PWR SYSTEMS, INC. 3512 Veterans Memorial Highway Bohemia, New York 11716Promissory Note Deferral Agreement • January 14th, 2002 • Vizacom Inc • Services-prepackaged software
This letter shall serve to evidence your agreement to defer payment of the first two installments under the Second Amended and Restated Promissory Note, dated September 28, 2001, made by PWR Systems, Inc. (the "Company") in your favor in the aggregate principal amount of $153,412, until the earlier of (i) March 1, 2002, or (ii) the date of the first closing under a private placement of Vizacom Inc. ("Vizacom") common stock, par value $.001 per share, to accredited investors as contemplated by the Letter of Intent dated September 7, 2001, between SpaceLogix, Inc. and Vizacom. Interest shall continue to accrue during the deferment period.
