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FIRST AMENDMENT
TO
AGREEMENT AND PLAN OF MERGER
This FIRST
AMENDMENT TO AGREEMENT AND PLAN OF MERGER (this “
First Amendment ”) is made and entered into effective
as of April 2, 2007 by and among Quovadx, Inc., a Delaware
corporation (the “ Company ”), Quartzite
Holdings, Inc., a Delaware corporation (the “ Acquiror
”), and Quartzite Acquisition Sub, Inc., a Delaware
corporation (the “ Acquiror Sub ”) (the Company,
Acquiror and Acquiror Sub are individually hereinafter referred to
as “ Party ” and collectively as the “
Parties ”).
WHEREAS, the
Parties entered into that certain Agreement and Plan of Merger by
and among the Parties dated as of April 1, 2007 (the “
Merger Agreement ”); and
WHEREAS, the
Parties desire to amend certain provisions of the Merger Agreement
as set forth herein.
NOW THEREFORE, for
good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, it is agreed to by the Parties as
follows:
1. Section 2.02(d)
of the Merger Agreement is hereby amended in its entirety to read
as follows:
(d) If
the Final Working Capital is in the range of Forty-One Million Four
Hundred Seventy-Two Thousand and No/100 Dollars ($41,472,000) (the
“ Low Threshold ”) and Forty-Three Million Four
Hundred Seventy-Two Thousand and No/100 Dollars ($43,472,000) (the
“ High Threshold ”), then there shall be no
adjustment to the Total Merger Consideration. In the event that the
Final Working Capital exceeds the High Threshold, the Total Merger
Consideration shall be increased, at the Closing, by the amount of
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