EXHIBIT 10(D)
[MARZOLI LETTERHEAD]
Xxxxxxxx Industries, Inc.
P.O. Box 31215
Charlotte, NC 28231 - U.S.A.
Attention To: Xx. Xxxxxx X. Xxxxxxxx
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Xxxxxxxxx S/O, 16/12/99
Re: Xxxxxxxx Industries, Inc. - Agreement with Marzoli S.p.A.
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Dear Xx. Xxxxxxxx,
We understand from your conversation with Xxxxx Xxxxxxx on December 2nd
that you agree that our arrangement should be ended. This is to confirm that the
agreement is now terminated and that Xxxxxxx will assume full control of the
business immediately. Xxxxxxx will pay all commissions due (3%) on sales
completed up to the date of this letter according to the terms of the agreement
and a final accounting.
Please have your property removed from the premises by January 15,
2000. Of course, Speizman will be expected to discontinue its use of the
"Marzoli" and/or "Xxxx" names in any manner immediately, as well as any
activities suggesting that Speizman is or represents Marzoli or Xxxx. There have
been a number of other problems about which we have learned recently, such as
your systematic effort to outsource Marzoli and/or Xxxx spare parts which
undermines the sales of Marzoli and/or Xxxx parts. Please return immediately all
Marzoli parts that you are using in this effort.
Please call Xx. Xxxxx X. Xxxxxxxxxx, our local manager, as soon as
possible to discuss plans for the accounting and the disposition of your
property on the premises.
Very truly yours,
Xxxxxxx Xxxxxxx
President and CEO
/s/ Xxxxxxx Xxxxxxx
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cc: Xxxx Xxxxxxx
Xxxxx X. Xxxxxxxxxx
