PACIFIC BUSINESS FUNDING LOGO] 20195 Stevens Creek Boulevard • Suite #220 • Cupertino, California 95014 Tel. (408) 255-9300 • Fax (408) 255-9313 FACTORING AGREEMENTFactoring Agreement • March 31st, 2003 • Lexar Media Inc • Photographic equipment & supplies • California
This Factoring Agreement (the “Agreement”), dated as of September 19, 2001, is entered into by and between Lexar Media, Inc. a [þ corporation, ¨ partnership, ¨ sole proprietorship] (“Seller”) having its principal place of business and chief executive office at the address set forth below Seller’s signature, and Pacific Business Funding, a division of Cupertino National Bank (“Purchaser”) having an office at the address identified above.
AMENDMENT TO FACTORING AGREEMENTFactoring Agreement • March 31st, 2003 • Lexar Media Inc • Photographic equipment & supplies • California
WHEREAS, pursuant to that certain Factoring Agreement dated as of September 19, 2001, by and between Seller and Purchaser, as from time to time amended, restated, supplemented or otherwise modified, (the “Factoring Agreement”), Purchaser has made or will hereafter make, Advances to Seller for the purchase of Accounts. All capitalized terms used but not otherwise defined in this Amendment shall have the respective meanings assigned to such terms in the Factoring Agreement.
PACIFIC BUSINESS FUNDING LOGO] June 28, 2002 Michael Perez Chief Financial Officer Lexar Media, Inc. 47421 Bayside Pkwy Fremont, CA 94538 RE: Addendum to the Factoring Agreement (“Agreement”) dated September 12, 2001 Dear Michael:Lexar Media Inc • March 31st, 2003 • Photographic equipment & supplies
As of June 28, 2002, Pacific Business Funding, a division of Cupertino National Bank (“PBF” or “Bank”) and a member of the Greater Bay Bancorp (NASDAQ: GBBK) has agreed to new following changes to the original Factoring Agreement (“Agreement”) dated and signed on September 12, 2001 between PBF and Lexar Media, Inc. (“Borrower”). Besides the new terms clearly stated below, all the rights granted to each party in the Factoring Agreement (“Agreement”) shall remain completely unchanged. The approved changes are as follows:
