the NYSE, AMEX or NASDAQ) or the average daily trading volume of the Companys common stock for a consecutive 30 day period is in excess of 100,000 shares per day. The Shareholder hereby agrees that during the Lock-Up Period, that within any calendar month the Shareholder will not, directly or indirectly, on his, her or its own behalf, or on behalf of entities, family members or trusts affiliated with or controlled by him, her or it, offer, sell, agree to offer or sell, solicit offers to purchase, grant any call option or purchase any put option with respect to, pledge, borrow or otherwise dispose of more than an aggregate of 50,000 Covered Shares.įor purposes of this agreement, Lock-Up Period shall mean a period of twenty-four (24) months commencing on the Effective Date and terminating on the earlier of (a) Januor (b) such time as the shares of the Company are listed and traded on a National Exchange (i.e. NOW, WHEREFORE, for valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows: Whereas, in furtherance of the Financing Efforts of the Company, the Shareholder has agreed to enter into this Agreement and to restrict the private and public sale, assignment, transfer, conveyance, hypothecation or alienation of the Covered Shares, on the terms set forth below. Whereas, the Company anticipates undertaking efforts to raise working capital for the Company, that may or may not be completed or if completed, may or may not be beneficial to the Company and its shareholders (the ∿inancing Efforts) and Whereas, as of the date hereof, Shareholder is the beneficial owner of 340,000 shares as (the ∼overed Shares) of Common Stock of the Company held by deposit trust company (CEDE) which shares have been deposited by Shareholder in Shareholders brokerage account at Alpine Securities This Lock-Up Agreement (this ∺greement), effective as of Febru(the ∾ffective Date) is by and between Omnitek Engineering Corp., a California corporation (Omnitek or the ∼ompany) and the Lewis Kurtz (Shareholder).
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |