EX-10.61 3 b325664_ex10-61.txt AMENDMENT NO. 1 Exhibit 10.61 AMENDMENT NO. 1 TO NOTE AND WARRANT PURCHASE AGREEMENT AMENDMENT NO. 1, dated as of May 14, 2003 (this "Amendment"), by and among Wire One Technologies, Inc., a Delaware corporation (the "Company"), and the purchasers listed on the signature pages hereto, to the Note and Warrant Purchase Agreement (the "Purchase Agreement") dated as of December 17, 2002 by and among the Company and the purchasers listed therein (the "Purchasers"). Capitalized terms not otherwise defined herein shall have the meanings assigned to such terms in the Purchase Agreement. W I T N E S S E T H : - - - - - - - - - - WHEREAS, the Purchase Agreement provides for the issuance and sale of Subordinated Convertible Promissory Notes and Warrants by the Company to the Purchasers; WHEREAS, the parties now wish to amend the Purchase Agreement as set forth in this Amendment; NOW, THEREFORE, in consideration of the foregoing and the mutual covenants contained herein, the parties hereby agree as follows: Section 1. Amendment to the Purchase Agreement. 1.1. Section 1(e) of the Purchase Agreement is hereby amended by deleting the reference to the number 120% and substituting in lieu thereof the number 100%. Section 2. Miscellaneous. 2.1. Limited Effect. Except as expressly amended and modified by this Amendment, all of the terms and provisions of the Purchase Agreement are and shall continue to remain in full force and effect in accordance with the terms thereof. 2.2. Counterparts. This Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 2.3. Governing law. This Amendment shall be governed by and construed in accordance with the internal laws of the State of New York, without giving effect to the choice of law provisions. IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective authorized officers as of the date first above written. WIRE ONE TECHNOLOGIES, INC. By: /s/ Richard Reiss ------------------------------- Name: Richard Reiss Title: Chief Executive Officer ROYAL BANK OF CANADA By: Its agent RBC Dominion Securities Corporation By: /s/ Steven C. Milke ------------------------------- Name: Steven C. Milke Title: Managing Director NORTH SOUND LEGACY FUND LLC (f/k/a DMG Legacy Fund LLC) By: /s/ Andrew Wilder ------------------------------- Name: Andrew Wilder Title: Chief Financial Officer NORTH SOUND LEGACY INSTITUTIONAL FUND LLC (f/k/a DMG Legacy Institutional Fund LLC) By: /s/ Andrew Wilder ------------------------------- Name: Andrew Wilder Title: Chief Financial Officer NORTH SOUND LEGACY INTERNATIONAL LTD. (f/k/a DMG Legacy International Ltd.) By: /s/ Andrew Wilder ------------------------------- Name: Andrew Wilder Title: Chief Financial Officer