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Technology Stocks : AVCI
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To: The Ox who wrote (188)10/6/2006 4:46:01 PM
From: The Ox  Read Replies (1) of 190
 
Item 1.01. Entry into a Material Definitive Agreement

On October 3, 2006, Avici Systems Inc. (“Avici”) entered into a Resolution Agreement (the “Agreement”) with Alcatel Teletas Telekomunikasyon Endustri A.S. (“Alcatel”) pursuant to which the parties agreed to terminate the Supply Agreement between Avici and Alcatel dated October 25, 2005.

Pursuant to the terms of the Agreement, there will be a transition period during which Avici and Alcatel will unwind the financial arrangements between the parties and decommission the routing equipment provided by Avici under the Supply Agreement. Avici will continue to provide technical support to Alcatel during this transition period.
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