EXHIBIT 10.03
AMENDMENT TO WARRANT AGREEMENT
This Amendment (the "AMENDMENT") is entered into as of April 28,
2000 between Sprint Corporation, a Kansas corporation (the "PURCHASER"), and
Hybrid Networks, Inc., a Delaware Corporation (the "COMPANY"), and amends the
Warrant Agreement dated as of September 9, 1999 between the Purchaser and the
Company (the "WARRANT AGREEMENT"). Except as otherwise defined herein, the
capitalized terms herein shall have the same meanings as those terms have in
the Warrant Agreement.
The parties hereto agree as follows:
1. The first three sentences of Section 2(b) of the Warrant
Agreement are hereby amended in their entirety as follows:
(b) None of the Warrants shall be exercisable until the
earliest date on which the shipment of at least $1,000,000 of
products is scheduled to occur pursuant to the terms of one or more
Orders (as defined in the Equipment Purchase Agreement) issued by
Sprint in connection with the Equipment Purchase Agreement. On such
date, 10% of the Warrants (rounded to the nearest whole Warrant)
shall become exercisable. Thereafter, an additional 10% of the
Warrants (rounded to the nearest whole Warrant) shall become
exercisable for each additional $1,000,000 of shipments as are
scheduled to be made pursuant to the terms of one or more Orders
issued by Sprint in connection with the Equipment Purchase
Agreement, such that that entire amount of Warrants shall be
exercisable when $10,000,000 of such shipments have been so
scheduled to be made.
2. No other amendment is made to the Warrant Agreement. The
Warrant Agreement, as amended as provided in Section 1, continues in full
force and effect.
The effective date of the amendment is September 9, 1999.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be executed by their respective officers thereunto duly authorized as of the
day and year first above written.
HYBRID NETWORK. S, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
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Chief Executive Officer
SPRINT CORPORATION
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
President, Broadband Wireless Group