SECOND MODIFICATION AGREEMENTAddendum or Modifications |
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SECOND MODIFICATION AGREEMENT
This SECOND MODIFICATION AGREEMENT ("Agreement") dated as of September
15, 2004, by and between Citadel Media, Inc., a Washington corporation
("Citadel"), and Orion Acquisition Corp. II, a Delaware corporation ("Orion").
RECITALS
Whereas, the parties entered into a Agreement and Plan of Merger, dated
June 23, 2004, as amended on July 2, 2004 ("Merger Agreement"), which provided
for a closing of the merger of Citadel with and into Orion ("Merger") on or
before, but no later than July 31, 2004 ("Closing Date"), and
Whereas, the Merger and Closing Date did not occur, and
Whereas, the parties hereto wish to terminate the Merger Agreement
without penalty or expense to either, understanding that the terms thereof have
to be reconsidered because of the passage of time and the change in
circumstances that have occurred making the current form no longer entirely
applicable to the previous terms of the business combination; and
Whereas, the parties may continue discussions for a possible business
combination but wish to do so outside the confines of the prior Merger
documentation.






