Document:

Exhibit 10.1
	
	 	H O L D I N G S, I N C.

 

 

SENT VIA EMAIL

 

Alex Lau

Golden Properties LLC

 

 

		Re:	Debt Conversion Terms

 

 

Dear Alex:

 

In a previous letter,
I notified you that Abtech Holdings, Inc. (the “Company”) had granted to you the right to convert your outstanding
loans to the Company into shares of the Company’s common stock (the “Common Stock”) at a conversion price
of $0.00627 per share (the “Conversion Price”). This conversion right was conditioned upon the Company successfully
amending its Articles of Incorporation to increase the number of authorized shares to accommodate the conversion of your loans
and the conversion of debt by other debtholders who were offered the same conversion terms.

 

The purpose of this
letter is to advise you that on November 6, 2018, the Company completed a reverse stock split with a corresponding adjustment to
its number of authorized shares. These events activated your conversion right effective for 30 days beginning November 6, 2018
and ending December 6, 2018.

 

In addition, I am pleased
to inform you that on November 15, 2018, the Company’s Board of Director’s approved an adjustment to the Conversion
Price of $0.00627 per share ($1.254 per share post-split) to $1.10 per share (post-split). This revised conversion right will expire
on December 6, 2018.

 

Please refer to Schedule
1 attached hereto for an updated accounting of your loans to the Company including the calculation of interest due (collectively,
the “Debt”), which are eligible for the conversion right described in this letter.

 

If you intend to take
advantage of this conversion right, please complete the accompanying NOTICE REGARDING INTENT TO CONVERT DEBT and send it to me
on or before December 6, 2018. Upon receipt of your notice we will ask our stock transfer agent to issue a certificate to you for
the appropriate number of shares.

 

If you have any questions
regarding the conversion of your Debt into Common Stock, please contact me at grink@abtechindustries.com or Lane Castleton at lcastleton@abtechindustries.com.

 

 

	 	Yours truly,
	 	 	 
	 	Abtech Holdings, Inc.
	 	 	 
	 	 	 
	 	By: 	/s/ Glenn R. Rink
	 	Name:  	Glenn R. Rink
	 	Title:  	President, C.E.O.

 

 

	
        4110 N. Scottsdale Rd., Suite 235 Scottsdale AZ
        85251

        Phone 480.874.4000 Toll Free 1.800.545.8999
        Fax 480.970.1665 Web www.abtechindustries.com
	

     

     

    

 

Schedule 1

 

	LENDER	Loan Date	 Loan 

Amount 	Interest Rate	 Interest Accrued 	Total Amount Due 	Rate	Number of Shares of Common Stock to be Issued Upon Conversion
	 	 	 	 	 	 	 	 
	Golden Properties LLC	3/15/16	 $   150,000.00 	10%	 $      40,931.51 	 $   190,931.51 	1.10	                 173,574 
	Golden Properties LLC	3/28/16	      150,000.00 	10%	        40,397.26 	      190,397.26 	1.10	                 173,088 
	Golden Properties LLC	4/11/16	      100,000.00 	10%	        26,547.95 	      126,547.95 	1.10	                 115,044 
	Golden Properties LLC	4/25/16	      100,000.00 	10%	        26,164.38 	      126,164.38 	1.10	                 114,695 
	Golden Properties LLC	5/6/16	      200,000.00 	10%	        51,726.03 	      251,726.03 	1.10	                 228,842 
	Golden Properties LLC	6/14/16	      100,000.00 	10%	        24,794.52 	      124,794.52 	1.10	                 113,450 
	Golden Properties LLC	7/7/16	      150,000.00 	10%	        36,246.58 	      186,246.58 	1.10	                 169,315 
	Golden Properties LLC	7/15/16	      110,000.00 	10%	        26,339.73 	      136,339.73 	1.10	                 123,945 
	Golden Properties LLC	7/28/16	      150,000.00 	10%	        35,383.56 	      185,383.56 	1.10	                 168,531 
	Golden Properties LLC	8/12/16	      200,000.00 	10%	        46,356.16 	      246,356.16 	1.10	                 223,960 
	Golden Properties LLC	8/23/16	      150,000.00 	10%	        34,315.07 	      184,315.07 	1.10	                 167,559 
	Golden Properties LLC	9/8/16	      200,000.00 	10%	        44,876.71 	      244,876.71 	1.10	                 222,615 
	Golden Properties LLC	9/23/16	      165,000.00 	10%	        36,345.21 	      201,345.21 	1.10	                 183,041 
	Golden Properties LLC	10/5/16	      285,000.00 	10%	        61,841.10 	      346,841.10 	1.10	                 315,310 
	Golden Properties LLC	10/20/16	      205,000.00 	10%	        43,639.73 	      248,639.73 	1.10	                 226,036 
	Golden Properties LLC	11/3/16	      171,000.00 	10%	        35,746.03 	      206,746.03 	1.10	                 187,951 
	Golden Properties LLC	11/17/16	      177,000.00 	10%	        36,321.37 	      213,321.37 	1.10	                 193,929 
	Golden Properties LLC	12/2/16	      132,000.00 	10%	        26,544.66 	      158,544.66 	1.10	                 144,132 
	Golden Properties LLC	12/16/16	      143,000.00 	10%	        28,208.22 	      171,208.22 	1.10	                 155,644 
	Golden Properties LLC	12/29/16	      193,000.00 	10%	        37,383.84 	      230,383.84 	1.10	                 209,440 
	Golden Properties LLC	1/13/17	      160,000.00 	10%	        30,334.25 	      190,334.25 	1.10	                 173,031 
	Golden Properties LLC	1/26/17	      136,000.00 	10%	        25,299.73 	      161,299.73 	1.10	                 146,636 
	Golden Properties LLC	2/9/17	      158,000.00 	10%	        28,786.30 	      186,786.30 	1.10	                 169,806 
	Golden Properties LLC	2/24/17	      153,000.00 	10%	        27,246.58 	      180,246.58 	1.10	                 163,861 
	Golden Properties LLC	3/9/17	      158,000.00 	10%	        27,574.25 	      185,574.25 	1.10	                 168,704 
	Golden Properties LLC	3/23/17	      167,000.00 	10%	        28,504.38 	      195,504.38 	1.10	                 177,731 
	Golden Properties LLC	4/6/17	      151,000.00 	10%	        25,194.25 	      176,194.25 	1.10	                 160,177 
	Golden Properties LLC	4/20/17	      155,000.00 	10%	        25,267.12 	      180,267.12 	1.10	                 163,879 
	Golden Properties LLC	5/4/17	      158,000.00 	10%	        25,150.14 	      183,150.14 	1.10	                 166,500 
	Golden Properties LLC	5/18/17	      126,000.00 	10%	        19,573.15 	      145,573.15 	1.10	                 132,339 
	Golden Properties LLC	6/2/17	      142,000.00 	10%	        21,475.07 	      163,475.07 	1.10	                 148,614 
	Golden Properties LLC	10/5/17	      158,000.00 	10%	        18,483.84 	      176,483.84 	1.10	                 160,440 
	Golden Properties LLC	11/2/17	        91,000.00 	10%	          9,947.67 	      100,947.67 	1.10	                  91,771 
	Golden Properties LLC	11/16/17	      120,000.00 	10%	        12,657.53 	      132,657.53 	1.10	                 120,598 
	Golden Properties LLC	11/30/17	      130,000.00 	10%	        13,213.70 	      143,213.70 	1.10	                 130,194 
	Golden Properties LLC	12/14/17	      147,000.00 	10%	        14,377.81 	      161,377.81 	1.10	                 146,707 
	Golden Properties LLC	12/28/17	      128,000.00 	10%	        12,028.49 	      140,028.49 	1.10	                 127,299 
	Golden Properties LLC	1/11/18	      124,000.00 	10%	        11,176.99 	      135,176.99 	1.10	                 122,888 
	Golden Properties LLC	3/13/18	          5,000.00 	10%	             367.12 	          5,367.12 	1.10	                    4,879 
	Golden Properties LLC	9/11/18	        67,000.00 	10%	          1,578.63 	        68,578.63 	1.10	                  62,344 
	Totals	 	 $ 5,865,000.00 	 	 $ 1,118,346.62 	 $ 6,983,346.62 	 	              6,348,499 

 

     

     

    

 

NOTICE REGARDING INTENT TO CONVERT DEBT

 

To the Board of Directors of Abtech Holdings, Inc.:

 

Pursuant to the
terms of the debt conversion letter (the “Side Letter”) entered into with Abtech Holdings, Inc. (the
“Company”) on September 15, 2018, memorializing the terms of the conversion of loans I have made to the
Company into shares of the Company’s common stock, as amended by the letter from Glenn Rink dated November 15, 2018,
please be advised that I am providing written notice requesting the Company to convert $       ALL        (enter the
dollar amount to be converted or “ALL” if you intend to convert all of the debt and accrued interest listed in
the “Side Letter”) of debt owed to me by the Company into shares of the Company’s common stock at the
conversion price of $1.10 per share. Please effect this conversion as soon as it is practicable following receipt of this
notice and compliance with all corporate and securities laws.

 

 

	Sincerely,	 	 
	 	 	 
	Name of Debtholder:	Golden Properties Ltd	 
	 	 	 
	 	 	 
	By: 	/s/  Alex Lau	 
	 	 	 
	Date: 	6 Dec 2018Exhibit 10.2
	
	 	H O L D I N G S, I N C.

 

SENT VIA EMAIL

 

November 15, 2018

 

Wendy Neu

Tilly LLC

 

		Re:	Debt Conversion Terms

 

Dear Wendy:

 

In a previous letter,
I notified you that Abtech Holdings, Inc. (the “Company”) had granted to you the right to convert your outstanding
loans to the Company into shares of the Company’s common stock (the “Common Stock”) at a conversion price
of $0.00627 per share (the “Conversion Price”). This conversion right was conditioned upon the Company successfully
amending its Articles of Incorporation to increase the number of authorized shares to accommodate the conversion of your loans
and the conversion of debt by other debtholders who were offered the same conversion terms.

 

The purpose of this
letter is to advise you that on November 6, 2018, the Company completed a reverse stock split with a corresponding adjustment to
its number of authorized shares. These events activated your conversion right effective for 30 days beginning November 6, 2018
and ending December 6, 2018.

 

In addition, I am pleased
to inform you that on November 15, 2018, the Company’s Board of Director’s approved an adjustment to the Conversion
Price of $0.00627 per share ($1.254 per share post-split) to $1.10 per share (post-split). This revised conversion right will expire
on December 6, 2018.

 

Please refer to Schedule
1 attached hereto for an updated accounting of your loans to the Company including the calculation of interest due (collectively,
the “Debt”), which are eligible for the conversion right described in this letter.

 

If you intend to take
advantage of this conversion right, please complete the accompanying NOTICE REGARDING INTENT TO CONVERT DEBT and send it to me
on or before December 6, 2018. Upon receipt of your notice we will ask our stock transfer agent to issue a certificate to you for
the appropriate number of shares.

 

If you have any questions
regarding the conversion of your Debt into Common Stock, please contact me at grink@abtechindustries.com or Lane Castleton at lcastleton@abtechindustries.com.

 

	 	Yours truly,
	 	 	 
	 	Abtech Holdings, Inc.
	 	 	 
	 	 	 
	 	By: 	/s/ Glenn R. Rink
	 	Name:  	Glenn R. Rink
	 	Title:  	President, C.E.O.

 

 

	
        4110 N. Scottsdale Rd., Suite 235 Scottsdale AZ
        85251

        Phone 480.874.4000 Toll Free 1.800.545.8999
        Fax 480.970.1665 Web www.abtechindustries.com
	

     

     

    

 

Schedule 1

 

	LENDER	Loan Date	 Loan 

Amount 	Interest Rate	 Interest Accrued 	Total Amount Due 	Rate	Number of Shares of Common Stock to be Issued Upon Conversion
	 	 	 	 	 	 	 	 
	Tllly LLC	1/24/18	      139,000.00 	10%	     12,033.97 	      151,033.97 	        1.10 	             137,304 
	Tllly LLC	2/23/18	      131,000.00 	10%	     10,264.66 	      141,264.66 	        1.10 	             128,422 
	Tllly LLC	3/7/18	      131,000.00 	10%	       9,833.97 	      140,833.97 	        1.10 	             128,031 
	Tllly LLC	3/22/18	      121,000.00 	10%	       8,586.03 	      129,586.03 	        1.10 	             117,805 
	Tllly LLC	4/4/18	      107,000.00 	10%	       7,211.51 	      114,211.51 	        1.10 	             103,829 
	Tllly LLC	4/18/18	      121,000.00 	10%	       7,690.96 	      128,690.96 	        1.10 	             116,992 
	Tllly LLC	5/2/18	      118,000.00 	10%	       7,047.67 	      125,047.67 	        1.10 	             113,680 
	Tllly LLC	5/16/18	      118,000.00 	10%	       6,595.07 	      124,595.07 	        1.10 	             113,268 
	Tllly LLC	5/31/18	      118,000.00 	10%	       6,110.14 	      124,110.14 	        1.10 	             112,827 
	Tllly LLC	6/14/18	      118,000.00 	10%	       5,657.53 	      123,657.53 	        1.10 	             112,416 
	Tllly LLC	6/27/18	      118,000.00 	10%	       5,237.26 	      123,237.26 	        1.10 	             112,034 
	Tllly LLC	7/12/18	      118,000.00 	10%	       4,752.33 	      122,752.33 	        1.10 	             111,593 
	Tllly LLC	7/27/18	      118,000.00 	10%	       4,267.40 	      122,267.40 	        1.10 	             111,152 
	Tllly LLC	8/9/18	      118,000.00 	10%	       3,847.12 	      121,847.12 	        1.10 	             110,770 
	Tllly LLC	8/22/18	      118,000.00 	10%	       3,426.85 	      121,426.85 	        1.10 	             110,388 
	Tllly LLC	9/6/18	      123,000.00 	10%	       3,066.58 	      126,066.58 	        1.10 	             114,606 
	Tllly LLC	9/20/18	      118,000.00 	10%	       2,489.32 	      120,489.32 	        1.10 	             109,536 
	Tilly, LLC	10/4/18	      132,000.00 	10%	       2,278.36 	      134,278.36 	        1.10 	             122,071 
	Tilly, LLC	10/19/18	      118,000.00 	10%	       1,551.78 	      119,551.78 	        1.10 	             108,683 
	Tilly, LLC	11/1/18	      118,000.00 	10%	       1,131.51 	      119,131.51 	        1.10 	             108,301 
	Tllly LLC	11/15/18	        95,000.00 	10%	          546.58 	        95,546.58 	        1.10 	               86,861 
	Tllly LLC	11/29/18	        91,000.00 	10%	          174.52 	        91,174.52 	        1.10 	               82,886 
	 	 	 	 	 	 	 	 
	Totals	 	 $ 2,607,000.00 	 	 $113,801.12 	 $ 2,720,801.12 	 	          2,473,455 

 

 

     

     

    

 

Exhibit 10.2

 

NOTICE REGARDING INTENT TO CONVERT DEBT

 

To the Board of Directors of Abtech Holdings, Inc.:

 

Pursuant to the terms
of the debt conversion letter (the “Side Letter”) entered into with Abtech Holdings, Inc. (the “Company”)
on September 16, 2018, memorializing the terms of the conversion of loans I have made to the Company into shares of the Company’s
common stock, as amended by the letter from Glenn Rink dated November 15, 2018, please be advised that I am providing written notice
requesting the Company to convert all debt owed to Tilly, LLC by the Company amounting to $2,607,000 plus all the interest accrued
thereon, into shares of the Company’s common stock at the conversion price of $1.10 per share. Please effect this conversion
as soon as it is practicable following receipt of this notice and compliance with all corporate and securities laws.

 

 

 

	Sincerely,	 	 
	 	 	 
	Tilly, LLC	 	 
	 	 	 
	 	 	 
	By: 	/s/ Wendy Neu	 
	 	 	 
	Date: 	12/6/18

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