Document:

Prepared by R.R. Donnelley Financial -- GUARANTEE MODIFICATION AGREEMENT

 EXHIBIT 10.2 
  
 GUARANTEE
MODIFICATION AGREEMENT (NO. 1) 
  
 GUARANTEE MODIFICATION AGREEMENT (NO. 1) dated as of April 29, 2002 by and between LIONBRIDGE
TECHNOLOGIES, INC., a Delaware corporation (the “Guarantor”), and SILICON VALLEY BANK (the “Bank”), a California chartered bank with its principal place of business at 3003 Tasman Drive, Santa Clara, California
95054, and with a loan production office located at One Newton Executive Park, 2221 Washington Street, Suite 200, Newton, Massachusetts 02462, doing business under the name “Silicon Valley East”. 
  
 WHEREAS, pursuant to that certain Guarantee dated as of June 28, 2001 (the “Guarantee”), the Guarantor has guaranteed the full payment
and performance of all obligations of INT’L.com, Inc., International Language Engineering Corporation, Harvard Translations, Inc., Lionbridge Technologies California, Inc. and Data Dimensions, Inc. (collectively, the
“Borrowers”) to the Bank, including the obligations of the Borrowers under that certain Loan and Security Agreement, dated as of June 28, 2001, between the Borrowers and the Bank, as heretofore amended (as so amended, the
“Loan Agreement”); 
  
 WHEREAS, the parties to the Loan Agreement propose to amend its terms and provisions
pursuant to a Loan Document Modification Agreement (No. 2) to be dated of even date herewith (“Modification No. 2”) between the Borrowers and the Bank; 
  
 WHEREAS, it is a condition precedent to the effectiveness of Modification No. 2 that the Guarantor execute and deliver this Agreement; 
  
 WHEREAS, the Guarantor is the ultimate corporate parent of each of the Borrowers and will benefit directly and indirectly from Modification No. 2 and
the advances and other extensions of credit available to the Borrowers under the Loan Agreement as amended thereby; 
  
 NOW,
THEREFORE, in consideration of the premises and to induce the Bank to enter into Modification No. 2, the Guarantor hereby agrees with the Bank as follows: 
  
 1.    Description of Change in Terms. 
  
 Effective as of the date first set forth above, the
Guarantee is hereby modified in the following respects: 
  
 The first preamble to the Guarantee is amended and restated in its entirety to read as follows:

  
 “WHEREAS, pursuant to the Loan and Security Agreement dated as of June 28, 2001 among INT’L.com, Inc., International
Language Engineering Corporation, Harvard Translations, Inc. and Lionbridge Technologies California, Inc. (collectively, the “Original Borrowers”) and the Bank, as amended by that certain Loan Document Modification Agreement (No. 1)
dated as of April 29, 2002 among the Original Borrowers, Data Dimensions, Inc. (together “the Borrowers”) and the Bank (as amended and hereafter in effect, the “Loan Agreement”), the Bank has agreed, subject to the
terms and conditions thereof, to make credit extensions to the Borrowers;” 
  
 Section 13(b) of the Guarantee is amended and restated in its entirety
to read as follows: 
  
 “Tangible Net Worth. The Guarantor will not permit its Tangible Net Worth at the end of the
following calendar months to be less than the amount set forth below opposite such calendar month, plus (i) 80% of all proceeds in excess of $10,000,000 resulting from the issuance and sale of common or preferred stock or subordinated debt of
the 
 

 
Guarantor during the period commencing March [1], 2002 and ending April 30, 2002, plus (ii) 80% of all proceeds resulting from the issuance and sale of common or preferred stock or subordinated
debt of the Guarantor on or after May 1, 2002. 
  
 
	 Calendar Months Ending
 
	  	 Minimum Tangible Net Worth
 

	 March 1, 2002—March 31, 2002
 	  	 $2,500,000
 
	 April 1, 2002—June 30, 2002
 	  	 $2,000,000
 
	 July 1, 2002—September 30, 2002
 	  	 $2,000,000
 
	 October 1, 2002—December 31, 2002
 	  	 $2,500,000
 
	 January 31, 2003 and thereafter
 	  	 $3,000,000”
 

 
  
 Continuing Validity. 
  
 Upon the effectiveness hereof, each reference in the Loan Documents to “the Parent Guarantee” or the “Guarantee”, and each use of the word “thereunder”,
“thereof”, “therein”, or words of like import referencing the Guarantee shall (except with reference to the Guarantee by the Guarantor of the obligations of the Foreign Borrowers, as defined in the Loan Agreement) mean and be a
reference to the Guarantee, as amended hereby. Except as specifically set forth above, the Guarantee shall remain in full force and effect and is hereby ratified and confirmed. The Guarantor represents and warrants that (i) no Default (as defined in
the Loan Agreement), other than the failure to comply with the tangible net worth requirement set forth in Section 13(b) of the Guarantee for the months ended November 30 and December 31, 2001, and January 31, February 28 and March 31, 2002, has
occurred and is continuing on the date hereof, and (ii) the representations and warranties of the Guarantor set forth in the Guarantee are true and correct as of the date hereof. 
  
 Miscellaneous. 
  
 This Agreement may be signed in one or more counterparts each of which taken together shall constitute
one and the same document. 
  
 WAIVER OF JURY TRIAL.    THE GUARANTOR AND THE BANK EACH HEREBY EXPRESSLY WAIVES ANY RIGHT IT MAY
NOW OR HEREAFTER HAVE TO A JURY TRIAL IN ANY SUIT, ACTION, PROCEEDING OR COUNTERCLAIM WHICH ARISES OUT OF, BASED UPON OR BY REASON OF THIS AGREEMENT. THE PROVISIONS OF THIS PARAGRAPH HAVE BEEN FULLY DISCUSSED BY THE BANK AND THE GUARANTOR, AND SHALL
BE SUBJECT TO NO EXCEPTIONS. 
  
 GOVERNING LAW.    THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE COMMONWEALTH OF MASSACHUSETTS, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. 
  
 CONSENT TO JURISDICTION.    THE
GUARANTOR ACCEPTS FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION IN THE COMMONWEALTH OF MASSACHUSETTS IN ANY ACTION, SUIT OR
PROCEEDING OF ANY KIND AGAINST IT WHICH ARISES OUT OF OR BY REASON OF THIS AGREEMENT; PROVIDED, HOWEVER, THAT IF FOR ANY REASON LENDER CANNOT AVAIL ITSELF OF THE COURTS OF THE COMMONWEALTH OF MASSACHUSETTS, THEN VENUE SHALL LIE IN SANTA CLARA
COUNTY, CALIFORNIA. 
  
 The Guarantor agrees to promptly pay on demand all costs and expenses of the Bank in connection with the preparation, reproduction,
execution and delivery of this Modification No. 1, including the reasonable fees and out-of-pocket expenses of Sullivan & Worcester, special counsel for the Bank with respect thereto. 
  
 [Remainder of page intentionally left blank] 
 

 IN WITNESS WHEREOF, the Bank and the Guarantor have caused this Agreement to be signed under seal by their respective duly authorized
officers as of the date set forth above. 
  
 
	  	 	 LIONBRIDGE TECHNOLOGIES, INC.
 
	  	 	  
	  	 	  
	 By:
 	 	 

	  	 	 Name: Rory J. Cowan
 
	  	 	 Title: President and Chief Executive Officer
 
	  	 	  
	  	 	  
	  	 	 SILICON VALLEY EAST, a Division of Silicon Valley Bank
 
	  	 	  
	  	 	  
	 By:
 	 	 

	  	 	 Name: John D. Gaziano, Jr.
 
	  	 	 Title: Senior Relationship Manager
 
	  	 	  
	  	 	  
	  	 	 SILICON VALLEY BANK
 
	  	 	  
	  	 	  
	 By:
 	 	 

	  	 	 Name:
 
	  	 	 Title:
 
	  	 	 (signed in Santa Clara, CA)
 

 
  
  
 CONSENT 
  
 The undersigned, as Borrowers under that certain Loan and Security Agreement dated as of June 28, 2001 (the “Loan Agreement”) with
Silicon Valley Bank (the “Bank”), hereby ratifies and confirms the Loan Agreement in all respects, which shall continue to be in full force and effect except that, upon the effectiveness of, and on and after the effective date of,
the Guarantee Modification (No. 1) (the “Modification”), each reference in the Loan Agreement and in each other Loan Document (as defined in Loan Agreement) to which the undersigned is a party, to “the Guarantee” or
“the Parent Guarantee” “thereunder”, “thereof”, “therein”, or words of like import referring to the Guarantee (except with reference to the Guarantee by the Guarantor of the obligations of the Foreign
Borrowers, as defined in the Loan Agreement), shall mean and be a reference to the Guarantee, as amended by the Modification. 
  
 Date: April 29, 2002 
  
 
	 INT’L.com, Inc.
 
	 
	 By:
 	 	 

	  	 	 Rory J. Cowan
 Chief Executive Officer
 

 
 

 
	  	 	 INTERNATIONAL LANGUAGE ENGINEERING CORPORATION
 
	  	 	  
	  	 	  
	 By
 	 	 

	  	 	 Rory J. Cowan
 
	  	 	 Chief Executive Officer
 
	  	 	  
	  	 	  
	  	 	 HARVARD TRANSLATIONS, INC.
 
	  	 	  
	  	 	  
	 By
 	 	 

	  	 	 Rory J. Cowan
 
	  	 	 President
 
	  	 	  
	  	 	  
	  	 	 LIONBRIDGE TECHNOLOGIES CALIFORNIA, INC.
 
	  	 	  
	  	 	  
	 By
 	 	 

	  	 	 Rory J. Cowan
 
	  	 	 Chief Executive Officer
 
	  	 	  
	  	 	  
	  	 	 DATA DIMENSIONS, INC.
 
	  	 	  
	  	 	  
	 By:
 	 	 

	  	 	 Name: Rory J. Cowan
 
	  	 	 Title: Chief Executive OfficerPrepared by R.R. Donnelley Financial -- AMENDED AND RESTATED PROMISSORY NOTE

  
 EXHIBIT 10.3 
  
 AMENDED AND RESTATED PROMISSORY NOTE 
  
 
	 U.S. $10,000,000.00
 	 	 Boston, MA
 As of April 29, 2002
 (Originally dated as of June 28,
2001,
 and amended and restated as of September 24, 2001)
 

 
  
 FOR VALUE RECEIVED, the undersigned (the “Borrowers”), jointly
and severally, absolutely and unconditionally promise to pay to the order of Silicon Valley Bank (“Payee”) at the head office of Payee at 3003 Tasman Drive, Santa Clara, California 95054: 
  
 (a)  on April 1, 2003, the principal amount of TEN MILLION U.S. DOLLARS (U.S. $10,000,000.00) or, if less, the aggregate unpaid principal
amount of Loans made by Payee to the Borrowers pursuant to the Loan and Security Agreement dated as of June 28, 2001, as amended by that Loan Document Modification Agreement (No. 1) dated as of September 24, 2001 and that Loan Document Modification
Agreement (No. 2) of even date herewith, as the same may be further amended or supplemented from time to time (as so amended, the “Loan Agreement”), by and among the Borrowers and Payee; and 
  
 (b) interest on the principal balance hereof from time to time outstanding from the date hereof through and including the date on which such principal
amount is paid in full, at the times and at the rates provided in the Loan Agreement. 
  
 This Note evidences borrowings under, is
subject to the terms and conditions of and has been issued by the Borrowers in accordance with the terms of, the Loan Agreement and is the Note referred to therein. This promissory note amends and restates in its entirety the terms and obligations
of the Borrowers under that certain Amended and Restated Promissory Note dated as of September 24, 2001 (the “Preceding Note”) by the Borrowers to the order of Payee and is issued in substitution therefor and is an amendment and
replacement thereof. Nothing herein or in any other document shall be construed to constitute payment of the Preceding Note or to release or terminate any guaranty, lien, mortgage, pledge or other security interest in favor of Payee. 

 
 Payee and any holder hereof is entitled to the benefits and subject to the conditions of the Loan Agreement and may enforce the agreements of
the Borrowers contained therein, and any holder hereof may exercise the respective remedies provided for thereby or otherwise available in respect thereof, all in accordance with the respective terms thereof. 
  
 All capitalized terms used in this Note and not otherwise defined herein shall have the same meanings herein as in the Loan Agreement. 

 
 This Note may be prepaid at any time, in whole or in part, without premium or penalty. Any prepayment of principal shall be accompanied by a
payment of accrued interest in respect of the principal being prepaid. 
  
 If any Event of Default shall occur and be continuing,
Payee may declare any or all obligations or liabilities of the Borrowers to Payee (including the unpaid principal hereunder and any interest due thereon) immediately due and payable without presentment, demand, protest or notice. 

  
 The Borrowers hereby waive presentment, demand, notice, protest and all other demands and
notice in connection with the delivery, acceptance, performance, default or enforcement of this Note, assent to any extension or postponement of the time of payment or any other indulgence, to any substitution, exchange or release of collateral and
to the addition or release of any other party or Person primarily or secondarily liable. 
  
 This Note shall be governed by,
construed in accordance with, and deemed to take effect as a sealed instrument under, the internal laws of The Commonwealth of Massachusetts, without regard to principles of conflicts of law. Each of the Borrowers hereby submits to the exclusive
jurisdiction of the state and federal courts located in The Commonwealth of Massachusetts and in the County of Santa Clara, State of California in connection with any suit under or in connection with this Note. The Borrowers irrevocably waive any
objection which they may now or hereafter have to the laying of venue of any such action brought in the courts referred to in the preceding sentence and irrevocably waive and agree not to plead or claim in any such action that such action has been
brought in an inconvenient forum. 
  
 THE BORROWERS HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF
ACTION BASED UPON OR ARISING OUT OF ANY OF THE LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. EACH BORROWER RECOGNIZES AND
AGREES THAT THE FOREGOING WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR PAYEE TO ACCEPT THIS NOTE. EACH BORROWER REPRESENTS AND WARRANTS THAT IS HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY
TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 
 

  
 IN WITNESS WHEREOF, the Borrowers have caused this Note to be signed under seal by their duly
authorized officers as of the day and year first above written. 
  
  
 
	 INT’L.COM, INC.
 
	 
	 By:
 	 	 

	  	 	 Rory J. Cowan
 Chief Executive Officer
 

 
  
 
	 INTERNATIONAL LANGUAGE ENGINEERING CORPORATION
 
	 
	 By:
 	 	 

	  	 	 Rory J. Cowan
 Chief Executive Officer
 

 
  
 
	 HARVARD TANSLATIONS, INC.
 
	 
	 By:
 	 	 

	  	 	 Rory J. Cowan
 President
 

 
  
 
	 LIONBRIDGE TECHNOLOGIES CALIFORNIA, INC.
 
	 
	 By:
 	 	 

	  	 	 Rory J. Cowan
 Chief Executive Officer
 

 
  
 
	 CHIEF EXECUTIVE OFFICER
 
	 
	 By:
 	 	 

	  	 	 Rory J. Cowan
 Chief Executive Officer

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