Exhibit 10.29

March 16, 2009

Q.E.P. Co., Inc.

Roberts Consolidated Industries, Inc.,

Roberts Holding International, Inc.,

Roberts Company Canada Limited,

Q.E.P. Zocalis Holding L.L.C.,

Boiardi Products Corporation,

Roberts Capitol, Inc.,

QEP-California, Inc.,

Q.E.P. Stone Holdings, Inc.,

1001 Broken Sound Parkway, NW, Suite A,

Boca Raton, Florida 33487

 

  Re: Forbearance Agreement Extension

Ladies and Gentlemen:

Q.E.P. CO., INC., a Delaware corporation, ROBERTS CONSOLIDATED INDUSTRIES, INC.,
a Delaware corporation, ROBERTS HOLDING INTERNATIONAL, INC., a Delaware
corporation, ROBERTS COMPANY CANADA LIMITED, a corporation amalgamated under the
laws of the province of Ontario, Canada, Q.E.P. ZOCALIS HOLDING L.L.C., a
Delaware limited liability company, BOIARDI PRODUCTS CORPORATION, a Florida
corporation, ROBERTS CAPITOL, INC., a Florida corporation, QEP-CALIFORNIA, INC.,
a California corporation and Q.E.P. STONE HOLDINGS, INC., a Florida corporation
(collectively “Borrower” or “you”) are obligated to BANK OF AMERICA, N.A.,
(“BOA”) and HSBC BANK USA, NATIONAL ASSOCIATION, (“HSBC” and together with BOA,
the “Lenders”), and BANK OF AMERICA, N.A., as agent for the Lenders,
(hereinafter referred to as the “Agent”) pursuant to that certain third Amended
and Restated Loan Agreement dated as of December 30, 2008 (as amended and in
effect from time to time, the “Loan Agreement”), whereby Lenders have extended
certain loans and other financial accommodations to Borrower secured by, among
other things, a security interest in all the business assets of Borrower, and
which payment and performance, now existing or hereafter arising, is guaranteed
by Roberts Company Canada Limited (“Guarantor” and together with Borrower,
Lenders, and Agent collectively the “Parties”). Capitalized terms used herein
and not otherwise defined shall have the meanings given to such terms in the
Loan Agreement unless otherwise specified herein.

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The Parties entered into that certain Forbearance Agreement dated January 22,
2009 (the “Forbearance Agreement”), which terminates on March 16, 2009. The
Parties have agreed that the Forbearance Period (as defined in the Forbearance
Agreement) be extended from March 16, 2009 through April 16, 2009. The parties
hereby agree that any and all references in the Forbearance Agreement to “March
16, 2009” are hereby deleted and replaced with a reference to “April 16, 2009”.
The Forbearance Agreement shall remain unmodified except as set forth herein.
This letter may be executed in any number of counterparts, each of which shall
constitute an original and all of which taken together shall constitute one
instrument.

If the terms of this letter are acceptable to you and you agree to be bound by
them, please so indicate by signing and returning the enclosed copy of this
letter. This letter shall not become effective unless it is signed by each of
the parties to whom it is addressed and returned to the Agent, to be received no
later than 5:00 p.m., March 16, 2009, TIME BEING OF THE ESSENCE.

 

AGENT:

BANK OF AMERICA, N.A.

By:

 

/s/    Seth Tyminski

Name:

  Seth Tyminski

Its:

  Assistant Vice President

LENDERS:

BANK OF AMERICA, N.A.

By:

 

/s/    Seth Tyminski

Name:

  Seth Tyminski

Its:

  Assistant Vice President HSBC BANK USA, NATIONAL ASSOCIATION

By:

 

/s/    Jose V. Mazariegos

  Jose V. Mazariegos, Senior Vice President

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ACCEPTED AND AGREED TO:

 

BORROWER:

Q.E.P. CO., INC.

By

 

/s/    Lewis Gould

Name:

  Lewis Gould

Its:

  President ROBERTS CONSOLIDATED INDUSTRIES, INC.

By:

 

/s/    Lewis Gould

Name:

  Lewis Gould

Its:

  President

(Duly Authorized)

ROBERTS HOLDING INTERNATIONAL, INC.

By

 

/s/    Lewis Gould

Name:

  Lewis Gould

Its:

  President

(Duly Authorized)

ROBERTS COMPANY CANADA LIMITED

By

 

/s/    Lewis Gould

Name:

  Lewis Gould

Its:

  President

(Duly Authorized)

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Q.E.P. ZOCALIS HOLDING L.L.C.

By

 

/s/    Lewis Gould

Name:

  Lewis Gould

Its:

  President

(Duly Authorized)

BOIARDI PRODUCTS CORPORATION

By

 

/s/    Lewis Gould

Name:

  Lewis Gould

Its:

  President

(Duly Authorized)

ROBERTS CAPITOL, INC.

By

 

/s/    Lewis Gould

Name:

  Lewis Gould

Its:

  President

(Duly Authorized)

QEP-CALIFORNIA, INC.

By

 

/s/    Lewis Gould

Name:

  Lewis Gould

Its:

  President

(Duly Authorized)

Q.E.P. STONE HOLDINGS, INC.

By

 

/s/    Lewis Gould

Name:

  Lewis Gould

Its:

  President

(Duly Authorized)

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GUARANTOR:

ROBERTS COMPANY CANADA LIMITED

By

 

/s/    Lewis Gould

Name:

  Lewis Gould

Its:

  President

(Duly Authorized)

cc: James C. Schulwolf, Esquire