[LASERGATE SYSTEMS, INC. LETTERHEAD]
October 30, 1997
RBB Bank Aktiengesellschaft
Attn: Xx. Xxxxxxx Xxxxxxx
Xxxxxxxx 00, 0000 Xxxx
Xxxxxxx
Dear Xxxxxxx:
By signing in the space below, and returning a copy of this letter by fax, you
confirm your agreement that in consideration of Lasergate System Inc's (LSi)
acceptance of your subscription to purchase 7,500 shares of Series G Convertible
Preferred Stock at a total price of seven million five hundred thousand dollars
($7,500,000 U.S.) upon LSi's election in writing on or before midnight EST
November 6, 1997, you will cause the holders of seven thousand nine hundred
forty-five (7,945) shares of the issued and outstanding Series F Convertible
Preferred Stock, to sell such stock to LSi for a total price of six million
dollars ($6,000,000 U.S.) payable to RBB Bank Aktiengesellschaft against
delivery of the shares.
Sincerely,
/s/ Xxxxxxxxxx X. Xxxxxxxx
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Xxxxxxxxxx X. Xxxxxxxx
Chairman, CEO, President
Agreed:
RBB Bank Aktiengesellschaft
By: /s/ Xxxxxxx Xxxxxxx
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Xxxxxxx Xxxxxxx Date
Head Trader
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Title
