678992.1
Exhibit 4.2
AEGIS REALTY, INC.
000 XXXXXXX XXXXXX
XXX XXXX, XXX XXXX 00000
April 3, 1998
Xxxxxx X. Xxxxx
00 Xxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Dear Xx. Xxxxx:
This letter agreement will confirm that the terms of your compensation as
a member of the Board of Directors of Aegis Realty, Inc., a Maryland corporation
(the "Corporation"), are as follows:
As a Director of the Corporation, you will be entitled to receive
compensation at the rate of $15,000 per year in shares of Common Stock of the
Corporation, up to $5,000 of which may be received in cash at your option. The
value of the shares of Common Stock of the Corporation issued to you will be
based on the fair market value at the date of issuance of such shares. You will
also receive reimbursement of travel and other expenses and other out-of-pocket
disbursements incurred in attending any meetings of the Board of Directors of
the Corporation.
If this letter accurately describes the compensation terms of your
position as a Director of the Corporation, please sign each enclosed original
where indicated below, and return one of the signed originals to my attention.
I look forward to our continuing efforts on behalf of the Corporation.
Sincerely yours,
/s/ Xxxxxx X. Xxxxxx
Xxxxxx X. Xxxxxx
President
Agreed and Acknowledged this
3rd day of April, 1998
/s/ Xxxxxx X. Xxxxx
Xxxxxx X. Xxxxx
