EX-99 4 ex99-2.txt EXHIBIT 99.2 Exhibit 99.2 [Genesis letterhead] December 16, 2002 Via Telecopy and Overnight Courier NCS HealthCare, Inc. 3201 Enterprise Parkway, Suite 220 Beachwood, Ohio 44122 Attn: Jon H. Outcalt Chairman of the Board of Directors Dear Mr. Outcalt: Reference is made to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of July 28, 2002, by and among Genesis Health Ventures, Inc. ("Genesis"), Geneva Sub, Inc. and NCS HealthCare, Inc. ("NCS"). All capitalized terms not otherwise defined herein shall the meaning ascribed to such terms in the Merger Agreement. By this letter, Genesis hereby terminates the Merger Agreement pursuant to Section 7.1(g)(iii) of the Merger Agreement. Accordingly, pursuant to Sections 7.2(b) and 7.2(d) of the Merger Agreement, NCS is hereby obligated to pay to Genesis, not later than the close of business on December 17, 2002 and by wire transfer of immediately available funds, a Termination Fee in the amount of $6,000,000. Pursuant to Section 7.2(a) of the Merger Agreement, such payment obligation survives termination of the Merger Agreement. Genesis's wire transfer instructions will be forwarded shortly under separate cover. Very truly yours, GENESIS HEALTH VENTURES, INC. By: /s/ George V. Hager, Jr. ----------------------------------- Name: George V. Hager, Jr. Title: Executive Vice President and Chief Financial Officer cc: Gerald D. Stethem NCS HealthCare, Inc. H. Jeffrey Schwartz, Esq. Megan L. Mehalko, Esq. Benesch, Friedlander, Coplan & Aronoff, LLP Mark Gordon, Esq. Wachtell, Lipton, Rosen & Katz