Notice of Extension of Amended and Restated Exclusive Supply Agreement between Charles & Colvard, Ltd. and Cree, Inc.
Charles & Colvard, Ltd. has formally notified Cree, Inc. that it is exercising its option to extend their Amended and Restated Exclusive Supply Agreement for an additional 10 years. The extension will begin on July 15, 2005, and end on July 14, 2015. Both companies' presidents have signed the notice to confirm the extension. This agreement ensures the continued exclusive supply relationship between the two parties for the specified period.
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 | |
| Robert S. Thomas | ||
| President & CEO | ||
| CREE, INC. | ||
| By: | /s/ Charles M. Swoboda | |
| Charles M. Swoboda | ||
| President & CEO | ||
