Exhibit 10.2
May 7, 2004
Xx. Xxxxx X. Xxxxxxx
Chairman and CEO
The St. Xxx Company
000 Xxxxxxxxx Xxxxxx
Xxxxx 000
Xxxxxxxxxxxx, XX 00000
Dear Xxxxx:
The Xxxxxx X. xxXxxx Testamentary Trust and The Nemours Foundation hereby renew
the Agreement, originally dated November 6, 2003, relating to the repurchase by
The St. Xxx Company of shares of its common stock (the "Agreement"), on the term
described herein. The terms of the Agreement shall remain in full force and
effect, with the following modifications:
- The term "Share Multiplier" shall mean 0.31.
- The term "Floor Price" shall mean $37.00.
- The term of this renewal shall be from May 8, 2004 through August 6, 2004;
provided that August 12, 2004 shall be a Closing Date for a Sale based on
the Prior Week's Purchased Shares, if any.
Capitalized terms used and not otherwise defined herein have the assigned
thereto in the Agreement.
If this is agreeable to St. Xxx, please acknowledge on the counterpart copy
and return it to me for our records.
Sincerely,
/s/ X. X. Xxxxxxxx
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X. X. Xxxxxxxx, Chairman,
on behalf of The Xxxxxx X. xxXxxx
Testamentary Trust and The Nemours
Accepted on behalf of The St. Xxx Company
/s/ Xxxxx X. Xxxxxxx
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Xxxxx X. Xxxxxxx
Chariman and CEO
