Document:

Exhibit 4

Exhibit 4.33

April     , 2002

 

EpicEdge, Inc.

5508 Hwy. 290 West

Suite 300

Austin, Texas 78735

 

Re:          Waiver Letter

 

Ladies and Gentlemen:

 

Reference is

hereby made to that certain (a) Stock Purchase Agreement dated as of February

18, 2000, among the Company, Edgewater Private Equity Fund III, L.P.

(“Edgewater”), Fleck T.I.M.E. Fund, LP (“TIME”) and certain other parties

thereto (the “February Purchase Agreement”), (b) Convertible Bridge Loan

Agreement dated as of July 21, 2000, among the Company, Edgewater and TIME (the

“July Loan Agreement”), (c) Stock Purchase Agreement dated as of September 29,

2000, among the Company, Edgewater and TIME (the “September Purchase

Agreement”), and (d) Amendment to Convertible Promissory Note dated as of July

20, 2001, between the Company and Edgewater (the “Amendment to Note”; and,

together with the February Purchase Agreement, the September Purchase Agreement

and the July Loan Agreement, the “Investor Documents”).  Capitalized terms used but not defined

herein shall have the meanings assigned to such terms in the Investor

Documents, as appropriate.

 

Notwithstanding

anything to the contrary contained in the Investor Documents, the parties

hereto hereby acknowledge and agree as follows:

 

1.             Edgewater and TIME

hereby waive their respective rights to declare an “Event of Default” under the

February Purchase Agreement, the September Purchase Agreement and the July Loan

Agreement based on any breaches or defaults existing on the date hereof and

listed on Exhibit A attached hereto and made a part hereof (the

“Defaults”).  Furthermore, Edgewater and

TIME hereby waive such Defaults.

 

2.             Edgewater and TIME

hereby agree to refrain from exercising the Put under Section 6.4(a) of the

February Purchase Agreement and the September Purchase Agreement.

 

 

3.             Edgewater and TIME

hereby agree to waive the 10% penalty fee under the Amendment to Note and the

right to receive any default rate of interest on the Loans under the July Loan

Agreement to which they otherwise may be entitled as a result of the Defaults.

 

2

 

4.             This Side Letter

may be executed in multiple counterparts, each of which shall be deemed an

original and all of which taken together shall constitute a single

instrument.  One or more counterparts

may be delivered by facsimile, with the intention that delivery by such means

shall have the same effect as delivery of an original counterpart thereof.

 

5.             This Side Letter

shall be governed by, and construed and enforced in accordance with, the

internal laws of the State of Illinois applicable to contracts made and

performed in such State, without giving effect to the principles of conflicts

of law.

 

If the

foregoing satisfactorily reflects your understanding of the subject matter

contained herein, please confirm by dating and executing this Side Letter in

the space provided below.

 

	

   

  	

  Very truly

  yours,

  
	

   

  	

   

  
	

   

  	

  Edgewater

  Private Equity Fund III, L.P.

  
	

   

  	

   

  
	

   

  	

   By:

  	

   

  	

  Edgewater

  III Management, L.P.

  	 

	

   

  	

   Its:

  	

   

  	

  General

  Partner

  	 

	

   

  	

   

  	

   

  	

   

  	 

	

   

  	

   By:

  	

   

  	

  Gordon

  Management, Inc.

  	 

	

   

  	

   Its:

  	

   

  	

  General

  Partner

  	 

	

   

  	

   

  	

   

  	 

	

   

  	

   By:

  	

   

  	 

	

   

  	

   Its:

  	

   

  	 

	

   

  	

   

  	

   

  	 

	

   

  	

  Fleck

  T.I.M.E. Fund, L.P.

  	 

	

   

  	

   

  	

   

  	 

	

   

  	

   By:

  	

   

  	 

	

   

  	

   Its:

  	

   

  	 

	

  AGREED AND

  ACCEPTED AS OF THE

  	 

	

       DAY OF APRIL, 2002

  	 

	

   

  	

   

  	 

	

  EPICEDGE,

  INC.

  	

   

  	 

	

   

  	

   

  	 

	

  By:

  	

   

  	

   

  	 

	

  Name:

  	

   

  	

   

  	 

	

  Its:

  	

   

  	

   

  	 

									

 

3

 

EXHIBIT A

 

Defaults

 

Capitalized

terms not otherwise defined herein shall have the meanings assigned to such

terms in the Investor Documents, as appropriate.

 

1.             Pursuant to Section

6.1(a) of the February Purchase Agreement and the September Purchase Agreement,

a breach of Section 5.3(i) of the February Purchase Agreement and the September

Purchase Agreement and Section 9(e) of the July Loan Agreement due to the

Company becoming liable for Indebtedness in excess of $6,000,000, without the

prior written consent of the Investor Representative, in connection with

entering into that certain Letter Agreement dated as of July 31, 2001 (the

“Letter Agreement”), among the Company, TIME and John Paul DeJoria.

 

2.             Pursuant to Section

6.1(a) of the February Purchase Agreement and the September Purchase Agreement,

a breach of Section 5.3(f) of the February Purchase Agreement and the September

Purchase Agreement and Section 9(e) of the July Loan Agreement due to the

Company incurring a liability to make a Stock Purchase in connection with

entering into the Letter Agreement without the prior written consent of the

Investor Representative.

 

3.             Pursuant to Section

6.1(c) of the February Purchase Agreement and the September Purchase Agreement

and Section 9(e) of the July Loan Agreement, the failure by the Company to

register shares of Common Stock requested to be registered by Edgewater and

TIME pursuant to the terms of the Registration Agreement.

 

4.             A breach of

Sections 9(a) and (b) of the July Loan Agreement due to the failure by the

Company to pay amounts due under the July Loan Agreement and the Notes when

due.

 

5.             Any other breaches

or defaults of which Edgewater and TIME are aware as of the date hereof.

 

6.             To the extent that

a breach of or default under any other contract to which the Company is a party

constitutes an “Event of Default” under the February Purchase Agreement, the

September Purchase Agreement and the July Loan Agreement, the information

disclosed in the Disclosure Schedule attached as Exhibit A to the Note and

Preferred Stock Purchase Agreement of even date herewith, including the

information disclosed in Schedule 3.9 of such schedule, is hereby incorporated

by reference into this Exhibit A.Edgewater/Epic - Real termination agreement

EXHIBIT 4.34

 

TERMINATION AGREEMENT

 

THIS

TERMINATION AGREEMENT  (this

“Agreement”) is entered into as of April         , 2002, by and among EpicEdge, Inc. (the “Company”), Carl

Rose (“Rose”), Charles Leaver (“Leaver”), Jeff Sexton (“Sexton”), Edgewater Private

Equity Fund III, L.P. (“Edgewater”), Aspen Finance Investors I, LLC (“Aspen”),

Fleck T.I.M.E. Fund, LP (“TIME”), Fleck Family Partnership II, LP (“Fleck

Family”; and, together with Rose, Leaver, Sexton, Edgewater, Aspen and TIME,

the “Shareholders”).

 

WHEREAS, the

Company and the Shareholders entered into a certain Shareholders’ Agreement

dated as of September 29, 2000 (the “Shareholders’ Agreement”); and

 

WHEREAS, the

Shareholders and the Company wish to terminate the Shareholders’ Agreement.

 

NOW THEREFORE,

in consideration of the following covenants and agreements and for other good

and valuable consideration, the receipt and sufficiency of which is hereby

acknowledged, the parties agree as follows:

 

1.             Termination. 

The Shareholders and the Company hereby agree to terminate the

Shareholders’ Agreement.  The

Shareholders and the Company agree that the Shareholders’ Agreement shall be

deemed null and void as of the date hereof and that any and all rights and obligations

of any party thereto arising heretofore or hereafter under the Shareholders’

Agreement are hereby extinguished and terminated.

 

2.             Counterparts. 

This Agreement may be executed on separate counterparts, each of which

shall be deemed to be an original and all of which taken together shall

constitute one and the same agreement. One or more executed counterparts of

this Agreement may be delivered by facsimile, which shall have the same force

and effect as delivery of an original counterpart hereof.

 

3.             Successors and Assigns.  This Agreement is intended to bind and inure to the benefit of

and be enforceable against the parties hereto and their respective successors,

assigns, heirs, legatees, personal representatives and transferees, as the case

may be.

 

4.             Choice of Law. 

The law of the State of Illinois shall govern all questions concerning

the construction, validity and interpretation of this Agreement and the

exhibits hereto, without giving effect to any choice of law or conflict of laws

rules or provisions.

 

5.             Entire Agreement.  This Agreement constitutes the entire agreement between the

parties hereto with regard to the subject matter hereof, superseding all prior

understandings and agreements whether written or oral.  This Agreement may not be amended or revised

except by a writing signed by the parties.

 

[SIGNATURE PAGE FOLLOWS]

 

 

IN WITNESS

WHEREOF, the undersigned have executed this Termination Agreement as of the

date first above written.

 

 

	

  EPICEDGE,

  INC., a Texas corporation

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  By:

  	

   

  	

   

  	

   

  	

   

  
	

  Its:

  	

   

  	

   

  	

  Carl Rose

  
	

   

   

  	

   

  	

   

  
	

  EDGEWATER

  PRIVATE EQUITY FUND

  	

   

  	

   

  
	

  III, L.P.

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  By:

  	

  Edgewater

  III Management, L.P.

  	

   

  	

   

  	

   

  
	

  Its:

  	

  General

  Partner

  	

   

  	

  Charles

  Leaver

  
	

   

  	

   

  	

   

  	

   

  
	

  By:

  	

  Gordon

  Management, Inc.

  	

   

  	

   

  
	

  Its:

  	

  General

  Partner

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  By:

  	

   

  	

   

  	

   

  	

   

  
	

  Its:

  	

   

  	

   

  	

  Jeff Sexton

  
	

   

   

  	

   

  	

   

  
	

  ASPEN

  FINANCE INVESTORS I, LLC, a

  	

   

  	

   

  
	

  Colorado limited

  liability company

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  By:

  	

   

  	

   

  	

   

  
	

  Its:

  	

  Manager

  	

   

  	

   

  
	

   

   

  	

   

  	

   

  
	

  FLECK

  T.I.M.E. FUND, L.P., a Connecticut

  	

   

  	

   

  
	

  limited

  partnership

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  By:

  	

   

  	

   

  	

   

  
	

  Its:

  	

  Managing

  Partner

  	

   

  	

   

  
	

   

   

  	

   

  	

   

  
	

  FLECK FAMILY

  PARTNERSHIP II, L.P., a

  	

   

  	

   

  
	

  Florida

  limited partnership

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  By:

  	

   

  	

   

  	

   

  
	

  Its:

  	

  Managing

  Partner

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