EX-4.9 LETTER AGREEMENT
Sonic Jet Performance, Inc.
00000 Xxxxxxx Xxxxxx, Xxxx 00
Xxxxxxx, Xxxxxxxxxx 00000
(714) 895-0944
April 15, 2003
Xxxxx Xxxxxxxxx
Xxxxxxx Capital
00 Xxxxxxxxxx
Xxxxx Xxxxx, XX 00000
Dear Xx. Xxxxxxxxx:
This letter confirms the agreement between the parties, Ashford
Capital and Sonic Jet Performance, Inc. (hereafter "Sonic Jet")
regarding the conversion of Ashford's holding in TSG, International
into shares of Sonic Jet preferred stock. Ashford currently holds all
of the outstanding shares of Series A preferred issued which convert
into 10% of TSG, International at the election of the holder. In
consideration for the exchange of all shares held by Ashford, Sonic
Jet will exchange 50 shares of Series C preferred on or before October
15, 2003.
This agreement was provided in consideration for your agreement to
sell a portion of your Series B shares and to assign the rights
associated to the shares in Yankee Maritime in the investment
currently contemplated. In order to affect the exchange, must notify
Sonic Jet 3 days prior to the exchange.
This agreement is transferable in the event the shares are sold or
exchanged. Please acknowledge your agreement by signing below.
Sincerely,
/s/ Xxx Xxxxxx
Xxx Xxxxxx, President
Sonic Jet Performance, Inc.
cc: files
Agreed and Accepted:
/s/ Xxxxx Xxxxxxxxx April 17, 2003
Xxxxx Xxxxxxxxx, Xxxxxxx Capital, LLC Date
