Confirmation Letter for Financial Support between Softbank Capital Partners LP and Odimo Incorporated (January 6, 2005)

Summary

Softbank Capital Partners LP confirms to Odimo Incorporated that if Odimo's available cash from its credit facility with Silicon Valley Bank runs out and more funds are needed for operations in 2005, Softbank will provide up to $5 million in additional financing. This support may be in the form of equity financing on mutually agreed terms or bridge financing similar to the existing credit facility. The agreement is intended to ensure Odimo has access to necessary funds during the specified period.

EX-10.17 6 g89390a5exv10w17.txt CONFIRMATION LETTER DATED 1/6/05 EXHIBIT 10.17 January 6, 2005 VIA FAX ###-###-#### Odimo Incorporated 14001 N.W. 4th Street Sunrise, Florida 33325 Attn: Alan Lipton, CEO RE: FINANCIAL SUPPORT Dear Alan: This is to confirm that in the event that Odimo Incorporated's current cash availability from its credit facility with Silicon Valley Bank (the "Credit Facility") is completely consumed and Odimo Incorporated requires additional cash to fund operations during the year ended December 31, 2005, that Softbank Capital Partners LP (from itself and certain affiliates) shall provide to Odimo Incorporated up to $5 million of equity financing on terms mutually agreeable to the parties or bridge financing on similar terms as outlined in the Credit Facility. Very truly yours, SOFTBANK CAPITAL PARTNERS LP By: SOFTBANK Capital Partners LLC, its General Partner By: /s/ Steven J. Murray -------------------------------- Steven J. Murray Administrative Member