EXHIBIT 2.08(b)
October 10, 2002
Spire Capital Partners, L.P.
Spire Investment, L.L.C.
Xxxxxx-Xxxxxx Media Partners, L.P.
Other former stockholders of iNNERHOST, Inc.
c/o Spire Capital Management
00 Xxxxxxxxxxx Xxxxx, Xxxxx 0000
Xxx Xxxx, XX 00000
Attention: Xxxxxxx X. Xxxxxxxxx
Re: Agreement and Plan of Merger dated as of August 30, 2002 by and among
Interland, Inc., PantherCub Acquisition Corporation, iNNERHOST, Inc. (the
"Company") and the former stockholders of the Company (collectively, the
"Stockholders")
Dear Stockholders:
Capitalized terms used in this letter that are not otherwise defined
shall have the meaning ascribed to such terms in the Merger Agreement.
Based on the performance of the Company's business during the first two
months of the Calculation Period, Interland hereby agrees to cause all of the
Purchase Price to be deemed earned as of the date hereof, without forfeiture, so
that the Investor Stockholders shall be entitled to retain all of the Forfeiture
Shares and the Other Stockholders shall be entitled to retain all of the
Forfeiture Cash. Interland shall cause the Stockholders' Representative to
distribute the Forfeiture Cash to the Other Stockholders and the Forfeiture
Shares to the Investor Stockholders on or before November 30, 2002 in accordance
with the terms of the Merger Agreement. Accordingly, Section 2.7(b)(ii), Section
2.7(d), Section 2.7(f) and Sections 6.1 and 6.4 of the Merger Agreement are
hereby terminated, the proviso in the last sentence of Section 2.7(b)(i) is
hereby amended consistent with the previous sentence of this letter, and the
term "Forfeiture Date," as used in Section 2.7(c)(iii)(B) shall mean the date
hereof.
Except as amended hereby, the Merger Agreement remains in full force
and effect.
Please acknowledge your acceptance and agreement with the terms of this
letter by executing in the space provided below. A facsimile of your signatures
on this letter shall have
the same legal effect as an original thereof, and multiple counterparts of your
acknowledgements to this letter shall be deemed to constitute one original
agreement.
Very truly yours,
INTERLAND, INC.
By: /s/ Xxxxx X. Xxxxxxx
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Name: Xxxxx X. Xxxxxxx
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Title: General Counsel V.P. and
Corporate Secretary
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iNNERHOST, INC.
By: /s/ Xxxxx X. Xxxxxxx
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Name: Xxxxx X. Xxxxxxx
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Title: President
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Acknowledged and agreed to
this ____ day of October, 2002:
SPIRE CAPITAL PARTNERS, L.P.
By: Spire Capital Partners, L.L.C.,
its General Partner
By: /s/ Xxxxxxx X. Xxxxxxxxx
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Name: Xxxxxxx X. Xxxxxxxxx
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Title: Managing Member
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SPIRE INVESTMENT, L.L.C.
By: /s/ Xxxxxxx X. Xxxxxxxxx
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Name: Xxxxxxx X. Xxxxxxxxx
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Title: Managing Member
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XXXXXX-XXXXXX MEDIA
PARTNERS, L.P.
By: Xxxxxx-Xxxxxx Media, L.L.C.,
Its General Partner
By: /s/ Xxxxxxx X. Xxxxxxxxx
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Name: Xxxxxxx X. Xxxxxxxxx
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Title: Managing Member
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/s/ Xxxx Xxxxxxx /s/ Xxxxxxx Xxxxxxx
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