EXHIBIT 10.2
April 28, 0000
Xxxxxxx X. Xxxxxx, Xxx.
Individual Investor Group, Inc. VIA UPS OVERNIGHT
000 Xxxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, XX 00000
Dear Xx. Xxxxxx:
We refer to the separate Stock Purchase Agreement dated as of November 30, 1998
between Individual Investor Group, Inc. and each of Great American Insurance
Company and Great American Life Insurance Company (the " Agreements").
As we have discussed, the final documents inadvertently omitted a provision
relating to a one-year holdback on conversion of the preferred stock purchased
thereunder, which the parties believed would be included. To correct that
drafting error, which was only recently discovered, we would like to amend the
Agreements as of November 30, 1998, to provide that the Preferred Stock (as
defined in the Agreements) held by Great American Insurance Company and Great
American Life Insurance Company may not be converted into Individual Investor
Group Inc. common stock until December 2, 1999 (one year following the date of
issuance), notwithstanding anything to the contrary in the Agreements.
Please signify your acceptance to the terms hereof by executing the enclosed
copy of this letter. Please feel free to call Xxxx X. Xxxxx with any questions
concerning this matter.
Very truly yours,
GREAT AMERICAN INSURANCE COMAPANY
By: /s/ Xxxxxx X. Xxxxx
Xxxxxx X. Xxxxx, Assistant Vice President
GREAT AMERICAN LIFE INSURANCE COMAPANY
By: /s/ Xxxx X. Xxxxxxxx
Xxxx X. Xxxxxxxx, Senior Vice President
Agreed to and Accepted:
INDIVIDUAL INVESTOR GROUP, INC.
By: /s/ Xxxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxxx, Vice President
