Notice of Exercise of Option to Purchase under Lease Agreement between Bolt Technology Corporation and Albert H. Gerrans, Jr.
Bolt Technology Corporation has formally notified Albert H. Gerrans, Jr. of its decision to exercise its option to purchase property as provided in their April 20, 1999 Lease Agreement. The letter serves as official notice and instructs legal counsel to prepare the necessary documents to complete the purchase. This action is in accordance with the terms previously agreed upon by both parties.
EXHIBIT 10.9
Bolt Technology Corporation
Four Duke Place
Norwalk, CT 06854
February 11, 2005
Mr. Albert H. Gerrans, Jr.
Post Office Box 694
Hempstead, Texas 77445
Dear Al:
As we have discussed, Bolt Technology Corporation has decided to exercise the Option to Purchase as set forth in Paragraph 16.1 of the Lease Agreement dated April 20, 1999, by and between Albert H. Gerrans and Patricia J. Gerrans and Bolt Technology Corporation.
I am forwarding a copy of this letter to Al Weycer and Barbara Young so they can proceed to prepare the required documentation for the purchase.
Sincerely yours,
/s/ Raymond M. Soto
Raymond M. Soto, President
Bolt Technology Corporation
| CC: | Albert S. Weycer, Esq. |
Barbara A. Young, Esq.
