LIONBRIDGE TECHNOLOGIES INC /DE/
AMENDED AND RESTATED PROMISSORY NOTE
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<DESCRIPTION>AMENDED AND RESTATED PROMISSORY NOTE
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<TITLE>Prepared by R.R. Donnelley Financial -- AMENDED AND RESTATED PROMISSORY NOTE</TITLE>
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 <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>EXHIBIT 10.3 </B></FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><U>AMENDED AND RESTATED PROMISSORY NOTE</U> </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center">
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<TD VALIGN="top" WIDTH="48%"> <DIV><FONT FACE="Times New Roman" SIZE="2">U.S. $10,000,000.00</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="48%"> <DIV><FONT FACE="Times New Roman" SIZE="2">Boston, MA</FONT></DIV> <DIV><FONT FACE="Times New Roman" SIZE="2">As of April 29, 2002</FONT></DIV> <DIV><FONT FACE="Times New Roman" SIZE="2">(Originally dated as of June 28,
2001,</FONT></DIV> <DIV><FONT FACE="Times New Roman" SIZE="2">and amended and restated as of September 24, 2001)</FONT></DIV> </TD> </TR>
 </TABLE> </DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:27px"><FONT FACE="Times New Roman" SIZE="2">FOR VALUE RECEIVED, the undersigned (the &#147;<U>Borrowers</U>&#148;), jointly
and severally, absolutely and unconditionally promise to pay to the order of Silicon Valley Bank (&#147;<U>Payee</U>&#148;) at the head office of Payee at 3003 Tasman Drive, Santa Clara, California 95054: </FONT></DIV> <DIV><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:81px"><FONT FACE="Times New Roman" SIZE="2">(a)&nbsp;&nbsp;on April 1, 2003, the principal amount of TEN MILLION U.S. DOLLARS (U.S. $10,000,000.00) or, if less, the aggregate unpaid principal
amount of Loans made by Payee to the Borrowers pursuant to the Loan and Security Agreement dated as of June 28, 2001, as amended by that Loan Document Modification Agreement (No. 1) dated as of September 24, 2001 and that Loan Document Modification
Agreement (No. 2) of even date herewith, as the same may be further amended or supplemented from time to time (as so amended, the &#147;<U>Loan Agreement</U>&#148;), by and among the Borrowers and Payee; and </FONT></DIV> <DIV><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:81px"><FONT FACE="Times New Roman" SIZE="2">(b) interest on the principal balance hereof from time to time outstanding from the date hereof through and including the date on which such principal
amount is paid in full, at the times and at the rates provided in the Loan Agreement. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:27px"><FONT FACE="Times New Roman" SIZE="2">This Note evidences borrowings under, is
subject to the terms and conditions of and has been issued by the Borrowers in accordance with the terms of, the Loan Agreement and is the Note referred to therein. This promissory note amends and restates in its entirety the terms and obligations
of the Borrowers under that certain Amended and Restated Promissory Note dated as of September 24, 2001 (the &#147;<U>Preceding Note</U>&#148;) by the Borrowers to the order of Payee and is issued in substitution therefor and is an amendment and
replacement thereof. Nothing herein or in any other document shall be construed to constitute payment of the Preceding Note or to release or terminate any guaranty, lien, mortgage, pledge or other security interest in favor of Payee. </FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:27px"><FONT FACE="Times New Roman" SIZE="2">Payee and any holder hereof is entitled to the benefits and subject to the conditions of the Loan Agreement and may enforce the agreements of
the Borrowers contained therein, and any holder hereof may exercise the respective remedies provided for thereby or otherwise available in respect thereof, all in accordance with the respective terms thereof. </FONT></DIV> <DIV><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:27px"><FONT FACE="Times New Roman" SIZE="2">All capitalized terms used in this Note and not otherwise defined herein shall have the same meanings herein as in the Loan Agreement. </FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:27px"><FONT FACE="Times New Roman" SIZE="2">This Note may be prepaid at any time, in whole or in part, without premium or penalty. Any prepayment of principal shall be accompanied by a
payment of accrued interest in respect of the principal being prepaid. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:27px"><FONT FACE="Times New Roman" SIZE="2">If any Event of Default shall occur and be continuing,
Payee may declare any or all obligations or liabilities of the Borrowers to Payee (including the unpaid principal hereunder and any interest due thereon) immediately due and payable without presentment, demand, protest or notice. </FONT></DIV>
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 <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:27px"><FONT FACE="Times New Roman" SIZE="2">The Borrowers hereby waive presentment, demand, notice, protest and all other demands and
notice in connection with the delivery, acceptance, performance, default or enforcement of this Note, assent to any extension or postponement of the time of payment or any other indulgence, to any substitution, exchange or release of collateral and
to the addition or release of any other party or Person primarily or secondarily liable. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:27px"><FONT FACE="Times New Roman" SIZE="2">This Note shall be governed by,
construed in accordance with, and deemed to take effect as a sealed instrument under, the internal laws of The Commonwealth of Massachusetts, without regard to principles of conflicts of law. Each of the Borrowers hereby submits to the exclusive
jurisdiction of the state and federal courts located in The Commonwealth of Massachusetts and in the County of Santa Clara, State of California in connection with any suit under or in connection with this Note. The Borrowers irrevocably waive any
objection which they may now or hereafter have to the laying of venue of any such action brought in the courts referred to in the preceding sentence and irrevocably waive and agree not to plead or claim in any such action that such action has been
brought in an inconvenient forum. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:27px"><FONT FACE="Times New Roman" SIZE="2">THE BORROWERS HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF
ACTION BASED UPON OR ARISING OUT OF ANY OF THE LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. EACH BORROWER RECOGNIZES AND
AGREES THAT THE FOREGOING WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR PAYEE TO ACCEPT THIS NOTE. EACH BORROWER REPRESENTS AND WARRANTS THAT IS HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY
TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. </FONT></DIV> <P></P>



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 <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:27px"><FONT FACE="Times New Roman" SIZE="2">IN WITNESS WHEREOF, the Borrowers have caused this Note to be signed under seal by their duly
authorized officers as of the day and year first above written. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3" WIDTH="43%"> <DIV><FONT FACE="Times New Roman" SIZE="2">INT&#146;L.<SMALL>COM</SMALL>, I<SMALL>NC</SMALL>.</FONT></DIV> </TD> </TR>
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<TD HEIGHT="16"> </TD> </TR>
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<TD VALIGN="top" WIDTH="3%"> <DIV STYLE="margin-left:13px; text-indent:-13px"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="43%"> <HR NOSHADE COLOR="#000000" ALIGN="left"></TD> </TR>
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<TD> <FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="43%"> <DIV><FONT FACE="Times New Roman" SIZE="2">Rory J. Cowan</FONT></DIV> <DIV><FONT FACE="Times New Roman" SIZE="2">Chief Executive Officer</FONT></DIV> </TD> </TR>
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<TD VALIGN="top" COLSPAN="3" WIDTH="43%"> <DIV><FONT FACE="Times New Roman" SIZE="2">I<SMALL>NTERNATIONAL</SMALL> L<SMALL>ANGUAGE</SMALL> E<SMALL>NGINEERING</SMALL> C<SMALL>ORPORATION</SMALL></FONT></DIV> </TD> </TR>
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<TD HEIGHT="16"> </TD> </TR>
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<TD VALIGN="top" WIDTH="3%"> <DIV STYLE="margin-left:13px; text-indent:-13px"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="43%"> <HR NOSHADE COLOR="#000000" ALIGN="left"></TD> </TR>
<TR>
<TD> <FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="43%"> <DIV><FONT FACE="Times New Roman" SIZE="2">Rory J. Cowan</FONT></DIV> <DIV><FONT FACE="Times New Roman" SIZE="2">Chief Executive Officer</FONT></DIV> </TD> </TR>
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<TD VALIGN="top" COLSPAN="3" WIDTH="43%"> <DIV><FONT FACE="Times New Roman" SIZE="2">H<SMALL>ARVARD</SMALL> T<SMALL>ANSLATIONS</SMALL>, I<SMALL>NC</SMALL>.</FONT></DIV> </TD> </TR>
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<TD HEIGHT="16"> </TD> </TR>
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<TD VALIGN="top" WIDTH="3%"> <DIV STYLE="margin-left:13px; text-indent:-13px"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="43%"> <HR NOSHADE COLOR="#000000" ALIGN="left"></TD> </TR>
<TR>
<TD> <FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="43%"> <DIV><FONT FACE="Times New Roman" SIZE="2">Rory J. Cowan</FONT></DIV> <DIV><FONT FACE="Times New Roman" SIZE="2">President</FONT></DIV> </TD> </TR>
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<TD VALIGN="top" COLSPAN="3" WIDTH="43%"> <DIV><FONT FACE="Times New Roman" SIZE="2">L<SMALL>IONBRIDGE</SMALL> T<SMALL>ECHNOLOGIES</SMALL> C<SMALL>ALIFORNIA</SMALL>, I<SMALL>NC</SMALL>.</FONT></DIV> </TD> </TR>
<TR>
<TD HEIGHT="16"> </TD> </TR>
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<TD VALIGN="top" WIDTH="3%"> <DIV STYLE="margin-left:13px; text-indent:-13px"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="43%"> <HR NOSHADE COLOR="#000000" ALIGN="left"></TD> </TR>
<TR>
<TD> <FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="43%"> <DIV><FONT FACE="Times New Roman" SIZE="2">Rory J. Cowan</FONT></DIV> <DIV><FONT FACE="Times New Roman" SIZE="2">Chief Executive Officer</FONT></DIV> </TD> </TR>
 </TABLE> </DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3" WIDTH="43%"> <DIV><FONT FACE="Times New Roman" SIZE="2">C<SMALL>HIEF</SMALL> E<SMALL>XECUTIVE</SMALL> O<SMALL>FFICER</SMALL></FONT></DIV> </TD> </TR>
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<TD HEIGHT="16"> </TD> </TR>
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<TD VALIGN="top" WIDTH="3%"> <DIV STYLE="margin-left:13px; text-indent:-13px"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="43%"> <HR NOSHADE COLOR="#000000" ALIGN="left"></TD> </TR>
<TR>
<TD> <FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" WIDTH="43%"> <DIV><FONT FACE="Times New Roman" SIZE="2">Rory J. Cowan</FONT></DIV> <DIV><FONT FACE="Times New Roman" SIZE="2">Chief Executive Officer</FONT></DIV> </TD> </TR>
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