Document:

exh10-2541_16709.htm

 

EXHIBIT 10.25.4.1

 

AMENDMENT NO. 1 TO WARRANT

 

 

This Amendment No. 1 to Warrant (“Amendment”), is made, delivered, and effective as of July 19, 2010 by and between NEXX SYSTEMS, INC., a Delaware corporation (“Borrower”) and COMERICA VENTURES INCORPORATED, a California corporation, as assignee of Comerica Bank, a Texas banking association (“Comerica”) in order to amend the Warrant to Purchase Stock dated June 25, 2010 issued by Borrower to Comerica Bank (“Warrant”).

 

For valuable consideration, Borrower and Comerica agree as follows:

 

1. Section 1.1 of the Warrant is amended and restated in its entirety to read as follows:

 

(i) The Warrant Price per share shall equal the valuation as of June 30, 2010 of the fair market value per share of the Company’s Common Stock as determined by a third party retained by the Company to value its Common Stock in connection with complying with Section 409A of the Internal Revenue Code of 1986, as amended, provided that in all events, such a valuation shall be obtained on or before August 1, 2010; and (ii) the number of shares which the Holder may purchase under the terms of this Warrant shall equal 600,000 divided by the Warrant Price determined under the preceding clause (i).

 

2. Section 1.7 of the Warrant is amended by inserting the following at the beginning of such Section 1.7:

 

A “Sale of the Company” shall  mean (y) a  merger or consolidation of the Company, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or the parent of such corporation) at least 50% of the total voting power represented by the voting securities of the Company or such surviving entity or parent of such corporation outstanding immediately after such merger or consolidation, or (z) the stockholders of the Company approve an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets. In the event of any Sale of the Company (whether before or after a Qualified IPO), upon exercise of this Warrant the Shares to be issued hereunder shall be subject to all of the terms and conditions (including any escrow and other conditions) to which all other holders of the Company’s Common Stock are then subject).  If the Sale of the Company results in holders of the Company’s Common Stock receiving shares of the acquiring company or consideration other than cash, then the fair market value of the consideration received shall be determined by the Company’s Board of Directors, which determination shall be final and binding upon the Holder.

3. Section 2.4 of the Warrant is amended by inserting the following at the beginning of such Section 2.4:

 

A “Qualified IPO” shall mean an initial public offering of the Company’s Common Stock on terms and conditions approved by the Company’s Board of Directors.

4. This Amendment is not an agreement to any further or other amendment of the Warrant.  Borrower and Comerica expressly acknowledge and agree that except as expressly amended in this Amendment, the Warrant, as amended, remains in full force and effect and is ratified and confirmed. In the event that the valuation described under Section 1 above is not completed on or before August 1, 2010, this Amendment shall be null and void and the Warrant shall continue in full force and effect in accordance with its original terms.

 

  

  

  

This Amendment No. 1 to Warrant is executed and delivered as of the date first written above.

 

	
NEXX SYSTEMS, INC.

 

 

By:  /s/ Stanley Piekos                         

Name:  Stanley Piekos

Title:  Chief Financial Officer

 

	
COMERICA VENTURES INCORPORATED

 

 

By:  /s/ LaReeda Rentie                       

Name:   LaReeda Rentie

Title:  First Level Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

-2-Unassociated Document

EXHIBIT 10.25.4.2

 

 

 

AMENDMENT NO. 2 TO WARRANT

 

This Amendment No. 2 to Warrant (“Amendment”), is made, delivered, and effective as of the Effective Date by and between NEXX SYSTEMS, INC., a Delaware corporation (“Borrower”) and COMERICA VENTURES INCORPORATED, a California corporation, as assignee of Comerica Bank, a Texas banking association (“Comerica”) in order to amend the Warrant to Purchase Stock dated June 25, 2010 issued by Borrower to Comerica Bank, as amended by Amendment No. 1 to Warrant dated July 19, 2010 (“Warrant”).

 

For valuable consideration, Borrower and Comerica agree as follows:

 

1. Section 2.4 of the Warrant and Section 3 of Amendment No. 1 to Warrant are hereby deleted.

 

2.  This Amendment is not an agreement to any further or other amendment of the Warrant.  Borrower and Comerica expressly acknowledge and agree that except as expressly amended in this Amendment, the Warrant, as amended, remains in full force and effect and is ratified and confirmed.

 

This Amendment No. 2 to Warrant is executed and delivered as of the date first written above.

 

 

	NEXX SYSTEMS, INC.	 	COMERICA VENTURES INCORPORATED
	 	 	 
	 	 	 
	By:  /s/ Stanley Piekos	 	By:  /s/ LaReeda Rentie
	 
Name:   Stanley Piekos 

	 	Name:   LaReeda Rentie
	Title:     Chief Financial Officer	 	Title:     First Level OfficerUnassociated Document

EXHIBIT 10.25.5

 

 

FIRST MODIFICATION TO CREDIT AGREEMENT

 

This First Modification to Credit Agreement (this “Modification”) is entered into by and between Nexx Systems, Inc., a Delaware corporation (“Borrower”) and Comerica Bank, a Texas banking association (“Bank”) as of this July 1, 2010.

 

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 Credit Agreement dated June 25, 2010.  The Credit 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

 

1. 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.

 

2. 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.

 

(a) The definition of “Maturity Date” set forth in Section 1.1 of the Agreement is amended entirely to read as follows:

 

“ ‘Maturity Date’ means December 1, 2013, or any earlier date that the Term Note shall become due and payable by acceleration, demand or otherwise.”

 

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

 

4. 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.

 

The parties have executed and delivered the First Modification to Credit Agreement as of the date first set forth above.

 

	
Nexx Systems, Inc.

 

 

By:  /s/ Stanley Piekos                              

Name:  Stanley Piekos

Title:  Chief Financial Officer

	
Comerica Bank

 

 

By:  /s/ Steven J. Stuckey                         

Name:  Steven J. Stuckey

Title:  Senior Vice PresidentUnassociated Document

EXHIBIT 10.25.5.1

 

 

AMENDMENT NO. 1 TO NOTE

 

This Amendment No. 1 to Note (“Amendment”), is made, delivered, and effective as of July 1, 2010 by and between Nexx Systems, Inc., a Delaware corporation (“Borrower”) and Comerica Bank, a Texas banking association (“Bank”) in order to amend the $5,000,000 Term Note dated June 25, 2010, made by Borrower to Bank (“Note”).

 

For valuable consideration, Borrower and Bank agree as follows:

 

1. The first paragraph of the Note is amended entirely to read as follows:

 

FOR VALUE RECEIVED, the undersigned, NEXX SYSTEMS, INC., a Delaware corporation, promises to pay to the order of COMERICA BANK (the “Bank”) at San Diego, California, the principal sum of Five Million and 00/100 Dollars ($5,000,000.00) in consecutive monthly installments of principal in the amount of One Hundred Thirty Eight Thousand Eight Hundred Eighty Eight and 89/100 Dollars ($138,888.89) each, commencing January 1, 2011, and on the first day of each month thereafter and all outstanding principal and accrued but unpaid interest shall be due and payable on the Maturity Date.

 

2. This Amendment is not an agreement to any further or other amendment of the Note.  Borrower expressly acknowledges and agrees that except as expressly amended in this Amendment, the Note, as amended, remains in full force and effect and is ratified and confirmed.  The execution of this Amendment shall not be deemed to be a waiver of any Default or Event of Default.

 

3. All the terms used in this Amendment which are defined in the Note shall have the same meaning as used in the Note, unless otherwise defined in this Amendment.

 

This Amendment No. 1 to Note is executed and delivered as of the Effective Date.

 

 

	
Nexx Systems, Inc.

 

 

By:  /s/ Stanley Piekos                       

Name:  Stanley Piekos

Title:  Chief Financial Officer

 

	
Comerica Bank

 

 

By:  /s/ Steven J. Stuckey                       

Name:  Steven J. Stuckey

Title:  Senior Vice President

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