FIRST AMENDMENT TO LOCK UP AGREEMENT
THIS FIRST AMENDMENT TO LOCK UP AGREEMENT is made and entered into this
19th day of June, 2001 by and between Vital Living, Inc., a Nevada
corporation (the Company) and the stockholders of the Company who have
executed this First Amendment To Lock Up Agreement (hereinafter collectively
called the "Stockholders").
WHEREAS, the Company and Stockholders entered into a Lock Up Agreement
dated May 21, 2001, and
WHEREAS, in connection with the Nevada Registration pursuant to NRS
90.490, the parties desire to amend the Lock Up Agreement as follows:
1. Paragraph 2 shall be deleted in its entirety and the following inserted
in lieu thereof:
This Agreement shall become effective upon the date first above written
and shall continue in effect until the earlier of (i) a period of three
years from the date of this Offering; (ii) when the Company's stock is
traded on the NASD "Over-the-Counter Bulletin Board" at an average share
price of greater than the price in this prospectus for a minimum of
three months; (iii) the Shares are listed on the NASDQ "Small Cap" or
higher market; (iv) the Company has paid the initial purchase price back
to the purchasing shareholders in the form of Company dividends; or (v)
in accordance with the terms hereof (the "Termination Date"). The
period of time from the Effective date until the Termination Date is
referred to herein as the "Lock Up Period."
2. Paragraph 4 shall be deleted in its entirety.
3. Paragraph 5 shall be deleted in its entirety and the following inserted
in lieu thereof:
Upon the occurrence or satisfaction of the condition specified in
Paragraph 2 hereof, the Company shall promptly give appropriate notice
to the Company's transfer agent and present such documentation as is
reasonably required to evidence the satisfaction of such conditions.
The remainder of the Lock Up Agreement shall remain in full
force and effect as written.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
Lock Up Agreement is entered into the day and year first above written.
That this agreement may be signed and executed in one or more
counterparts, each of which shall be deemed an original and all of which
together shall constitute one agreement.
Vital Living, Inc.
By/s/ Xxxxxxx Xxxxx
Xxxxxxx X. Xxxxx
STOCKHOLDERS:
/s/ Xxxxxxx Xxxxx
Xxxxxxx X. Xxxxx (2,738,050 shares locked up)
/s/ Xxxxxx Xxxxx
Xxxxxx X. Xxxxx (2,738,050 shares locked up)
/s/ Xxxxxxx Xxxx
Xxxxxxx X. Xxxx (750,000 shared locked up)
/s/ Xxxxxx Xxxxxx
Xxxxxx X. Xxxxxx (500,000 shares locked up)
