STIFEL NICOLAUSNicolaus • December 14th, 2007 • American Defense Systems Inc • Maryland
Reference is made to that certain engagement letter agreement dated August 8, 2006 between Stifel, Nicolaus & Company, Incorporated (“Stifel Nicolaus”) and American Defense Systems, Inc. (the “Prior Agreement”). This letter agreement (this “Agreement”) is intended to and shall supersede the Prior Agreement and, upon execution of this Agreement, the Prior Agreement will terminate and be of no further force and effect with the exception of Section II(F) and the related Attachment A thereof which will survive such termination of the Prior Agreement.
