Exhibit 10.26c
FIRST AMENDMENT TO PLEDGE AGREEMENT
THIS FIRST AMENDMENT TO PLEDGE AGREEMENT (this "Amendment") is
entered into as of July 5, 1995, by and between IOMEGA CORPORATION,
a Delaware corporation ("Pledgor"), and XXXXX FARGO BANK, NATIONAL
ASSOCIATION ("Pledgee").
RECITALS
WHEREAS, Pledgor and Pledgee have executed that certain Pledge
Agreement dated as of July 5, 1995, (the "Pledge Agreement").
WHEREAS, Pledgee and Pledgor have agreed to certain changes in
the terms and conditions set forth in the Pledge Agreement and have
agreed to amend the Pledge Agreement to reflect said changes.
NOW, THEREFORE, for valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto
agree that the Pledge Agreement shall be amended as follows:
1. Section 2.1 is hereby deleted in its entirety, and the
following substituted therefor:
"SECTION 2.1. Sixty-five percent (65%) of the shares of
capital stock of Iomega GMBH and all the shares of
capital stock of Iomega International Inc., Iomega Canada
Inc., Iomega Italia Inc., Iomega France Inc., Iomega
United Kingdom Ltd., Iomega Iberia Ltd., Iomega Belgium
Inc., Iomega Scandinavia Inc., and Iomega Austria Inc.
(collectively, the "Companies"), owned beneficially and
of record by Pledgor as listed on Schedule I attached
hereto and made a part hereof, and all cash, dividends,
other securities, instruments, rights and other property
at any time and from time to time received or receivable
in respect of the stock of the Companies or in exchange
for all or any part thereof, including without
limitation, stock dividends, warrants, rights to
subscribe, conversion rights, liquidating dividends and
other stock rights, and in the event Pledgor receives any
of the foregoing, Pledgor acknowledges that the same
shall be received IN TRUST for Pledgee and agrees
immediately to deliver the same to Pledgee in original
form of receipt, together with any stock or bond powers,
assignments, endorsements or other documents or
instruments as Pledgee may reasonably request to
establish, protect or perfect Pledgee's interest in
respect of such Collateral: and"
2. Except as specifically provided herein, all terms and
conditions of the Pledge Agreement remain in full force and effect,
without waiver or modification. All terms defined in the Pledge
Agreement shall have the same meaning when used in this Amendment.
This Amendment and the Pledge Agreement shall be read together, as
one document.
3. Pledgee hereby remakes all representations and warranties
contained in the Pledge Agreement and reaffirms all covenants set
forth therein. Pledgee further certifies that as of the date of
this Amendment there exists no Event of Default as defined in the
Pledge Agreement, nor any condition, act or event which with the
giving of notice or the passage of time or both would constitute
any such Event of Default.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment
to be executed as of the day and year first written above.
XXXXX FARGO BANK,
IOMEGA CORPORATION NATIONAL ASSOCIATION
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxxxxxx
Title: Chief Financial Officer Title: Vice President
