Document:

December
23, 2010

    

    BY EMAIL

    Mr. John
C.C. Fan, President and Chief Executive Officer

    Kopin
Corporation

    200 John
Hancock Road

    Taunton,
Massachusetts 02780

    

    
      	
              Attention:

            	
              Mr.
      John C.C. Fan, President and Chief Executive
  Officer

            

    

    
      	
               
      

            	
              Mr.
      Richard Snider, Treasurer and Chief Financial
  Officer

            

    

    

    Dear
Sirs,

    

    Reference
is made to a letter agreement between Kopin Corporation (“Kopin”) and Vuzix
Corporation (“Vuzix) dated December 21, 2009 (the “Letter
Agreement”).  Pursuant to the Letter Agreement, the parties agreed
that, among other things, $746,000 (the “Deferred Portion”) of the amount then
due Kopin from Vuzix would be deferred until January 15, 2011, at which time the
Deferred Amount, together with interest accrued at the rate of ten percent (10%)
per annum, would be payable in full.

    

    Vuzix is
entering into certain financing arrangements (the “New Financing”) with Lampe
Conway ( by their LC CAPITAL MASTER FUND LTD fund) to provide a $4,000,000 term
loan.  It is a condition of the closing of such financing arrangements
that payment of the Deferred Portion be further deferred.

    

    Kopin
believes that it is in its best interest that the New Financing be
closed.  Therefore, in order to enable Vuzix to close the New
Financing, the parties agree that the Letter Agreement shall be, and it hereby
is, amended as follows:

    

    
      	
               
      

            	
              1.

            	
              The
      effective date of this amendment (the “Effective Date”) shall be the
      closing date of the New Financing (the “Closing
  Date”).

            

    

    

    
      	
               
      

            	
              2.

            	
              The
      date of January 15, 2011 in the second and third paragraphs of the Letter
      Agreement shall be substituted with January 15,
  2013.

            

    

    

    
      	
               
      

            	
              3.

            	
              The
      interest rate in the third paragraph of the Letter Agreement on the
      Deferred Portion shall be increased to twelve (12%) per annum commencing
      on January 16, 2011.

            

    

    

    
      	
               
      

            	
              4.

            	
              The
      Deferred Portion and all accrued interest thereon shall be as
      follows:

            

    

    

    
      	
               
      

            	
              a.

            	
              Interest
      shall accrue at the increased rate from and after January 16, 2011 and
      shall be paid monthly as part of the blended payment in 4(b)
      below.

            

    

    
      	
               
      

            	
              b.

            	
              The
      Deferred Portion, together with interest accrued of $79,709.59 through to
      its original due date of January 15, 2011, totaling $825,709.59 in
      principal and interest, shall be paid in twenty five (25) equal monthly
      installments of  Thirty Seven Thousand One Hundred and Eight
      Dollars and Forty Four Cents ($37,108.44) beginning on January 15,
      2011.

            

    

    

    
      	
               
      

            	
              5.

            	
              As
      additional compensation, on the Effective Date, Vuzix Corporation will
      issue to Kopin warrants (the “Warrants”) to purchase 1,651,419 common
      shares of Vuzix at an exercise price equal to US$0.09965 per
      share.  The Warrants shall be exercisable until January 15,
      2013. The final terms and conditions of the Warrants are subject to the
      approval of the Toronto Venture Stock
Exchange.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              6.

            	
              Kopin
      herein agrees to execute and enter into a Intercreditor Agreement with The
      Private Bank of the Peninsula Bank and Lampe Conway simultaneous with the
      closing of the New Financing, the form of which is substantially
      represented in Appendix A herein.

            

    

    

    
      	
               
      

            	
              7.

            	
              The
      fourth paragraph of the Letter Agreement is amended by replacing the
      amount “US$2.0M” in each place in which it appears with the amount of
      “US$10.0 million” and by replacing the words “apply not less than 50% of
      the proceeds from the Qualified Offering in excess of US$2.0M to the
      prepayment of the Deferred Portion” with the words “apply not less than
      50% of the proceeds from the Qualified Offering in excess of US$10.0
      million to the payment of amounts due all parties (including Kopin) who
      have entered Intercreditor Agreements with the Lenders, pro rata to the
      amounts due them.”.

            

    

    

    
      	
               
      

            	
              8.

            	
              Except
      as herein provided, the Letter Agreement shall otherwise remain in full
      force and effect.

            

    

    

    Please
acknowledge your agreement to the foregoing by signing a copy of this letter in
the spaces provided below and returning it to the undersigned.

    

    
      
        	
                Yours
      truly,

              
	 
      
	
                VUZIX
      CORPORATION

              
	 
      
	
                By: 

              	
                /s/ Paul Travers

              
	 
      	
                Name:
      Paul Travers

              
	 
      	
                Title:
      President & CEO

              

      

    

    

    Confirmed
and Agreed to as of the date first above written.

    

    
      
        
          
            
              	
                      KOPIN
      CORPORATION

                    
	 
      	 
      
	
                      By: 

                    	
                      /s/ Richard Snyder

                    
	 
      	
                      Name:  Richard
      Snyder

                    
	 
      	
                      Title:  CFODecember
23, 2010

    

    BY EMAIL

    Vast
Technologies Inc.

    7F, No 80
SEC 1 Kuang Fu RD

    San
Chung, Taipei, 24158

    Taiwan

    

    Dear Mr.
Wei Chuan Liao,

    

    Reference
is made to a letter agreement between Vast Technologies Inc. (“Vast”) and Vuzix
Corporation (“Vuzix) dated December 21, 2009 (the “Letter
Agreement”).  Pursuant to the Letter Agreement, the parties agreed
that, among other things, $1,000,000 (the “Deferred Portion”) of the amount then
due Vast from Vuzix would be deferred until January 15, 2011, at which time the
Deferred Portion, together with interest accrued at the rate of ten percent
(10%) per annum, would be payable in full.

    

    Vuzix is
entering into certain financing arrangements (the “New Financing”) with Lampe,
Conway & Co., LLC to provide a $4,000,000 three year term
loan.  It is a condition of the closing of such financing arrangements
that payment of the Deferred Portion be further deferred.

    

    Vast
believes that it is in its best interest that the New Financing be
closed.  Therefore, in order to enable Vuzix to close the New
Financing, the parties agree that the Letter Agreement shall be, and it hereby
is, amended as follows:

    

    
      	
              1.  

            	
              The
      effective date of this amendment (the “Effective Date”) shall be the
      closing date of the New Financing (the “Closing
  Date”).

            

    

    

    
      	
              2.  

            	
              The
      date of January 15, 2011 in the second and third paragraphs of the Letter
      Agreement shall be substituted with January 15,
  2014.

            

    

    

    
      	
              3.  

            	
              The
      interest rate in the third paragraph of the Letter Agreement on the
      Deferred Portion shall be increased to twelve (12%) per annum commencing
      on January 16, 2011.

            

    

    

    
      	
              4.  

            	
              The
      Deferred Portion and all accrued interest thereon shall be as
      follows:

            

    

    
      	
              a.  

            	
              Interest
      shall accrue at the increased rate from and after January 16, 2011 and
      shall be paid monthly as part of the blended payment in 4(b)
      below.

            

    

    
      	
              b.  

            	
              The
      Deferred Portion, together with interest accrued of $106,949.32 through to
      its original due date of January 15, 2011, totaling $1,106,849.32 in
      principal and interest, shall be paid in thirty-seven (37) equal monthly
      installments of  Thirty Five Thousand Five Hundred and Seven
      Three Dollars and Forty Three Cents ($35,573.43) beginning on January 15,
      2011.

            

    

    

    
      	
              5.  

            	
              As
      additional compensation, on the Effective Date, Vuzix Corporation will
      issue to Vast (or its named nominee) warrants (the “Warrants”) to purchase
      1,662,274 common shares of Vuzix at a exercise price equal to Cdn$0.10 per
      share.  The Warrants shall be exercisable until January 15,
      2014. The final terms and conditions of the Warrants are subject to the
      approval of the Toronto Venture Stock
Exchange.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              6.  

            	
              Vast
      herein agrees to execute and enter into a Intercreditor Agreement with
      Lampe Conway simultaneous with the closing of the New Financing, the form
      of which is substantially represented in Appendix A
  herein.

            

    

    

    
      	
              7.  

            	
              The
      fourth paragraph of the Letter Agreement is amended by replacing the
      amount “US$2.0M” in each place in which it appears with the amount of
      “US$10.0 million” and by replacing the words “apply not less than 50% of
      the proceeds from the Qualified Offering in excess of US$2.0M to the
      prepayment of the Deferred Portion” with the words ““apply not less than
      50% of the proceeds from the Qualified Offering in excess of US$10.0
      million to the payment of amounts due all parties who have entered
      Intercreditor Agreements with the Lenders, pro rata to the amounts due
      them.”

            

    

    

    
      	
              8.  

            	
              Except
      as herein provided, the Letter Agreement shall otherwise remain in full
      force and effect.

            

    

    

    Please
acknowledge your agreement to the foregoing by signing a copy of this letter in
the spaces provided below and returning it to the undersigned.

    

    
      
        
          
            
              
                
                  
                    	
                            Yours
      truly,

                          
	 
      
	
                            VUZIX
      CORPORATION

                          
	 
      
	
                            By: 

                          	
                            /s/
      Paul Travers

                          
	 	
                            Name:
      Paul Travers 

                          
	 	
                            Title:
      President &
CEO

                          

                  

                

              

            

          

        

      

    

    

    Confirmed
and Agreed to as of the date first above written.

    

    
      
        	
                VAST
      CORPORATION

              
	 
      	 
      
	
                By: 

              	
                /s/ Johnny Liao

              
	 
      	
                Name:  Johnny
      Liao

              
	 
      	
                Title:  President

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