Free Redacted Document - District Court of Delaware - Delaware

Case 1:05-cv—00879-SLR Document 131-3 Filed 08/23/2006 Page 1 012

` ‘ Case 1 :05-cv—00879-SLR Document 131 -3 Filed 08/23/2006 Page 2 of 2
CRAVATH, SWAINE E. Moon:-: I.I.I= I
WORLDWIDE Putza .
T.';‘:*.t;’ .§:3S.?.'t' EQ'.2L%.‘: .2‘f’§.§i¥. 825 EIEHTH AVENUE $T£.".§E“.f..%.I&"“‘“' 2i‘.2L”.7;.'$$.?.L$t...
t‘;.‘.7£‘.S'L‘f‘§§i‘Z2 S2Li'§Z.`lLi§$‘.... NEW Y¤E*<· NY *0*3*9-7475 32.$‘J7.$2'.L‘l.'1... `3*1?.I'iIt-‘.;$‘f"°"
PAUL C. BAUNDERB ROBERT H. IARON ROBERT I. TOWNSEND, ll LIZABETNANN R. IISEN
uoununs ¤. ¤noA¤wA1·:n nvm .1. oncmu TELEPHDN E: (Z I 2) 474- IGOCI WILLIAM .I. wI·I¢I.AN. ¤ DAVID s. nuxnunttu
:.‘<.:.*‘.$.:¥:.?:.:‘°°" :Titt::3.;‘a‘3."" ~=¤·M·L== <=·=· ·~·=·*¤¤ SETJIS1
STUART W. GOLD MARC B. ROSENBERG —— ROGER O. BROOKS PAUL H. IUMBRO
JOHN E. IEERIOWER WILLIAM I. IRANNAN WILLIAM V. FOGG JOEL Y. HEROLU `
wan n. cnnstzn ausm wzssman ` out R°‘1';*;:L';'._m"T run .1. sA¢:¤ smc w. ustrzna
PATRICIA GEQQHIGAN TIMOTHY G. MABIAD RICHARD J. BTARK GEORGE F. BCHCIQN
:;::::1-: ··»-»%·‘i·¤'¢?¥·¥f¤Y.¤’1¤··~¤~ ::<.:z*·;.:;:.:.·:.~...... ··*-
nm; r. nnnuzctmu Joan r. onrncv ”°""'“’ “"°"“°""‘° n¤mu.¤ cmu ······—
T; "‘£"“'“? ""22“"° "E'..T.'}.I‘.£‘2.".?E$.'I...... . · Z.‘.i`.Z$.§‘J’JZ.‘.5'¥E. ¤···=··~ =¤¤~=-L
, rznrgzlagtgon :AUL MICI-IALBKI WRHTER S DIRECT UML NUNBER amen c. woouzmr ulynzg? zxgzz N
RORY 0. MILLEON THOMAS 0. RAFFERTY DAVID R. MARRIOTT THGMAS ¤` BARR '
¥.Eit.2;I’f.°I’17.'.$$‘. $.‘I§!.‘2§.§ $.‘iIE“°"‘" 2‘J.‘:L’I."“" "'.€§'"
RICHARD II;. DIARY · ELIZARETN L. GRAYER - 1 l MICN::I.·!l:. IRIEYNOLDS _;-_1
WILLIAM F. ROGERS. JR. JULIE A. NORTH ANTONY L. RYAN OP COUNSEL
. JAMES D. COOPER ANDREW W. NEEDMAM GEORGE E. IOIITZ ROBERT ROIENHAN
s·rn¤I·I:M I;. ccnncu a·r¢mI:N I., ¤unN¤ ¤I:¤n¤l: A. ¤‘r:I=HANAKI¤ CHRIBTINE ¤uIIAR
‘ June 24, 2006
Pike Electric Corp. and Pike Electric, Inc. v. Dubea, I
· D. Del., C.A. No. 05879-SLR
A _ Dear Lewis: —
_ I write in response to your June I, 2006 letter. Pursuant to Section 5.10 of
the Employment Agreement dated as of July l, 2004 between Pike Electric, Inc. and
Mick J. Dubea (the "Employment Agreement"), Pike hereby informs your client, Mr. ‘
Dubea, that Pike has in good faith determined that Mr. Dubea is in breach of Section 5.07
of the Employment Agreement. Consequently, under Section 5.10 ofthe Employment
Agreement, Pike has the right to "cease making any payments or providing any benefit ‘
(including by way of vesting of any Restricted Shares acquired pursuant to Section 2.03)
_ otherwise required by [the Employment Agreement] ." Pike hereby explicitly exercises
its right, under Section 5.10 of the Employment Agreement, to cease making any
. payments called for by the Employment Agreement to Mr. Dubea as a result of his breach
of Section 5.07. Because Mr. Dubea has forfeited his restricted shares and Multiplier
» Amount payments under Section 5.10, Mr. Dubea remains obligated to comply with
Sections 5.06 and 5.07 of the Employment Agreement.
. _ rely,
1 Michael A. Paskin A
. Lewis H. Lazarus
` Morris, James, Hitchens & Williams LLP
222 Delaware Avenue, 10th Floor
Wilmington, Delaware I 9801-1621
FEDERAL EXPRESS