INVESTORS COMPANYWaiver of Conversion Ratio Adjustment Right • May 15th, 1998 • Carver Corp • Household audio & video equipment
THIS WAIVER AGREEMENT, dated as of May 5, 1998, is by and among Carver Corporation, a Washington corporation (the "Company"), Renwick Special Situations Fund, L.P. and Renwick Alpha Fund, L.P. (together, the "Investors") and Renwick Capital Management, Inc. ("Renwick"). Capitalized terms used herein but not otherwise defined shall have the meanings ascribed to such terms in the Carver Corporation Certificate of Designation of Series A Cumulative Convertible Preferred Stock Setting Forth the Powers, Preferences, Rights, Qualifications, Limitations and Restrictions of Such Series of Preferred Stock (the "Certification of Designation").
