Exhibit 10.2
[LETTERHEAD]
VIA FAX
March 9, 1999
PRIVATE AND CONFIDENTIAL
Bright Technologies, Inc.
0000 Xxxxxx Xxxx
Xxxxxxxxx, XX
Attention: Xx. Xxxxxx Xxxxxxxxxx
Dear Xxx:
Re: TEE-COMM ELECTRONICS INC. - AMENDMENT TO AGREEMENT
Further to our recent telephone discussions, this letter confirms that
paragraph 11 of the Agreement dated as of January 14, 1999 among Xxxxxx
Xxxxxxxxxx, Bright Technologies Inc. and Ernst & Young Inc. in its capacity
as court-appointed receiver and manager for Tee-Comm Electronics Inc. (the
"Agreement") is hereby amended to read as follows:
"On the later of the 91st day following perfection of the grant of the
mortgage and (a) the foreclosure of the mortgage or (b) timely receipt by the
Receiver of the $300,000 payment required pursuant to paragraph 1 hereof, the
Receiver will (i) release the guarantee and (ii) return to Xxxxxxxxxx the
Xxxxxxxxxx Affidavit."
The remainder of the Agreement is unchanged. Please confirm your agreement
with this amendment by signing a copy of this letter in the space provided
below and returning that copy to the undersigned.
Yours very truly,
ERNST & YOUNG INC.
Court-appointed Receiver and Manager
of Tee-Comm Electronics Inc
Per:
/s/ Xxxxxx Xxxxxxx
X.X. Xxxxxxx
Senior Vice President
(000) 000-0000
cc Xxxx Xxxxxxx
Xxxx Xxxxxx
-2-
[LETTERHEAD]
We hereby agree with the foregoing
/s/ Xxxxxx Xxxxxxxxxx /s/ Xxxxxx Xxxxxxxxxx, President
------------------------------------ ---------------------------------
Xx. Xxxxxx Xxxxxxxxxx Bright Technologies Inc.
