Mark J. Steel and Connie J. Steel - Page 26




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          of Stetson Guske & Koenes, P.L.L.C. (“SG&K”) to conduct an audit            
          of the Company’s financial statements, which audit shall be                 
          completed on or before April 30, 1996.  The results of the audit            
          * * * shall be reviewed by KPMG Peat Marwick L.L.P. (“KPMG”) and,           
          provided that KPMG provides to Purchaser a written report                   
          addressed to the Company stating that KPMG has no material                  
          disagreement with the balance sheet and income statement portions           
          of the Audited Financial Statements, the Purchase Price shall be            
          adjusted as set forth in Subsections 2.3.1, 2.3.2 or 2.3.3 below            
          (as applicable).  In connection with KPMG’s review of the Audited           
          Financial Statements, KPMG shall be provided full access to:  (i)           
          all of SG&K’s working papers relating to the Audited Financial              
          Statements; and (ii) all of the Company’s books and records.  If            
          KPMG disagrees with the Audited Financial Statements, then the              
          firm of Price Waterhouse shall be retained to conduct an                    
          independent audit, and the results of that audit shall be the               
          governing Audited Financial Statements and shall be binding upon            
          the parties.  All of KPMG’s fees and expenses shall be borne by             
          Purchaser, and all of Price Waterhouse’s fees and expenses shall            
          be borne 50% by Shareholders and 50% by Purchaser.  Based on the            
          results of the audit, the Purchase Price shall be adjusted as               
          follows:                                                                    
                    2.3.1  If the amount of the Company’s Net                         
               Liability, as reflected in the Audited Financial                       
               Statements, is $17,074,829 (i.e., $50,000 more than the                
               Net Liability as reflected in the Balance Sheet) or                    
               more, then the Purchase Price shall be reduced by the                  
               amount by which the Net Liability, as reflected in the                 
               Audited Financial Statements, exceeds $17,024,829.  As                 
               used in this Section 2.3, “Net Liability” means the                    
               amount equal to Total Long Term Debt (excluding                        
               Deferred Income Taxes) plus Total Current Liabilities                  
               minus Total Current Assets; provided, however, that if                 
               the Audited Financial Statements reflect any reserve                   
               for the class action litigation, Lane et al v. Birting                 
               Fisheries, Inc., which is presently being maintained                   
               against the Company in United States District Court                    
               under Cause No. C93-827D, then the amount of such                      
               reserve shall not be included in Total Current                         
               Liabilities in determining Net Liability.  “Total Long                 
               Term Debt”, “Deferred Income Taxes”, “Total Current                    
               Liabilities”, and “Total Current Assets” shall be                      
               determined by reference to the balance sheet contained                 
               in the Audited Financial Statements.                                   
                    2.3.2  If the amount of the Company’s Net                         
               Liability, as reflected in the Audited Financial                       





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