Cullen Investments Limited Transfer Restriction Agreement with Victory Acquisition Corp.
Cullen Investments Limited agrees not to transfer its ownership interests in Cullen International Limited to anyone except Eric Watson or entities owned or controlled by him or his family, until one year after Victory Acquisition Corp. completes a business combination. This agreement is intended to restrict the transfer of ownership for a specified period following a significant corporate event involving Victory Acquisition Corp.
Exhibit 10.16
April 12, 2007
Victory Acquisition Corp.
7 Times Square, 17th Floor
New York, New York 10036
Ladies and Gentlemen:
Cullen Investments Limited hereby agrees that it will not transfer its ownership interests in Cullen International Limited to anyone other than Eric Watson or entities of which he or his family members are the beneficial owners, or beneficiaries of, until one year after Victory Acquisition Corp. completes a business combination (as such term is defined in the Registration Statement relating to the initial public offering of Victory Acquisition Corp.).
| Cullen Investments Limited | ||
| By: | /s/ Liz A. Style | |
| Name: Liz A. Style | ||
| Title: Director | ||
