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EXHIBIT 10.5
[AMCOR CAPITAL CORPORATION LETTERHEAD]
March 6, 1997
Xx. Xxxxx Xxxxxxxx
AMCOR Capital Corporation
0000 Xxxxxxxxxx Xxxxxx
Xxxxxxxxx, XX 00000
Re: Stock Option Agreement -- Change Pursuant to Stock Split
Dear Xxxxx:
As approved at the Annual Meeting of Shareholders on February 21, 1997, and
concurrently approved by the Board of Directors, the number of shares intended
by the 1994 AMCOR Stock Option Plan will be reverse split 1 for 2. Pursuant to
the provisions of the Plan, the total number of shares in the Plan will now be
250,000 and the number of shares granted to you under your option agreement are
50,000 at an option price of $1.30. Also note that the Company's stock will now
be trading on the OTC Bulletin Board under the new Symbol "ACAP."
Please acknowledge your agreement by signing this letter and returning it in the
enclosed envelope.
If you have any further questions please feel free to call.
Thank you for your assistance with this matter.
Sincerely,
/s/ XXXXX X. XXXXXXX
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Xxxxx X. Xxxxxxx
Corporate Secretary
Optionee signature of agreement: /s/ XXXXX XXXXXXXX
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Xxxxx Xxxxxxxx
Date: 3-11, 1997
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