Cannon Express Inc Watch

from SC 13D ~5 pages August 17, 2002 Personal & Confidential Mr. Dean Cannon Chairman & Chief Executive Officer Cannon Express, Inc. 1457 E. Robinson Springdale, Arkansas 72764 Dear Dean: This Letter Will Serve as an Amendment (The "Amendment") to the Agreement Dated July 23, 2002 (The "Agreement") Between Cannon Express, Inc. ("Cannon" or the "Company") and Cfoex, Inc. ("Cfoex") Regarding the Retention of Cfoex as the Exclusive Financial Advisor to Cannon. Whereas, Cannon Seeks Cfoex's Assistance in Addressing Its Operations and Immediate Financial Needs; And, Whereas, Cannon Acknowledges and Accepts in Full the Presentation by Cfoex of a Needs and Situational Assessment Addressing the Company's Operational and Financial Challenges; And, Whereas, Cannon Desires to Further Engage Industry Experienced Executives to Address Its Operations and Immediate Financial Needs; Therefore Be It Known, That Cannon Hereby Further Engages Cfoex and Expressly Agrees to the Following Terms and Conditions Which Shall Be an Amendment to and Therefore Become Part of the Agreement to Be Fully Incorporated Therein. Cfoex's Role