Exhibit 4.11
Winterstone Management, Inc.
00000 Xxxxx Xxxxxx
Xxxxx 000
Xxxxxx, Xxxxx 00000
(000) 000-0000
Fax (000) 000-0000
October 15, 1999
Xx. Xx Xxxxxxxx
Performance Interconnect Corp.
00000 XX 000 Xxxx
Xxxxxx, XX 00000
Dear Xx. Xxxxxxxx:
The purpose of this letter is to memorialize our agreement with respect to
certain financial arrangements provided through our firm.
From July 1, 1999 to October 15, 1999 our firm has ranged net advances to
Performance Interconnect Corp ("PLC") of $838,682.46. As of October 15,
1999, the accrued interest on these advances is $22,295.42, bringing the
balance due to $860,977.88.
You agree to pay this balance as follows:
1. Assumption of full liability for all payments on a note payable by
Winterstone Management Inc. ("WMI") to Zion Capital Inc. dated
September 30, 1999 in the original principal balance of $250,000.00.
The assumption of this note shall be credited against $241,500.00 of
the advances, reflecting the loan costs of $8,500.00 paid by WMI.
2. The balance of the advances shall be paid by delivery and payment of a
promissory note from PLC to Nations Investment Corp Ltd. in the amount
of $619,477.88.
Xx. Xx Xxxxxxxx
October 18, 1999
Page 2
In addition, the $555,867.00 note dated June 30, 1999 payable to WMI from
PLC has also been assigned to Nations Investment Corp. A replacement note
must be signed.
Please evidence your agreement below.
Sincerely,
/s/
X. Xxxxxx Xxxxx
AGREED AND ACCEPTED:
Perfomance Interconnect Corp.
/s/
----------------------
Xx Xxxxxxxx, President
