November 1, 1995 To: SIM-GT Licensing Corp. 16 East 40th Street New York, N.Y. 10016 Attention: Karen C. Gross, Vice President Legal and Business Affairs Gentlemen: In connection with the License Agreement (the "License Agreement") dated November 1,...License Agreement • December 14th, 1995 • Alpine Lace Brands Inc • Wholesale-groceries & related products
In connection with the License Agreement (the "License Agreement") dated November 1, 1996 between Alpine Lace Brands, Inc. (the "Company") and SIM-GT Licensing Corp. ("SIM"), we are pleased to inform you that on September 20, 1995 the Board of Directors of the Company approved the granting to you of (i) an option (the "Initial Grant") to purchase 5,000 shares (the "Initial Grant Shares") of Common Stock, par value $.01 per share (the "Common Stock"), of the Company, at a price of $11-1/64 per Share and (ii) an option (the "Subsequent Grant," and together with the Initial Grant referred to collectively as the "Options") to purchase 5,000 shares (the "Subsequent Grant Shares" and, together with the Initial Grant Shares referred to collectively as the "Shares") of Common Stock at a price equal to the closing price of the Common Stock on the business day next preceding the date such Subsequent Grant becomes exercisable.
