Accounts Receivable Agreement

Account Control Agreement

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This Account Control Agreement involves

HEI, Inc.

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Title: Accounts Receivable Agreement
Date: 1/13/2005
Industry: Semiconductors

Accounts Receivable Agreement, Parties: hei inc.

Exhibit 10

January 12, 2005

Mr. Mack Traynor, President & CEO
HEI, Inc.
1495 Steiger Lake Lane
Victoria, MN 55386

Dear Mack:

Thank you for the on-going opportunity to provide a revolving credit facility for HEI, Inc. This letter serves to confirm the continuing availability of the credit facility provided to HEI, Inc. by Beacon Bank pursuant to the Accounts Receivable Agreement dated May 29, 2003, on the following terms and conditions:


Maximum Client Account Limit:		$5,000,000

Discount:		Immediate discount of .50% and a daily discount of 1/25 of 1%

Part Payment:		80% of invoice amount, subject to the completion of appropriate verification due diligence

Terms of Contract:		January 1, 2006

Account Relationship:		That the primary deposit relationship for HEI, Inc. be maintained with Beacon Bank while this credit facility is in place

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