Stock Repurchase Agreement between E-Stamp Corporation and Bo Ewald (October 23, 2000)

Summary

E-Stamp Corporation and Bo Ewald agree that E-Stamp will repurchase 878,906 shares of its common stock from Ewald for $632,812.32. The payment will be made by reducing Ewald's outstanding principal under a previous promissory note. Ewald remains responsible for the remaining balance and interest on the note, and E-Stamp will hold other shares as security for this obligation. This agreement does not affect Ewald's obligations under a separate promissory note dated January 14, 2000.

EX-10.29 3 0003.txt LETTER BETWEEN COMPANY & EWALD Exhibit 10.29 October 23, 2000 Bo Ewald RE: Repurchase of Restricted Stock Dear Bo: This letter sets forth the agreement between you and E-Stamp Corporation ("E-Stamp") regarding the repurchase of 878,906 shares of common stock of E-Stamp ("Shares") registered in your name and currently subject to a right of repurchase by E-Stamp pursuant to the terms of the Restricted Stock Repurchase Agreement dated May 30, 1999 ("Repurchase Agreement"). Effective as of the date of this letter, you hereby transfer and sell to E-Stamp, and E-Stamp repurchases from you, the Shares for a purchase price equal to $632,812.32. E-Stamp will pay the purchase price through a set-off against your obligation to pay principal under the Promissory Note dated May 30, 1999 in the original principal amount of $1,102,500. Except as otherwise provided herein, the repurchase of the Shares will be effected pursuant to the terms of the Repurchase Agreement. You will continue to be responsible for the payment of the remaining principal amount of $469,687.68 and all accrued but unpaid interest under the Promissory Note. Pursuant to the term of the Repurchase Agreement, the remaining 652,344 shares acquired by you on May 30, 1999 will be held by E-Stamp as security for the performance of your remaining obligations under the Promissory Note Nothing herein shall affect in any manner your obligations under that certain Promissory Note dated January 14, 2000 in the original principal sum of $409,962.00. Bo Ewald October 23, 2000 Page 2 If you agree with the foregoing, please sign in the space provided below. Sincerely, /s/ Edward Malysz Edward Malysz, Vice President, General Counsel Agreed as of the date first set forth above: /s/ Robert H. Ewald ------------------- Robert H. Ewald