EXHIBIT 10.3
[SUPERIOR TELECOM INC. LETTERHEAD]
As of May 1, 1999
The Alpine Group, Inc.
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Re: SERVICES AGREEMENT DATED AS OF OCTOBER 2, 1996 BY AND BETWEEN
THE ALPINE GROUP, INC. AND SUPERIOR TELECOM INC. AS AMENDED AND
EXTENDED TO DATE (AS SO AMENDED AND EXTENDED, THE "AGREEMENT")
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This will confirm our agreement in modification and extension of the
captioned Agreement as follows:
1. Section 3(b) of the Agreement (as previously amended by letter agreement
dated as of May 1, 1997) is hereby further amended by adding the
following after the first sentence thereof; provided that, commencing
September 1, 2000 through and including December 31, 2001, such fee shall
increase to $5,000,000 per year.
2. Section 4(a) of the Agreement (as previously amended by letter agreement
dated as of May 1, 1997 and extended by letter agreement dated as of May 1,
1998), is hereby amended by inserting the following after the first
sentence thereof:
"Effective from and after May 1, 1999 and through August 31, 2000,
Superior shall pay Alpine the fee provided for under Section 3(b)
(the "Fee") quarterly in advance; for the period commencing September
1, 2000 and through August 31, 2001, Superior shall pay Alpine the
Fee semi-annually in advance; and for the period commencing September
1, 2001 through December 31, 2001, Alpine shall pay the Fee in
advance."
3. Section 9 of the Agreement is amended so that the automatic termination
date stated therein shall be December 31, 2001.
The amendments provided for herein have been approved by the Audit
Committee of the Board of Directors of Superior TeleCom Inc.
As modified hereby, the Agreement is hereby expressly ratified and
confirmed.
The Alpine Group, Inc.
Page 2
If the foregoing conforms with your understanding of the agreement
reached between us, kindly execute a copy of this letter so indicating.
Very truly yours,
SUPERIOR TELECOM INC.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Its: Chief Executive Officer
Agreed to as of the date first
hereinabove set forth
THE ALPINE GROUP, INC.
By: /s/ Bragi ▇. ▇▇▇▇▇
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Bragi ▇. ▇▇▇▇▇
Its: Executive Vice President