Note Modification Allonge between Anthony W. Hooper and Insituform Technologies, Inc. (July 17, 2002)

Contract Categories: Business Finance › Modification Agreements
Summary

This agreement modifies a $200,000 promissory note originally issued by Anthony W. Hooper to Insituform Technologies, Inc. The main change is extending the note's due date from five to seven years after its original date. If laws require earlier repayment, the maker must comply. All other terms of the original note remain unchanged. Both parties confirm that this written modification, along with the original note, represents their complete agreement unless further changes are made in writing.

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EX-10.1 3 c71101exv10w1.txt NOTE MODIFICATION ALLONGE EXECUTED JULY 17, 2002 EXHIBIT 10.1 NOTE MODIFICATION ALLONGE The $200,000 Promissory Note (the "NOTE"), dated September 24, 1997, made by Anthony W. Hooper (the "MAKER") in favor of Insituform Technologies, Inc. (the "CORPORATION") is hereby amended and modified to change the due date from the "fifth anniversary" of the date of the Note to the "seventh anniversary" of the date of the Note. If any change in applicable law would require the Note to be repaid prior to the scheduled due date, then Maker will comply with such law. Except as hereby modified, the Note shall remain in full force and effect, and Maker hereby ratifies the Note as so modified. ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT, INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT, ARE NOT ENFORCEABLE. TO PROTECT MAKER AND CORPORATION FROM MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS THEY REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS WRITING (AND THE NOTE), WHICH ARE THE COMPLETE AND EXCLUSIVE STATEMENTS OF THE AGREEMENT BETWEEN THEM, EXCEPT AS THEY MAY LATER AGREE IN WRITING TO MODIFY THEM. IN WITNESS WHEREOF, the undersigned have executed this Note Modification Allonge on July 17, 2002. /s/ Anthony W. Hooper ------------------------------------ Anthony W. Hooper Insituform Technologies, Inc. By: /s/ Stephen P. Cortinovis ------------------------------------ Stephen P. Cortinovis, Chair of the Compensation Committee of the Board of Directors