Stock Restriction Removal Agreement between Price Legacy and Mace Security International, Inc.

Contract Categories: Business Finance › Stock Agreements
Summary

This agreement is between Price Legacy and Mace Security International, Inc. It outlines how Price Legacy will keep the proceeds from selling the first 200,000 shares of MACE stock. For the remaining 1,675,000 shares, Price Legacy holds the shares and can sell them, splitting the net proceeds equally with MACE as restrictions on the shares are lifted. MACE can request half of the unsold shares at any time, and Price Legacy must transfer them, with restrictions on the remaining shares then lifted.

Read More Arrow
EX-10.161 4 a4633064ex10p161.txt STOCK RESTRICTION REMOVAL AGREEMENT Exhibit 10.161 Price Legacy keeps the proceeds of the sale of the first 200,000 shares of MACE. Price Legacy keeps title to the remaining 1,675,000 shares; the restrictions on sale are lifted by MACE as sales are made and as proceeds are paid to MACE; and as Price Legacy proceeds to sell these shares it splits net proceeds 50:50 with MACE. At any time so long as any of these shares remain unsold MACE can ask for 1/2 of these shares from Price Legacy and at such time MACE will lift the restrictions on the shares remaining with Price Legacy. Agreed: Agreed: - ------- ------- /s/ Jack McGrory /s/ Louis D. Paolino, Jr. - ---------------- ------------------------- Jack McGrory Louis D. Paolino, Jr. CEO C.E.O PriceLegacy Mace Security International, Inc.