Dear _________________: This letter is notification to you as a current holder of warrants, of the First Ipswich Bancorp's Intent to redeem all outstanding warrants per the agreement. According to section 12 of the warrant agreement, "At any time...Warrant Redemption Agreement • November 15th, 2004 • First Ipswich Bancorp /Ma • National commercial banks
This letter is notification to you as a current holder of warrants, of the First Ipswich Bancorp's Intent to redeem all outstanding warrants per the agreement. According to section 12 of the warrant agreement, "At any time following the date which is four years after the date of issuance of a Warrant, the Bancorp may, at its option, upon at least ninety (90) days' written notice to the holders thereof (which notice may be given prior to the expiration of the four-year period), redeem all or any portion of such Warrant at a redemption price of $0.001 per Warrant ("Redemption Price")". As such, we are exercising this option. Below you will find a breakdown of the number of your outstanding warrants.
