August ___, 2000 Addressees Attached Hereto on Schedule A Re: Certain Understandings Concerning Options Ladies and Gentlemen: Reference is made to that certain Agreement and Plan of Merger dated August 10, 2000, (the "Agreement") by and among KBII...Certain Understandings Concerning Options • August 18th, 2000 • Kbii Holdings Inc • Services-miscellaneous business services
Reference is made to that certain Agreement and Plan of Merger dated August 10, 2000, (the "Agreement") by and among KBII Holdings, Inc. ("Acquiror"), KBII Acquisition Company, Inc. ("Sub"), and BI Incorporated ("Target") pursuant to which Sub shall be merged with and into Target and the separate corporate existence of Sub shall cease and Target shall be the surviving corporation (the "Surviving Corporation"). The purpose of this letter is to set forth certain understandings by and among Acquiror, Sub, Target, and the parties set forth on Schedule A hereto (collectively, the "Shareholders"). ----------
