Compromise Agreement among Dialog Group, Inc., Cater Barnard, plc, and Stephen Dean (April 7, 2003)

Summary

Dialog Group, Inc., Cater Barnard, plc, and Stephen Dean have agreed to modify their previous merger agreement. Cater Barnard is released from its obligation to guarantee certain financing, and in return, will give up 3,500,000 shares of Dialog Group common stock. Stephen Dean will resign from his positions as director and officer of Dialog Group and withdraw as a nominee for director. Cater Barnard also gives up its right to designate two directors, accepting Adrian Stecyk as its sole representative. This agreement updates and settles the parties' mutual obligations.

EX-2.4 3 b324810_ex2-4.htm PLAN OF ACQUISITION, REORGANIZATION, ETC.

Exhibit 2.4

COMPROMISE AGREEMENT

THIS AGREEMENT (the “Agreement”) is dated April 7, 2003 by and among Dialog Group, Inc., a Delaware corporation, (“DGI”), Cater Barnard, plc, an a corporation of England and Wales (“CB”), and Stephen Dean. The foregoing are collectively referred to as the "Parties".

RECITALS

1.    The Parties have agreed to certain changes to their mutual obligations.

NOW, THEREFORE, the Parties agree as follows:

AGREEMENT

1.    Reference is made to an Agreement of Merger among DGI, CB, and others dated November 7, 2002 (“Agreement”) and an amendment thereto (“Amendment”).

2.    CB is hereby relieved of its guarantee obligation to provide financing pursuant to sections 7.01(b), (c), (d), and (e) of the Merger Agreement as amended by section 21 of the Amendment.

3.    In consideration of this relief, CB shall relinquish 3,500,000 shares of DGI Common Stock. CB agrees that these shares shall be deducted from the shares it was to receive upon conversion of its DGI Class B Preferred Stock.

4.    Stephen Dean hereby resigns as a Director and Officer of DGI and withdraws as a nominee for Director at the 2003 annual meeting.

5.    CB hereby relinquishes its right to designate two directors and agrees instead to accept the election of Adrian Stecyk as its sole representative.

IN ORDER TO INDICATE THEIR INTENTION to be bound by this Amendment, the Parties hereto have caused this Agreement to be duly executed as of the date first above written by their respective duly authorized officers.

DIALOG GROUP, INC.

 

  /s/ PETER DECRESCENZO
 
By: Peter DeCrescenzo, President
   
   
  /s/ STEPHEN DEAN
 
  Stephen Dean
   
   
Cater Barnard, plc
   
  /s/ STEPHEN DEAN
 
  Stephen Dean
   

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