LOCKUP/LEAKOUT AGREEMENT December 31, 2015Lockup/Leakout Agreement • January 22nd, 2016 • Grilled Cheese Truck, Inc. • Retail-eating places • California
This letter agreement (this “Agreement”) is entered into effective as of the date set forth above (the “Effective Date”). As of the Effective Date, and as a result of the sale of substantially all of its assets to The Grilled Cheese Truck, Inc., a Nevada corporation (the “Company”), The Seawolf Group LLC, a California limited liability company (the “Shareholder”) is the record and beneficial owner of six hundred fifty thousand (650,000) shares of Series B Convertible Preferred Stock (the “Preferred Shares”) of the Company. The Shareholder does not own any other equity securities of the Company, or any securities or other instruments convertible into equity securities of the Company. The Shares are convertible, at any time or from time to time, into an equal number of shares of common stock of the Company (the “Common Shares” and, together with the Preferred Shares, the “Shares”).
