Exhibit 99.4
July 13, 2001
Xxxx X. Xxxx
000 Xxxxxxxxxxx Xxxx
Xxxxxxxxx, Xxx Xxxx 00000
Dear Xxxx:
This letter will confirm certain agreements between you and LVMH Moet
Xxxxxxxx Xxxxx Vuitton Inc. ("LVMH") regarding the anticipated termination of
your employment with Xxxxx Xxxxx International Inc. (the "Company") as Chief
Executive Office and Director and your continuing employment with the Company in
your capacity as an advisor to the Company's Board of Directors in connection
with certain transition matters, all effective as of July 13, 2001 (the
"Resignation").
In connection with the Resignation, in the event the merger (the
"Merger") contemplated under the Agreement and Plan of Merger dated as of March
31, 2001, among the Company, LVMH, and DKI Acquisition, Inc. (the "Merger
Agreement") is not consummated by November 15, 2001, LVMH hereby agrees to
purchase for cash, on November 15, 2001, 548,503 shares of common stock of DKI
owned by you (the "Shares"), free and clear of any and all claims, liens and
charges for a purchase price of $4.875 per Share. In the event the Merger is
consummated pursuant to the Merger Agreement after November 15, 2001, you shall
be entitled to receive from LVMH or one or more of its affiliates, within five
days of such consummation, an amount per Share equal to the difference between
(i) the Merger Consideration (as defined in the Merger Agreement) paid per share
in connection with the Merger, less (ii) $4.875. The obligation of LVMH to
purchase the Shares pursuant to this letter agreement shall be unconditional and
not dependent to any extent on the successful consummation of the Merger before
November 15, 2001.
This letter agreement may be executed in any number of identical
counterparts, any of which may contain the signatures of less than all parties,
and all of which together shall constitute a single agreement.
LVMH Moet Xxxxxxxx Xxxxx Vuitton Inc.
By: /s/ Xxxxx X. Xxxxxx
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Title: Senior Vice President
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Consented to as of the date first above
written by:
/s/ Xxxx X. Xxxx
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Xxxx X. Xxxx
cc: Xxxxxx X. Xxxxxxx, Esq.
Xxxxx X. Xxxxxx, Esq.
