EXHIBIT (c)(9)
FMCC ACQUISITION CORP.
000 Xxxx Xxxxxx
Xxx Xxxx, XX 00000
June 25, 1997
1888 Limited Partnership
c/o Day, Xxxxx & Xxxxxx
Xxx Xxxxxxxxxx Xxxxx
Xxxxxxxx, XX 00000
Attn: Xxxxxxx X. Xxxxx, Esq.
DST Systems, Inc.
0000 Xxxxxxxx
Xxxxxx Xxxx, XX 00000
Re: Board of Directors of
First of Michigan Capital Corporation
-------------------------------------
Dear Sirs:
Reference is made to that certain Securities Purchase Agreement
dated as of June 11, 1997 (the "Purchase Agreement"), among FMCC Acquisition
Corp., 1888 Limited Partnership and DST Systems, Inc. Unless otherwise defined
herein, capitalized terms used herein shall have the respective meanings
ascribed thereto in the Purchase Agreement.
Under the Purchase Agreement, it is a condition, among other
conditions, of Buyer's obligation to purchase the Securities under the Purchase
Agreement that the Board of Directors of the Company shall be composed of
designees of Buyer at the Closing Time, provided Buyer shall have used its best
efforts to make such designations prior to the Closing Time.
Buyer hereby designates the following individuals as its
designees to be elected to the Board of Directors of the Company:
1. Xx. Xxxxxx X. Xxxxxxxxx
Xxxxxxxxxx &. Co.
000 Xxxx Xxxxxx
Xxx Xxxx, XX 00000
2. Xx. Xxxxxx X. Xxxxxxx
Xxxxxxxxxx Viner Holdings Inc.
00 Xxxxxxxx Xxxxxx Xxxx
Xxxxx 0000
P.O. Box 2015
Xxxxxxx, Xxxxxxx X0X 0X0
3. Xx. X. Xxxx Oughtred
Xxxxxx & Elliot
Scotia Plaza
00 Xxxx Xxxxxx Xxxx
Xxxxxxx, Xxxxxxx X0X 0X0
4. Xx. Xxxxxx Xxxxx
First of Michigan Capital Corporation
000 Xxxxxxxxxxx Xxxxxx
00xx Xxxxx
Xxxxxxx, Xxxxxxxx
5. Xx. Xxxx Xxxxx
First of Michigan Capital Corporation
000 Xxxxxxxxxxx Xxxxxx
00xx Xxxxx
Xxxxxxx, Xxxxxxxx
Very truly yours,
FMCC ACQUISITION CORP.
By: /s/ Xxxxxx X. Xxxxxxxxx
---------------------------------
Xxxxxx X. Xxxxxxxxx
Chairman and CEO
cc: Xxxxxxxxxxxx Xxxx & Xxxxxxxxx
0000 Xxxx Xxxxxx
Xxxxxx Xxxx, Xxxxxxxx 00000
Attn: Xxxx X. Xxxxxx, Esq.
