EXHIBIT 10.76
July 25, 1997
Xxx Xxxxxxxx
x/x XXX
X.X. Xxx 000
Xxxxxxxxx Xxxxx, XX 00000
Dear Xxx,
This letter sets forth the terms of Trimark Holdings' agreement to purchase your
options to acquire 20,000 shares of Trimark Holdings stock (out of your
remaining options to purchase 52,123 shares) pursuant to the Stock Purchase and
Option Agreement dated September 1, 1989. The aggregate purchase price shall be
$58,200.00 Trimark Holdings confirms that the expiration date for the remaining
(32,123) is September 1, 1998.
In exchange, you agree not to exercise or sell the remaining options for four
months from the date of this agreement. Furthermore you agree to perform
consulting services for Trimark Holdings at the rate of $40.00 per hour, subject
to your availability. Such consulting services would be in the area of helping
the company with cost reduction, etc.
Please sign and date below to indicate your acceptance of this agreement.
Sincerely, Agreed To and Accepted By
------------------------------
Xxxx Xxxx Xxx Xxxxxxxx Date
MA/jg
