Forfeiture Agreement between Global Gas Corporation and Sergio Martinez dated March 4, 2024
This agreement is between Global Gas Corporation and shareholder Sergio Martinez. Martinez agrees to forfeit and transfer 80,000 shares of Class B Common Stock to the company for cancellation, receiving no payment in return. Martinez must take all necessary steps to ensure the shares are cancelled and no longer outstanding. The agreement is effective immediately upon signing by both parties.
Exhibit 10.20
March 4, 2024
Global Gas Corporation
99 Wall Street, Suite 436
New York, New York 10005
Gentlemen:
The undersigned shareholder of Global Gas Corporation (the “Company”), for good and valuable consideration the receipt of which is hereby acknowledged, hereby agrees to forfeit and transfer to the Company for cancellation in exchange for no consideration, and agrees that the Company shall immediately terminate and cancel, an aggregate of 80,000 shares of Class B (which are exercisable to Class A) Common Stock of the Company (the “Forfeited Securities”). The undersigned shall take such actions as are necessary to cause the Forfeited Securities to be terminated and cancelled, including by directing the Company’s transfer agent (or such other intermediaries as appropriate) to take any and all such actions incident thereto, after which the Forfeited Securities shall no longer be issued or outstanding. Please indicate your agreement to the foregoing by signing in the space provided below.
| Very truly yours, | |
| /s/ Sergio Martinez |
| ACCEPTED AND AGREED TO: | |||
| GLOBAL GAS CORPORATION | |||
| By: | /s/ Michael A. Castaldy | ||
| Name: | Michael A Castaldy | ||
| Title: | Director | ||
