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Technology Stocks : SYNTEL (SYNT) - Upcoming Year 2000 IPO -- Ignore unavailable to you. Want to Upgrade?

To: JDN who wrote (2599)	10/7/1999 12:46:00 PM
From: Steve Rodio	Read Replies (1) \| Respond to of 2761

Synt did guarantee a share price of $20 on September 22, 2001 and for 90 days following, in a manner of speaking. They agreed to purchase the 300,000 shares during that time period for $20. No question that they believe that the share price will be that or higher. If they are wrong, or course, they eat the difference. From the purchase and sale agreement: <<5.18. SHARE PRICE GUARANTY. Buyer agrees that during the period commencing on the second anniversary of the Closing Date and ending 90 days after the second anniversary of the Closing Date, Buyer shall, upon a Shareholder's request, repurchase from such Shareholder at a price of $20.00 per share the Stock Consideration delivered to such Shareholder in conjunction with Section 1.7 hereof (the "Share Price Guaranty"). The Share Price Guaranty shall not be transferable or assignable, except (i) by will or operation of law following the death of the Shareholder; or (ii) in connection with a Shareholder's estate planning. This Share Price Guaranty shall be void with respect to any attempted transfer or assignment of the Share Price Guaranty in violation of this Section 5.18 and shall not be honored by Buyer. Buyer shall make payment with respect to any shares tendered hereunder within thirty (30) days following request by the authorized party hereunder.>>