EXHIBIT 10.87
AMENDMENT 1:
RESELLER AGREEMENT
BETWEEN
▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇
AND
MTI TECHNOLOGY CORPORATION
MTI Reseller Agreement - Amendment 1
CONFIDENTIAL
1
Pursuant to section 18.8 of the Reseller Agreement between ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ and
MTI Technology Corporation (the "Agreement"), EMC and Reseller hereby agree to
the following amendments to the Agreement.
WHEREAS, EMC and Reseller wish to extend the initial term of the Agreement from
three (3) years to six (6) commencing on the Effective Date; and
WHEREAS, EMC and Reseller wish to make a rebate available to Reseller under the
circumstances below;
NOW THEREFORE, for good and valid consideration, the parties agree as follows:
1. The first line of section 3.1 shall be amended as follows: the word "three
(3)" shall be replaced by the word "six (6)". No other changes shall be made to
the terms of section 3.
2. The following Section 7.3 shall be added to the Agreement:
"7.3 REBATE OPPORTUNITY. Effective February 1, 2004. Reseller shall
receive a rebate of four (4) percent off the net price invoiced to MTI,
for Clariion Equipment purchased by Reseller from EMC. Provided, however,
that this rebate opportunity does not apply to any sales of Clariion
Equipment on which maintenance services are provided by EMC. This rebate
shall be earned quarterly, and payable at the end of the relevant quarter
by the issuance of a credit by EMC to Reseller, which credit shall offset
amounts owed by Reseller to EMC. In addition, for purposes of calculating
co-op funds pursuant to Exhibit A-5 hereto, the amount of such rebate
credits shall be deducted from the Reseller's net revenue."
Agreed by the parties:
▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ("EMC") MTI Technology Corporation ("Reseller")
By: ▇▇▇▇▇▇▇ Ambulof By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, ▇▇.
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Name: ▇▇▇▇▇▇▇ Ambulof Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, ▇▇.
Title: VP Channel Sales Title: Chairman Of the Board and CEO
Date: 3/26/04 Date: 3/25/04
MTI Reseller Agreement - Amendment 1 2
CONFIDENTIAL