EX-10.2 3 a2039842zex-10_2.txt EXHIBIT 10.2 Exhibit 10.2 SCP EQUITY PARTNERS II, L.P. Building 300 435 Devon Park Drive Wayne, PA 19087 As of February 16, 2001 ICG Holdings, Inc. Pencador Corporate Center 100 Lake Drive, Suite 4 Newark, DE 19742 Attention: Henry Nassau Breakaway Solutions, Inc. 3 Clock Tower Place, 4th Floor Maynard, MA 01754 Attn: Corporate Secretary Re: Series A Preferred Stock Purchase Agreement (the "Purchase Agreement"), dated as of February 16, 2001, among Breakaway Solutions, Inc. (the "Company"), SCP Private Equity Partners II, L.P. ("SCP"), and ICG Holdings, Inc. ("ICG") Gentlemen: This will confirm our agreement as follows: 1. Pending the enlargement of the Company's board of directors and the designation of new directors by SCP and ICG (the "Purchasers") as provided for and contemplated by the Purchase Agreement, the Company shall use its best efforts to obtain the resignation from its board of Christopher Greendale, and shall allow such seat to remain vacant until filled by a designee of the Purchasers. The creation and maintenance of such vacancy shall be an additional condition precedent to any obligation of the Purchasers to purchase the Initial Preferred Stock (as defined in the Purchase Agreement) and, in the case of SCP, the Option Preferred Stock (as defined in the Purchase Agreement). If the foregoing correctly sets forth our understanding, please sign where indicated below. Very truly yours, SCP PRIVATE EQUITY PARTNERS II, L.P. By: SCP Private Equity II General Partner, L.P., its General Partner By: SCP Private Equity II, LLC, its Manager By: /s/ Wayne B. Weisman -------------------------------------------- Name: Wayne B. Weisman Title: Manager CONFIRMED AND AGREED TO: ICG HOLDINGS, INC. By: /s/ Henry N. Nassau ----------------------------------------- Name: Henry N. Nassau Title: Managing Director and General Counsel Date: As of February 16, 2001 BREAKAWAY SOLUTIONS, INC. By: /s/ Kevin Comerford ------------------------------------------ Name: Kevin Comerford Title: Chief Financial Officer Date: As of February 16, 2001 -2-