EPL Technologies, Inc.
Two International Xxxxx, Xxxxx 000
Xxxxxxxxxxxx, Xxxxxxxxxxxx
00000-1507
As of December 3, 1999
Xxxxxx Xxxxxxxx
c/o G.H.M. Inc.,
00 Xxxxxxx Xxxxx
Xxx Xxxx, XX 00000
G.H.M. Inc.,
00 Xxxxxxx Xxxxx
Xxx Xxxx, XX 00000
Attention: Xxxxxx Xxxxxxxx
Re: Letter of Understanding among
G.H.M., Xxxxxx Xxxxxxxx, and EPL Technologies, Inc.
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Notwithstanding any other provision of those certain
Subscription Agreements, dated as of December 3, 1999, between Xxxxxx Xxxxxxxx
and EPL Technologies, Inc., and between G.H.M. Inc., and EPL Technologies, Inc.,
G.H.M.'s and Xx. Xxxxxxxx'x respective obligations to consummate the
transactions contemplated thereby are subject to EPL Technologies' satisfaction
of those additional conditions which the parties have discussed. It is our
anticipation that such conditions shall be satisfied on December 9, 1999. Per
our understanding, the funds transferred to us pursuant to the Subscription
Agreements will be held by us pending satisfaction of such conditions.
Your countersignature below will indicate your acknowledgment
of the foregoing.
Sincerely,
EPL Technologies, Inc.
By: /s/ Xxxx X. Xxxxxx
--------------------------
Name: Xxxx X. Xxxxxx
Title: President and CEO
/s/ Xxxxxx Xxxxxxxx
-----------------------
Xxxxxx Xxxxxxxx
G.H.M. Inc.
By: /s/ Xxxxxx Xxxxxxxx
--------------------
Xxxxxx Xxxxxxxx
President
