Mutual Termination Agreement of Equity Purchase Agreement between XO Holdings, Inc. and Elk Associates, LLC

Summary

XO Holdings, Inc. and Elk Associates, LLC have mutually agreed to terminate their Equity Purchase Agreement, originally dated November 4, 2005, with no damages or break-up fee required from either party. This decision was made following a recommendation from XO Holdings' Special Committee and approval by its Board of Directors. Both parties confirm the termination by signing this agreement, effectively ending all obligations under the original Equity Purchase Agreement.

EX-2.1 2 w19311exv2w1.htm EXHIBIT 2.1 exv2w1

Exhibit 2.1

Execution Version

March 30, 2006

Elk Associates, LLC
c/o Icahn Associates Corp.
47^th Floor
767 Fifth Avenue
New York, New York 10153


Re:		Termination of Equity Purchase Agreement, dated as of November 4, 2005, as amended
		(the “Equity Purchase Agreement”)

Gentlemen:

Pursuant to the recommendation of the Special Committee of our Board of Directors, our Board of Directors has determined that mutual termination of the Equity Purchase Agreement, without damages or a break-up fee, is, under the circumstances, in the best interests of XO Holdings, Inc. and therefore, we hereby agree to terminate the Equity Purchase Agreement by mutual consent.

Please confirm your agreement to likewise terminate the Equity Purchase Agreement by your signature in the space provided below.

Very truly yours,

XO HOLDINGS, INC.



By:	/s/ Carl J. Grivner
	Name: Carl J. Grivner
	Title: Chief Executive Officer

Acknowledged and agreed:

ELK ASSOCIATES LLC



By:	/s/ Edward Mattner
	Name: Edward Mattner
	Title: Treasurer