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Exhibit 99.7
MTD PRODUCTS INC
0000 XXXXXXX XXXX
XXXXXXXXX, XXXX 00000
[Letterhead]
August 12, 1997
Xx. Xxxxx X. Xxxxxxx
Xxxxxx Industries, Inc.
000 Xxxxx Xxxxxx
P.O. Box 2037
Mansfield, Ohio 44905
Re: Termination of Letter Agreement
-------------------------------
Dear Xxx:
MTD Products Inc ("MTD") hereby terminates the letter
agreement that you executed as of July 10, 1997 (the "Letter"), which set forth
that certain understanding regarding the proposal by MTD to purchase all the
outstanding shares of Common Stock of Shiloh Industries, Inc. ("Shiloh") not
owned by MTD.
All of the terms and conditions set forth in the Letter are
hereby terminated and such termination shall be effective immediately upon your
acceptance and execution hereof. In addition, upon acceptance and execution of
this letter agreement, all of your rights and obligations pursuant to the Letter
shall terminate.
In the event these terms and conditions are acceptable to you,
please sign the acknowledgment below and return a copy to my attention at your
earliest convenience.
Very truly yours,
MTD PRODUCTS INC
By: /s/ Xxxxxx X. Xxxxxx
-----------------------------
Xxxxxx X. Xxxxxx
Chief Financial Officer
Acknowledgment and Acceptance
By: /s/ Xxxxx X. Xxxxxxx
--------------------------
Xxxxx X. Xxxxxxx
