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EXHIBIT 10(a)
[MFC MERCHANT BANK S.A. LETTERHEAD]
July 6, 1998
Mr. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Director of Research
Eye Technology, Inc.
▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇▇, ▇▇
▇▇▇▇▇
Dear ▇▇. ▇▇▇▇▇▇▇▇,
This letter will serve to outline the amendments to the Receivable and Inventory
Financing Agreement that will be assigned from NationsBanc Commercial
Corporation dated July 17, 1996.
Eye Technology, Inc. agrees that no more credit will be granted under the
Financing Agreement.
We will not call the loan prior to January 1, 1999, unless Eye Technology, Inc.
is in further default of interest payment, Bankruptcy, insolvency or
significant deterioration of assets greater than 50% as of March 31.
Eye Technology, Inc. retains the right to prepay the loan prior to maturity
without penalty.
MFC Merchant Bank S.A. reserves the right of offset in the case of further
default.
Yours truly, Accepted:
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
