Modification Agreement to Promissory Note between EPIQ Systems, Inc. and Gold Bank (June 2001)

Summary

EPIQ Systems, Inc. and Gold Bank have agreed to modify the terms of a $3,500,000 promissory note originally executed on June 20, 2001. The main change is a reduction in the interest rate to Gold Bank's Prime Rate minus 0.5%, adjusted daily. All other terms of the original note remain unchanged. This modification is effective as of June 20, 2001, and applies to all related documents. Both parties have signed the agreement to confirm these changes.

EX-10.1 4 a2056152zex-10_1.txt MODIFICATION AGREEMENT EXHIBIT 10.1 GOLD BANK MODIFICATION AGREEMENT EPIQ SYSTEMS, INC. 501 KANSAS AVE. KANSAS CITY, KS 66105 Loan Number 1001008337 ---------------- On JUNE 20, 2001, the undersigned Borrower ("Borrower") executed a Promissory Note ("Note") Assumption Agreement in favor of GOLD BANK, 11301 NALL, LEAWOOD, KS 66211 ("Bank") The Note is in the principal amount of $3,500,000.00, bearing interest at THE GOLD BANK PRIME RATE to be retired in 12 MONTHLY PAYMENTS OF INTEREST ONLY AND AT MATURITY OF PRINCIPAL AND ACCRUED INTEREST DUE ON JUNE 20, 2002. Bank remains the holder and owner of the Note and has agreed with Borrower to modify certain provisions of the Note. Therefore, in connection with the provisions contained in this instrument and the exchange of other good and valuable consideration the receipt and sufficiency of which are acknowledged, Bank and Borrower agree to amend the Note as follows: _____ The face amount of the Note is changed from $__________ to $__________ _____ The payment schedule is amended as follows: ____________________ _____ The maturity date is changed to: ____________________ _____ The first payment date is changed to ____________________ X The interest rate is amended to: GOLD BANK PRIME RATE -1/2% ADJ DAILY ----- ------------------------------------ The amendment and modifications described above are carried forward and apply to any and all other documents which refer to or are in any way related to the Note. All other terms, conditions and covenants in the Note, not otherwise modified by this instrument, shall be and remain the same, and this Agreement, when executed by Bank and Borrower shall be attached to and become a part of the original Note. The date on which the above modifications become effective is JUNE 20, 2001 . EXECUTED this day of JULY , 2001 . ----- ---------- -------- GOLD BANK EPIQ Systems, Inc. "Borrower": BY: /s/ TOM W. OLOFSON ------------------------- ---------------------------------------- Kent P. Brown, Exec. Vice President BY: Tom W. Olofson, CEO MORE THAN MONEY 11301 Nall Avenue o P.O. Box 7368 o Leawood, Kansas ###-###-#### o ###-###-#### o Fax ###-###-#### o www.goldbankonline.com 1