Global Election Systems Inc – ‘10KSB’ for 6/30/99 – EX-10.T

On:  Tuesday, 9/28/99   ·   For:  6/30/99   ·   Accession #:  950134-99-8519   ·   File #:  0-24725

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Annual Report — Small Business   —   Form 10-KSB
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10KSB       Form 10KSB for Fiscal Year End June 30, 1999          59    273K 
 2: EX-10.G     Lease - Omaha, Nebraska                                3±    14K 
 3: EX-10.R     Addendum to Lease Agreement                            1      8K 
 4: EX-10.S     Change in Terms Agreement - June 8, 1998               2±    10K 
 5: EX-10.T     Change in Terms Agreement - November 25, 1995          2±    11K 
 6: EX-10.U     Promissory Note - May 14, 1999                         1      7K 
 7: EX-10.V     Promissory Note - May 28, 1999                         4±    22K 
 8: EX-11       Computation of Per-Share Income Treasury Stock         1      7K 
 9: EX-21       Subsidiaries of the Company                            1      5K 
10: EX-23       Consent of Staley, Okada, Chandler & Scott             1      6K 
11: EX-24       Power of Attorney                                      1      8K 
12: EX-27       Financial Data Schedule                                1      7K 

EX-10.T   —   Change in Terms Agreement – November 25, 1995

EX-10.T
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                                                                    EXHIBIT 10 t

 CHANGE IN TERMS AGREEMENT

                                                        [Enlarge/Download Table]

-------------------------------------------------------------------------------------------------------
  Principal     Loan Date     Maturity     Loan No    Call    Collateral   Account   Officer  Initials 
-------------   ---------    ----------    -------    ----    ----------   -------   -------  -------- 
                                                                                                       
$  250,114.00   11-14-95     11-15-2000    2000300    500         12         4580      WTF             
-------------------------------------------------------------------------------------------------------
References in the shaded area are for Lender's use only and do not limit the applicability of this     
document to any particular loan or item.                                                               
-------------------------------------------------------------------------------------------------------

Borrower:    Global Election Systems, Inc. (TIN:  85-0394190)          Lender:   WESTERN BANK          
             1611 Wilmeth Road                                                   Main                  
             McKinney, TX  750698250                                             505 Marquette NW      
                                                                                 P O Box 26144         
                                                                                 Albuquerque, NM  87125

================================================================================

Principal Amount:   $250,114.00              Date of Agreement:  January 6, 1999

DESCRIPTION OF EXISTING INDEBTEDNESS. Commercial loan originally dated November 
14, 1995 in the original amount of $600,000.00. Rate is NY Prime, interest      
quarterly and principal due at maturity. Maturity date is January 6, 1999-09-24 

DESCRIPTION OF CHANGE IN TERMS. Extend the maturity date of the note to November
15, 2000 at the rate of WBP+1% with an interest rate floor of 9.00% interest    
quarterly and principal due at maturity.                                        

CONTINUING VALIDITY. Except as expressly changed by this Agreement, the terms of
the original obligation or obligations, including all agreements evidenced or   
securing the obligation(s), remain unchanged and in full force and effect.      
Consent by Lender to this Agreement does not waive Lender's right to strict     
performance of the obligation(s) as changed, nor obligate Lender to make any    
future change in terms. Nothing in this Agreement will constitute a satisfaction
of the obligation(s). It is the intention of Lender to retain as liable parties 
all makers and endorser of the original obligation(s), including accommodation  
parties, unless a party is expressly released by Lender in writing. Any maker or
endorser, including accommodation makers, will not be released by virtue of this
Agreement. If any person who signed the original obligation does not sign this  
Agreement below, then all persons signing below acknowledge that this Agreement 
is given conditionally, based on the representation to Lender that the          
non-signing party consents to the changes and provisions of this Agreement or   
otherwise will not be released by it. This waiver applies not only to any       
initial extension, modification or release, but also to all such subsequent     
actions.                                                                        

PRIOR TO SIGNING THIS AGREEMENT, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS
OF THIS AGREEMENT. BORROWER AGREES TO THE TERMS OF THE AGREEMENT AND            
ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THE AGREEMENT.                      

BORROWER:                                                                       

GLOBAL ELECTION SYSTEMS, INC.                                                   

BY:    Signed:  "HOWARD T. VAN PELT"                                            
-----------------------------------                               
HOWARD T. VAN PELT                                                
PRESIDENT AND CHIEF EXECUTIVE OFFICER                             

================================================================================

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10KSB’ Filing		Date		Other Filings
		11/15/00		NT 10-Q
Filed on:		9/28/99
For Period End:		6/30/99
		1/6/99
		11/14/95
				List all Filings