June __, 1998 HLM Design, Inc. 121 West Trade Street Suite 2850 Charlotte, North Carolina 28202 Ladies and Gentlemen: This will confirm the agreement and understanding of the undersigned that, notwithstanding the provisions of Section 3 of that...Security Escrow Agreement • June 12th, 1998 • HLM Design Inc • Services-engineering, accounting, research, management
This will confirm the agreement and understanding of the undersigned that, notwithstanding the provisions of Section 3 of that certain Security Escrow Agreement dated the date hereof among the undersigned, HLM Design, Inc. and First Union National Bank, as escrow agent (the "Agreement") the Shares (as defined in the Agreement) shall not be released from escrow under the Agreement pursuant to such Section 3 to the extent such release would result in the recognition of compensation expense to the Company in connection therewith.
