Exhibit 10.13
THIRD AMENDMENT TO LOAN AGREEMENT
This Third Amendment to Loan Agreement ("Agreement") is entered
into by
and among Marc Sherman ("Sherman"), Edward L. Cummings ("Cummings"), Carl C.
Saracino ("Saracino"), Michael P. Sheerr ("Sheerr") and WindsorTech,
Inc., a
Delaware corporation (the "Company"), on and as of March 29, 2004.
Sherman,
Cummings, Saracino and Sheerr are sometimes hereinafter referred to,
individually, as a "Shareholder" or "Lender" and, collectively, as the
"Shareholders" or "Lenders".
WHEREAS, on and as of
April 24, 2002 Sherman, Cummings, Saracino and
Sheerr each severally agreed to lend
$110,000.00 to the Company, (individually,
a "Loan" and collectively, the "Loans"),
for an aggregate of $550,000.00; and
WHEREAS, by Amendment to Loan Agreement dated as of September 30,
2002,
the Lenders extended the maturity date of
the Loans to January 31, 2005; and
WHEREAS, the parties hereto wish to further extend the maturity
date of
$100,000.00 of each Loan ($500,000.00 of the Loans in the aggregate) on the
terms and conditions hereafter set
forth.
NOW, THEREFORE,
the parties
hereto, intending to be legally bound
hereby, hereby agree as follows:
1. Except as set forth
below, the Loan
Agreement dated on and as of
April 24, 2002, and all attachments and
exhibits thereto shall remain as written
and continue in full force and effect.
2. The Loans are
evidenced by the Company's Promissory Notes in the
form attached to the Loan Agreement as Exhibits A-1, A-2,
