Consent to Extension of Redemption Date for Series A-1 and A-2 Redeemable Preferred Stock between North Atlantic Value LLP and Telos Corporation
North Atlantic Value LLP and Telos Corporation have agreed to extend the redemption date for 6.85 shares of Series A-1 and 9.58 shares of Series A-2 Redeemable Preferred Stock to December 31, 2011. The shares will continue to be governed by the terms of the existing Preferred Stockholders Standby Agreement. This document formalizes the consent to the new redemption date and acknowledges the ongoing obligations under the referenced agreement.
Exhibit 10.18
North Atlantic Value LLP A/C B
c/o North Atlantic Value LLP
James Ryan
Ground Floor, Ryder Court
14 Ryder Street
London SW1Y 6QB
UNITED KINGDOM
Series A-1 and Series A-2 Redeemable Preferred Stock
North Atlantic Value LLP A/C B herewith consents to an extension of the redemption date of its 6.85 shares of Series A-1 Redeemable Preferred Stock and 9.58 shares of Series A-2 Redeemable Preferred Stock, issued by Telos Corporation, to December 31, 2011. This stock shall remain subject to any and all terms and conditions of the Preferred Stockholders Standby Agreement (integrated hereto by reference), entered into by North Atlantic Value LLP’s predecessor, RBSI Custody Bank, Ltd. on or about January 14, 2003 with Wells Fargo Foothill, Inc. (formerly Foothill Capital Corporation).
AGREED AND ACKNOWLEDGED,
| North Atlantic Value LLP A/C B | Telos Corporation | |||
| By: | ||||
| | /s/ Therese K. Hathaway | |||
| Signature(s): | Therese K. Hathaway | |||
| Vice President, Corporate Secretary | ||||
| | ||||
| Name(s): | ||||
| | ||||
| Title: | ||||
| 6/4/2008 | March 13, 2008 | |||
| Date: | ||||
