Attached files

file filename
EX-21 - EXHIBIT 21 - TELOS CORPdex21.htm
EX-32 - EXHIBIT 32 - TELOS CORPdex32.htm
EX-31.1 - EXHIBIT 31.1 - TELOS CORPdex311.htm
EX-31.2 - EXHIBIT 31.2 - TELOS CORPdex312.htm
EX-10.31 - EXHIBIT 10.31 - TELOS CORPdex1031.htm
EX-10.27 - EXHIBIT 10.27 - TELOS CORPdex1027.htm
EX-10.28 - EXHIBIT 10.28 - TELOS CORPdex1028.htm
EX-10.26 - EXHIBIT 10.26 - TELOS CORPdex1026.htm
EX-10.24 - EXHIBIT 10.24 - TELOS CORPdex1024.htm
EX-10.30 - EXHIBIT 10.30 - TELOS CORPdex1030.htm
10-K - FORM 10-K - TELOS CORPd10k.htm

Exhibit 10.29

North Atlantic Value LLP A/C B

Ryder Court, 14 Ryder Street, Ground Floor

London, SW1Y 6QB

United Kingdom

 

To: Telos Corporation

Attn: Ms. Therese K. Hathaway

Corporate Secretary

19886 Ashburn Road

Ashburn, VA 20147

Series A-1 and Series A-2 Redeemable Preferred Stock

Dear Ms. Hathaway:

It has been brought to our attention that Cudd & Co., the holder of 61.605 shares of Series A-1 Redeemable Preferred Stock (the “Series A-1 Shares”) of Telos Corporation (the “Corporation”) and 86.247 shares of Series A-2 Redeemable Preferred Stock (the “Series A-2 Shares” and, together with the Series A-1 Shares, the “Cudd Shares”) of the Corporation has offered to sell the Cudd Shares to the Corporation for a total purchase price of $430,000, such purchase price to include all of the Cudd Shares plus all dividends accrued on the Cudd Shares, the latter at a discount of 17.5%.

We herewith waive any right that we may have, in connection with the repurchase by the Corporation of the Cudd Shares, to have (i) any or all of the outstanding shares of Series A-1 Redeemable Preferred Stock or any or all of the outstanding shares of Series A-2 Redeemable Preferred Stock held by North Atlantic Value LLP A/C B (together, the “North Atlantic Value Shares”) purchased or redeemed pro-rata pursuant to the charter of the Corporation, including without limitation Section 2(d) and Section 4(a) of each of the terms and conditions of the Series A-1 Redeemable Preferred Stock and the Series A-2 Redeemable Preferred Stock (together, the “Terms”) and (ii) any or all of the dividends accrued on the North Atlantic Value Shares declared, paid or set aside for payment pro rata pursuant to the charter of the Corporation, including without limitation Section 2(b) and Section 2(c) of each of the Terms, as a result of the payment of the dividends accrued on the Cudd Shares. We further herewith consent to the repurchase by the Corporation of the Cudd Shares. We understand that the North Atlantic Value Shares will remain outstanding following the repurchase by the Corporation of the Cudd Shares and that such repurchase will not affect dividends accrued on the North Atlantic Value Shares as of the date hereof and dividends will continue to accrue on the North Atlantic Value Shares in accordance with the Terms.

Sincerely,

 

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