STOCK LOCK UP AGREEMENT
Exhibit 10.3
The undersigned, being the principal
officers of Gen2Media Corp. (“the Company”) hereby agree as
follows:
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1.
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The
Company is in the process of seeking an equity raise of $500,000 from
certain potential investors.
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2.
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In
order to induce certain potential investors into participating in the
equity offering, the undersigned officers have agreed to a 12 month lock
up of most of their shares of stock in the Company.
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3.
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Each
of the undersigned agrees that he or she will not offer any of their
shares for sale to any person, publicly or privately for a period of 12
months from the date hereof, nor shall they borrow against or hypothecate
said shares, loan them to any third parties, or directly or indirectly
transfer said shares in any manner. During this lock up period, none of
the undersigned will discuss any potential sale, transfer, assignment, or
plan for borrowing against any of their shares, except for in the specific
amounts set forth herein.
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4.
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Notwithstanding
this Agreement, each of said officers shall be permitted to sell or
transfer, subject to applicable SEC and other rules, up to 10,000 shares
each per month, beginning April 1, 2010 for the remainder of this
Agreement. This amount shall include all public and private sales, as well
as any type of borrowing against or hypothecation of said shares. This
amount may be rolled over to future months, in the event the officer
chooses to sell less than 10,000 shares in any given month.
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5.
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The
undersigned agree to deliver their certificates to the CFO of the Company
who shall cause a restrictive legend to be placed thereupon consistent
with the terms hereof.
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Wherefore,
this Stock Lock Up Agreement been executed by all officers this 19th day
of January, 2010.
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