First Extension of Stock Repurchase Agreement between Wilmington Savings Fund Society, FSB and Artesian Resources Corporation

Summary

This document extends the original Stock Repurchase Agreement between Wilmington Savings Fund Society, FSB (Seller) and Artesian Resources Corporation (Buyer). The termination date of the agreement is now August 31, 2013, unless ended earlier or further extended by mutual written consent. All other terms of the original agreement remain unchanged. The extension is effective as of August 31, 2012, and is signed by authorized representatives of both parties.

EX-10.1 2 ex10-1.htm FIRST EXTENSION OF STOCK REPURCHASE AGREEMENT ex10-1.htm

FIRST EXTENSION OF STOCK REPURCHASE AGREEMENT

That certain Stock Repurchase Agreement (the "Agreement"), dated August 31, 2011, by and between Wilmington Savings Fund Society, FSB ("Seller") and Artesian Resources Corporation, a Delaware corporation ("Buyer") is hereby extended as follows:

Pursuant to Section 7.01 of the Agreement, by mutual written consent of Seller and Buyer the termination date of the Agreement is extended to August 31, 2013, unless earlier terminated pursuant to Section 7.01 or extended for an additional

period of time by the written mutual consent of Seller and Buyer.

2. Except as modified hereinabove the terms of the Agreement shall continue in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this First Extension of Stock

Repurchase Agreement to be executed as of August 31, 2012 by their respective officers thereunto duly authorized.

		SELLER:

		WILMINGTON SAVINGS FUND SOCIETY, FSB

		BY:	/s/ Mark M. Pryslak
			Name: Mark M. Pryslak
		Title: Vice President

		BUYER:

		ARTESIAN RESOURCES CORPORATION

		BY:	/s/ David B. Spacht
			Name: David B. Spacht
		Title: CFO Treasurer