EXHIBIT 2.2
AMENDMENT NO. 1
TO STOCK PURCHASE AGREEMENT
This Amendment No. 1 to Stock Purchase Agreement is entered into as of
November 15, 1998 by and among Tetra Tech, Inc., a Delaware corporation ("Tetra
Tech"), Tetra Tech Canada Ltd., an Ontario corporation and wholly-owned
subsidiary of Tetra Tech ("TTC"), and Raymond Conroy, Elizabeth Stanmore,
Leonard Stanmore, Peter Nicoletti, Silvana Nicoletti, James Suen, Gordon Brooks
and Andre Greco (collectively, the "Shareholders").
R E C I T A L S
WHEREAS, Tetra Tech, TTC and the Shareholders have entered into that
certain Stock Purchase Agreement dated as of September 22, 1998 (the "Original
Agreement") with respect to the purchase by TTC of the Shares (as defined in the
Original Agreement) owned by the Shareholders; and
WHEREAS, Tetra Tech, TTC and the Shareholders desire to amend certain
provisions of the Original Agreement as more specifically set forth below;
NOW, THEREFORE, in consideration of the premises and the mutual
covenants herein contained, Tetra Tech, TTC and the Shareholders agree as
follows:
1. The first two sentences of subparagraph (a) of Section 1.2 of the
Original Agreement are hereby amended in full to read as follows:
"The total price to be paid by TTC to the Shareholders for the Shares
shall be $21,596,865.13 U.S. Dollars (the "Purchase Price"). Of such amount,
$3,465,891.33 shall be paid in cash on the Closing Date (as defined in Section
6.1 hereof) by wire transfer of immediately available funds. In addition, the
Shareholders shall receive cash on the Closing Date in the aggregate sum of
$1,049,575.87 U.S. Dollars which represents the payment in full of liabilities
due to them by the Sentrex Companies (as defined in the Original Agreement)."
2. Exhibit 1.2C to the Original Agreement shall be deleted in its
entirety and replaced by Exhibit 1.2C attached hereto.
3. Article 8 of the Original Agreement is hereby incorporated herein
by reference.
4. Except as set forth in this Amendment No. 1 to Stock Purchase
Agreement, all of the terms and conditions of the Original Agreement shall
remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment No. 1 to
Stock Purchase Agreement as of the date first above written.
TETRA TECH, INC.
By: ______________________________
Li-San Hwang
Chief Executive Officer
and President
TETRA TECH CANADA LTD.
By: ______________________________
Leonard Stanmore
President
___________________________________
Raymond Conroy
___________________________________
Elizabeth Stanmore
___________________________________
Leonard Stanmore
___________________________________
Peter Nicoletti
___________________________________
Silvana Nicoletti
___________________________________
James Suen
___________________________________
Gordon Brooks
___________________________________
Andre Greco
EXHIBIT 1.2C
STOCK PURCHASE AGREEMENT AMONG TETRA TECH, INC. AND
THE SENTREX GROUP OF COMPANIES
Consideration to be Received by the Company's Shareholders
Relative Total
Shareholder Shares Ownership Payment
- ------------------------- ---------- ------------ ---------------
1056584 ONTARIO LIMITED
Leonard Stanmore 101 100.00% 3,064,789
---------- ------------ ---------------
Total 101 100.00% 3,064,789
---------- ------------ ---------------
---------- ------------ ---------------
1056585 ONTARIO LIMITED
Peter Nicoletti 101 100.00% 2,417,714
---------- ------------ ---------------
Total 101 100.00% 2,417,714
---------- ------------ ---------------
---------- ------------ ---------------
VENTURE CABLE LIMITED
Leonard Stanmore 32 32.00% 68,265
Peter Nicoletti 32 32.00% 68,265
Andre Greco 18 18.00% 69,615
Gordon Brooks 18 18.00% 69,615
---------- ------------ ---------------
Total 100 100.00% 275,760
---------- ------------ ---------------
---------- ------------ ---------------
CEN-COMM COMMUNICATIONS INC.
Raymond Conroy 124 40.00% 1,223,635
Elizabeth Stanmore 186 60.00% 1,844,046
---------- ------------ ---------------
Total 310 100.00% 3,067,681
---------- ------------ ---------------
---------- ------------ ---------------
SENTREX ELECTRONICS INC.
Leonard Stanmore 100 16.67% 116,060
Peter Nicoletti 100 16.67% 116,060
James Suen 200 33.33% 219,257
Elizabeth Stanmore 100 16.67% 116,060
Silvana Nicoletti 100 16.67% 116,060
---------- ------------ ---------------
Total 600 100.00% 683,497
---------- ------------ ---------------
---------- ------------ ---------------
LAL CORP.
Leonard Stanmore 1,350 45.00% 5,911,650
Peter Nicoletti 750 25.00% 3,284,250
James Suen 300 10.00% 1,313,700
Raymond Conroy 600 20.00% 2,627,400
---------- ------------ ---------------
Total 3,000 100.00% 13,137,000
---------- ------------ ---------------
---------- ------------ ---------------
GRAND TOTALS
Leonard Stanmore 1,583 37.58% 9,160,764
Peter Nicoletti 983 23.34% 5,886,289
Raymond Conroy 724 17.19% 3,851,035
James Suen 500 11.87% 1,532,957
Elizabeth Stanmore 286 6.79% 1,960,106
Silvana Nicoletti 100 2.37% 116,060
Andre Greco 18 0.43% 69,615
Gordon Brooks 18 0.43% 69,615
---------- ------------ ---------------
Total 4,212 100.00% 22,646,441
---------- ------------ ---------------
---------- ------------ ---------------
Advance Shares @
Shareholder Payment 19.70
- ------------------------- --------------- -------------
1056584 ONTARIO LIMITED
Leonard Stanmore 280,334.40 124,458
--------------- -------------
Total 280,334.40 124,458
--------------- -------------
--------------- -------------
1056585 ONTARIO LIMITED
Peter Nicoletti 269,241.47 98,181
--------------- -------------
Total 269,241.47 98,181
--------------- -------------
--------------- -------------
VENTURE CABLE LIMITED
Leonard Stanmore - 2,772
Peter Nicoletti - 2,772
Andre Greco - 3,533
Gordon Brooks - 2,827
--------------- -------------
Total - 11,904
--------------- -------------
--------------- -------------
CEN-COMM COMMUNICATIONS INC.
Raymond Conroy - 49,690
Elizabeth Stanmore - 74,885
--------------- -------------
Total - 124,575
--------------- -------------
--------------- -------------
SENTREX ELECTRONICS INC.
Leonard Stanmore - 4,713
Peter Nicoletti - 4,713
James Suen - 8,903
Elizabeth Stanmore - 4,713
Silvana Nicoletti - 4,713
--------------- -------------
Total - 27,755
--------------- -------------
--------------- -------------
LAL CORP.
Leonard Stanmore 225,000.00 240,067
Peter Nicoletti 125,000.00 133,370
James Suen 50,000.00 53,348
Raymond Conroy 100,000.00 106,696
--------------- -------------
Total 500,000.00 533,481
--------------- -------------
--------------- -------------
GRAND TOTALS
Leonard Stanmore 505,334 372,010
Peter Nicoletti 394,241 239,036
Raymond Conroy 100,000 156,386
James Suen 50,000 62,251
Elizabeth Stanmore - 79,598
Silvana Nicoletti - 4,713
Andre Greco - 3,533
Gordon Brooks - 2,827
--------------- -------------
Total 1,049,575.87 920,354
--------------- -------------
--------------- -------------
Consideration Total
Shareholder Share Value* Cash Value Consideration
- ------------------------- --------------- --------------- ---------------
1056584 ONTARIO LIMITED
Leonard Stanmore 2,451,822.60 332,632.00 2,784,454.60
--------------- --------------- ---------------
Total 2,451,822.60 332,632.00 2,784,454.60
--------------- --------------- ---------------
--------------- --------------- ---------------
1056585 ONTARIO LIMITED
Peter Nicoletti 1,934,165.70 214,306.83 2,148,472.53
--------------- --------------- ---------------
Total 1,934,165.70 214,306.83 2,148,472.53
--------------- --------------- ---------------
--------------- --------------- ---------------
VENTURE CABLE LIMITED
Leonard Stanmore 54,608.40 13,656.60 68,265.00
Peter Nicoletti 54,608.40 13,656.60 68,265.00
Andre Greco 69,600.10 14.90 69,615.00
Gordon Brooks 55,691.90 13,923.10 69,615.00
--------------- --------------- ---------------
Total 234,508.80 41,251.20 275,760.00
--------------- --------------- ---------------
--------------- --------------- ---------------
CEN-COMM COMMUNICATIONS INC.
Raymond Conroy 978,893.00 244,742.00 1,223,635.00
Elizabeth Stanmore 1,475,234.50 368,811.50 1,844,046.00
--------------- --------------- ---------------
Total 2,454,127.50 613,553.50 3,067,681.00
--------------- --------------- ---------------
--------------- --------------- ---------------
SENTREX ELECTRONICS INC.
Leonard Stanmore 92,846.10 23,213.90 116,060.00
Peter Nicoletti 92,846.10 23,213.90 116,060.00
James Suen 175,389.10 43,867.90 219,257.00
Elizabeth Stanmore 92,846.10 23,213.90 116,060.00
Silvana Nicoletti 92,846.10 23,213.90 116,060.00
--------------- --------------- ---------------
Total 546,773.50 136,723.50 567,437.00
--------------- --------------- ---------------
--------------- --------------- ---------------
LAL CORP.
Leonard Stanmore 4,729,319.90 957,330.10 5,686,650.00
Peter Nicoletti 2,627,389.00 531,861.00 3,159,250.00
James Suen 1,050,955.60 212,744.40 1,263,700.00
Raymond Conroy 2,101,911.20 425,488.80 2,527,400.00
--------------- --------------- ---------------
Total 10,509,575.70 2,127,424.30 12,637,000.00
--------------- --------------- ---------------
--------------- --------------- ---------------
GRAND TOTALS
Leonard Stanmore 7,328,597.00 1,326,832.60 8,655,429.60
Peter Nicoletti 4,709,009.20 783,038.33 5,492,047.53
Raymond Conroy 3,080,804.20 670,230.80 3,751,035.00
James Suen 1,226,344.70 256,612.30 1,482,957.00
Elizabeth Stanmore 1,568,080.60 392,025.40 1,960,106.00
Silvana Nicoletti 92,846.10 23,213.90 116,060.00
Andre Greco 69,600.10 14.90 69,615.00
Gordon Brooks 55,691.90 13,923.10 69,615.00
--------------- --------------- ---------------
Total 18,130,973.80 3,465,891.33 21,596,865.13
--------------- --------------- ---------------
--------------- --------------- ---------------
*Given the effect of cash in lieu of fractional shares
% 83.95% 16.05%