Letter Agreement, dated June 5, 2020
Exhibit 10.1
INTERSECT BEVERAGE, LLC
June 5, 2020
Eastside Distilling
1001 SE Water Ave
Suite 390
Portland OR 97214
| Re: | General Mutual Release dated effective as of April 24, 2020 (“Mutual Release”), by and among Intersect Beverage, LLC, a California limited liability company, and its principals Patrick J. Kilkenny and Stephanie Kilkenny, and Robert Grammen (collectively, “Intersect”), and Eastside Distilling, Inc., a Nevada corporation (the “Company”), and Paul Shoen, Jack Peterson, and Lawrence Firestone (collectively, “Eastside”). |
To Whom it May Concern:
Eastside agreed in the Mutual Release to nominate Geoffrey Gwin for election at Eastside’s 2020 Annual Meeting of Stockholders, and to cause Geoffrey Gwin to be submitted to the shareholders for election. Intersect hereby waives that requirement and instead agrees that Robert Grammen be nominated for election in place of Geoffrey Gwin.
Intersect and the Company acknowledge and agree that all other terms of the Mutual Release continue to be enforceable, and further that references to the Asset Purchase Agreement in the Mutual Release were intended to and do include the Transaction Documents referred to in the Asset Purchase Agreement.
The Parties to this letter agreement represent and warrant that they have the power and authority to enter into this letter agreement.
| Intersect Beverage, LLC | ||
| By: | /s/ Patrick J. Kilkenny | |
| Name: Patrick J. Kilkenny | ||
| Its: Manager | ||
| Patrick J. Kilkenny | ||
| /s/ Patrick J. Kilkenny | ||
| Patrick J. Kilkenny | ||
| Stephanie Kilkenny | ||
| /s/ Stephanie Kilkenny | ||
| Stephanie Kilkenny | ||
| Robert Grammen | ||
| /s/ Robert Grammen | ||
| Robert Grammen | ||
| Acknowledged and agreed: | ||
| Eastside Distilling, Inc. | ||
| By: | /s/ Lawrence Firestone | |
| Name: Lawrence Firestone | ||
| Its: Chief Executive Officer | ||
