Exhibit 10.1
November 28, 2010
Dr. Tom Furness
Dr. Brian Schowengerdt
RatLab LLC
5607 40th Avenue NE
Seattle, WA 98105
Re: Extension of the Letter of Intent
Dear Tom and Brian:
Pursuant to Paragraph 11 the Letter of Intent between our companies executed under date of October 1, 2010, the parties thereto to mutually agree to a 60 day extension of the expiration date of the Letter of Intent from November 30, 2010 to January 30, 2011.
The parties shall endeavor to execute definitive agreements and close the contemplated transaction during that time. The Letter of Intent shall expire at that time unless extended or modified in writing by the parties hereto.
If you accept and agree to this extension of the Letter of Intent, please sign and date a copy of this letter and return it to the undersigned at 500 Union Street, Suite 406, Seattle, WA 98101, facsimile number (206) 903 1352.
Sincerely yours,
Visualant, Inc.
/s/ Ron Erickson
Ron Erickson
Its: Chairman
AGREED AND ACCEPTED:
RatLab LLC
/s/ Tom Furness
By: Tom Furness
Manager
Date: November 28, 2010
/s/ Brian Schowengerdt
By: Brian Schowengerdt
Manager
Date: November 28, 2010
500 Union Street Suite 406 Seattle, WA 98101