Agreement to Surrender OptionsAgreement to Surrender Options • July 1st, 2005 • Stevermer Dennis J • Miscellaneous primary metal products
Concurrent with this letter (the "Agreement"), Dennis J. Stevermer ("Buyer") is entering into a Stock Purchase Agreement ("Stock Agreement") with J. Russell Duncan and Mimi G. Duncan in their capacity as trustees under certain trusts pursuant to which you are a named beneficiary. It is a condition to closing under the Stock Agreement that you surrender your options to purchase Class A common stock ("Options") in Milastar Corporation ("Milastar"). In consideration for Buyer entering into the Stock Agreement, by execution of this letter you are agreeing to surrender your Options to Milastar subject to the terms and conditions set forth herein.
