Exhibit 10.24
EXTENSION OF TERM OF THE AMENDED AND RESTATED
ADMINISTRATION AND LIQUIDATION AGREEMENT
This agreement to extend the term of
the Amended and Restated Administration and Liquidation Agreement
(defined below) (this “Agreement”) is made as of
December 8, 2004 by and between Calypso Management, LLC, a Delaware
limited liability company (“Calypso”) and Harbor Global
Company Ltd., a Bermuda limited duration company (“Harbor
Global”).
WHEREAS, the parties hereto desire
to extend the term of the Amended and Restated Administration and
Liquidation Agreement, effective as of July 10, 2003, by and
between Calypso and Harbor Global (the “Amended and Restated
Administration and Liquidation Agreement”), for an additional
one year term, or up to October 24, 2006, but in no event beyond
the date Harbor Global is liquidated.
NOW, THEREFORE, in consideration of
the foregoing, and the covenants and agreements set forth herein
and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and intending to be
legally bound, the parties hereto agree as follows:
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1.
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Acknowledgement of Notice to Extend
Term . The parties hereto
acknowledge that Harbor Global has given written notice to
Caly
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