Dr. Mohd Aslami Mr. Steven Phillips Mr. Charles DeLuca c/o US SolarTech, Inc. White Plains, New York 10601 Re: Amendment No.1 to Letter Agreement dated as of June 15, 2009: Extension of Amount Payable
Exhibit
10.14
August
12, 2009
Xx. Xxxx
Xxxxxx
Mr.
Xxxxxx Xxxxxxxx
Xx.
Xxxxxxx XxXxxx
c/o US
SolarTech, Inc.
000 Xxxx
Xxxxxx Xxxxx 000
Xxxxx
Xxxxxx, Xxx Xxxx 00000
Re:
Amendment No.1 to Letter Agreement dated as of June 15,
2009: Extension of Amount Payable
Dear
Sirs:
US
SolarTech, Inc. (the “Company”) hereby requests that
you memorialize your agreement to amend the letter agreements between each of
you and the Company, each dated as of June 15, 2009 (the “Letter Agreement”) by agreeing
to amend the Letter Agreement as set forth below:
1. Section
1(c) of the Letter Agreement shall be amended and restated as
follows:
Notwithstanding
any provision herein, in the event that the Company is not required to repay,
and the Officer is not required to convert, the Receivable pursuant to this
Section 1, the
Officer agrees to defer any right to receive the Receivable until February 1,
2011.
2. All other terms and conditions of
the Letter Agreement shall remain in full force and effect.
If you
accept this amendment, please fax your signed acceptance to the Company at (000)
000-0000 and mail the original to the Company.
Very
truly yours,
US
SOLARTECH, INC.
By:
Xxxxxx Xxxxxxxx
Chief
Financial Officer
AGREED
AND ACCEPTED AS OF SEPTEMBER 30, 2009
_____________________
Xxxx
Xxxxxx
_____________________
Xxxxxx
Xxxxxxxx
_____________________
Xxxxxxx
XxXxxx
