Exhibit 10.2
June 13, 2005
Great Lakes Dredge & Dock
Company
Attn: Ms. Deb Wensel
2122 York Road
Oak Brook IL 60523
Dear Deb:
It is our understanding that the Net Worth of
Great Lakes Dredge & Dock Corporation and its subsidiaries
(GLDD) will remain below $82.5 million, the minimum Net Worth that
GLDD is required to maintain under Section 6