XPLORETECHNOLOGIES CORP. 14000 Summit Drive, Suite 900 Austin, TX 78728
Exhibit 10.2
XPLORE TECHNOLOGIES CORP.
14000 Summit Drive, Suite 900
Austin, TX 78728
October 21, 2008
Philip S. Sassower
Phoenix Venture Fund LLC
110 East 59th Street, Suite 1901
New York, NY 10022
Re: Note Purchase Agreement, dated September 5, 2008
Gentlemen,
Reference is made to that certain Note Purchase Agreement, dated September 5, 2008, by and among Xplore Technologies Corp. (the Parent), Xplore Technologies Corporation of America (the Subsidiary and collectively with the Parent, the Borrowers) and the Purchasers listed on Schedule I and Schedule II thereto (the Agreement). Any capitalized terms used but not otherwise defined herein shall have the same meanings ascribed to such terms in the Agreement.
The parties hereto hereby acknowledge and agree that:
1. The Agreement is hereby amended to reduce the Warrant Exercise Price from $.27 to $.12.
2. Section 9 (Certain Definitions) to the Agreement is hereby amended by deleting in its entirety the definition of Warrant Exercise Price and inserting in lieu thereof the following definition:
Warrant Exercise Price shall mean $.12.
3. Section 8.1 (General Indemnification) to the Agreement is hereby amended by deleting in its entirety and inserting in lieu thereof the following:
General Indemnification. Each of the Borrowers shall jointly and severally indemnify, defend and hold each Purchaser, its affiliates and their respective officers, directors, partners (general and limited), employees, agents, attorneys successors and assigns (each a Purchaser Entity) harmless from and against all Losses incurred, suffered or arising out or by reason of any matter relating, directly or indirectly, to this Agreement or any other Loan Document, except to the extent that such Losses are the result of the gross negligence, willful
misconduct or fraud of such Purchaser Entity. Each Purchaser, severally and not jointly, shall indemnify, defend and hold the Borrowers, their respective officers, directors, employees, agents, attorneys, successors and assigns (each a Borrower Entity) harmless against all Losses as a result of the breach of any of the representations, warranties, covenants or agreements made by such Purchaser in this Agreement or any of the Loan Documents, except to the extent that such Losses are a result of the gross negligence, willful misconduct or fraud of such Borrower Entity.
4. This agreement shall be governed by, and construed in accordance with, the laws of the State of New York excluding that body of law relating to conflicts of law.
Please indicate your agreement and acceptance of the terms and conditions of this letter agreement by executing this letter agreement in the designated space below and returning a signed copy.
| Very truly yours, | |
|
| |
| Xplore Technologies Corp. | |
|
| |
|
| |
| By: | /s/ M. Rapisand |
|
| Name: Michael J. Rapisand |
|
| Title: Chief Financial Officer and Secretary |
AGREED AND ACCEPTED: |
| ||
|
| ||
Phoenix Venture Fund LLC, as Agent to Purchasers |
| ||
|
| ||
|
| ||
By: | SG Phoenix Ventures LLC, |
| |
| its Managing Member |
| |
|
|
| |
By: | /s/ P. Sassower |
| |
| Name: Philip Sassower |
| |
| Title: Member |
| |
|
|
| |
|
|
| |
XPLORE TECHNOLOGIES OF AMERICA |
| ||
|
| ||
|
| ||
By: | /s/ M. Rapisand |
| |
| Name: Michael J. Rapisand |
| |
| Title: Chief Financial Officer and Secretary |
| |
Signature Page to Side Letter
Agreed and Accepted: |
| |
|
| |
DARYL LEE SCOTT LLC |
| |
|
| |
|
| |
By | /s/ J. Tick |
|
| Name: Jeffrey Tick |
|
| Title: |
|
Signature Page to Side Letter
Agreed and Accepted: |
| |
|
| |
JAM CAPITAL ASSOCIATES LP |
| |
|
| |
|
| |
By: | /s/ L. Pearlman |
|
| Name: Leonard D. Pearlman |
|
| Title: Manager |
|
Signature Page to Side Letter
Agreed and Accepted: |
| |
|
| |
MICHAEL A. STEINBERG & CO. PROFIT |
| |
SHARING TRUST FBO MICHAEL A. |
| |
STEINBERG |
| |
|
| |
|
| |
By: | /s/ M. Steinberg |
|
| Name: Michael A. Steinberg |
|
| Title: Trustee |
|
Signature Page to Side Letter
Agreed and Accepted: |
| |
|
| |
JAG MULTI INVESTMENTS LLC |
| |
|
| |
|
| |
By: | /s/ J. Goren |
|
| Name: James Goren |
|
| Title: Member |
|
Signature Page to Side Letter
Agreed and Accepted: |
| |
|
| |
PHOENIX ENTERPRISES FAMILY FUND LLC |
| |
|
| |
|
| |
By: | /s/ P. Sassower |
|
| Name: Philip Sassower |
|
| Title: |
|
Signature Page to Side Letter
Agreed and Accepted: |
|
|
|
|
|
/s/ J. ODonnell |
|
James ODonnell |
|
Signature Page to Side Letter