Certain Agreements and Arrangements. 10.19.1. At the Closing, THI shall issue to each of ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ and ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Warrants to purchase 375,000 shares of THI common stock, such Warrants to be of like form and tenor as set forth in Exhibit 3.3 (as amended) attached hereto. In consideration thereof, upon issuance of such Warrants, Messrs. Lasko, and each of them, shall be deemed to have surrendered their respective options to each purchase up to 750,000 shares of THI common stock, each contained in their respective Employment Agreements, and the right to receive such options contained in their respective Employment Agreements shall be of no further force or effect.
Appears in 3 contracts
Sources: Asset Acquisition Agreement (Terrace Holdings Inc), Asset Acquisition Agreement (Terrace Holdings Inc), Asset Acquisition Agreement (Downeast Frozen Desserts LLC)