Margin shall be the
percentage per annum set forth on Schedule 1.01(c) for such Type and Class of
Loan.  

	  	          “Documentation
Agent” shall mean JPMorgan Chase Bank, in its capacity as documentation agent,
together with its successors in such capacity.  

	  	          (b)
The definition of “Eligible Inventory” is hereby amended by amending and
restating clause (c) thereof in its entirety to read as follows:  

	  	          (c)
it is located on real property leased by one of the Obligors or in a contract
warehouse where the fair market value (or book value, if greater) of all
Inventory located at such leased property or warehouse, as the case may be (x)
exceeds $5,000,000, or (y) when aggregated with the fair market value (or book
value, if greater) of all Inventory located at all other such locations which
are not subject to Landlord Consents, exceeds $15,000,000, unless, in either
case (i) Borrower has elected to establish a Reserve equal to three months’ rent
in respect of Inventory located at such location or (ii) it is subject to a
Landlord Consent executed by the lessor, warehouseman or other third party, as
the case may be, and unless it is segregated or otherwise separately
identifiable from goods of others, if any, stored on the premises.  

	

2  

	  	          (c)
The following new definition is hereby added to Section 1.01 of the Credit
Agreement in its proper alphabetical order to read as follows:  

	 	
“Sixth Amendment Date” shall mean June 1, 2004.  

	  	          5.3
Amendment to Section 12.04(i)(a). Section 12.04(i)(a) of the Credit Agreement is
hereby amended by deleting “(or Schedule 1.01(a) or (b))” from the twelfth line
of such Section and substituting “(or Schedule 1.01(a), (b) or (c))” therefor.  

	  	          5.4
New Schedule 1.01(c). The Credit Agreement is hereby amended by adding a new
Schedule 1.01(c) as set forth on Schedule 1 attached hereto and made a part
hereof.  

	

          §.6.
Miscellaneous Provisions.   

	  	          (a)
Except as otherwise expressly provided by this Agreement, all of the respective
terms, conditions and provisions of the Credit Agreement, the Notes and the
other Credit Documents shall remain the same. The Credit Agreement, the Notes
and the other Credit Documents, each as amended hereby, shall continue in full
force and effect, and that this Agreement and the Credit Agreement shall be read
and construed as one instrument.  

	  	          (b)
This Agreement is intended to take effect under, and shall be construed
according to and governed by, the laws of the State of New York.  

	  	          (c)
This Agreement may be executed in any number of counterparts, but all such
counterparts shall together constitute but one instrument. In making proof of
this Agreement it shall not be necessary to produce or account for more than one
counterpart signed by each party hereto by and against which enforcement hereof
is sought. A facsimile of an executed counterpart shall have the same effect as
the original executed counterpart.  

	

[Remainder of page
intentionally blank; Signature Pages follow]  

3  

	

          IN
WITNESS WHEREOF, each of the parties hereto have caused this Agreement to be
executed in its name and behalf by its duly authorized officer as of the date
first written above.   

	 	IMAGISTICS INTERNATIONAL INC. 
	 
  
	 	By: 	/s/ TIMOTHY E. COYNE

————————————————

Timothy E. Coyne

Its Chief Financial Officer 

	

	 	FLEET CAPITAL CORPORATION,

  as Administrative Agent and as a Lender 
	 
  
	 	By: 	/s/ EDGAR EZERINS

————————————————

Its Senior Vice President 

	

	 	MERRILL LYNCH CAPITAL CORPORATION,

  as a Lender 
	 
  
	 	By: 	 

————————————————

Its: 

	

	 	JPMORGAN CHASE BANK,

  as a Lender 
	 
  
	 	By: 	/s/ VALERIE SCHANZER

————————————————

Valerie Schanzer

Its: Vice President 

	

	 	PEOPLE’S BANK,

  as a Lender 
	 
  
	 	By: 	/s/ DAVID K. SHERRILL

————————————————

David K. Sherrill

Its: Vice President 

	

	 	BANK LEUMI, USA,

  as a Lender 
	 
  
	 	By: 	/s/ PAUL TINE

————————————————

Paul Tine

Its: Vice President 
	 
  
	 	By: 	/s/ GLENN KREUTZER

————————————————

Glenn Kreutzer

Its: Banking Officer 

	

	 	U.S. BANK NATIONAL ASSOCIATION,

  as a Lender 
	 
  
	 	By: 	/s/ JOSEPH P. HOWARD

————————————————

Joseph P. Howard

Its: Vice President 

	

	 	CITIZENS BANK OF MASSACHUSETTS,

  as a Lender 
	 
  
	 	By: 	/s/ CINDY CHEN

————————————————

Cindy Chen

Its: Vice President 

	

	

SCHEDULE 1   

Schedule 1.01(c)  

	 	LIBOR Loans 
	ABR Loans 

	Revolving Loans 	  	  	  	1.25 	% 	  	0.25 	% 
	  	  	  
	Term B Facility Loans 	  	  	  	1.25 	% 	  	0.25 	%Telemetrix Inc. Exhibit 10.19

Exhibit 10.19

                              Employment Agreement

     Agreement made this 15th day of June 2004, by and between Telemetrix, Inc.,
a corporation organized and existing under the laws of the State of Delaware,
with its principal office located at 300 Village Green Circle, Suite 201,
Smyrna, Georgia, 30080 referred to in this agreement as the company, and Richard
Dineley, of 1628 Four Lakes Drive, Madison, Georgia 30650, referred to in this
agreement as the employee.

                            I. EMPLOYMENT AND DUTIES

     The company  employs the employee in the capacity of President and CEO and
to perform such other duties consistent with his executive status, as may be
determined and assigned to him by the board of directors of the company.

                                 II. PERFORMANCE

     Employee agrees to devote a mutually agreed upon amount of his time and
efforts to the performance of his duties as President and CEO and to the
performance of such other duties consistent with his executive status as are
assigned to him from time to time by the directors of the company.

                                    III. TERM

     Except in the case of earlier termination, the term of this contract shall
be for twelve months, commencing June 15, 2004, and subject to performance
review in six months, giving due consideration to the company's financial
condition. This agreement may be terminated by either party during the term upon
thirty days written notice. Such notice shall be delivered as follows:

If to the Company:          with a copy to:             If to the Employee:

Geoff Girdler               Richard L. West             Richard Dineley
Telemetrix, Inc.            West Law Firm, LLC          1628 Four Lakes Drive
300 Village Green Circle    245 Park Ave., 39th Fl.     Madison, GA 30650
Smyrna, GA 30080            New York, NY 10167          (706) 752-0643 - fax
(801) 849-4802              (917) 591-3145 - fax

                                IV. COMPENSATION

     For all the services to be rendered by employee in any capacity under this
agreement, including services as President and CEO, or any other duties assigned
to him by the directors of the company, the company agrees to pay employee:

          1.   A salary of $200,000 per annum; and
          2.   A number of options to purchase 500,000 common shares of the
               company's stock upon execution of this agreement at a strike
               price equal to the fair market value of the stock at the time of
               grant. The granting of options pursuant to this agreement is
               dependent upon approval of the company's board of directors, who
               will also determine in good faith the exercise price and
               duration.

                  V. NONDISCLOSURE OF CONFIDENTIAL INFORMATION

     Employee covenants and agrees with the company that he will not, either
during the term of his employment or at any time thereafter, disclose to anyone
any confidential information concerning the business or affairs of the company.

                           VI. COVENANT NOT TO COMPETE

     The employee acknowledges that his services and responsibilities are of
particular significance to the company and that his position with the company
does and will continue to give him an intimate knowledge of its business.
Because of this, it is important to the company that the employee be restricted
from competing with the company in the event of the termination of his
employment or upon expiration of this agreement. Therefore, the employee agrees
that he shall not compete directly or indirectly with the company or its
business for a period of two years.

                          VII. CONFLICTING OBLIGATIONS

     Employee represents and warrants to company that he is not now under any
obligation of a contractual or other nature to any person, firm or corporation
which is inconsistent or in conflict with this agreement or which would prevent
him from performing his obligations under this agreement.

                                VIII. ASSIGNMENT

     The performance of this agreement shall be non-assignable by either party
without the prior written consent of both parties. Without such written consent,
any attempted assignment of this agreement shall be null and void. The rights
and obligations of this contract shall inure to and be binding upon the parties
and their respective heirs and successors.

                              IX. WAIVER OF BREACH

     The waiver by either party of a breach of any provision of this agreement
shall not operate or be construed as a waiver of any subsequent breach of this
agreement.

                        X. INVALIDITY OF PART OF CONTRACT

     Should any part of this contract for any reason be declared invalid, such
shall not affect the validity of any remaining portion of the contract, which
remaining portion shall continue in force and effect as if this contract had
been executed with such invalid portion eliminated, and it is declared the
intention of the parties that they would have executed the remaining portion of
this contract without including any such part, parts or portion which may for
any reason be declared invalid.

                          XI. MISCELLANEOUS PROVISIONS

     This agreement supersedes any and all prior written or oral agreements
between the employee and the company, and this agreement may not be changed
except by a writing executed by each party. This agreement is executed and
delivered in the State of Georgia and shall be construed and enforced in
accordance with the laws and decisions of such state. In the event of any
litigation at any time arising under this agreement, it is specifically agreed
among the parties that the venue of such litigation shall be the State of
Georgia, and such venue shall be exclusive in all events unless otherwise agreed
by the parties.

     In witness of the above, each party to this agreement has caused it to be
executed on the date(s) indicated below.

TELEMETRIX, INC.

/s/ Patrick J. Kealy                        /s/ Richard Dineley
By: Patrick J. Kealy                            Richard Dineley
Its: Chairman

Dated: July 1, 2004                         Dated: July 1, 2004

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