EXHIBIT 4.11
April 10, 1997
Xx. Xxxxx Xxxxxxx VIA: Fax (000-000-0000)
Ally Capital Corporation
Marina Plaza
0000 Xxxxxxxxx Xxx, Xxxxx 000
Xxxxxxxxx, Xxxxxxxxxx 00000-0000
Re: Prepayment of Lease
Dear Xxxxx:
In accordance with the letter agreement dated December 18, 1996
between Ally and Electrosource, as amended by letter agreement
dated January 20, 1997, Ally and Electrosource hereby agree to
adjust the number of shares issued to Ally on behalf of the
Lessors to 127,500 shares. The adjustment is to reflect the
subsequent lease payments made to reduce the indebtedness since
December. We will continue payments per our agreement until the
obligation is satisfied.
The existing certificate for 160,000 will be canceled and
replaced with a new stock certificate for 127,500 shares. We
will deliver this to you as soon as possible, which I anticipate
during the week of April 14. There are no other changes to the
agreement.
Please indicate your agreement to this amendment where provided
below and return a copy of this letter by fax (000-000-0000) and
mail at your earliest convenience.
We appreciate your cooperation and attention to this matter.
Very truly yours,
/s/
Xxxxx X. Xxxxx
Vice President Finance
and General Counsel
AGREED TO AND ACCEPTED this 11th day of April, 1997.
ALLY CAPITAL CORPORATION
By: /s/
Xxxxxxx X. Xxxxxxx
Its: Vice President
