September 2, 1998
CONDUCTUS, INC.
000 Xxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxxxxxxxx 00000
Attn: Xx. Xxxxxxx X. Xxxxxxx, President and Chief Executive Officer
Re: Conductus, Inc. Series B Private Placement
Dear Xx. Xxxxxxx:
In connection with that certain Letter Agreement dated March 24, 1998 by
and among Conductus, Inc. (the "Company") and Sutro & Co. Incorporated (the
"Agreement"), we hereby agree to waive the payment by the Company to us of
one-half of any cash placement fee owed to us pursuant to Paragraph 3(a) that
arises out of the sale of the Securities (as such term is defined in the
Agreement) to investors identified to the Company by Xxxxxxxxx and PMG.
Very truly yours,
Sutro & Co. Incorporated
By: /s/ Xxxx Xxxxxx
---------------------------------
Xxxx Xxxxxx
Managing Director
Accepted and Agreed to
as of the date written above:
CONDUCTUS, INC.
By: /s/ Xxxxxxx X. Xxxxxxx
-------------------------------------
Xxxxxxx X. Xxxxxxx
President and Chief Executive Officer