EXHIBIT 10.1 November 4, 2005 VIA FAX: (239-592-0941) Mr. Richard A. Schmidt Stellar Technologies, Inc. 7935 Airport Pulling Road, Suite 201 Naples, FL 34109 Dear Dick: Reference is hereby made to that certain Loan Agreement (the "Loan Agreement")...Loan Agreement • November 14th, 2005 • Stellar Technologies, Inc. • Services-computer integrated systems design
Reference is hereby made to that certain Loan Agreement (the "Loan Agreement") dated April 1, 2005 by and between Trident Growth Fund L.P. ("Trident") and Stellar Technologies, Inc. ("Stellar"). By executing below, Trident hereby agrees to (i) waive the event of default and all associated penalties, as a result of Stellar's failure to comply with the financial covenants contained in Section 5.14 of the Loan Agreement and (ii) waive compliance with Section 5.14 of the Loan Agreement for a period of 180 days. Further in accordance with section 6.10 No Further Issuance of Securities of the Loan Agreement, Trident hereby consents to the issuance of securities in accordance with the terms set forth in Exhibit A hereto.
