EXHIBIT 10.24
December 4, 1998
Mr. John Hui
Korea Data Systems America, Inc.
12300 Edison Way
Garden Grove, CA 92841
Re: supplement to August 7, 1998 transactions
Dear John:
Since we concluded the Amended and Restated License Agreement and
the Asset Purchase Agreement, we have agreed to supplement the License and
Agreement with the following changes:
1) KDS agrees to purchase certain tangible personal property
pursuant to the attached Bill of Sale for $50,000 due on
mutual execution of this letter.
2) Radius agrees to transfer its rights in the "EMACHINES" and
"COLORMATCH" trademarks pursuant to the attached Assignment
Agreement for $50,000 due on the mutual execution of this
letter.
3) The assignment of trademarks and sale of tangible property is
"as is", without any warranty by Radius, INCLUDING THE IMPLIED
WARRANTIES OF MERCHANTIBILITY AND FITNESS FOR A PARTICULAR
PURPOSE, except as specifically otherwise provided in the
attached Assignment and Bill of Sale. KDS agrees to pay or
reimburse Radius for all federal, state and local sales, use,
personal property and other taxes, fees or duties arising out
of the transactions contemplated by this supplement (other
than taxes on the net income of Radius). Radius will timely
cooperate with KDS in signing and filing such other documents
as may be reasonably necessary to effectuate the foregoing.
4) KDS waives the "shareholder approval or opinion of counsel"
condition set forth in Section 7.05 of the Asset Purchase
Agreement.
5) KDS and Radius agree to extend the date by which the Asset
Purchase Agreement must close to the close of business on May
17, 1999 (amending Section 9.02 of the Asset Purchase
Agreement).
6) Radius agrees to consent to the assignment of the Amended and
Restated License and the Asset Purchase Agreement (as amended
by this letter) to miro Displays, Inc.; provided that KDS
remains liable for all obligations under such License and
Agreement if such assignee fails to timely perform and
provided that the Guarantors' obligations under such License
and Agreement are unimpaired. Such assignment will occur prior
to July 4, 1999, if at all, and
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KDS will promptly notify Radius of the effective date of such
assignment. The License and Agreement are in all other
respects affirmed.
Please indicate your acceptance of the foregoing by
signing below.
Sincerely,
/s/ Mark Housley
Mark Housley, Chairman and CEO
Accepted: /s/ John Hui 12/11/98
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John Hui, Chairman Date
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BILL OF SALE
For good and valuable consideration, the undersigned "Seller" transfers all
of its right, title and interest in the personal property identified ON THE
ATTACHED LIST free of all liens and encumbrances to the undersigned "Buyer".
Buyer accepts the personal property "as is" and "where is". Seller also
transfers to Buyer any of its assignable warranties from third parties on the
personal property. THERE ARE NO OTHER WARRANTIES, EXPRESS OR IMPLIED,
ASSOCIATED WITH THE PERSONAL PROPERTY AND SELLER EXPRESSLY DISCLAIMS ANY
OTHER WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTIBILITY AND FITNESS FOR
A PARTICULAR PURPOSE. Buyer accepts the transfer of personal property on
these terms and acknowledges that the consideration paid to Seller reflects a
reasonable allocation of such risks. Buyer shall pay all sales and use taxes
associated with this transfer and will indemnify Seller from all loss,
liability, claims and expense, including reasonable attorneys' charges,
associated with Buyer's failure to timely discharge such obligation.
BUYER: Korea Data Systems America, Inc. SELLER: Radius Inc.
By: By: /s/ Mark Housley
------------------------------ ------------------------------
Name: Name: Mark Housley
------------------------------ ------------------------------
Address: Address: 460 E Middlefield
------------------------------ ------------------------------
Mtn View, CA
------------------------------ ------------------------------
(Attach list of personal property)
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LIST OF ASSETS TO BE TRANSFERRED TO KDS/MIRO
I.D.
ASSET # QTY DESCRIPTION SERIAL # ASSET
10371 1 MONITOR--PRESSVIEW 17" MNB5290A0032
10372 1 PC--MAC POWER 8500/180 XB63907C8FB
10421 1 MONITOR--PRESSVIEW 17"SR MNB5290A0135
10422 1 MONITOR--MULTI SYNC--3D EQA940002322
10423 1 PC--IBM, 286 EQA940002323
10424 1 PC--MAC POWER 9500/1150 XB62400M767
10427 1 MONITOR--PRESSVIEW 21"SR MNAG290A0029
10429 1 MONITOR--RADIUS PV.21"SR MNA5200A0448
10432 1 PC--MAC QUADRA 950 F522652F672
11247 1 PC--IBM PENTIUM
11445 1 MONITOR 850 APPLE WR7301FN947
R-1096 1 OSCILLOSCOPE 400MHZ B014488
R-4440 1 SPECTRAL SCANNER--PHOTO RESEARCH 1020
R-5503 1 STD LUMINANCE INDICATOR (METER) (2 PIECES)
R-6215 1 PRINTER--COMPAQ PAGEMERQ 20
R-6287 1 COLOR ANALYZER--MINOLTA CTR 75011029
R-6329 1 POWER SUPPLY 3870120
R-6502 1 PC PWR MAC 9600/233 XB7251PL9XJ
R-6503 1 DTP 92 XRITE 522
R-6504 1 SWATCHBOOK DIGITAL XRITE 1674
R-6505 1 MONITOR PV 21"
R-6508 1 Radius System 100 BATA00001264
R-6508 1 Radius System 100 BATA00001274
R-6510 1 SPECTRA SCAN 10247
R-6511 1 SIGNAL GEN
R-6512 1 MONITOR PV21SR MNA7160A0473
R-6513 1 MONITOR PV21SR MNA6400A0002
1 Radius System 100
R-6234 1 COLOR ANALYZER--MINOLTA CTR
R-6207 1 SIGNAL GEN
1 OSCILLOSCOPE 400MHZ
1 Prototype X-chassis .28mm AG
1 Prototype X-chassis .28mm AG
1 Synoptics Hub 2803 2318953
1 Synoptics Hub 2803 1112182
Asset List for Miro Final Page 1 12/4/98
LIST OF ASSETS TO BE TRANSFERRED TO KDS/MIRO
I.D.
ASSET # QTY DESCRIPTION SERIAL # ASSET
1 Synoptics Hub 2803 2291961
1 Synoptics Hub 2803 2318882
R-6470 1 Cisco 2501 Router
1 NAT LANB/290 Router
1 Shiva Lanrover 4E 103940
1 Shiva Lanrover 4E 103398
1 Verilink 56K DSU B440A2768
1 Verilink 56K DSU B446B1896
R-5292 1 Verilink T1 DSU 163739
R-5293 1 Verilink T1 DSU 163715
R-5470 1 Cisco WS-C1201 10T Switch 62010376
R-6520 1 Synoptics Hub 2813 2567673
R-6521 1 Synoptics Hub 2813 1926969
R-6524 1 Synoptics Hub 2813 1112062
R-6526 1 Synoptics Hub 2813 1122462
1 Small Radius Light Box
1 MONITOR--RADIUS PV.21"SR MNA5470A0152
8 Pedestals for Trade Show Booth (assuming inventory
available)
4 Counter tops for Trade Show Booth (assuming inventory
available)
1 Metal Trade Show Bin
1 Hanging Radius for Trade Show Booth
1 Internet Class "C" address 198.148.212.X (subject to
ARIN approval)
Asset List for Miro Final Page 2 12/4/98
ASSIGNMENT
For good and valuable consideration, Radius Inc. transfers all of its right,
title and interest in the U.S. trademarks #_________, #_________ and #_________
("EMACHINES", the stylized "E" and "COLORMATCH"), as well as all related
goodwill and the right to sue for any infringement, the "Trademarks") to
Korea Data Systems America, Inc. ("Assignee"), subject only to the right of
Radius and its designees to continue to use the Trademarks as necessary to
service, repair or replace goods sold by or through Radius and its
predecessors under such Trademarks prior to the date of this assignment.
Assignee will indemnify Radius from all loss, liability, claims and expense
(including attorneys' and experts' charges), collectively "Losses",
occasioned by Assignee's use of the Trademarks after the date of this
assignment. Radius will indemnify Assignee from all Losses occasioned by
Radius' continued use of such Trademarks after the date of this assignment.
Radius will execute such other documents as may be reasonably requested by
Assignee to effect the recordation of such assignment. The date of this
assignment is November 26, 1998.
Assignee:
Korea Data Systems America, Inc.
By: John Hui, chairman /s/ John Hui
--------------------------------------------
Date: 12/11/98
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Radius Inc.
By: Mark Housley, chairman and CEO /s/ Mark Housley
--------------------------------
Date: 12/4/98
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