for i in *.sh; do
cat $i | sed 's/spam/ham/g' >new.$i;
done

sed -e 's/\(scott\)\/\([^ @]*\)/\1\/newpassword/' -i test.sh
sed: illegal option -- i # in Solaris

echo "     Changing old passwords in the all files in current directory: "
echo "     `pwd`; echo;
echo -n "     Enter the old password: "; read OLD_PASSWORD; echo;
echo -n "     Enter the new password: "; read NEW_PASSWORD; echo;

sed 's/${OLD_PASSWORD}/${NEW_PASSWORD}/g' test.sh > test.tmp && mv test.tmp test.sh

DIRECTORY=`pwd`

 for  i in `ls ${DIRECTORY}`;  do 
	cat $i | sed -e "s/${OLD_PASSWORD}/${NEW_PASSWORD}/g" > tmp_$i && mv tmp_$i $i;
done