EXHIBIT 10.02(d)
AGREEMENT TO DEFER PRINCIPAL PAYMENTS ON PROMISSORY NOTE
WHEREAS, the Undersigned is the Payee of an Amended and Restated
Non-Negotiable Promissory Note dated July 28,1989 in an original amount of
$596,821.79 issued by Meridian National Corporation; and
WHEREAS, the entire principal balance of said Note became due and payable
on September 15,1995; and
WHEREAS, pursuant to said Note, its Payee may convert the Note, in whole or
in part, into shares of Common Stock of Meridian National Corporation; and
WHEREAS, pursuant to a Subscription Agreement dated May 31,1996, Payee
received 600,000 shares of Common Stock in exchange for a $300,000 reduction in
the principal amount of said Note; and
WHEREAS, Payee agreed to a reduction in the principal amount of said note
of $21,589.53 as payment of principal and interest owed by Payee on certain
Promissory Notes in April and May 1996.
NOW THEREFORE, the undersigned agrees, for due consideration, the receipt
of which is hereby acknowledged, that Payee will not seek payment from Meridian
National Corporation of the principal payments stipulated in the Note prior to
March 1,1995.
Dated April 22, 1997, at Toledo, Ohio
By: \s\ Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx
Acknowledged By:
MERIDIAN NATIONAL CORPORATION
By: \s\ Xxxxx X. Xxxxxx
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Vice President - Finance
