Xxxxx X. Xxxxxx
Quality Products, Inc.
000 Xxxxxx Xxxxxx
Xxxxxxxx, Xxxx 00000-0000
February 27, 1998
TO: Xxxxxx Xxxxxxxxx
Xxxxxxx X. Xxxxx
Dear Xxxxxx and Xxxxxxx:
. This letter will confirm that we have agreed as follows:
1. You will refrain from exercising your conversion
rights under your 6% convertible Notes at least until
March 6, 1998.
2. In consideration for your agreement above, Quality Products,
Inc. will agree to give at least 10 business days written
notice to each of you by XxxXx and fax at your respective
business addresses before attempting to pay any principal
amount of your respective notes or before changing the
March 10, 1998 record date for the meeting of stockholders.
The purpose of this is to give you 10 business days opportunity
to convert your notes, before we could pay them and to permit
you to vote the shares at the upcoming stockholders meeting if
you desire.
Very truly yours,
QUALITY PRODUCTS, INC.
By:/s/Xxxxx X. Xxxxxx
---------------------------
Xxxxx X. Xxxxxx, President
READ AND AGREED:
/s/ Xxxxxx Xxxxxxxxx
--------------------------
Xxxxxx Xxxxxxxxx
/s/ Xxxxxxx X. Xxxxx
--------------------------
Xxxxxxx X. Xxxxx
