I found the following (in the MX-10 Material Contract section)interesting: (This is just an excerpt)
"NORTEL and SHIVA agree that:
a. This is an amendment to that certain Agreement by and between SHIVA and NORTEL which was executed by the parties thereto on February 27, 1998 ("2/27/98 Agreement"). Section 8 of the 2/27/98 Agreement is deleted in its entirety and replaced with the following:
8. By September 30, 1998, Northern Telecom Inc. shall pay SHIVA Four Million Five Hundred Thousand Dollars ($4,500,000) and thereafter, at mid-quarter, during each of the next succeeding five (5) calendar quarters, Northern Telecom Inc. shall pay SHIVA Three Million One Hundred Thousand Dollars ($3,100,000) for a cumulative total of Twenty Million Dollars ($20,000,000), according to the below-listed payment schedule, immediately upon receipt of SHIVA's invoice:
September 30, 1998 $4,500,000 November 15, 1998 $3,100,000 February 15, 1999 $3,100,000 May 15, 1999 $3,100,000 August 15, 1999 $3,100,000 November 15, 1999 $3,100,000
These payments are in lieu of NORTEL's prior product purchase commit- ments to SHIVA. SHIVA hereby releases and discharges NORTEL from any claims or liability arising out of nonperformance of such commitments by NORTEL prior to September 25, 1998. ..." |