EXHIBIT 10.11
XXXXXXX FOODS, INC.
000 Xxxx 00xx Xxxxxx
Xxxxx, Xxxxxxxx 00000
March 22, 2007
Xxxx X. Xxxxxxx
Xxxxxx X. Xxxxxx, Xx.
Xxxxxxx Foods, Inc.
000 Xxxx 00xx Xxxxxx
Xxxxx, Xxxxxxxx 00000
Re: Conveyance of Ownership Interests in
Allison's Gourmet Kitchens, LP
Gentlemen:
This letter sets forth the agreement between Xxxxxxx Foods, Inc., and
Xxxx X. Xxxxxxx and Xxxxxx X. Xxxxxx, Xx., who own the following limited
partnership interests in Allison's Gourmet Kitchens, LP, an Oklahoma limited
partnership:
48% Xxxx X. Xxxxxxx
12% Xxxxxx X. Xxxxxx, Xx.
Each individual agrees to transfer all of such interest in Allison's
Gourmet Kitchens, LP to Xxxxxxx Foods, Inc. for the purchase price of $1.00,
subject to the condition that the public offering for an amount of at least $14
million underwritten by Xxxxxxx Investment Co. as outline in the Letter of
Intent dated May 8, 2006 between Xxxxxxx Investment Company, Inc. and Xxxxxxx
Foods, Inc. be completed by May 15, 2007. The transfer will be made
simultaneously with the closing of the public offering.
Please confirm your agreement by signing below and returning a copy of
Xxxxxxx Foods, Inc. at your early convenience.
Very truly yours,
XXXXXXX FOODS, INC.
By: /s/ Xxxx X. Xxxxxxx
-------------------
Xxxx X. Xxxxxxx, President
Accepted and agreed:
/s/ Xxxxxx X. Xxxxxx Xx.
------------------------
Xxxxxx X. Xxxxxx, Xx., an individual
/s/ Xxxx X. Xxxxxxx
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Xxxx X. Xxxxxxx, an individual
cc: Xxxx Xxxxxx
