Stock Repurchase Agreement Between E-Stamp Corporation and Ed Malysz

Summary

This agreement is between E-Stamp Corporation and Ed Malysz regarding the repurchase of 128,906 shares of E-Stamp common stock previously issued to Malysz. E-Stamp will buy back these shares for $154,687.20, which will be applied as a set-off against Malysz's outstanding loan principal. Malysz remains responsible for the remaining loan balance and interest. The remaining shares he holds will serve as security for his ongoing obligations. The agreement is effective as of October 23, 2000, and is signed by both parties.

EX-10.31 5 0005.txt LETTER BETWEEN COMPANY & MALYSZ Exhibit 10.31 October 23, 2000 Ed Malysz RE: Repurchase of Restricted Stock Dear Ed: This letter sets forth the agreement between you and E-Stamp Corporation ("E-Stamp") regarding the repurchase of 128,906 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 August 1, 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 $154,687.20. E-Stamp will pay the purchase price through a set-off against your obligation to pay principal under the Promissory Note dated June 28, 1999 in the original principal amount of $225,000. 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 $70,312.80 and all accrued but unpaid interest under the Promissory Note. Pursuant to the terms of the Repurchase Agreement, the remaining 58,594 shares acquired by you on August 1, 1999 will be held by E-Stamp as security for the performance of your remaining obligations under the Promissory Note. Ed Malysz October 23, 2000 Page 2 If you agree with the foregoing, please sign in the space provided below. Sincerely, /s/ Bo Ewald Bo Ewald, President and CEO Agreed as of the date first set forth above: /s/ Edward Malysz ----------------- Ed Malysz /s/ Mary Malysz --------------- Spouse