1
Exhibit 10.22
November 20, 1997
Xx. Xxxxxxx X. Xxxxxxxxxx
000 Xxxxx 00 Xxxx
Xxxxx X-00
Xxxxxxxxx, XX 00000
Re: Stock Purchase Agreement dated November 20, 1996, as amended on April
7, 1997, among DynamicWeb Enterprises, Inc. (the "Company"), Software
Associates, Inc. and Xxxxxxx X. Xxxxxxxxxx
Dear Xxx:
As you are aware, under Section 3 of the above-referenced Stock Purchase
Agreement (the "Agreement"), you may receive additional shares of the common
stock, $.0001 par value per share (the "Common Stock"), of the Company,
depending on the trading price of the Common Stock immediately prior to January
30, 1999.
As you are further aware, the Agreement was amended pursuant to the letter
agreement dated April 7, 1997, between the Company and you (the "Amendment").
The purpose of this letter is to further amend the Agreement to provide
that the effective date for the issuance of such additional shares of Common
Stock be delayed by one (1) year. Such a delay will be mutually beneficial to
the Company and you, as it will facilitate the Company's planned public offering
of shares of the Common Stock. Therefore, the Company and you hereby agree as
follows:
1. The Agreement is hereby modified and amended to change the date "January
30, 1999" set forth in Section 3 of the Agreement and Section 1 of the
Amendment, to "January 30, 2000."
2. The Agreement, as amended by the Amendment and this letter amendment, is
hereby ratified and affirmed.
2
Xx. Xxxxxxx X. Xxxxxxxxxx
November 20, 1997
Page 2
Please indicate your acceptance and agreement with the terms of this
letter below, and return one copy to me. Thank you for your assistance in this
matter.
Very truly yours,
DYNAMICWEB ENTERPRISES, INC.
By /s/ Xxxxx X. Vaneohanos, Jr.
--------------------------------
Xxxxx X. Vaneohanos, Jr.,
Chairman and Chief Executive
Officer
AGREED TO AND ACCEPTED,
intending to be legally
bound hereby, as of this
19th day of November, 1997.
/s/ Xxxxxxx X. Xxxxxxxxxx
------------------------------
Xxxxxxx X. Xxxxxxxxxx
