Common use of Share Release Clause in Contracts

Share Release. 3.1. With two (2) business days following its receipt of confirmation of dismissal of the Litigation, Wilhelmina shall direct ▇▇▇▇▇▇, in its capacity as Escrow Agent under each of the ▇▇▇▇ Escrow Agreement and the ▇▇▇▇▇▇▇▇ Escrow Agreement, respectively, to release (a) to Lorex, a share certificate representing a total of 9,405,843 shares of common stock of Wilhelmina and (b) to ▇▇▇▇▇▇▇▇ ▇.▇., a share certificate representing a total of 9,405,843 shares of common stock of Wilhelmina (the aggregate shares described in clauses (a) and (b), the “Released Shares”). 3.2. Wilhelmina agrees that, following the release of the Released Shares to Lorex and ▇▇▇▇▇▇▇▇ ▇.▇. pursuant to Section 3.1 above, Wilhelmina’s repurchase rights under Sections 2.6(b) and 2.8(e) of the Acquisition Agreement, Sections 4(a) and 4(b) of the ▇▇▇▇ Escrow Agreement and Sections 4(a) and 4(b) of the ▇▇▇▇▇▇▇▇ Escrow Agreement shall, in each case, terminate and have no further force and effect, and Lorex and ▇▇▇▇▇▇▇▇ ▇.▇. shall accordingly own the Released Shares free and clear, subject only to applicable restrictions under U.S. securities laws.