EX-4.26 4 ex-4_26.txt EXHIBIT 4.26 EXHIBIT 4.26 NHANCEMENT TECHNOLOGIES, INC. 6663 Owens Drive Pleasanton, CA 94588 (925) 251-3300 June 15, 2000 1. AMRO International, S.A. 5. Allen Jacobson C/o Ultra Finance 30050 MN World Trade Center Grossmunster Platz 26 30 E, 7th Street Zurich CH 8022 Saint Paul, MN 55101 Switzerland 6. Wayne Saker 2. Deephaven Private Placement Trading Ltd 55 Shaw Road 130 Cheshire Lane, Suite 102 Chestnut Hill Minnetonka MA 02147 MN 55305 7. Lucian T. Baldwin 3. Celeste Trust Reg 175 Sheridan Road C/o Trevisa-Trevland-Anstalt Winnetka Landstrasse 8 IL 60093 Furstentums 9496 Balzers, Lichstenstein 8. Bartlett Hackley 113, 35th Place, Unit B 4. Esquire Trade & Finance Inc. Manhattan Beach P.O. Box 2154 CA 90266 Baar, CH-6342 Switzerland RE: AMENDMENT TO EXHIBIT A (8% CONVERTIBLE DEBENTURE) OF THE CONVERTIBLE DEBENTURE PURCHASE AGREEMENT DATED MAY 19, 2000. Gentlemen: Reference is made to Exhibit A, the form of 8% Convertible Debenture (the "Debenture"), of that certain Convertible Debenture Purchase Agreement (the "Purchase Agreement"), dated May 19, 2000, between NHancement Technologies Inc., (the "Company") and the Investors signatory hereto (each an "Investor" and together the "Investors"). Provision 3 of the Debenture, as currently constituted, provides that the Holder of the Debenture is entitled, at its option, to convert at any time commencing on the date hereof, the principal amount of this Debenture or any portion thereof, into shares of Common Stock of the Company ("Conversion Shares") at a conversion price for each share of Common Stock ("Conversion Price") equal to the lesser of $17.35 (subject to adjustment for stock splits and the like) or (ii) 91% of the average of the three (3) lowest closing bid prices during the ten (10) Trading Days immediately preceding the Conversion Date; PROVIDED, HOWEVER, the Conversion Price shall not be less than $10.00 (adjusted for stock splits and the like). The Company and the Purchaser hereby agree to revise said provisions from the Purchase Agreement. In consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree to restate the following provision of the Debenture as follows: Provision 3. The Holder of this Debenture is entitled, at its option, to convert at any time commencing on the date hereof, the principal amount of this Debenture or any portion thereof, into shares of Common Stock of the Company ("Conversion Shares") at a conversion price for each share of Common Stock ("Conversion Price") equal to the lesser of $13.00 (subject to adjustment for stock splits and the like) or (ii) 91% of the average of the three (3) lowest closing bid prices during the ten (10) Trading Days immediately preceding the Conversion Date; PROVIDED, HOWEVER, the Conversion Price shall not be less than $8.00 (adjusted for stock splits and the like). Except as specifically amended by the terms of this letter, the Purchase Agreement and the Debenture shall remain unmodified and in full force and effect, and shall not be in any way changed, modified or superseded by the terms set forth herein. All terms used but not defined in this letter shall have the meanings set forth in the Purchase Agreement. This letter may be executed in any numbers of counterparts, all of which taken together shall constitute one and the same instrument and shall become effective when counterparts have been signed by each party and delivered to the other parties hereto, it being understood that all parties need not sign in the same counterpart. Execution may be made by delivery by facsimile. 2 If the foregoing correctly sets forth our understanding and agreement, please so indicate by signing where indicated below. NHANCEMENT TECHNOLOGIES INC. By: _________________________ Name: Title: ACCEPTED AND AGREED TO: AMRO INTERNATIONAL, S.A. By: ____________________________________ H.U. Bachofen, Director DEEPHAVEN PRIVATE PLACEMENT TRADING LTD. By: ____________________________________ Name: Title: CELESTE TRUST REG By: ____________________________________ Thomas Hackl, Authorized Signatory ESQUIRE TRADE & FINANCE INC. By: ____________________________________ Name: Title: 3 (NHan Amendment to Debenture Agreement) _______________________________________ Allen Jacobson _______________________________________ Wayne Saker _______________________________________ Lucian T. Baldwin _______________________________________ Bartlett Hackley 4