1
EXHIBIT 10
June 30, 2001
CONFIDENTIAL
Xx. Xxxxxx X. Xxxxxx
00 Xxxx 0xx Xxxxxx
Xxxxxxxxxxxx, Xxxxxxx 00000
Xx. Xxxx Xxxxxx
0000 Xxxxx Xxxx
Xxxxxx, Xxxxxxx 00000
Gentlemen:
This amendment to our Letter agreement, dated March 5, 2001 (the "Letter
Agreement"; capitalized terms not otherwise defined herein have the meanings
herein as therein defined), confirms our understanding, and when signed, our
binding agreement regarding our agreement that (a) the deadline for the Closing
contained in the Letter Agreement shall be extended from June 30, 2001 to July
31, 2001 and (b) the Purchasers shall pay the Company a non-refundable fee of
$100,000.00 (the "Extension Fee") in consideration of the foregoing extension.
The Company shall have the right to use the Extension Fee for any purposes it
believes to be desirable. This amendment shall become effective upon the
Company's receipt of the fee referenced in clause (b) of the first sentence of
this paragraph and the parties agree and acknowledge that the Letter Agreement
may be terminated by any party prior thereto.
The parties agree and acknowledge that, except as amended hereby, the
Letter Agreement shall remain in full force and effect in accordance with its
terms. Without limiting the generality of the foregoing, the parties agree and
acknowledge that the Letter Agreement may be terminated by any party if the
Closing has not occurred by July 31, 2001 (other than the portions thereof which
shall survive such termination in accordance with Section 11(c) of the Letter
Agreement).
If the foregoing is acceptable to you, please so indicate by executing a
counterpart of this Letter Agreement below and returning it to the Company.
Sincerely,
J2 COMMUNICATIONS
By: /s/ Xxxxx X. Xxxxxxx
---------------------------
Name:
Title:
THE FOREGOING IS ACCEPTED
AND AGREED TO AS OF THE FIRST
DATE SET FORTH ABOVE:
/s/ Xxxxx X. Xxxxxxx
-------------------------
XXXXX X. XXXXXXX
/s/ Xxxxxx X. Xxxxxx
-------------------------
XXXXXX X. XXXXXX
/s/ Xxxx Xxxxxx
-------------------------
XXXX XXXXXX
