E X H I B I T 10.30
Letter Agreement Re: Modification to Letter of Intent
Re: Acquisition of General Vision Services, Inc.
-----------------------------------------------------
ACTION INDUSTRIES, INC.
March 28, 1997
General Vision Services, Inc.
000 Xxxx 00xx Xxxxxx
Xxx Xxxx, XX 00000
Attention: Xxxxxxx X. Xxxxxxxxx, Chairman
Re: Modification to Letter of Intent
--------------------------------
Dear Xx. Xxxxxxxxx:
Reference is made to the Letter of Intent dated February 27, 1997
between Action Industries, Inc. and General Vision Services,
Inc., as modified by that certain side letter agreement between
the parties dated February 27, 1997 (collectively, the "Letter of
Intent"). The purpose of this letter is to delete from the
Letter of Intent the retention by Action of its listing with the
American Stock Exchange as a closing condition and as a condition
to the parties' obligation to negotiate in good faith to reach a
binding agreement upon substantially the terms set forth in
Paragraphs 1 through 4 of the Letter of Intent.
If you are in agreement with the foregoing, please execute the
enclosed copy of this letter and return it to the undersigned at
your earliest convenience.
ACTION INDUSTRIES, INC.
By: /s/ T. Xxxxxx Xxxxxx
-------------------------------
T. Xxxxxx Xxxxxx, President
ACCEPTED AND AGREED TO:
GENERAL VISION SERVICES, INC.
By: /s/ Xxxxxxx X. Xxxxxxxxx
-------------------------------
Title: CEO
-------------------------------
