EXHIBIT H
LOCK-UP/LEAK-OUT AGREEMENTS
LOCK-UP/LEAK-OUT AGREEMENT #2
WHEREAS, pursuant to a Convertible Debenture Agreement between
GiveMePower Inc., a wholly-owned subsidiary of TelNet World Communications,
Inc. ("TWCI"), and the debenture holders identified in Schedule "A", the
parties hereby agreed to a lock-up/leak-out agreement on their shares of TWCI
common stock.
THEREFORE BE IT RESOLVED, the parties hereby accept the lock-up/leak-out
agreement as represented in Schedule "A".
Dated June 6, 2001
TELNET WORLD COMMUNICATIONS, INC.
/s/______________________________________
XXXX XXXXXX, DIRECTOR, PRESIDENT & CEO
SCHEDULE "A"
Each party agrees that its free-trading shares will be leaked-out as
specified below.
Name of Lock-up Party Number of Shares to be Locked Up
--------------------- --------------------------------
KCK Industries Ltd. 105,840
Xxxx Xxxxxxxxx 38,339
Xxx & Xxxx Xxxxxxxxx 10,650
Xxxx Xxxxx 10,627
Guy Bull 30,807
Xxxxxx Xxxx 10,608
Xxxxxxxxxxx X.X. Xxxxxxxx 31,823
Xxxxx Xxxxxxx Enterprises Inc. 42,517
Xxxxxxx Xxx 10,608
Xxxx Xxxxxx 8,840
Xxxxxx X.X. Xxxx 10,594
Xxxx & Xxxxx Xxxxxxxxx 40,594
Xxxxxxx Xxxx 20,812
Xxxxxx Xxxxxxxxxxx 10,577
Xxxxxxx X. Xxxxxx 9,497
Xxxxx X. Xxxxxx 9,484
Xxxxxxx Xxxxxx Xxxxxx 10,496
Xxxxxxx X. Xxxxxxx 17,479
Xxxxx Xxxxxxx 10,470
Xxxx-X. Xxxx 10,470
Xxxxx Xxxxxx 10,412
Xxx X. Xxxx 31,235
Xxxxxx Xxxxxx 8,634
Romag Investments Ltd. 10,311
Xxxxxxx Xxxxx 51,554
Xxxxx Xxxxxxx 20,622
701293 Alberta Ltd. 10,291
Xxxxx Xxxxx 214,401
Xxxx & Xxxx Xxxx 10,283
Xxxx Xxxxxx 11,299
Grant Mayor 10,221
Xxxxx Xxxxxxxx 26,769
416025 Alberta Ltd. 101,260
Xxxxx Xxxx 20,213
X. Xxxxxx XxXxxxxxx P.C. 6,738
Xxxxxx Xxxxxxx 50,000
Dymar Chemicals Limited 20,000
Xxxx X. Xxxxxxx Prof. Corp. 6,400
Xxxx X. Xxxxxxx 6,200
Xxxxxx Xxxxxxx 10,000
Xxxx Xxxxxxxxx 20,000
Xx Xxxxxxxxxxx 2,000
Xx. Xxxx X. Xxxxxx 40,000
Xxxxx Xxxxxxxx 5,000
Xxxxxxx Xxxxx 10,000
Xxxxx XxXxxx 10,000
Xxxx Xxxxxxx 10,000
Xxxx X. Xxxxxxxx 70,000
Xxxxxx Xxxxxxxxx XxXxxx 70,000
Xxxx X. Xxxxx 40,000
CCSG Investments Inc. 20,000
Xxxx X. Xxxxxx 50,000
Xxxxxx X. Pool 50,000
Xxxxx Xxxxxx 30,000
Xxxxx X. Xxxx 50,000
Madison Financial LLC 18,000
TOTAL 1,593,625
The leak-out period shall be 24 months commencing as follows:
- 15% to be released upon the listing of TWCI as a fully reporting,
trading public company on the OTC Bulletin Board market (the "Listing
Date");
- 10% to be released upon 90 days from the Listing Date;
- 10% to be released upon 180 days from the Listing Date;
- 10% to be released upon 270 days from the Listing Date;
- 10% to be released upon 360 days from the Listing Date;
- 10% to be released upon 450 days from the Listing Date;
- 10% to be released upon 540 days from the Listing Date;
- 10% to be released upon 630 days from the Listing Date;
- 15% to be released upon 720 days from the Listing Date.
TWCI management reserves the right, at their sole discretion, to increase the
number of shares to be leaked out and/or decrease the leak-out period.
