Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - VALENCE TECHNOLOGY INC | valence_8k-101309.htm |
Exhibit 10.1
October
13, 2009
Mr. Carl
E. Berg
Berg
& Berg Enterprises, LLC
10050
Bandley Dr.
Cupertino,
CA 95014
Re: Amend
Covenants in Loan Agreements
Dear Mr.
Berg:
Valance
Technology, Inc. (the “Borrower”) and Berg & Berg Enterprises, LLC, are
currently parties to two loan agreements: (a) the Loan Agreement dated July 17,
1990, as amended (the “Original Amended Loan Agreement) and (b) the Loan
Agreement dated October 5, 2001 (the “New Loan Agreement”)(collectively the
“Loan Agreements” or “Loans”). This letter is to formally document
our agreement to amend the Loan Agreements to extend the maturity dates of the
Loan Agreements from September 30, 2010 to September 30, 2012.
This
letter shall serve as Amendment No. 14 to the Original Amended Loan Agreement
and as Amendment No. 6 to the New Loan Agreement.
Kindly
indicate your acceptance of the amendments described above by signing and
returning the enclosed copy of this letter.
| Sincerely, | ||
| VALENCE TECHNOLOGY, INC. | ||
|
|
/s/ Roger A. Williams | |
| Roger A. Williams | ||
| VP Law & General Counsel | ||
|
ACCEPTED
AND AGREED:
|
||
| BERG & BERG ENTERPRISES, LLC | ||
|
|
/s/ Carl E. Berg | |
|
Carl
E. Berg, Managing Member
|
||