Extension Letter for May 11, 2010 Promissory Note between Ecology Coatings and John M. Salpietra

Summary

This letter from Ecology Coatings, signed by CEO Robert G. Crockett, notifies John M. Salpietra that the repayment date for a promissory note originally due on November 4, 2010, is being extended by 30 days to December 4, 2010. The extension is granted due to delays in securing new investment. As part of the extension, Ecology Coatings will issue Mr. Salpietra an option to purchase 15,000 shares of its common stock at the closing price on November 4, 2010.

EX-10.86 2 extensionletter.htm OCTOBER 15, 2010 LETTER EXTENDING DUE DATE extensionletter.htm

October 15, 2010

John M. Salpietra

2693 Heights View Court

Rochester Hills, MI 48178

Re: May 11, 2010 Promissory Note

Dear Mr. Salpietra:

As you know, repayment of our Promissory Note is due November 4, 2010. While we initially expected to pay off the Note with funds raised from new investors, we are experiencing difficulties in meeting the conditions necessary to realize that investment. More specifically, we are finding that forgiveness/reduction of our debt and improvement to our capital structure are very difficult tasks.

At present, it appears unlikely that we will be able to secure new investment by the due date of the Note. As a result, pursuant to Section 3 of the Note, Ecology Coatings would like to extend the Maturity Date another 30 days – to December 4, 2010. As provided for in the Note, we will issue you an option to purchase fifteen thousand (15,000) shares of our common stock with a strike price of the closing price of our stock on November 4, 2010.

Very truly yours,

Robert G. Crockett

CEO

24663 Mound Road, Warren MI 48091

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