Exhibit 99.1
Amendment to Letter Agreement
This agreement hereby amends the Letter Agreement dated June 25, 2000 (the
"Letter Agreement") among Sheldahl, Inc. ("Sheldahl" or the "Company"),
Morgenthaler Partners ("Morgenthaler") and International Flex Technologies,
Inc. ("IFT").
In exchange for the mutual covenants set forth below, the parties agree
as follows:
1. The date in Section 4 of the Letter Agreement shall be modified
to read August 21, 2000.
2. Notwithstanding Section 1 of the Letter Agreement, in the event
Morgenthaler does not invest $2 million in Sheldahl by the end of the
day on August 14, 2000, Sheldahl shall have the right to initiate,
solicit, entertain, negotiate, accept or discuss, directly or
indirectly any proposal or offer (a "Financing Proposal") to acquire
securities from or make a loan or advance to the Company.
3. All other provisions of the Letter Agreement not modified herein
shall remain in full force and effect.
4. This Amendment may be executed in counterparts, each of which
shall be deemed to be an original, but all of which together
shall constitute one agreement.
In witness whereof, the parties have executed this Amendment as of
August 7, 2000.
SHELDAHL, INC. MORGENTHALER PARTNERS
By: /s/ Edward L. Lundstrom By: /s/ John D. Lutsi
Edward L. Lundstrom John D. Lutsi
President and Chief Executive Officer President
INTERNATIONAL FLEX TECHNOLOGIES, INC.
By: /s/ Donald R. Friedman
Donald R. Friedman
President and Chief Executive Officer
