XXXXXXXXXXXXXX.XXX INC.
0000 Xxxxxxx Xxxxxxxx
Xxxxxxx, Xxx Xxxx 00000
March 17, 2000
Mr. Xxxxxxxx Xxxxxxxxx
Chief Executive Officer
Individual Investor Group, Inc.
000 Xxxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, XX 00000
Re: Agreement, Dated as of June 2, 1999 by and among Xxxxxx Holding Corp.
("Xxxxxx"), Individual Investor Group, Inc. ("Indi") and
Xxxxxxxxxxxxxx.xxx Inc. ("Venturehighway") the "Agreement")
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Dear Xxxxxxxx:
As you are aware, if Venturehighway, either directly or through a
subsidiary, did not become registered with the Securities and Exchange
Commission ("SEC") as a broker-dealer and become a member of the National
Association of Securities Dealers, Inc.("NASD") by December 31, 1999, Indi had
the right, exercisable by written notice to Venturehighway on or prior to
January 31, 2000, to terminate the Agreement. Based upon the fact that Xxxxxx
entered into a contract to acquire Princeton Securities Corporation
("Princeton") in October 1999 (which contract is being assigned to
Venturehighway at cost immediately prior to the closing), and as a result of our
communications to you that regulatory approval of the NASD has been pending,
Indi did not exercise its rights to terminate the contract. A closing of the
Princeton acquisition by Venturehighway is presently scheduled for Monday, April
3, 2000. This letter is intended to memorialize our agreement that
Venturehighway has until May 1, 2000 to acquire Princeton with Indi waiving its
right to terminate the Agreement pending such acquisition, provided that, if
Venturehighway does not acquire Princeton by May 1, 2000, Indi shall have the
right to terminate the Agreement thereafter at any time up through and including
May 31, 2000.
Mr. Xxxxxxxx Xxxxxxxxx
March 17, 2000
Page 2
Kindly confirm your agreement to the foregoing by countersigning this
letter and returning it to me.
Xxxxxxxxxxxxxx.xxx Inc.
/s/ Xxxxx X. Xxxxxxx
By:________________________
Xxxxx X. Xxxxxxx, Chairman
and Chief Executive Officer
Agreed to and Accepted:
Xxxxxx Holding Corp.
/s/ Xxxxxxx X. Xxxxxxxx
By:__________________________
Xxxxxxx X. Xxxxxxxx,
President
Individual Investor Group, Inc.
/s/ Xxxxxxxx Xxxxxxxxx
By:___________________________
