August 21, 1996
Mr. Xxxx Xxxxxxx
Xxxxxxx'x Radio & Wild's
Computer Services, Inc.
000 X. Xxxx Xxxxxx
X.X. Xxx 0000
Xxxx Xxxxxxx, XX 00000
Dear Xxxx:
Pursuant to the Stock Purchase Agreement dated January 11, 1996, Article 2.1,
the purchase price of the stock (of Peacock Radio and Wilds Computer Service)
has been amended to 100,000 shares of 21ST CENTURY WIRELESS GROUP, INC. (the
Company) stock to be distributed as per Exhibit 1. If the opening stock price of
the Company's shares, on the first day of public trading is less than $8.00 per
share, the Company agrees to issue the number of additional shares per the
following formula:
(A) Price adjustment factor = Per share price ($8.00 - opening stock
price)/opening stock price
(B) Additional shares = price adjustment factor X 100,000 shares
EXAMPLE
(A) Price adjustment factor = Per share price ($8.00 - $6.00)/$6.00 = .333
(B) Additional shares = .333 X 100,000 shares = 33,333
Subsequent to the issuance of the stock, the Company agrees to purchase @ $8.00
a share the stock as indicated as follows:
CERTIFICATE NUMBER NAME NUMBER OF SHARES
1675 Xxxx X. Xxxxxxx 1500
1677 Xxxxxx X. Wild 2734
1679 Xxxxx X. Xxxxxx 449
1680 Xxxxxxx X. Xxxxxxx 156
In addition, 21ST CENTURY WIRELESS GROUP, INC. will issue 8,750 shares to
Xxxxxxx and Xxxxx Xxx for the purchase of the equipment and FCC licenses that
they are conveying to the Company.
In the event of future stock splits, the prices per share indicated above will
be adjusted to reflect the multiplier specified in the splits.
If you are in agreement with the above information, please sign below and return
the original copy to my attention.
Thank you.
Sincerely,
21ST CENTURY WIRELESS GROUP, INC.
/s/ Xxxxxxx X. Xxxxx
Xxxxxxx X. Xxxxx
Vice President, Chief Financial Officer
THE ABOVE IS MUTUALLY AGREED UPON BY:
/s/ Xxxx X. Xxxxxxx /s/ Xxxxx X. Xxxxxxxxx
--------------------------------------- -----------------------------------
Xxxx X. Xxxxxxx Xxxxx X. Xxxxxxxxx
Representing all of the shareholders of 21ST CENTURY WIRELESS GROUP, INC.
PEACOCK'S RADIO & WILD'S COMPUTER
Dated: 21 Aug. 1996 Dated: August 21, 1996
-------------------------------- ----------------------------
Attachment - Peacock Stock August 21, 1996
Following are names and shares of stock associated with the close of escrow on
the Peacock's Radio and Wild's Computer operations:
NAME '144' STOCK
---- -----------
Xxxx X. Xxxxxxx 42,251 shares
1881 SFC 536
Heth, AR 72346 (a second certificate) 1,500 shares
Xxxxxx X. Wild 41,017 shares
X.X. Xxx 0000
Xxxx Xxxxxxx, XX 00000 (a second certificate) 2,734 shares
Xxxxx X. Xxxxxx 6,738 shares
000 Xxxxxxxxxx Xxxxx
Xxxx Xxxxxxx, XX 00000 (a second certificate) 449 shares
Xxxxxxx X. Xxxxxxx 2,344 shares
000 Xxxxx 00xx Xxxxxx
Xxxx Xxxxxxx, XX 00000 (a second certificate) 156 shares
Xxxxxx X. Xxxxxxx 937 shares
000 Xxxxxxx Xxxx
Xxxx Xxxxxxx, XX 00000
Xxxxxx X. Wild 937 shares
X.X. Xxx 0000
Xxxx Xxxxxxx, XX 00000
Xxxxxxxx X. Short 937 shares
000 Xxxxx 0xx Xxxxxx
Xxxx Xxxxxxx, XX 00000
TOTAL ALL SHARES... 100,000 shares
