REXX
ENVIRONMENTAL CORPORATION
June 28, 2000
Xxxx X. Xxxxxxx
Xxxxx X. Xxxxxx
Xxxxxxx Contracting, Inc.
0000 Xxxxxxx Xxxxxx, Xxxxx 000
Xxx Xxxxx, XX 00000
Re: Stock Purchase Agreement dated June 10, 1999
and Letter Agreements dated November 29, 1999,
January 6, 2000 and April 27, 2000
Dear Xxxx and Xxxxx:
As we have discussed, it will not be possible to mail proxy materials to our
shareholders for the planned transactions until later on. Since the shareholder
meeting cannot be held by June 30, 2000, all references to February 29, 2000 and
June 30, 2000 in the Stock Purchase Agreement as amended by the Letter
Agreements of November 29, 1999 and January 6, 2000 and April 27, 2000 need to
be changed to a reasonable later date. I expect it reasonable to assume that the
shareholder meeting will be held before August 31, 2000.
Accordingly, as we have discussed, please confirm that (i) all references to
November 30, 1999 and/or February 29, 2000 and/or April 30, 2000 and/or June 30,
2000 in the Stock Purchase Agreement and the Letter Agreements are to be
considered changed to references to August 31, 2000, and (ii) in all other
respects the Stock Purchase Agreement and the Letter Agreements remain unchanged
and unaffected by the delay in the shareholder meeting.
Very truly yours,
/s/ Xxxxxx X. Xxxx
--------------------------
Xxxxxx X. Xxxx
Chairman of the Board
CONFIRMED:
/s/ Xxxx X. Xxxxxxx
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Xxxx X. Xxxxxxx
/s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx
000 Xxxx Xxxxxx x Xxx Xxxx, Xxx Xxxx 00000 o (000) 000-0000
Fax: (000) 000-0000
