Exhibit 10.2
[XXXXXX XXXXXX XXXXXXXX & CO., INC. LETTERHEAD]
May 20, 1999
Just Toys, Inc.
c/o Xxxxxx Xxxxx, Esq.
Xxxxx and Xxxxxx, P.C.
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Gentlemen:
Pursuant to our earlier conversation, we have agreed that Xxxxxx Xxxxxx Xxxxxxxx
& Co., Inc. shall receive a fee of $150,000 for arranging the financing for the
4Kidz acquisiton, which fee shall be due and payable upon the closing of such
transaction.
We have further agreed that the exercise price for our 250,000 warrants (as
adjusted for the reverse stock split) will be re-set from $2.00 to $1.00. Please
acknowledge your agreement and understanding with the foregoing by signing a
copy of this letter in the space indicated below and returning it to my
attention. Thank you.
Sincerely,
/s/ Xxxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxxx
Senior Managing Director
Acknowledged and Agreed:
JUST TOYS, INC.
By: /s/ Xxxxx Xxxxxxx
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