Exhibit 10.1
THE ST. ▇▇▇▇▇▇▇▇ SEAWAY CORPORATION
▇▇▇▇▇ ▇▇, Suite P
▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
April 16, ▇▇▇▇
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ & Company, Inc.
▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attention: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
Re: Stock and Warrant Purchase Agreement (the "Agreement"), dated as
of the 10th day of January, 2007, by and between The St. ▇▇▇▇▇▇▇▇
Seaway Corporation (the "Company") and ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ &
Company, Inc. ("BZ&CO.")
Dear ▇▇. ▇▇▇▇▇▇▇▇▇:
This letter will confirm that we have agreed upon an extension of the
date by which the Company must obtain Shareholder Approval (as defined in the
Agreement), under Section 5.6(c) of the Agreement, to no later than August 31,
2007.
Notwithstanding the foregoing, the balance of the Agreement shall remain
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binding on the Company and BZ&Co. and in full force and effect:
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Please indicate your acceptance of the foregoing by signing the
enclosed copy of this letter and returning it to the attention of the
undersigned.
Very truly yours,
THE ST. ▇▇▇▇▇▇▇▇ SEAWAY CORPORATION
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇
Title: Chairman of the Board
Hereunto Duly Authorized
ACCEPTED AND AGREED:
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▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ & COMPANY, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
Title: Chief Executive Officer
Hereunto Duly Authorized