PixTech, Inc.
(A DEVELOPMENT STAGE COMPANY)
EXHIBIT 10
FIRST AMENDMENT TO THE
PRIVATE EQUITY LINE AGREEMENT
BY AND BETWEEN
KINGSBRIDGE CAPITAL LIMITED
AND
PIXTECH, INC.
This First Amendment (this "Amendment") to the Private Equity Line
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Agreement dated as of August 9, 1999 (the "Equity Line Agreement") by and
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between Kingsbridge Capital Limited (the "Investor") and PixTech, Inc., a
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Delaware corporation (the "Company") is made as of June 25, 2001. Capitalized
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terms not defined herein shall have the meanings ascribed to them in the Equity
Line Agreement.
The Effective Date under the Equity Line Agreement was the date on which
the SEC first declared effective the registration statement on Form S-1 relating
to the resale of shares put to the Investor by the Company pursuant to the
Equity Line Agreement, which date was September 27, 1999. The Equity Line
Agreement provided for a basic term of twenty-four (24) months from the
Effective Date. The Investor and the Company wish to extend the term of the
Equity Line Agreement by an additional six (6) months.
Now, therefore, in consideration of the promises hereinafter set forth and
for other good and valuable consideration, the receipt of which is hereby
acknowledged, the parties hereby agree to amend the Equity Line Agreement as
follows:
1. Section 1.8 of the Equity Line Agreement is hereby deleted in its entirety
and replaced with the following:
"Section 1.8 "Commitment Period" shall mean the period commencing
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on the Effective Date and expiring on the earliest to occur of
(i) the date on which the Investor shall have purchased Put
Shares pursuant to this Agreement for an aggregate Purchase Price
equal to the Maximum Commitment Amount, (ii) the date this
Agreement is terminated pursuant to Section 2.4, or (iii) March
27, 2002."
2. Section 10.4 of the Equity Line Agreement is hereby amended to (i) replace
"Xxxx Xxxxx" with "Xxxxx Boem", (ii) add "(000) 00-0-00-00-0000" as the
facsimile number for notices to the Company, and (iii) replace "Xxxxxxx
Xxxxxx, Esq. and Xxxx X. Xxxxxxxxxx, Esq." with "Xxxxxxx X. Xxxxx, Esq."
3. Section 10.8 of the Equity Line Agreement is hereby deleted in its entirety
and replaced with the following:
"Section 10.8 Termination;Survival. This Agreement shall
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terminate on the earliest to occur of (i) Xxxxx 00, 0000, (xx)
such date that the Investor terminates this Agreement pursuant to
Section 2.4 hereof and (iii) the date on which the Company has
made Puts with an aggregate Investment Amount equal to the
Maximum Commitment Amount; provided, however, that the provisions
of Articles VI, VIII, X and Section 7.3 shall survive termination
of this Agreement."
4. Except as amended hereby, the Equity Line Agreement shall continue in full
force and effect.
IN WITNESS WHEREOF, this Amendment has been duly executed in counterparts as of
June 25th, 2001.
KINGSBRIDGE CAPITAL LIMITED PIXTECH, INC.
By: /s/ Xxxx Xxxxxx By: /s/ Xxxxx Boem
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Name: Xxxx Xxxxxx Name: Xxxxx Boem
Title: Director Title: Chief Financial Officer
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PixTech, Inc - Form 10Q -June 30, 2001 - Page 19/19
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