Exhibit 10.69

 

January 6, 2005

 

Mr. Charles M. Swoboda

President & CEO

Cree, Inc.

4600 Silicon Drive

Durham, NC 27703

 

Re: Notice of Extension of Amended and Restated Exclusive Supply Agreement

 

Dear Chuck:

 

On behalf of Charles & Colvard, Ltd. (“C&C,” formerly known as C3, Inc.) it is
my pleasure to provide written notice to Cree, Inc. (“Cree,” formerly known as
Cree Research, Inc.) of the exercise of the option provided in Section 3.2 of
the Amended and Restated Exclusive Supply Agreement dated June 6, 1997 by an
between C&C and Cree (the “Agreement”) to extend the term of the Agreement for
an additional period of 10 years beginning July 15, 2005 and expiring on July
14, 2015.

 

Please acknowledge receipt of this notice by signing and returning a copy of
this notice to my attention.

 

CHARLES & COLVARD, LTD. By:  

/s/ Robert S. Thomas

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    Robert S. Thomas     President & CEO

 

CREE, INC. By:  

/s/ Charles M. Swoboda

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    Charles M. Swoboda     President & CEO