EXHIBIT 10.2 [HEI INC LETTERHEAD] May 16, 2003 Whitebox Hedged High Yield Partners c/o Andrew J. Redleaf Chief Executive Officer Whitebox Advisors, LLC 3033 Excelsior Boulevard Suite 300 Minneapolis, MN 55416 Dear Andy, This letter is written to...Hei Inc • July 15th, 2003 • Semiconductors & related devices
This letter is written to confirm the understanding between HEI, Inc. ("HEI") and Whitebox Hedged High Yield Partners ("Whitebox") relating to the Subordinated Promissory Note (the "Note") of HEI dated January 24, 2003 payable to the order of Colorado Madtech, Inc. ("CMED") in the original principal amount of $2,600,000 (the "Face Value") of the Note. We understand that CMED sold the Note to Whitebox on May 8, 2003. The Note is subordinated to certain indebtedness (the "Senior Debt") of HEI to LaSalle Business Credit, Inc. ("LaSalle") in accordance with the terms of a Subordination Agreement (the "Subordination Agreement") dated January 24, 2003 executed by CMED in favor of LaSalle, which Subordination Agreement is binding upon Whitebox as the transferee of the Note.
EXHIBIT 10.1 ACCOUNTS RECEIVABLE AGREEMENT This Agreement entered into as of May 29, 2003 by and among HEI, Inc. (herein called "Client"), a Minnesota corporation, whose addresses are 1495 Steiger Lake Lane, Victoria, MN 55386 and 610 S Rockford...Accounts Receivable Agreement • July 15th, 2003 • Hei Inc • Semiconductors & related devices • Minnesota
