Exhibit 10.1
THE ST. XXXXXXXX SEAWAY CORPORATION
Xxxxx XX, Suite P
0000 X. Xxxxx Xxxxxx
Xxxxx Xxxxx, Xxxxxxx 00000
April 16, 0000
Xxxxxxx Xxxxxxxxx & Company, Inc.
00 Xxxx Xxxxxx Xxxx
Xxxxxx, XX 00000
Attention: Xxxxxxx Xxxxxxxxx
Re: Stock and Warrant Purchase Agreement (the "Agreement"), dated as
of the 10th day of January, 2007, by and between The St. Xxxxxxxx
Seaway Corporation (the "Company") and Xxxxxxx Xxxxxxxxx &
Company, Inc. ("BZ&CO.")
Dear Xx. Xxxxxxxxx:
This letter will confirm that we have agreed upon an extension of the
date by which the Company must obtain Shareholder Approval (as defined in the
Agreement), under Section 5.6(c) of the Agreement, to no later than August 31,
2007.
Notwithstanding the foregoing, the balance of the Agreement shall remain
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binding on the Company and BZ&Co. and in full force and effect:
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Please indicate your acceptance of the foregoing by signing the
enclosed copy of this letter and returning it to the attention of the
undersigned.
Very truly yours,
THE ST. XXXXXXXX SEAWAY CORPORATION
By: /s/ Xxxx X. Xxxxxxxxxx
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Name: Xxxx X. Xxxxxxxxxx
Title: Chairman of the Board
Hereunto Duly Authorized
ACCEPTED AND AGREED:
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XXXXXXX XXXXXXXXX & COMPANY, INC.
By: /s/ Xxxxxxx Xxxxxxxxx
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Name: Xxxxxxx Xxxxxxxxx
Title: Chief Executive Officer
Hereunto Duly Authorized
