Contract
EXHIBIT 4.5.4 – AGREEMENT TO CONVERT CONVERTIBLE SUBORDINATED NOTE TO SHARES OF THE COMPANY’S COMMON STOCK XXX XXXXXXXXX AND XXXXXXX X. XXXXX (CHARTER PRIVATE EQUITY, L.P.
Charter
HOLDINGS
December 23, 2003
Xx. Xxxxx X. Xxxxxxxxx
President/CEO
Advant-e Corporation
0000 Xxxxxx Xxxxxx Xxxx
Xxxxxx, XXX 00000
Xx. Xxxxxxxxx,
This letter is to inform you of our request to convert $25,000 of the Convertible Subordinated Note dated July 9, 2002 that we hold into common stock of Advant-e Corporation.
Based on the conversion price of $1.10 per share, we are expecting to be issued 22,727 shares of Advant-e Common Stock as per the Note Purchase Agreement dated July 9, 2002. The tax statements should reflect Charter Private Equity as the owner. We will reflect the basis on to the individuals.
Please issue the shares to these individuals who are the economic partners (90% & 10%) of Charter Private Equity:
Xxx X. Xxxxxxxxx 20,454 shares
Xxxxxxx X. Xxxxx 2,273 shares
The address for both individuals is:
0000 Xxxxxxx Xxxxxxx Xxxxxxx, Xxxxx 0000
Xxxxxx, XX 00000-0000
As of January 5, 2004 when the note is due, there will be $681 of accrued interest that we would like paid in cash to Charter Private Equity. We will forward to you the original Convertible Subordinated Note as per the terms of the Note Purchase Agreement.
Sincerely,
Charter Private Equity, LB
By: Charter Private Equity, GP Inc.
By: Xxx X. Xxxxxxxx, its President
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