EXHIBIT 99.2
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LETTER AGREEMENT
000 XXXX XXXXXX, XXXXX 0000
XXXX XXXXX, XXXXX 00000
October 16, 2002
Lone Star Technologies, Inc.
00000 X. Xxxxxx Xxxxxxx, Xxxxx 000
Xxxxxx, Xxxxx 00000
Attention: Xx. Xxxxxx X. Xxxxxx
Vice President, General Counsel and Secretary
Gentlemen:
Lone Star Technologies, Inc. ("Lone Star") has offered to include
Keystone, Inc. ("Keystone") as a selling stockholder in Lone Star's Registration
Statement on Form S-3 (the "Registration Statement") to enable Keystone to sell
up to 1,000,000 shares of Lone Star common stock under the Registration
Statement.
In consideration of Lone Star's inclusion of Keystone's common stock in
the Registration Statement, each of Keystone, Alpine Capital, L.P. and The Xxxx
X. and Xxxxxx X. Xxxx Foundation hereby agrees to execute a lock-up agreement,
if requested by Lone Star or the underwriters, in connection with any offering
of common stock (or securities convertible into common stock) by Lone Star under
the Registration Statement so long as such stockholders continue to hold in the
aggregate greater than 5% of the outstanding common stock of Lone Star. Any such
lock-up agreement will be on customary terms and will be for a period of time
ending no more than 90 days after the closing of each offering of such
securities under the Registration Statement.
Sincerely yours,
ALPINE CAPITAL, L.P.
By: Algenpar, Inc., General Partner
By: /s/ XXXXX X. XXXX
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Name: Xxxxx X. Xxxx
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Its: Vice President
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KEYSTONE, INC.
By: /s/ XXXXX X. XXXX
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Name: Xxxxx X. Xxxx
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Its: Vice President
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THE XXXX X. AND XXXXXX X. XXXX
FOUNDATION
By: /S/ XXXX X. XXXXX
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Name: Xxxx X. Xxxxx
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Its: Assistant Treasurer
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