November 22, 1999 PERSONAL AND CONFIDENTIAL ------------------------- The Board of Directors CNY Financial Corporation 1 North Main Street Cortland, NY 13045 Attention: Mr. Harvey Kaufman Chairman of the Board of Directors Gentlemen: This letter...Personal and Confidential • March 24th, 2000 • Cny Financial Corp • Savings institution, federally chartered • New York
This letter agreement confirms our understanding of the engagement of CIBC World Markets Corp. ("CIBC World Markets") by CNY Financial Corporation (together with its subsidiaries and affiliates, the "Company") to act as exclusive financial advisor to the Company in connection with a possible sale or other transfer, directly or indirectly and whether in one or a series of transactions, of all or a significant portion of the assets or securities of the Company or any extraordinary corporate transaction involving a change in control of the Company, regardless of the form or structure of such transaction (the "Transaction").
